Kaival Brands Innovation Group, Inc. (KAVL) is engaged in the growth and incubation of novel products into established and leading businesses in the market. Kaval is the sole international supplier of product range manufactured by Bidi Vapor.
The price of KAVL stock during the early trading hours on February 3, 2022, was $0.76 with a surge of 21.11%.
KAVL: Events and Happenings
On February 3, 2022, KAVL was updated about the grant of judicial stay to Bidi Vapor by the Court of Appeals for the Eleventh Circuit in lieu of the FDA-issued marketing denial order.
KAVL: CEO Comments
Speaking at the occasion, KAVL and Bidi Vapor CEO Niraj Patel stated that the company is expecting a rebounding of BIDI Stick sales after the judicial stay. He further added that BIDI Stick is apt for the protection of public health in view of the research performed.
On January 31, 2022, KAVL was notified about the late submission of its annual report. On January 31, 2022, KAVL updated about the receipt of notification from Nasdaq regarding non-compliance of the least closing bid price requirement of $1.00 per share. The common stock of the company was less than $1.00 per share for 30 days consecutive trading period.
On December 14, 2021, Bidi Vapor informed that most of the survey participants of e-cigarette smokers in the UK chose the BIDI Stick over other options. On December 6, 2021, KAVL reported on collaboration with Koupon for the creation of an E-engagement platform including Koupon’s online promotion program. The collaboration helped the BIDI Stick users in creating online opportunities based on their acquisitions.
On October 6, 2021, KAVL updated about attending the 2021 NACS show held on October 5-8, 2021. On October 4, 2021, KAVL announced the closure of its underwritten public offering of 4,700,000 shares of common stock and warrants to acquire 3,525,000 shares. The public price of common stock shares was $1.70 per share. The company reported net proceeds of $8.0 million.
Conclusion
KAVL stock just hit n new low in the year. A sharp decline of 96% was observed over the yearly period as the company is economically struggling in a pandemic. The stock of the company escalated in Thursday’s early trading session as the company announced Bidi Vapors judicial stay win.
