As another trading week trudges along, it may be a good time for investors to start checking out some stocks which may come into focus among investors over the course of the coming days. There are many such stocks in the market at this point in time but it is also important for investors to be fairly selective with their choices in this particular endeavor. One of the companies that may be worth looking into this morning is Blue Diamond Ventures Inc (OTCMKTS:BLDV). Before investors get into the specific news with regards to the company, it may in fact be a good time to consider taking a look at the nature of its operations.
Trading Data
On Tuesday, BLDV stock slid 5.88% to $0.0008 with 29.89 million shares, compared to its average volume 5.57 million shares. The stock moved within a range of $0.0008 – 0.0010 after opening trade at $0.0009.
About The Company
The company is involved with the cannabis industry and is engaged in providing companies in the industry with a range of services with regards to adult use cannabis as well as medical use cannabis. In this context, it is perhaps necessary to point out that the company is not only involved in providing its services to startups in the cannabis industry but also to established operators. One of the more important things to keep in mind about the services provided by Blue Diamond Ventures is that these services help its clients with gaining competitive advantages. The company has also built up a significant number of strategic partnerships, alliance in both the public and private sectors and considerable experience in the industry. All those factors make Blue Diamond Ventures a company which has proven to be a highly valuable resource for the cannabis industry.
Blue Diamond Ventures Inc. Completes Acquisition of ICS Consulting Service
Yesterday, the company had come into considerable focus among investors after it made an announcement with regards to a key new acquisition. The company announced that it had been successful in completing the acquisition of ICS Consulting Service LLC. Following the completion of the transaction ICS Consulting is going to be a fully owned subsidiary of Blue Diamond Ventures.
It goes without saying that the acquisition could in fact prove to be a significant one for the company in the long run and it now remains to be seen if the Blue Diamond Ventures stock comes into focus among investors over the course of the coming days or not. Yale Peebles of Blue Diamond Ventures noted that everyone at the company was highly excited at the possibilities of the acquisition and also for the fact that Jenny Germano was joining the team. Peebles went on to note that the acquisition of ICS Consulting could also lead to strong synergies with Harvest 360, another company in which Blue Diamond Ventures has a holding.
In this context, it is also important to note that ICS Consulting has been making waves in the cannabis industry in the emerging markets for quite a while. It has also worked in some of the established markets as well and hence, it can be said that the acquisition could unlock significant value for Blue Diamond Ventures in the long run. It may be a good time to add the stock to your watch lists.
Technical Data
BLDV stock is trading below the 20-Day and 50-Day Moving averages of $0.0008 and $0.0008 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0013. The company has a total market capitalization of $4.30 million. The stock is down 27% over the past 3-month.
