Bergio International Inc. (OTCMKTS:BRGO) Stock Continues To Consolidates Amid Lack of Triggers
Bergio International Inc. (OTCMKTS:BRGO) stock continues to trend lower on Wednesday. The stock has not done well this year with a fall of over 28% over the past month.
Market Action
On Wednesday, BRGO closed lower by 2.70% to $0.0072. More than 6.59 million shares have exchanged hands, well above its average volume of 20.12 million shares. The stock opened at $0.0075 and moved in a range of $0.0069 – 0.0075.
Bergio International Expands Overseas Jewelry Manufacturing To Scale For Q4 & To Meet Ever-Growing Consumer Demand
Here are the highlights:
Bergio International, Inc. (“Bergio,” or the “Company”) (OTC PINK:BRGO), an American holding corporation and global leader in fine and fashion jewelry expands international jewelry manufacturing in Armenia to accommodate growing customer and market demand for Q4 scale. Bergio forecasts to at minimum double its year-to-date sales in the last quarter of the year, the “Golden Quarter” in eCommerce.
Armenia’s labor force is as competitive in price and speed as the Far East and has been consistently growing stronger. This thriving region is well-known for advanced skills and high ethical standards in jewelry manufacturing, making it a desirable global hub. Armenia is also a key gateway to launch Bergio into the key Russian market.
Since going public in 2008, Bergio’s vision has been to expand and diversify its global and digital presence. This year it acquired Aphrodite’s, a fast-growing digitally native jewelry e-tailer, for $5 million, and GearBubble, a B2B e-commerce POD (print on demand) and fulfillment platform, for $3.2 million.
Solidifying overseas manufacturing will help to pivot quickly to launch out new styles weekly and to boost inventory on product styles that become popular. Since the jewelry will be manufactured within the Bergio supply chain, the quality will remain high to align with its’ brand value and promise.
Key Quote:
CEO Berge Abajian is on a tour of Armenia, meeting with key leaders to gear up operations for economies of scale and to finalize the last stage to acquire a jewelry manufacturer which will solidify Bergio’s vision to control its end to end vertical manufacturing chain.
Trader Notes:
BRGO stock is trading above all the key moving averages with 50-day and 20-Day SMA stand at $0.0067 and $0.0065 respectively – signaling a strong momentum. Moreover, RSI stands at 59 – giving a neutral sign.
