Innovative Food Holdings Inc. (OTC: IVFH) Stock Continues to Trend Higher: Here is why
If you are currently looking into innovative companies to track, then Innovative Food Holdings Inc. (OTC: IVFH) could be worth your time, especially in light of the announcement from the company on Tuesday. Yesterday, the company was in the news cycle after it made an announcement with regards to a new acquisition.
Key Acquisition
In the news release from the national gourmet specialty food supplier yesterday, it was revealed that an opportunistic acquisition had been made. The acquisition question was the 100% takeover of the Florida-based LoCo Food Distribution LLC. The acquisition had been completed through Golden Organics Inc., a subsidiary unit of Innovative Food Holdings.
Key Details
The transaction had been completed for the total consideration of $357,699, and out of that, the cash element was for $304,269. The rest consisted of a one-year earnout payment to the tune of $53,430, which would be paid upon the hitting of certain EBITDA and revenue targets. However, that was not all. It was also announced that Innovative Food Holdings would also make an initial investment of around $375,000, which would work as working capital. It may be a good move for investors to keep an eye on the stock this week.
Technicals
| +/- EMA(20) | 1.83 (+8.74%) |
| +/- SMA(50) | 1.72 (+15.70%) |
| +/- SMA(200) | 1.35 (+47.41%) |
| 5-Day Perf. | +11.8% |
| 1-Month Perf. | +4.74% |
| 3-Month Perf. | +46.86% |
| 6-Month Perf. | +65.83% |
| YTD Perf. | +11.8% |
| 1-Year Perf. | +136.9% |
| RSI(14) | 70.28 |
| ATR(14) | 0.1 |
| ADX(14) | 31.45 |
| Beta (5Y) | 0.76 |
