Brownies Marine Group Inc. (OTCMKTS:BWMG) announced on August 29, 2022, that its wholly owned subsidiary, BLU3, Inc. has shipped the 1,000th unit of its Nomad, which officially launched in the last quarter of 2021.
Trading Data
On Monday, BWMG stock slumped 13.28% to $0.0320 with more than 50.10K shares, compared to its average volume of 68.16K shares. The stock moved within a range of $0.0320 – 0.0369 after opening trade at $0.0369.
Brownie’s Marine Group, Inc. announces BLU3’s 1,000 shipments of its Nomad product
Till August 2022, BLU3 has sold over 5,000 of the Nemo and Nomad combined. The original BLU3 battery-powered tankless dive system, Nemo, was launched back in the last quarter of 2019. It continues to be extremely popular in the diving and snorkeling market. The Nomad which can reach down to a maximum of 30 feet, is the second system offered in BLU3’s line of battery-powered products.
As BLU3 continues to develop as a brand, it will keep on innovating and expanding its product line. Brownie’s Marine Group has one objective in mind – to offer consumers the complete vertical integration of an unforgettable diving experience. All of the brands look to create products that excite the end user and are environment-friendly too.
Blake Carmichael, CEO of BLU3, Inc. said that there was always a market for a deeper version of the Nemo dive system. It is amazing that the product is being accepted globally. It took around 13 months to ship 1,000 Nemos, but with the brand recognition and marketing reach that BLU3 has built over the last 2 years, the 1000th Nomad was shipped in only 9 months!
Key Quote
“We knew there was a market for a deeper version of our Nemo dive system, and we are very happy with the worldwide product acceptance.” Says Blake Carmichael, CEO of BLU3, Inc. “It took roughly 13 months to ship 1,000 Nemos, but with the brand recognition and marketing reach that BLU3 has built over the last 2 years, we were able to reach our 1000th Nomad in only 9 months. It is exciting to see our past research and development efforts shine as we now receive many incredibly positive customer reviews.”
Technical Data
BWMG stock is trading below the 20-Day and 50-Day Moving averages of $0.0348 and $0.0378 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0383. The company has a total market capitalization of $13.08 million.
