TAAT Global Alternatives Inc (OTCMKTS:TOBAF) (CSE:TAAT) Stock In Focus After Latest Development
Shares of TAAT Global Alternatives Inc (OTCMKTS:TOBAF) (CSE:TAAT) ended higher in the previous session, recovering a bit from the recent fall.
Market Stats
On Friday, TOBAF stock increased 3.31% to $1.56 with more than 69.8K shares, compared to its average volume of 104k shares. The stock moved within a range of $1.4700 – 1.5600 after opening trading at $1.51.
TAAT™ Begins Development of a “Heat-Not-Burn” Offering with a U.S. Subsidiary of Shanghai Shunho New Materials Technology
TAAT Global Alternatives Inc (OTCMKTS:TOBAF) (CSE: TAAT) on February 19, 2022 announced entering into letter of intent withU.S subsidiary of Shanghai Shunho New Materials Technology for undertaking development work. This will be pertaining to a white-labelled “heat-not-burn” device and heatable sticks comprising of TAAT’s proprietary tobacco-free and nicotine-free Beyond Tobacco material.
Heat-not-burn tobacco products became commercially available first in 2010 as another option to combustible tobacco cigarettes. The core purpose was to address several weaknesses of e-cigarettes delivering nicotine through vapour.
The products have been proven on retaining users vis-à-vis other tobacco cigarette alternatives. TAAT has identified opportunity on building existing international market share in tobacco industry.
Headquartered in Shanghai, Shunho is a reputed tobacco ancillary service company working closely with international tobacco companies.
TAAT Chief Executive Officer Setti Coscarella said the mission to give consumers better alternatives to tobacco cigarettes ensuring option to leave nicotine behind. Setti added that post a year selling TAAT with launches across US- the firm has realised success in giving consumers unique concept of combustible product.
The CEO added that this will position the firm to capture market share in biggest part of tobacco category. Furthermore, the firm added that the reason of choosing on pursuing the heat-not-burn segment is the ‘sticky’ option.
Key Quote
TAAT™ Chief Executive Officer Setti Coscarella commented, “Our mission is to provide consumers better alternatives to tobacco cigarettes, giving them the option to leave nicotine behind while keeping the experiences they love.”
Traders Corner
TOBAF stock is trading above the 20-Day and 50-Day Moving averages of $1.56 and $1.83 respectively. The stock is trading in the neutral zone with RSI stands at 47.