Is TAAT Global Alternatives (TOBAF) Stock Ready To Jump After The Consolidation?
The disruption to the traditional tobacco space has been an ongoing theme and one of the many companies that could be tracked by interested investors is TAAT Global Alternatives (OTCMKTS:TOBAF).
The company recently started selling its product Beyond Tobacco at retail outlets and yesterday, it announced its performance after it completed a first full quarter of selling it. The company announced that the revenues grew by as much as 300% from the previous quarter and one of the major highlight from the performance was the continued rollout of its Beyond Tobacco product.
It is a product that has no addictive attributes but smells and tastes exactly like tobacco. Hence, it is regarded as an alternative to traditional tobacco products. However, this is one difference that investors ought to keep in mind. The company is not actually trying to attract new customers with this product but targeting those who are already smokers.
In particular, TAAT is looking to provide a solution that can help them in quitting smoking altogether. The smoking cessation market is massive in size at a global level and the performance of Beyond Tobacco in the first completed quarter could be a source of optimism for many investors. The TAAT stock went up 4.5% yesterday.
Market Reaction:
On Wednesday, TOBAF stock gained 4.48% at $2.54 with more than 166k shares, compared to its average volume of 147K shares. The stock has moved within a range of $2.5400 – 2.6500 after opening the trade at $2.60. Over the past 52-week, the stock has been trading within a range of $0.1000 – 4.7400.
