Branded Legacy Inc (OTCMKTS:BLEG) Stock Continues to Fall: Down 32% in a Week

It has been a harrowing time for investors in Branded Legacy Inc (OTCMKTS:BLEG) in recent days as the stock continued to slide yesterday and ended the day with a decline of as much as 20%. It is a holding company that is involved in developing hemp and CBD based beverages commercially.

Market Stats

On Tuesday, BLEG stock plunged 20% to $0.0402 with more than 13.3k shares, compared to its average volume of 26.22K shares. The stock has moved within a range of $0.0402 – 0.0479 after opening trading at $0.0479.

Branded Legacy, Inc. Reports Sales Growth

The decline in the stock on Tuesday actually stretched its losses for the past week and took it to as much as 32%. Yesterday, the company was in focus after it made key announcements with regards to its operations. Branded Legacy noted that it had made major changes to its production as well as operations after a new management was put in place.

The management team has attempted to boost sales over the course of 2021 and it bore fruits in December 2021. For the month of December so far, the sales have already gone up by as much as 20% when compared to December 2020. In addition to that, Branded Legacy also noted that its two brands Elev8 and CBDX have both managed to add new products this year. Despite the fall in the share price in the past few days, it may not be a bad idea to keep the stock in your watch lists.

Key Quote

Vice President of Branded Legacy, Matthew Nichols, comments, “2022 is going to be a great year for Branded Legacy, Inc. The entire executive team has one focus: the success of the Company. The addition of President Brandon White has been paramount in this mission. We have some very exciting things coming down the pike.”