The previous week was a good one for investors in DRYWORLD Brands Inc (OTCMKTS:IBGR) as it clocked considerable gains. The rally in the stock continued on Friday as it ended up with gains of as much as 10% and thereby took its gains for the past week to as much as 28% as a consequence.
Trading Data
On Friday, IBGR stock surged 9.80% to $0.1120 with more than 167.88K shares, compared to its average volume of 163.73K shares. The stock moved within a range of $0.0962 – 0.1380 after opening trade at $0.0979.
Recent Development
While it is true that there was no specific news about the company last week it may still be a good idea for investors to take a look at the development from back on September 13 this year. At the time, the company announced that it had finally launched its partnership with the longest sports retail operators in the United States, Modell’s Sporting Goods.
It was a major new development for the company and one that may have come as a source of considerable optimism for investors as well. As a direct consequence of the partnership, Modell’s has started selling the HauteD and CoreD product lines from DRYWORLD.
In addition to that, the flagship product of the company DRYFEET was also being sold. All those products are being sold through the Modell’s e-commerce store. It may be a good idea to keep an eye on the DRYWORLD stock.
Technical Data
IBGR stock is trading above the 20-Day and 50-Day Moving averages of $0.09 and $0.08 respectively. However, the stock is trading below the 200-Day moving average of $0.17.
