As the trading week continues to progress there are going to be new stocks that are going to come on to the radars of investors and proactive investors would need to switch tack in order to get to know about those stocks. There were a number of stocks that had managed to clock notable gains yesterday and one of those was of Truett-Hurst Inc (OTCMKTS:THST).
It came into focus among investors yesterday and ended up making gains of as much as 4%. Hence, prior to the starting of the trading day today, it may be a good move for investors to consider taking a look at the nature of the company’s operations and also into developments that may have led to those gains yesterday.
Trading Data
On Wednesday, THST stock went up 4.30% to $0.3650 with more than 500 shares traded, compared to a volume of 875 shares. The stock moved within a range of $0.3650 – 0.3650 after opening trading at $0.3650.
About The Company
Truett-Hurst operates in the form of a holding company and the only asset that it controls is H.D.D. LLC, in which it currently owns a controlling stake. H.D.D. is involved in the production, sales, and marketing of ultra-premium and luxury wines and is based out of DrY Creek Valley in Sonoma County California.
Truett-Hurst is based out of Healdsburg in California. Now that you have a fair idea about Truett-Hurst as a company, it may be a good time to take a look at the announcement that was made yesterday. After all, it was the announcement that led to the rally in the stock yesterday. It is a good time now for investors to figure out if the stock is going to hold on to its momentum and add to its gains further through the rest of the week.
Truett-Hurst, Inc. Announces Appointment of New Chief Executive Officer
Yesterday, the company announced that it had appointed a new Chief Executive Officer in the form of Emilie Eliason. The appointment had gone into effect back on August 1, 2022. The appointment of a new CEO is almost always a significant development for any company and so it was for Truett-Hurst as well.
The price action in the stock often provides a good idea about what the market may think about the appointment and at this point, it seems that market participants were happy with the choice made by Truett-Hurst. It should be noted that Eliason is a member of the board of directors at Truett-Hurst as well.
In light of the latest appointment, it may be a good idea for investors to perhaps take a look at the credentials of Eliason and then make their minds up about the new CEO. Prior to joining as the CEO of Truett-Hurst, she had been working in the capacity of the General Manager at Geodesy Wines. Geodesy Wines is a wine company with a difference since it is involved in social enterprises.
All the proceeds that the company raises from the vineyards as well as through its wine sales go towards the financing of a young women’s development and leadership program. Prior to that, she had been at Crimson Wine Group, where she was the Vice President of Marketing, Consumer Sales, and Innovation.
Key Quote
“Emilie’s innovative leadership experience and her deep understanding of the Direct-to-Consumer model will be very valuable to Truett Hurst as the Company enters the next phase of growth,” said Dan Carroll, the Chairman of the Company’s Board of Directors.
Technical Data
THST stock is trading below the 20-Day and 50-Day Moving averages of $0.4673 and $0.4110 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.5565. The company has a total market capitalization of $1.67 million. The stock is down 20% over the past 3 months.
