The Ohio based firm Better For You Wellness Inc (OTCMKTS:BFYW) is one of the fastest growing entities in the wellness industry at this point in time and last week, the company stock had clocked gains of as much as 5%.
Market Reaction
On Friday, BFYW stock moved down 1.41% to $0.0700 with 323K shares, compared to its average volume of 327K shares. The stock moved within a range of $0.0651 – 0.0747 after opening trade at $0.0655.
Recent Development
While the gains made by the stock last week may have been notable, it is perhaps also necessary to keep in mind that there has been no news over the course of the past week about the company. The last time the company had come into the news was back on February 16 when it announced that it had inked a non-binding Letter of Intent with regards to the acquisition of the company Mango Moi LLC.
It was a major announcement from the company and it may be a good idea for investors to perhaps take a closer look at it. Mango Moi is involved in offering hair and body care products which are vegan, fully natural and contain no toxic elements at all. While it is true that the potential acquisition could be a big boost to Better For You Wellness, it should also be noted that the latest rally might not have been related to that particular announcement.
Traders Review
BFYW stock is trading below the 20-Day and 50-Day Moving averages of $0.0727 and $0.0879 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.01464
