Investors have been focussed on the gourmet readymade meals company Home Bistro Inc (OTCMKTS:HBIS) over the course of the past month and that has been reflected on the price action in its stock during the period.
Over the course of the past week, the Home Bistro stock has clocked gains of 15% and over the past month, the total gains stand at as much as 75%. In such a situation, it might be a good idea for investors to take a look at some of the recent happenings at the company. Earlier on this month on September 7 the company announced in the preceding 90 days, the returning customer rate actually went up by as a staggering 50%.
Zalmi Duchman, the Chief Executive Officer of Home Bistro, stated that reorders from returning customers are a ‘critical factor’ in the company being able to build a successful business. He went on to state that earlier on this year, Home Bistro brought in far more strident quality control measures and since then the company has experienced a spike in returning customers. In the month of August alone, the reorder rate stood at as much as 20%.