Communication from the top management of a company can often lead to a degree of positivity among shareholders and that is what seemed to have happened yesterday in relation to the Bloomios Inc (OTCMKTS:BLMS) stock.
Market Action
On Wednesday, BLMS stock soared 20% to $1.30 with 320 shares, compared to its average volume of 32 shares. The stock has moved within a range of $1.2500 – 1.3000 after opening trade at $1.25.
Bloomios Shareholder Update & Growth Strategy
Michael Hill, the Chief Executive Officer of the company, issued a letter to the Bloomios shareholders on Wednesday with regards to the growth strategy and some recent developments. The letter seemed to have been well received by investors and the Bloomios stock ended the day with gains of as much as 20%. In this situation, it might be a good idea to take a closer look at what Hill stated in the letter.
He noted that although the company only went public earlier on this year, Bloomios remained committed to providing high quality hemp related products at affordable prices. In addition to that, he noted that the company was committed to eventually emerge as the leader in the hemp based products manufacturing space and wished to back some of the most recognised brands in the industry in the future. In addition to that, Hill also pointed out that the company’s cash flow and financing have helped Bloomios in acquiring new software as well as hardware.
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