If you are looking into stocks which made strong moves on Tuesday, then it could be a good time to look into the Grand Havana Inc (OTCMKTS:GHAV) stock, which ended the day with gains of as much as 5%.
On Tuesday, GHAV stock jumped 5% at $0.0210 with more than 448k shares, compared to its average volume of 817k shares. The stock has moved within a range of $0.0190 – 0.0218 after opening trade at $0.0210.
Grand Havana Cafe Coming to Puerto Rico
The company came into focus yesterday after it announced that it had commenced negotiations with AM:PM City Market Corp with regards to the acquisition of its portfolio of businesses based out of Puerto Rico. The locations at San Juan and Isla Verde are also included in these negotiations. If these acquisitions do go through then the company is going to turn the stores into Grand Havana Cafe outlets.
It was a significant development and the optimism among investors with regards to the possibility of the opening of new Grand Havana Cafe outlets is understandable.
In addition to that, investors out to keep in mind that City Market Corp has been doing business with the company for some time and Grand Havana Coffee is already part of the portfolio of stores that it has under its control. At this point in time, it could be a good idea for investors to keep an eye on the developments with regards to the negotiation.
GHAV stock is trading below the 20-Day and 50-Day Moving averages of $0.0234 and $0.0268. Moreover, the stock is trading below the 200-Day moving average of $0.0248. The stock is down 16% over the past month.