Publicly traded company of diversified industry-specific Group Purchasing Organizations ,GPO Plus (OTCMKTS:GPOX) on April 19, 2022announced launch of Phase One of the newest GPO as well as distribution division Distro+.
On Tuesday, GPOX stock soared 10% to $0.28 with 4K share, compared to its average volume of 21K shares. The stock moved within a range of $0.2500 – 0.2800 after opening trade at $0.28.
A Group Purchasing Organization, which is a distributor of premium products for retail as well as wholesale sector, DISTRO+ gives customers competitive pricing. This helps them realize similar discounts as major retailers with significant buying power.
DISTRO+ is making a portfolio of “best in class” high-quality innovative as well as fully compliant products. This includes brands having multiple categories focusing on hemp-derived CBD packaged goods, vaping/smoking hardware as well as accessories.
DISTRO+’s Members represent online stores, specialty retailers, and wholesalers organized into a number of categories. DISTRO+ aims to rapidly scale up a vertical roll-up strategy for attracting regional and independent distributors. This will be done by providing resources as well as credibility to maximize revenue potential.
CEO of GPOX, Brett Pojunis said that Distro+ facilitates saving money and simplifying purchasing through the activation of Group Purchasing. Pojunis added that the initial goal is to introduce DISTRO+ to the network for commencing signing up brands to represent retailers to join as Members. Users may connect with the firm’s social media handles to view live video updates, general information as well as the content.
“DISTRO+ helps retailers save money and simplify purchasing by activating the power of Group Purchasing,” said Brett H. Pojunis, CEO of GPOX. Pojunis continued, “Our initial goals are to introduce DISTRO+ to our network to start signing up brands to represent, retailers to join as Members and identify distributors we can acquire.”
GPOX stock is trading below the 20-Day and 50-Day Moving averages of $0.29 and $0.54 respectively. Moreover, the stock is trading is the neutral zone with RSI stands at 46.