This morning more and more investors are going to be looking into those stocks which may have managed to clock notable gains on Monday and by that token, it may be a good time to consider taking a look into Alkame Holdings Inc (OTCMKTS:ALKM). The stock was in considerable focus among investors yesterday and ended the day with gains of as much as 20%. This morning it is important for investors to figure out if the stock is going to continue on its upward path or if there is going to be a correction.
Trading Data
On Monday, ALKM stock gained 20% to $0.0006 with 117.42 million shares, compared to its average volume 20.03 million shares. The stock moved within a range of $0.0005 – 0.0007 after opening trade at $0.0006.
About The Company
Firstly, it could be a good idea to take a look at the nature of Alkame Holdings’ business before getting into the latest developments. Alkame is a diversified company that is involved in a wide range of businesses. It operates through a number of subsidiaries and is involved in CBD, hemp, food and beverage manufacturing and co-packing among others. The company is also involved in the water technology space and is also on the lookout for acquisition of consumer brands.
At this point in time, Alkame has been involved in building a strong business through the acquisition of business assets that comply with its aims.
Alkame New Bottom Line Revenue Model Expected to Bring In $175K on Blueberry Pack Agreement for Export to Asia
Yesterday, the company came into focus among investors after it made a key announcement with regards to Bell Food and Beverage Inc, its fully own subsidiary unit. The company announced yesterday that Bell Food was all set to bring in revenues to the tune of as much as $175000 through the work related to packing jar blueberries for the purpose of export to Japan. Since the start of 2022, the company has been involved in putting in place a new revenue model at its co-packing subsidiary units that was going to focus more on co-packing activities. At that same tie, the focus on procurement, as well as purchasing of ingredients for co-packing, had been minimized.
This model is more focused on bringing more revenues and hence, is concerned more with the bottom line. Alkame announced that Bell Food expects to pack as many as 250000 jars through the course of this year. The jars are being packed directly from farmers who are situated in the Pacific Northwest. This has allowed the company to manage thousands of pounds of blueberries quite easily at its co-packing plant. Robert Eakle, who is the Chief Executive Officer of Alkame spoke about the situation as well. He noted that July was the National Blueberry Month and during the period Bell Food has been involved in packing activities for Pacific Flavours Intl.
The company had been working on the packing activities for the particular client for as long as six years and was looking forward to doing the same in the future. The announcement with regards to the expected revenues may have come as a source of considerable optimism for investors and that was perhaps the reason behind the strong rally that was seen yesterday. It may be a good move to add the stock to your watch lists today.
Technical Data
ALKM stock is trading below the 20-Day and 50-Day Moving averages of $0.0006 and $0.0006 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0008. The company has a total market capitalization of $3.30 million. The stock is down 25% over the past 6-month.
