Shares of Noble Roman’s Pizza (OTCMKTS:NROM) have been under pressure over the past week with a fall of 21%.
Market Reaction
On Monday, NROM stock ended flat at $0.4342 with 1k shares, compared to its average volume of 21k shares. The stock has moved within a range of $0.4342 – 0.4342 after opening trade at $0.52.
Noble Roman’s New Craft Pizza & Pub in Franklin, IN, Opens its Doors
Indianapolis based franchisor and operator of Noble Roman’s Pizza (OTCMKTS:NROM) and Noble Roman’s Craft Pizza & Pub, announced on December 6, 2021 about the opening of its 9th company-owned Craft Pizza & Pub restaurant, its flagship pizzeria concept, in Franklin, IN, in the Northwood Plaza shopping center on US 31.
Noble Roman’s association with the city of Franklin goes way back. This particular restaurant, like other recent locations, is designed to boost speed of production and efficiency of the company’s novel “Pizza Valet” curbside carryout service. It sprawls over 3,550 square feet with very attractive occupancy just like other new Craft Pizza & Pub locations.
The very first Noble Roman’s Craft Pizza & Pub opened in January 2017 in Westfield, Indiana. Some other company-operated restaurants are in Whitestown, Fishers, Carmel, Brownsburg, Greenwood, McCordsville, and north-central Indianapolis, Indiana.
Scott Mobley, President and CEO of Noble Roman’s states they are elated at getting the opportunity to give back to the city and several other communities in the neighboring areas. Since this market is familiar with Noble Roman’s, brand awareness won’t take long to build up. There are more locations set to open up, which will contribute towards revenue and EBITDA growth going forward.
Traders Review
NROM stock is trading below the 20-Day and 50-Day Moving averages of $0.54 and $0.59 respectively. However, the stock is trading above the 200-Day moving average of $0.57.
