On Thursday the Branded Legacy Inc (OTCMKTS:BLEG) stock was trading within a range despite the fact that the company was in fact in the news. Stocks trading within a range can often breakout as well and hence, it may be a good idea to take a look into the news.
Market Reaction
On Thursday, BLEG stock ended flat at $0.0329 with more than 20 shares, compared to its average volume of 17K shares. The stock moved within a range of $0.0329 – 0.0329 after opening trade at $0.0329.
Key Details
The holding company, which is best known for its involved in the CBD and hemp laced beverage products, provided its shareholders with a recap of some of the events from the first quarter of 2022. It may be a good idea for investors to consider taking a look at some of the highlights.
The company noted that although there was still a lot to be accomplished, there are certain things that are awaiting fruition. At this point in time, there are certain acquisition which are still pending for branded legacy. However, on the other hand, new retail accounts have been added and the number of current accounts are also growing. The company noted that 2022 is going to be a crucial year and it recognises the fact that it would need to make a big push in order accomplish its many goals this year.
Key Quote
In the letter to shareholders, CEO of Branded Legacy, Jermain Strong, writes, “There is still much to accomplish.” With pending acquisitions, new retail accounts, growing current accounts, and a push in marketing efforts, the Company has big shoes to fill. The Company recognizes the need to press on in making 2022 a breakthrough year for the Company. Strong continues, “Company President, Brandon White, has spearheaded this entire process, and his experience and expertise in sales is proving that he is the right person to lead Branded Legacy, Inc into the future.”
Traders Review
BLEG stock is trading below the 20-Day and 50-Day Moving averages of $0.0336 and $0.0353 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0480. The stock is down 53% over the past 6-month.
