It is always seen as a major boost when a company manages to sign up more outlets through which to sell its products. Yesterday, TAAT Global Alternatives Inc (OTCMKTS:TOBAF) was in the news after it announced that Buc-ee’s is going to sell its flagship product named TAAT at all of its 34 locations that are dotted across the state of Texas.
Trading Data
On Wednesday, TOBAF stock lost 1.91% to $0.8313 with more than 14.96K shares, compared to its average volume of 39.25K shares. The stock moved within a range of $0.8250 – 0.8361 after opening trade at $0.8307.
TAAT® to be Sold in All 34 Texas Buc-ee’s Stores by Monday September 12
The sale of the product is going to begin from September 12, 2022. It is part of TAAT Global’s overall effort to roll its product out in the state of Texas. In this regard, it should be noted that the state has a population of 29.5 million and the adult smoking incidence rate is currently at 14.7%.
The company had already announced its collaboration with Buc-ee’e, which operates a regional travel centers and gas stations chain totaling 43, which are spread across the Southern states.
Now, with the latest development, TAAT Global’s flagship product is going to be made available in around 80% of the locations which are operated by Buc-ee’s. It goes without saying that the latest development is a significant one and could well lead to a boost for the company’s strategy in the region.
Key Quote
TAAT® Chief Executive Officer Michael Saxon commented, “We are thrilled to be taking the next step with Buc-ee’s. Placing TAAT® in all Texas locations of one of the best-known local retailers is an incredible milestone for our brand, as we continue to build our awareness with adult smokers. We are thankful to the Buc-ee’s team for providing TAAT® with prime merchandising and advertising placement behind each of its 143 cash registers in its Texas locations. We are putting a strategic focus on Texas, for which Buc-ee’s will be our initial anchor account. Our success in Buc-ee’s will help us further expand in one the of the country’s largest states which has approximately 28,000 tobacco retailers6. This week I am working directly with our sales team in Austin, TX where we are interacting face-to-face with the Buc-ee’s team to explore how we can maximize this opportunity.”
Technical Data
TOBAF stock is trading above the 20-Day and 50-Day Moving averages of $0.80 and $0.82 respectively. However, the stock is trading below the 200-Day moving average of $1.27.
