Innovative Designs Inc (OTCMKTS:IVDN) Stock Soars 50% in a Week: What’s The Buzz?

Innovative Designs Inc (OTCMKTS:IVDN) stock has been gaining momentum over the past week with a jump of 50%.

Market Action

In the previous trading session, IVDN stock ended flat at $0.38. A total of 50k shares traded for the session hands, above its average volume of 20k shares. The stock opened at $0.38 and moved in a range of $0.3800 – 0.3900.

Key Trigger

Innovative Designs Adds New House Wrap Distributor

Innovative Designs Inc. (OTCPK: IVDN) has received a signed distributorship agreement from Construction Component Sales Inc, to represent its Insultex House Wrap. Construction Component Sales, Inc. (CCSI) is an independent sales agency, representing building products manufacturers in Texas, Oklahoma, and Louisiana. It was founded in 2004 and is headquartered in Houston, Texas.

Their services include product marketing, sales support, technical and installation training, and supply chain consulting to all participants in each product’s custody chain. They currently have business relationships with the following list of companies: Homasote, Tytan Professional, Backyard Elements, E-Z Gutter Guard, Nichiha, Indital, Sagiper PVC Siding, Wall/Ceiling, Magtech, Therma Wood Technologies, Perma R Products, Getzner Sound Proofing, Cox Contemporary Barn Doors, CMT Orange Tools and Ultra Aluminum Fencing & Railing.

Key Quote:

Chris Strong, President of Construction Component Sales, Inc, commented, “We entered into this distributorship agreement because of the amazing technology this product has to offer. Before we decided to represent this product, we introduced it to our key accounts. The response has been extremely positive. The efficiencies of this product compared to other insulation outweighs all the others. This long-term relationship we are entering into with Innovative Design is a great match. We only represent world class companies. We expect Insultex House Wrap to become a top tier product with us very quickly.”