Shares of Kisses From Italy (OTCMKTS:KITL) have been moving within a narrow range after the recent fall.
Market Reaction
On Wednesday, KITL stock ended flat at $0.0949 with 3 shares, compared to its average volume of 46k shares. The stock has moved within a range of $0.0949 – 0.0949 after opening trade at $0.0949.
Latest News
Kisses From Italy (OTCMKTS:KITL) announced on November 17, 2021, that its very first franchise in Canada (situated at 1418 rue Fleury St. E, in Montreal) is all set to open its doors on November 20, 2021, at 9 am EST. The company has also inked a multi-unit deal for Canada for up to 100 franchise locations, in 2020 with Demasar Management and Mr. Denis Senecal, who has over two decades of experience in the business and financial industry.
The Montreal location, named after the Kisses From Italy brand, offers the entire range of Kisses From Italy’s menu that is immensely popular among their customer base in the State of Florida, California and Italy. Apart from that, the menu will feature the company’s organic and gluten-free gnocchi product line, which is now a favorite in Canada, ever since the launch of the company’s retail branded products in Quebec and Ontario.
Clients can also buy retail products like the dry pasta line that has flavors such as, corn, red lentil, black bean and beetroot, along with their gluten-free pizza sauce and pasta sauce with flavors such as Marinara, Rosee, Arrabiata and Roasted Garlic.
Denis Senecal is excited to partner with Kisses From Italy, and looks forward to bringing their product offerings to Canada. He is eager to see how it will be accepted by the local community and overall customer base.
Key Quote
Michele Di Turi, President, co-CEO and co-founder of Kisses from Italy stated, ” for myself and my co-founding partner, co-CEO, CIO and long-time friend, Claudio Ferri, this feels like a defining moment in the Kisses From Italy growth story. The team continues to work hard and push forward with the goal of growing Kisses From Italy across North America, but being given the opportunity to witness a Kisses From Italy opened in the city where we were raised is amazing and a true honor. The preliminary response we have received for the store location has been very positive. We cannot be any more excited with the opening of our first operating franchise, in Canada.” Di Turi added, “we would like give a special thanks to Denis Senecal, our franchise partner in Canada, significant shareholder and the operator of the first Canadian franchise. We are very grateful and appreciative of Denis’ efforts to push forward with great determination in bringing the Kisses From Italy brand to Canada, even while facing headwinds brought on by COVID, building material and labor shortages, Denis and the rest of the team got it done.”
Traders Review
KITL stock is trading below the 20-Day and 50-Day Moving averages of $0.0954 and $0.1033 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1393. The stock is down 4% over the past month.
