A stock may fall sharply in a single day but that does not categorically mean that it is to be avoided. It is important for investors to work out if the stock is going to continue to suffer from a selloff or if it might make a strong recovery any time soon.
For instance, the Greene Concepts Inc (OTCMKTS:INKW) stock was in the middle of a strong selloff yesterday and had ended up with a decline of as much as 7% yesterday amidst heavy downward pressure. This article is going to give you a fair idea about Greene Concepts as a company and the recent developments that you could do well to keep in mind.
Trading Data
On Tuesday, INKW stock fell 6.81% to $0.0175 with 33.10 million shares, compared to its average volume of 8.20 million shares. The stock moved within a range of $0.0167 – 0.0191 after opening trade at $0.0180.
About The Company
The company is involved in the fast-growing beverage space. Greene Concepts is involved with providing the global market with premium quality and healthy beverages which are meant not only to meet the nutritional needs of the consumers. The beverages also seek to boost the mind, body, and spirit.
The flagship product of the company is BE WATER, which is regarded as high-end artesian water that seeks to support the health and bodily wellness of the consumers. Greene Concepts is also known for sourcing its water in an ethical manner, from artesian wells and seven spring. The company is committed to designing, developing, and marketing more premium beverage brands that are meant for boosting the lives of its consumers.
Greene Concepts Upgrades and Modernizes its Marion, NC Beverage & Bottling Plant to Prepare for Accelerated Growth and Sales Volume
Yesterday the company came on to focus among investors after it announced that it had continued to make more improvements at its beverage and bottling plant located at Marion in North Carolina. It was a significant new announcement from Greene Concepts and it may be a good idea for investors to perhaps consider taking a look at the specifics a bit more closely. Some of the improvements include the resurfacing of the parking lot, and driveway, improvement to the LED lighting, painting of the interior and the exterior of the building, and power washing among others. It was also noted that the plant was also going to be equipped with a double forklift that the company would be purchasing soon. The forklift is going to speed up the loading capability of the products into the tractors which ultimately helps with the distribution at a national level. It should be noted that in March last year Greene Concepts had sent out a press release with regards to the enhancement that it was going to make to the bottling plant.
The bottling plant manager of the company, Ken Porter, noted that sales had continued to expand at both national and local levels. As a consequence, it had become necessary to work on these enhancements at the bottling plant. For instance, resurfacing the roads leading up to the plant and enhancements to the parking lot are going to help the plant in receiving the trailers that are sent by the biggest national-level retailers. Despite all this, it seems that investors were not particularly happy with regard to the news of these enhancements.
Technical Data
INKW stock is trading above the 20-Day and 50-Day Moving averages of $0.0092 and $0.0053 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0077. The company has a total market capitalization of $37.13 million. The stock is up 372% over the past month.
