1606 Corp (OTCMKTS:CBDW) Stock Rallies After Distribution Agreement With SurgePays, Inc.
Acquisition focussed CBD holding company 1606 Corp (OTCMKTS:CBDW) could be one of the companies to follow at this point in the CBD industry. The company was in focus on Tuesday after it announced that it had executed a distribution deal with the firm SurgePays Inc. As per the provisions of the agreement between the two parties, SurgePays would distribute the company’s hemp smokable products to its registered retail store customers, which run into thousands.
Trading Data
On Tuesday, CBDW stock moved up 16.57% to $0.0175 with more than 39.02K shares, compared to volume of 83.82K shares. The stock moved within a range of $0.0150 – 0.0200 after opening trade at $0.0150.
1606 Corp. Signs Product Distribution Agreement With SurgePays, Inc.
It was noted that SurgePays had already take hold of 1000 six pack displays and was engaged in distributing those to its registered retail customers. The six pack displays from 1606 Corp are ready to go point of sale displays which hold six packs of the traditional 20 packs of hemp smokables.
The company currently offers more than 50 individual products and it was also noted in yesterday’s press release that 1606 Corp was going to continue to pursue more such distribution partnerships. In fact, the company noted that several such deals were already in place and were in the due diligence phase. Considering the fact that there is now a growing demand for tobacco alternatives the deal may have come at just the right time.
