Greene Concepts Inc. (OTC:INKW) Stock Jumps 15%: But Why?
As the trading week draws to a close, investors are going to continue to be as eager as possible to discover new stocks, and one of the stocks that could be in play today is that of Greene Concepts Inc. (OTC:INKW). On Thursday, the company came into the news cycle after Greene Concepts announced that it had bagged blanket purchase orders from retail behemoth Walmart for the six-pack variant of its BE WATER artesian spring bottled water product. In the news release, it was also announced that the order would begin shipping every week through the course of 2024 and beyond.
The company noted that the first order had been scheduled for pickup by Walmart on May 2 or May 3. Eventually, the products would be placed in the brick-and-mortar stores of the retailer ahead of the commencement of the summer season. The latest announcement from Greene Concepts was in line with the update it had provided with regards to Walmart shelf placement in May 2024. Additionally, the company had also sent out a press release in which it stated that 2024 was going to be a landmark year for Greene Concepts.
The Chief Executive Officer of Greene Concepts, Lenny Greene, spoke about the latest development on Thursday. He noted that the distribution of BE WATER to the brick-and-mortar Walmart stores had started. However, more importantly, he noted that the blanket orders placed by the retail giant were an indication that the BE WATER product would grow its presence in the foreseeable future. Greene stated that the company was fully prepared with regards to packaging, freight loading, and production in order to meet the demands of the legions of Walmart customers. Lastly, he stated that the bottle water market was worth $44.6 billion last year and was projected to grow at a CAGR of 5.9%.
