If a stock manages to clock meaningful gains over a reasonable period of time then it could be time to take a closer look. Over the course of the past week, the Unrivaled Brands Inc (OTCMKTS:UNRV) stock has been in the middle of a steady rally and delivered gains of as much as 12%.
Trading Data
On Friday, UNRV stock ended flat at $0.0730 with more than 695K shares, compared to its average volume of 425K shares. The stock moved within a range of $0.0665 – 0.0733 after opening trade at $0.0732.
Unrivaled Brands Reports Second Quarter 2022 Financial Results
As it happens, the vertically integrated cannabis company was in the news this past Friday after it announced its financial results for the second fiscal quarter of the year that ended on June 30, 2022. Unrivaled announced that it had managed to bring in revenues to the tune of $17.56 million in the quarter and that was a massive jump from the revenues of only $2.87 million in the prior year period.
It reflected a year-on-year jump of as much as 511%. Out of the total revenues generated, as much as $10.95 million was made up of retail revenues. The gross profits for the period stood at $8.27 million and that was again a significant jump from the gross profit of only $2.72 million in the prior year period. It reflected a year-on-year rise of as much as 204%.
Technical Data
UNRV stock is trading above the 20-Day and 50-Day Moving averages of $0.0722 and $0.0791 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.1861. The company has a total market capitalization of $38.69 million.
