Although the markets were in for a rude shock yesterday there were some stocks which managed to buck the trend nonetheless and one of those was the ADM Endeavors Inc (OTCMKTS:ADMQ) stock. The company came into focus yesterday after it announced its entry into a new market altogether, the custom liquor and wine bottles space.
Trading Data
On Wednesday, ADMQ stock moved up 7.27% to $0.0679 with more than 99.06K shares, compared to its average volume of 42.49K shares. The stock moved within a range of $0.0631 – 0.0690 after opening trade at $0.0690.
ADM Endeavors, Inc. (OTCQB: ADMQ) Announces New Product Niche: Custom Liquor and Wine Bottles
The company noted that the market for those bottles was underserved and overpriced currently. Hence, its fully owned subsidiary unit Just Right Products decided to enter the market. Just Right has the right resources and the connections on the important front to exploit the inefficiencies of this particular market.
In addition to that, the company also announced that some of the smaller liquor outfits have already shown considerable interest in the sort of pricing and delivery turnaround times that Just Right offered.
The first order that had been completed by the company was with Sweet Beat Vodka , which generated an estimated bottle sales volume to the tune of as much as $250,000 a year. ADM Endeavors further noted that this business has the potential of generating million in revenues every year as new liquor labels are signed on.
Key Quote
ADM Endeavors CEO Marc Johnson said, “This is a great segment to enter. It fits into our long-term plans of producing and delivering custom products that are recession resistant and the growth potential is exceptional with zero effect on in-house production capacity. There is also a high probability it would generate cross sales into our promotional product lines.”
Technical Data
ADMQ stock is trading above the 20-Day and 50-Day Moving averages of $0.0587 and $0.0479 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0611. The company has a total market capitalization of $10.57 million.
