Among the stocks that could be on the watch lists of investors this morning, the FBC Holding Inc (OTCMKTS:FBCD) stock could well be the one to look into closely.
Trading Data
On Wednesday, FBCD stock ended flat at $0.0003 with more than 10.36 million shares, compared to its average volume of 20.78 million shares. The stock moved within a range of $0.0002 – 0.0004 after opening trading at $0.0003.
About FBC Holding Inc
The company is the parent company of Formrunner Apparel Inc and it may be important for investors to take a closer look into the subsidiary company’s business.
Formrunner is currently best known for carrying a wide range of top notch street wear as well as accessories in Scottsdale in Arizona. Yesterday, the company came into focus after it made a key announcement through its subsidiary company Formrunner.
FBC Holding, Inc. (FBCD) Announces Massive Expansion of its Retail Location in Fashion Square Mall
Formrunner announced yesterday that it had decided to expand its retail location named Hyperviolent to the Fashion Square Mall. The news about any kind of expansion can often prove to be a major boost for any company and hence, the news from yesterday could well prove to be a source of excitement for the investors.
In the press release, it was also noted that FBC Holding is a company that is always on the lookout for ways in which it could stay ahead of its competitors and the latest development was part of that approach. Lisa Nelson, who is the Chief Executive Officer and President of the company, spoke about the latest developments as well. She noted that due to the significant sales that have been generated by Hyperviolent, the company had been approached by Fashion Square Mall to move into an even bigger space. Due to this new arrangement, it is going to be possible for the company to take its revenues to the next level. The company had been operating from out of a 600 square feet store but following the latest arrangement, it is going to be move into a storefront spread over 2000 square feet.
A bigger store is going to allow the company to have more shelves and then populate those with even more merchandise. Hence, there is an opportunity for bring about considerable growth in revenues and profits. The larger Hyperviolent store is going to offer more than 500 types of clothing to go along with more than 100 different pairs of shoes. The grand opening of the new store is going to take place next month. It was further noted that FBC Holding is going to provide its shareholders with timely updates with regards to the ongoing developments.
While the latest expansion drive is certainly a major development, FBC Holding Inc had in fact been in the news last week as well when it provided the projections for its future growth. On July 13, the company announced that it believed that it was going to grow by as much as 650% from its 2020 revenues. Over the course of the rest of the year FBC Holding is going to work towards becoming one of the more dominant operators in the retail clothing industry. At this point in time, it may be a good idea for investors to add the FBC Holding stock to their watch lists.
Technical Data
FBCD stock is trading below the 20-Day and 50-Day Moving averages of $0.0004 and $0.0004 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0047. The company has a total market capitalization of $432K. The stock is down 25% over the past week.
