Investors are almost always on the lookout for stocks that may have clocked major gains on a single day and by that token, it may be a good idea to look into the GPO Plus Inc (OTCMKTS:GPOX) stock this morning. The stock was in major focus yesterday among investors and ended up with gains of as much as 94% for the day as investors piled on to it in a big way.
Trading Data
On Wednesday, GPOX stock soared 94% to $0.30 with more than 19K shares, compared to its average volume of 5K shares. The stock moved within a range of $0.2150 – 0.3130 after opening trading at $0.2640.
About The Company
GPO Plus is a publicly traded company that is made up of a wide range of Group Processing Organizations or GPOs. In this situation, it is perhaps necessary to first understand the company’s mission before getting into the details of the rally. GPO Plus is committed to helping businesses in saving money through the deployment of group purchasing. On the other hand, the company is also looking to unlock value for the GPO partners, suppliers, and mentors who are affiliated with GPO Plus.
Now that the operations of the company are fairly clear, it is now a good idea to take a look at the specific development that led to the staggering rally in the GPO Plus stock on Wednesday.
GPOPlus+ Acquires Nutriumph® Supplements and HERBERALL®
It was announced yesterday that the company had reached an asset purchase agreement by way of which it was going to acquire Nutriumph Supplements as well as HERBERALL, the flagship product, from Orev LLC. Orev LLC is a limited liability company incorporated in Nevada. However, that was not all. It was also announced that the Nutriumph division of the company is going to be headed by NadegeBellissan, who had been appointed as the new Chief Executive Officer of the said division.
The reason behind the excitement with regards to the acquisition is perhaps quite easy to see. Nutriumph is a company which has managed to create a fairly robust infrastructure for online sales. At this point in time, the company has seller accounts on some of the most sought-after e-commerce platforms like Amazon, Etsy, eBay, and Walmart Marketplace. In addition to that, it also operates its own websites HERBERALL.com and Nutriumph.com. GPO Plus is now preparing to have the first phase of the launch of its own distribution division named DISTRO+ and the products from Nutriumph are going to be featured in the same as part of the consumer packaged goods line of products. In addition to that, GPO Plus has provided a promo code GPOX by way of which all shareholders in the company are going to get a 30% discount on all orders that are placed in the next 30 days from HERBERALL.com and Nutriumph.com.
In this regard, it may be a good idea to point out that last month on June 13 it emerged that GPO Plus had been chosen as the master distributor by DEV Distribution LLC. The agreement between the two parties went into effect on June 8, 2022. As per the agreement, GPO Plus got the right to sell and distribute DEV Products with the pricing of Most Favored Nations.
Key Quote
Nadege Bellissan, CEO of the Nutriumph® division, said “I am thrilled to be working with the team at GPOX! This partnership will open new doors for Nutriumph® and position the company for true growth in the vitamin and nutraceuticals markets. We are looking forward to hitting the ground running and launching several new products by the end of the year.”
Technical Data
GPOX stock is trading below the 20-Day and 50-Day Moving averages of $0.1890 and $0.2979 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.54.
