Shares of Slinger Bag Inc (OTCMKTS:SLBG) ended sharply higher on Thursday after the recent fall. The stock is still down 30% in the past month.
Market Reaction
On Thursday, SLBG stock soared 15.20% to $1.97 with more than 14.70K shares, compared to its average volume of 17.50K shares. The stock has moved within a range of $1.7250 – 1.9800 after opening trade at $1.75.
Black Friday/Cyber Monday Promotions Generates Excellent Sales for Slinger
One of the leading sports technology companies, Slinger Bag Inc (OTCMKTS:SLBG), announced results from its 2021 Black Friday/Cyber Monday sales promotion on December 02, 2021. The company smashed its previous daily record for sales, as it clocked a whopping figure of $1.2 million, from November 23 to December 1!
Juda Honickman, Slinger’s Chief Marketing Officer, couldn’t be more thrilled about it! They expected good sales, considering the global demand for the Slinger Bag, and it is the ideal product during this period of ecommerce activity. However, the actual figures exceeded their expectations, which clearly showcase the affinity they have built across tennis in less than two years. Consumers want to play tennis in an enjoyable, convenient, and innovative manner, and that is just what they are getting.
Slinger CEO Mike Ballardie comments that the objective was to ensure every tennis enthusiast in the world carries the Slinger Bag, and sales from the past week has proven that demand continues to shoot up. They are diligently working to improve it even further by making it more portable and pocket-friendly, with add-ons to enhance usability for players of all levels.
The company is also expanding on their product offering in other racquet sports in 2022, and working on their connected sports technology platform.
Traders Review
SLBG stock is trading below the 20-Day and 50-Day Moving averages of $2.30 and $2.72 respectively. Moreover, the stock is trading below the 200-Day moving average of $3.41.
