News about the expansion of the distribution footprint of a key product is almost always seen as positive news but investors and hence, it could be a good idea to take a look at the announcement from Greene Concepts Inc (OTCMKTS:INKW) last Thursday.
Trading Data
On Friday, INKW stock decreased 3.81% to $0.0101 with more than 13.23 million shares, compared to volume of 13.73 million shares. The stock moved within a range of $0.0099 – 0.0120 after opening trade at $0.0111.
Greene Concepts’ Be Water Now Sold In All Florida Turnpike Service Center Locations
The company announced on the day that H20 Artesian, its distributor from Florida, has been successful in placing BE WATER at all the service plaza convenience stores of Florida Turnpike Shell Gas Station. The product had been made available at all the eight service plaza convenience stores and it may be said that it was a significant development for Greene Concepts.
In this regard, it should be noted that the Florida Turnpike is a north-to-south toll road and provides convenient routes to many of the interstates. Hence, the traffic on this route may often be significant and hence, the placing of BE WATER at these convenience stores could well prove to be a long-term boost in terms of sales. These convenience stores are open around the clock, 7 days a week. The Turnpike gets heavy traffic from millions of commuters on a daily basis.
Key Quote
Brian Adkins, one of Artesian H2O’s principal partners along with Mike McMurray, conveys, “The Florida Turnpike service plazas receive a high volume of daily traffic from millions of commuters each day, and our presence in each of them is significant. We collaborated with Florida Turnpike Services along with the managers of each of the service centers to highlight BE WATER in a way that differentiates it from other brands while capturing the customer’s attention at a reasonable price (between $1.49 – $1.99 per bottle). This includes the use of quality point-of-purchase displays that highlight the clean look of the label along with the USA-Proud tie-in to encourage American pride among consumers when they purchase BE WATER.”
Technical Data
INKW stock is trading above the 50-Day and 200-Day Moving averages of $0.0081 and $0.007 respectively. However, the stock is trading below the 20-Day moving average of $0.0109. The company has a total market capitalization of $21.43 million.
