Bergio International (OTCMKTS:BRGO) is up on big volume Wednesday morning.
Market Action
BRGO is up big this morning. As of 11:45, shares are trading at .0253 up .0184 gaining 266% on the day. Volume is 416 million shares over forty times its daily average. Trading opened at .0071 and has ranged between the opening low and a high of .0335.
BRGO Releases Acquisition News
Bergio International (OTCMKTS:BRGO) issued a release pre-market Wednesday. Highlights include:
- BRGO has announced its intent to acquire 51% of the assets of GearBubble, a premier e-commerce fulfillment platform with over $27 million in revenue from 2020.
- For the past four and a half years, GearBubble has processed over $130 million in sales, with over 5 million units sold, and currently has a positive bottom line.
- Under the terms of the deal, BRGO will form an acquisition subsidiary that will own 51% of Gear Bubble’s assets, for which BRGO will pay $2 million at closing in cash and an additional $1.162 million in 15 subsequent monthly cash payments.
- The acquisition of GearBubble’s assets will strengthen BRGO’s expansion into e-commerce and further increase the product categories they offer.
Traders Notes
BRGO has been trading sideways for the last month. Today’s action will put BRGO on many watch lists for sure. Obviously, BRGO is trading above all its major moving averages today, but traders should see if the stock continues to pull back. It will be interesting to see if BRGO can hold above .02 which was an area or resistance back in March. If so that may be a bullish sign for the next few days.
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