Over the past year or so, there has been a fair degree of focus on plant based alternative meats companies from among investors and the latest company to have caught fancy of investors is the Tokyo based alternative meats company Next Meats Co (OTCMKTS:NXMH).
Yesterday, the stock experience heavy action and went up by as much as 30% as investors piled on to it in a big way. Although there was no news about the company yesterday, it might be related to the announcement from Next Meats last week with regards to its collaboration with the American burger chain Wayback Burgers.
It is a major development for Next Meats considering the fact that Wayback is currently the fastest growing burger chain in the United States. However, that was not the only announcement from the company.
Next Meats also revealed that its NEXT Yakiniku Short Rib will also be made available in the United States through its e-commerce platform from Wednesday, June 23, 2021. There is considerable anticipation with regards to the launch of the company’s online shop and both these announcements have also led to optimism among investors with regards to Next Meats’ prospects in the United States. Investors could consider keeping the stock in their watch lists at this point.
Market Reaction:
On Monday, NXMH stock jumped by 30% to $4.57 with more than 66K shares, compared to its average volume of 20k shares. The stock has moved within a range of $3.6000 – 5.2100 after opening the trade at $3.65. Over the past 52-week, the stock has been trading within a range of $0.0070 – 14.5000.
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