The retail sector has had a major new bounce back following the return to normalization of most countries across the world following the chaos of the coronavirus pandemic. Hence, it is perhaps not a surprise that investors are again coming around to the idea of looking into companies that are involved in the retail sector.
There are many options for investors but one of the companies that you could look into this morning is of FBC Holding Inc (OTCMKTS:FBCD). The company has been in the news lately but before getting into the latest news it may be prudent to have a better idea about the nature of its business as a retailer.
Trading Data
On Tuesday, FBCD stock ended flat at $0.0003 with more than 45.53 million shares, compared to its average volume of 20.23 million shares. The stock moved within a range of $0.0003 – 0.0004 after opening trade at $0.0003.
About FBC Holding Inc
The company is involved in the sales and marketing of headwear, clothing, and accessories that are meant for high school students in the United States. It sells a range of items starting from jackets, shirts, hats, beanies, hoodies, and sweatpants. The items are all sold under the FormRunner Apparel brand.
At this point in time, FBC Holdings sells its products through a couple of retail locations, both of which are situated in the city of Scottsdale in Arizona. In addition to that, it also runs an online store by the name FormRunnerApparel.com. The company’s operations are based out of Scottsdale Arizona.
FBC Holding, Inc. (FBCD) Introduces Bitcoin ATM Machine at Retail Location
The company was in fact in the news yesterday after an announcement was made by its fully owned subsidiary unit FormRunner Apparel. FormRunner announced that it was going to provide a Bitcoin ATM unit at the Hyperviolent retail location at the Fashion Square Mall.
The subsidiary had long been working on ways to provide alternative payment methods to its customers who visit the shop and it decided that providing a crypto payment option was the best way of driving customers to the store. Lisa Nelson, the President and Chief Executive Officer of the company spoke about the latest development as well. She noted that the move was a way of providing all the loyal FormRunner customers with more payment options.
In addition to that, she noted that it was not a unilateral decision from the company since customers have in fact asked plenty of times if it was possible to make a payment with cryptocurrencies. Hence, the multipurpose Bitcoin ATM machine was the idea that the management came up with.
The machine in question that has been installed by the company is known as Bit Teller and at this point in time, it is regarded as the most portable machine of its kind in the market. Hence, it is easy for retail store staff to carry it around if the need arises. In this context, it is also important to remember that the Bitcoin ATM machine is something that is not being offered by competitors of FormRunner, and hence, it may in fact give the company an early competitive advantage. Hence, those who are going to use the Bitcoin ATM machine are quite likely to return to the store once again.
Technical Data
FBCD stock is trading below the 20-Day and 50-Day Moving averages of $0.0003 and $0.0004 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0032. The company has a total market capitalization of $432K. The stock is down 25% over the past month.
