Bevcanna Enterprises Inc (OTCMKTS:BVNNF) Stock Trends Lower: Will It Rebound?
Bevcanna Enterprises Inc (OTCMKTS:BVNNF) stock continued to trade lower on Wednesday and extending its monthly fall to 20%. Will the stock rebound?
Market Action
In Wednesday’s trading session, Tuesday closed lower by 3.50% to $0.2398. More than 82K shares have exchanged hands, above its average volume of 173K shares. The stock opened at $0.2521 and moved in a range of $0.2383 – 0.2530.
BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) Diversifies to Seize Health, Wellness Opportunity
Here are the highlights:
Bevcanna Enterprises announced its placement in an editorial published by NetworkNewsWire (“NNW”), one of 50+ trusted brands within the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities.
As part of the reopening economy, investors should be monitoring several trends in the healthcare space, including several that fall in the “natural wellness” or “natural alternatives” categories. The COVID-19 pandemic shone a bright light on lifestyle and self-care as people were encouraged, and often mandated, to stay at home. The trend further points to the next phase of cannabis market maturation, dubbed cannabis 3.0, against the backdrop of legislators discussing the Cannabis Administration and Opportunity Act that would create a national market for marijuana.
Looking to address this opportunity, BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) has been expanding and diversifying its business in 2021 from its core business as a high-capacity cannabis beverage company into a diversified health and wellness company through a number of accretive acquisitions.
Trader Notes:
BVNNF stock is trading below all the key moving averages with 200-day and 50-Day SMA stands at 0.56 and $0.33 respectively. Over the past year, the stock has soared over 55%. Will the stock be able to find the bottom and recover from the oversold zone?
