Better For You Wellness Inc (OTCMKTS:BFYW) Stock Suddenly Falls 17%: But Why?

The health and wellness industry has managed to grow by leaps and bounds in recent years and there have been many companies which have managed to clock considerable gains.

Market Action:

On Wednesday, BFYW stock fell 16.67% at $0.1150 with more than 832.85K shares, compared to its average volume of 876.61K shares. The stock has moved within a range of $0.1107 – 0.1580 after opening the trade at $0.1580.

Signs LOI to Acquire Mary Louise Cosmetics

However, on Wednesday the Better For You Wellness Inc (OTCMKTS:BFYW) stock did not have a particularly great time in the markets and ended the day with a decline of as much as 17%. Yesterday, the company was in the news after it made an announcement with regards to the fact that it signed a non binding letter of intent related to the potential acquisition of the company Releford Enterprises Inc.

In this context, it might be a good idea to take a closer look at Releford Enterprises. The company, which is also known as Mary Louise Cosmetics, had been established back in 2017 and since then it has made a name as a notable beauty brand.

At this point in time, the company’s products are sold directly to customers through its website and also through some of the better known retail outlets like Macy’s, Thirteen Lune and JC Penny among others. The acquisition could prove to be a major one for Better For You Wellness and hence, investors could add its stock to the watch lists.

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