Alkame Holdings Inc (OTCMKTS:ALKM) announced this morning that it has started fulfilling the Personal Protection Equipment (PPE) sales contract that it had signed with Aladyn Protection Systems Inc.
The news has come as a boost to the Alkame stock, which has rallied by 12% at the time of writing. Along with this update, the company also noted that while its PPE business continues to run, it is currently engaged in further expanding its co-packing operations. The company is accomplishing that through new product development backlog.
Earlier on in the week, the stock had enjoyed another rally after the company announced that as many as 12 of its portfolio companies were at different stages of product development. Some of the companies were even testing their products so as to introduce them to the market eventually. In addition to that, as COVID 19 restrictions are being eased, Alkame is now in the process of onboarding another 12 companies on to its portfolio as well.
Market Reaction
ALKM stock gained 10% to $0.0029 with more than 38.13 million shares traded hands, well above its average volume of 69.60 million shares.
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