There are a number of stocks that are expected to come into focus among investors this morning and one of those could well be FBC Holding Inc (OTCMKTS:FBCD). The company had, in fact, come into focus yesterday after it hit the news cycle and it may be a good idea to take a closer look at the developments.
Trading Data
On Wednesday, FBCD stock ended flat at $0.0004 with more than 65.73 million shares, compared to a volume of 22.67 million shares. The stock moved within a range of $0.0003 – 0.0004 after opening trade at $0.0004.
FBC Holding, Inc. (FBCD) Projects Continued Growth up to 650% and Profitability for its Online and Wholesale Clothing Division
Yesterday, the company announced that through Formrunner Apparel Inc, its fully owned subsidiary unit, FBC Holding Inc was going to continue on its path to generating considerable growth and went on to note that it was going to bring about growth to the tune of a staggering 650% in the 2022 fiscal year when compared to 2020. The company went on to add that the staggering growth was going to be another indication of the fact that it was on its way to becoming one of the more dominant retail clothing giants in 2022.
It may now be a good idea to take a closer look at the sort of clothing business that is being run by FBC Holding in order to have a better idea. Formrunner Apparel Inc has managed to hit the sweet spot as an apparel retailer since it not only offers high-quality apparel but also because it offers excellent prices.
This has helped the company is emerging as one of the more highly regarded and respected names in the retail clothing industry. In the press release yesterday, it was noted that the company’s customers are fans of high-class clothing, excellent customer service, ease of payment, and pricing.
In this context, it is also important for investors to keep in mind that the apparel market is a sprawling one that is made up of a wide range of segments and categories. Many of those categories are worth billions in their own right and hence, it can be said that FBC Holding is involved in a highly competitive yet highly lucrative industry that could help it in becoming one of the biggest players. It should be noted that last year, the revenues generated by the entire apparel market hit a humongous $1.5 trillion and it has continued to grow positively.
In 20206, the revenues generated by the apparel industry are expected to hit as much as $2 trillion, and hence, it can be said that there is a lot of market share still to be grabbed by enterprising companies like FBC Holding.
While the global apparel market remains vast, it should be noted that the United States apparel market remains the biggest in the world as things stand. Lise Nelson, who is the President and Chief Executive Officer of the company, noted that the reason that Formrunner has been able to dominate the industry is because of the fact that it has something on offer for everyone. It offers clothing that is priced for as little as $40 to clothing that sells for as much as $800 or more.
Key Quote
President & CEO Lisa Nelson states, “We are dominating the competition at our retail store Hyperviolent in Fashion Square Mall in Scottsdale, Arizona, and we are thrilled to see what the rest of the year brings us!”
Technical Data
FBCD stock is trading above the 20-Day and 50-Day Moving averages of $0.0004 and $0.0004 respectively. However, the stock is trading below the 200-Day moving average of $0.0053. The company has a total market capitalization of $577K The stock is down 50% over the past 6-month.
