GPO Plus Inc (OTCMKTS:GPOX) consists of a range of diversified GPOs or Group Purchasing Organizations which are involved in group purchasing for the purpose of saving money for businesses.
Trading Data
On Thursday, GPOX stock increased 12.73% to $1.2400 with more than 1 million shares, compared to its average volume of 75.04K shares. The stock moved within a range of $1.1500 – 1.4500 after opening trading at $1.1600.
GPOPlus+ Enters into Master Distribution Agreement with Hempacco
Yesterday, GPO Plus was in sharp focus after the company announced that it had gone into a Master Distribution Agreement with the company Hempacco Co Inc. The first market that has been assigned to the company in Michigan. The whole thing is going to be handled by DISTRO+, which is the distribution division and GPO for specialty retailers in the company. In this context, it may be a good move for investors to get a better idea about Hempacco as a company.
Hempacco is involved in the hemp smokables business and is looking to bring about disruption to the tobacco industry that is worth $1 trillion. Some of the products that the company is involved in producing are smoking paper, hemp cigarettes, and other products that could be deemed alternatives to smoking tobacco. The agreement with GPO Plus could well prove to be a major new deal for the company since it is expected to turbocharge its distribution channels in a big way.
Key Quote
“We are very excited to be working with Hempacco and the brands they manufacture including Cheech and Chong and Rick Ross’ Hemp Hop branded products,” said Brett H. Pojunis, CEO of GPOX. Pojunis continued, “iconic brands combined with best-in-class quality products set Hempacco apart and make for a lasting partnership.”
Technical Data
GPOX stock is trading below the 20-Day and 50-Day Moving averages of $0.29 and $0.54 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.54. The company has a total market capitalization of $40 million.
