It was a good day in the markets for investors in Greene Concepts Inc (OTCMKTS:INKW) yesterday as the stock went up by as much as 9% following a major new announcement from the company.
Trading Data
On Thursday, INKW stock soared 8.47% to $0.0064 with more than 4.99 million shares, compared to volume of 13.83 million shares. The stock moved within a range of $0.0050 – 0.0064 after opening trade at $0.0050.
Greene Concepts Positions Bottling Plant for Increased Sales and Onsite Support
The company came into focus yesterday after it announced that it was going to expand its bottling plant located in Marion, North Carolina. In addition to that, Green Concepts further noted that it was going to raise the level of support and onsite staffing at the bottling plant as well. The expansion process is going to involve the installation of bottling line of higher speed so that Green Concepts could product its own bottles. In addition to that, there is also going to be gallon sized production and addition of key personnel for important roles.
At this point in time, the size of the bottling plant owned by the company spans across an area of 55000 square feet but it is now going to be expanded by as much as 20000 square feet. It should be noted that earlier on this year on August 16, Greene Concepts had sent out a press release with the announcement that it was going to modernize and also upgrade its Marion bottling plant.
Key Quote
Amy McNally, Vice President of Marketing and Sales, notes, “The added square footage to our plant prepares us to manufacture and house additional bottles while increasing our packaging and loading space as we continue to expand to more retailers across the country. In addition, we are preparing to install an additional high-speed line where we will be able to amplify our production capacity while reducing production costs through vertical integration.”
Technical Data
INKW stock is trading below the 20-Day and 50-Day Moving averages of $0.0071 and $0.0094 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0076.
