TAAT Global Alternatives Inc (OTCMKTS:TOBAF) Stock Sees Profit Booking At Higher Level
The selloff in the markets in recent days has led to pain for many investors and those who had invested in TAAT Global Alternatives Inc (OTCMKTS:TOBAF) could not escape it last week. Despite a key announcement from the company last Friday, the stock could not arrest the slide and went down by 4%.
Market Stats
On Friday, TOBAF stock slid 4.28% to $2.46 with more than 108k shares, compared to its average volume of 160k shares. The stock has moved within a range of $2.4000 – 2.6000 after opening trading at $2.60.
TAAT™ Grows Northeastern U.S. Footprint with 350 Additional Stores in Virginia
That took the cumulative losses for the previous week to as much as 8%. At this point, investors could do well to take a closer look at the actual announcement made by TAAT Global. The company announced that its Smooth, Menthol and Original variants of cigarettes are going to be sold in as many as 350 retail outlets in the state of Virginia.
It should be noted that the state boasts of a population of 8.5 million and as much as 14% of the adult population smoke cigarettes. Hence, it was a significant announcement from the company. It should be noted that prior to this, the TAAT Global cigarettes had been made available through a total of three stores in the city of Richmond in the state. The significant announcement could not arrest the slide in the stock and it remains to be seen if the TAAT Global stock can make a recovery this week.
Traders Corner
TOBAF stock is trading below the 20-Day and 50-Day Moving averages of $2.54 and $2.74 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.97.
