Yesterday, ADM Endeavors Inc (OTCMKTS:ADMQ) was in the news after it came up with a key update. The company announced that the long anticipated tree removal had been concluded and the company will now proceed to the next stage, which will be to take care of the grading for the new building.
Trading Data
On Thursday, ADMQ stock moved up 1.04% to $0.0680 with more than 100.91K shares, compared to its average volume of 36.06K shares. The stock moved within a range of $0.0673 – 0.0700 after opening trade at $0.0673.
ADM Endeavors, Inc. (OTCQB: ADMQ) Announces Construction Updates: Tree Removal has Been Completed in our Building Project
It was also announced that the service plans with regards to the plumbing as well as electrical had already been submitted to the relevant authorities and the permits were awaited. It was a significant announcement from the company since the construction of the new building is important for the future of the company.
The Chief Executive Officer of ADM Endeavors, Marc Johnson spoke about the matter as well. He noted that the new building was going to be ‘essential’ for the future of the company and he pointed out that it would help in boosting production by as much as 500%.
Hence, it goes without saying that removal of the tree was a major new development. In addition to that, Johnson noted that the building would also help in boosting the company’s retail foot print by as much as 1000%. Consequently it would be possible for ADM Endeavors to add new retail divisions.
Key Quote
ADM Endeavors CEO Marc Johnson said, “The new building is essential to our growth plans. It will allow us to increase production capacity by 500%. It will also increase our retail footprint by over 1000% and allow us to add new retail divisions to include scrubs and workwear. These new retail divisions will enhance our ability to service government contracts and secure new ones.”
Technical Data
ADMQ stock is above the 20-Day and 50-Day Moving averages of $0.0562 and $0.0462 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0614. The company has a total market capitalization of $10.47 million. The stock is up 79% over the past month.
