Vertically integrated agricultural business outfit Veritas Farms Inc (OTCMKTS:VFRM) could be the stock to watch this morning in light of the strong rally that it has experienced in recent days.
Market Reaction
On Friday, VFRM stock surged 6.67% to $0.0400 with 490.19K shares, compared to its average volume of 48.86K shares. The stock has moved within a range of $0.0303 – 0.0500 after opening trade at $0.0499.
Veritas Farms Announces Expanded Geographic and Product Partnership with Kroger Family of Stores
Last Friday the stock was in focus once again and ended the day with gains of 7%. The rally on Friday took its gains over the course of the past week to as much as 35%. While it is true that there was no news about the company last week, it might be a good time to take a look at an announcement from the company back on November 16.
Veritas Farms, which is primarily involved in producing full range of CBD laced hemp oil products, announced on that day that it was expanding the distribution partnership and product portfolio with retail giant Kroger Family of Stores.
As per the terms of the agreement that is going to be put in place, Kroger is going to introduce a new variant of hemp oil cosmetic products that are going to be laced with CBD. It is going to be added to the Veritas Farms products which are already sold by Kroger. It might be a good time to add the Veritas stock to your watch lists at this point.
Traders Review
VFRM stock is trading below the 20-Day and 200-Day Moving averages of $0.0696 and $0.0898 respectively. Moreover, the stock is trading below the 50-Day moving average of $0.1675. The stock is down 65% over the past 3-month.
