Plant based baby, children and toddler nutrition firm Else Nutrition Holdings Inc (OTCMKTS:BABYF) was in focus earlier on this month after the company announced that it had been awarded the FODMAP Certification.
That announcement was made by the company back on July 8. While that was a significant development for the company, it did not lead to much of a boost for the Else Nutrition stock. As a matter of fact, the company’s stock actually went on a downward spiral last week and ended up with losses of as much as 11% as investors headed for the exits.
Despite the losses recorded by the stock, it should still be remembered that the FODMAP Certification is a significant milestone for Else Nutrition. The certification indicates that the nutrition items that are being sold by the company are actually safe for consumption among people who might be suffering from IBS symptoms.
Hamutal Yitzhal, who is the Chief Executive Officer of the company, spoke about the matter as well. He stated that the FODMAN certification was highly important for the company since it supports stomach wellness. He went on to state that it is also in line with its strategic objective of Clean Label products.
Market Reaction:
On Friday, BABYF stock gained 1% at $2.04 with more than 237k shares, compared to its average volume of 154k shares. The stock had moved within a range of $1.9700 – 2.1500 after opening the trade at $2.15. Over the past 52-week, the stock has been trading within a range of $1.0200 – 4.0000.
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