Despite making a fairly significant announcement yesterday the Health Advance Inc (OTCMKTS:HADV) stock suffered from a selloff and went down by as much as 15% amidst a heavy selloff. However, such a decline can even sometimes be an opportunity as well and it may be a good idea for investors to take a look at the actual announcement in order to make up their minds.
Trading Data
On Wednesday, HADV stock ended lower by 14.81% to $0.0115 with 1.71 million shares, compared to its average volume 131.79K shares. The stock moved within a range of $0.0098 – 0.0130 after opening trade at $0.0101.
Distribution of CBD Infused De-alcoholized Wine Begins in New York with Health Advance
The company announced yesterday that it had finally started distribution of its much anticipated CBD-laced de-alcoholized beverage 66 Degrees Beverage. The distribution had been started yesterday from the company’s facilities which are located in Buffalo.
The whole thing is being operated by way of the Courtship Wines Division which is owned by Health Advance. In this regard, it should be noted that the beverage is the first of its kind to have been licensed in the state of New York.
The beverage not only deploys the company’s proprietary techniques for the purpose of getting far better CBD infusion but also provides certain unique characteristics. The company claimed that the product managed to set a benchmark with regards to quality as well as innovation in this particular line of business.
Key Quote
Courtship Wines CEO and brand founder David Katz comments: “This is so new that there are still many moving parts. We are still developing our latest branding elements as the brand is now going into the marketplace, live. All factors are being adjusted in real time to reflect input and feedback from market stakeholders as this is occurring. It is a terrific opportunity for leadership oriented market partners to participate in the roll-out. This will benefit our partners’ consumer base and will keep our partners at the leading edge. It’s an exciting category, and we are at the forefront with the 66° Beverage Company brand. We have a treasure trove of innovation in the pipeline.”
Technical Data
HADV stock is trading above the 20-Day and 50-Day Moving averages of $0.0107 and $0.0106 respectively. However, the stock is trading below the 200-Day moving average of $0.0465. The company has a total market capitalization of $1.77 million.
