As soon as a new trading week begins it is time for investors to start taking a look into stocks which may have clocked considerable gains on the previous Friday. More often than not it gives investors an idea about the stocks that they might start tracking on the day. This morning there may be a large number of stocks that investors may consider tracking and one such stock is that of Alliance Creative Group Inc (OTCMKTS:ACGX).
The company had come into sharp focus among investors back on Friday and had ended the day with gains of as much as 28% for the day. In this situation, investors may do well to take a closer look into the nature of the company’s business and then analyse the latest developments which they could have an impact on the stock price.
On Friday, ACGX stock soared 28.15% to $0.2240 with more than 95K shares traded, compared to volume of 10K shares. The stock moved within a range of $0.1727 – 0.2298 after opening trading at $0.1728.
About The Company
Despite its name, Alliance Creative Group is involved in the packaging solutions business and offers its services to in both packaging management as well as in retail packaging. It is a full service packaging company that not only provides its clients with packaging development and initial concept but also sees the entire thing through with managed inventory services and final production. The company has been involved in this business since as far long back as 1997. Alliance Creative Group also provides additional services to its clients which include commercial printing, labels and corrugated boxes among others. The company is also known for providing specialized customers support throughout the course of the pricess.
Alliance Creative Group (ACGX) Reports Revenue of $2,974,489 for Second Quarter of 2022
The company had actually come into sharp focus among investors this past Friday after it announced its financial results for the fiscal quarter that had ended on June 30, 2022. Considering the fact that the results had led to a strong rally, it may be a good time to take a look at some of the highlights. Alliance Creative Group managed to generate revenues to the tune of as much as $2,974,489 during the quarter to go along with gross profits of $68,156. However, the company suffered a net loss of as much as $86,044 during the quarter. At the end of the quarter, Alliance Creative Group reported cash balance of $40,630. The total valuation of the equity of the company’s stockholders stood at $1,504,776 at the end of the quarter.
The Chief Executive Officer of the company Steve St Louis spoke about the performance as well in a statement. He noted that while Alliance Creative Group managed to boost its revenues during the course of the second quarter, it also saw the company spending more on the cost of goods. However, he went on to state that Alliance Creative Group was in a good position to overcome these challenges and eventually continue on its growth path. He noted that the fulfillment and kitting revenues had gone up in the second fiscal quarter. He went on to add that the company was also in talks with regards to the possibility of further expanding that portion of the business.