Jupiter Wellness (NASDAQ:JUPW) Stock Continues to Trade Lower: Time to Buy?
Leading developer of skin care treatment and therapeutics Jupiter Wellness (NASDAQ:JUPW) on 19th July announced a multi-year agreement with Rigour International LLC. The agreement will enable Rigour to be exclusive distributor of Jupiter’s Wellness Products in China and non-exclusive distributor for Korea, Hong Kong and South East Asia.
The agreement will allow Rigour International the right to commercialise and distribute Comfort Cream, Radiant Relief, Fit CBD,Canisun Sunscreen Products, Temple Tonic as well as other topical skin care brands in the country.
With operational center in Zhengzhou China and leader in skincare, beverages, novel dietary supplements as well as wellness product development, Rigour has over 300 million consumers in Asia.
The company is a leading distributor of PenfoldsAustraillian wines in China and its scientific team of academics evaluate and assess brands to determine ability to comply with regulatory requirements in China.
Brian John, CEO, Jupiter Wellness, said that the valued partnership will maximise the reach of the company’s products and looks forward to working with Rigour’s team for further in the Chinese marketplace. John added that the company is keen on leveraging strong distribution channels for exploring novel ways of promoting and marketing its brands, deepening their reach to consumers in the country.
Market Reaction:
On Monday, JUPW stock fell 2.60% at $4.10 with more than 153k shares, compared to its average volume of 145k shares. The stock has moved within a range of $4.0100 – 4.2593 after opening the trade at $4.21. Over the past 52-week, the stock has been trading within a range of $3.6000 – 8.8800.
