SponsorsOne Inc (OTCMKTS:SPONF) is moving a bit lower this morning after the news. Nevertheless, the stock has already surged about 50% over the past week.
SponsorsOne Increases Production Capacity to Meet Demand for Doc Wylder’s
- SPONF announced today the execution of a co-packing/production agreement with Brand Force LLC, in Southern California and a partnership with Power Brands.
- This new production relationship will facilitate up to 200 cans per minute four times faster than our current provider capacity and represent 50,000 cases per month. We further plan to engage with Brand Force’s supply chain, representing significant cost savings. Additionally, bottling options outside the USA could be provided as we expand our distribution internationally.
Myles Bartholomew, CEO of SponsorsOne, said: “Demand for Doc Wylder’s has exceeded our existing production provider’s capacity, and we are excited to partner with Brand Force, who will produce Doc Wylder’s on both coasts. Producing on both coast reduces logistics costs and time to market as we scale Doc Wylder’s across the USA and internationally”.
Market Action
As of 10:38, SPONF stock is trading lower by 6.78% to $0.0319. The stock has witnessed volume of 7.88 million shares, compared to its average volume of 7.55 million. The stock has moved within a range of 0.0290 – 0.0353 after opening the trade at $0.0353.
Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 0.0176 | 0.0213 | 0.0277 | 0.0314 | 0.0378 | 0.0415 | 0.0479 |
| Fibonacci | 0.0213 | 0.0251 | 0.0275 | 0.0314 | 0.0352 | 0.0376 | 0.0415 |
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