On January 06, Kaival Brands Innovations Group Inc. (KAVL) stock rallied to gain a huge 24.11% during regular trading. Consequently, the stock witnessed a fall in the after-hours due to corrections.
In the regular session, the stock fluctuated between $0.71 and $1.08 at 22.8 million shares. KAVL stock closed the session at $0.7633 with a gain of $0.1483 on Thursday. Following the gain, the stock lost 8.29% in the after-hours as it fell under corrections. Hence, the stock was trading at $0.70 per share in the after-market session.
The development stage company, Kaival Brands Innovations Group Inc. has a market capitalization of $17.42 million. Currently, the company has 28.33 million shares outstanding in the market.
KAVL Stock Movements
On Thursday, KAVL traded at a heavy volume of 22.84 million, which was 447% of its 65-day average. The huge volume drove the stock up to reach a high of $1.08 during the regular session. While there was no news from the company, the stock added a huge 24.11% in the session. Ultimately, the huge gain led the way towards a fall in the after-hours. Therefore, the stock fell under corrections in the after-hours to shed its gains.
To look further at the movement of the stock, KAVL has added a small 2.42% in the past five days. Moreover, it has declined by 25.17% last month and 40.83% in the past three months. Further, the stock has subtracted a huge 89.90% in the past year.
Recent Developments
KVAL is responsible for the exclusive global distribution of Bidi Vapor LLC’s products including BIDI® Stick. The BIDI Stick is a disposable electronic nicotine delivery system for adults aged 21 or above.
On December 14, the company announced that according to a recent survey of e-cigarette in the U.K., BIDI® Stick was preferred by 80% of the participants. The research was conducted by Voccii LLC market research company for understanding BIDI® Stick’s performance abroad. As per the conclusion of the survey, “any flavors should do well in the market”. Furthermore, the survey compared the BIDI Stick against all types of devices including cartridges, pods, and other disposable e-cigarettes.
KVAL’s Partnership with Koupon
On December 06, the company announced its partnership with Koupon for an electronic engagement program. According to the partnership, customers who buy BIDI Stick will receive offers of digital opportunities based on their purchases.
Further, the consumers of BIDI Stick (age-verified) would be able to access Koupon’s technology-based digital promotions. The customers can then redeem the promos at retail outlets of the company’s distribution network.
