Shares of Bloomios Inc (OTCMKTS:BLMS) have been trading within a narrow range over the past few sessions.
Market Reaction
On Tuesday, BLMS stock ended flat at $1.02 with 100 shares, compared to its average volume of 364 shares. The stock moved within a range of $1.0200 – 1.0200 after opening trade at $1.02.
Bloomios Begins Trading on OTCQB Venture Market as BLMS, as Hemp-Derived Cannabinoid Product Sales Exceed $8 million
Leading researcher, manufacturer and wholesaler of hemp-derived cannabinoid nutraceuticals and cosmetics, Bloomios Inc (OTCMKTS:BLMS) on March 15, 2022, confirmed that it would commence trading on OTCQB Venture Market under the symbol, BLMS, starting today. In just a year, the firm has emerged as a premier manufacturer of private as well as white-label hemp-derived cannabinoid products.
The products include cosmetics and nutraceuticals incorporating cannabidiol, a popular cannabinoid of over one hundred distinct cannabinoids derived from hemp. The company is also engaged in the manufacturing of products like alternative cannabinoids and peripheral components of hemp.
Since its launch in quarter four of 2020, its gross revenues have surged from zero to more than $8 million by September 30, 2021. The company has augmented production capacity by about 300% since its facility expansion and upgradation of equipment.
Bloomios CEO, Michael Hill said that as an emerging firm, listing on OTCQB elevates market profile and will ensure greater liquidity broadening shareholder base. Hill added that the listing demonstrates a significant step in long-term capital market strategy made for building shareholder value and leveraging a unique B2B value proposition.
The firm is aiming at the North American CBD market, which is anticipated to grow at a 33.3% compounded annual growth rate to reach $61.3 billion by 2027. Furthermore, it is also looking at expansion into the high-margin nutraceuticals space, which is witnessing tremendous growth.
Traders Review
PLSH stock is trading below the 10-Day and 50-Day Moving averages of $0.65 and $0.69 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.71.
