NxGen Brands Soars 150% in a Week After Announcing New Products
NxGen Brands Inc. (OTCMKTS:NXGB), which owns LeafyWell, is one of the more interesting companies at this point in time. The company is involved in gaining equity, acquiring, merging, or creating a joint venture with early-stage companies in a range of emerging industries. NxGen then helps those companies with growth, generation of cash flow and also boost the distribution channels.
Newly Added PPE And FDA Registered Cleaning and Disinfectant Product Lines
It is still looking for the acquisition of companies that are involved in fast-growing industries. Its subsidiary LeafyWell for instance is involved in the high growth CBD (Cannabidiol), and Cannabigerol (CBG) products manufacturing and distribution space, and its products are already available in select retail outlets in the United States.
On Wednesday, the company made a major announcement that was welcomed by investors and also triggered a rally in its stock. NxGen Brands announced that it added a completely new product line cleaning and disinfectant product line to its investment portfolio. The products in question include cleaning supplies for residential, commercial, and industrial purposes as well as disinfectants and sanitizers.
The products in question are meant to be used in factories, bars, restaurants, casinos, educational institutions, and a range of properties in the travel sector. In addition to that, it is important for investors to note that NxGen has also given its customers the option to purchase these products in a range of sizes. The company is trying to do the act of purchasing as easy as possible.
The news resulted in a strong 40% jump in the stock on Wednesday, and it hit a new high of $0.39 a share. In this regard, it is necessary to mention that the stock has been performing impressively over the course of the past week. During the past week, it has rallied by as much as 150%, and in such a situation, it is perhaps important for investors to take a closer look at the company.
The Chief Executive Officer of NxGen Brands, Angel Burgos, stated that the company had been trying to identify new products that could be offered to the public in addition to its CBD and CBG products from LeafyWell. He went on to add that he anticipates that this new line of products is going to be well-received considering the high demand for those in the United States at this time.
Earlier on in July, the CEO had also stated that the company registered a range of products with the United States Food and Drug Administration with a view to fighting the current coronavirus pandemic. Those products in question were the cleaning and disinfectant line that the company announced on Wednesday. The latest developments have made NxGen a point of interest for many investors, and it remains to be seen if the stock can keep adding to the gains.
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