Alliance One International, Inc. (NYSE:AOI) recently saw its volume around 0.48 million shares and on average it trades 0.04 million shares a day. The opening price of $16.45, led it to gain 21.32% to reach $19.35 upon the closing bell.
Alliance’s wholly owned subsidiary Canadian Cultivated Products, Ltd. has purchased a 75 per cent stake in Prince Edward Island-based Canada’s Island Garden Inc. and an 80 per cent stake in Ontario-based Goldleaf Pharm Inc., the company announced in a press release on Thursday that accompanied its Q2 earnings. The company did not reveal how much it paid for the two Canadian companies. The company reported better-than-expected fiscal third-quarter earnings. It earned $9.80 per share on revenue of $477 million.
The acquisition move echoes the $245-million investment that leading U.S. alcohol company Constellation Brands made in Canopy Growth Corp. back in October. That was widely seen as a hedge by Constellation, which owns beer brands like Corona, against the potential for cannabis use to displace alcohol consumption.
Compared with Canopy, Canada’s Island Garden, PEI’s only licensed producer, is tiny. A recently announced 1,000 kilogram supply contract with the PEI government will take up most of the LP’s current crop, said CEO Edwin Jewell.
The company, however, is planning to expand its 20,000-square- foot facility to 250,000 square feet over the next several years. The expansion could cost $25 million to $40 million, Jewell said.Alliance One International, Inc. (NYSE:AOI) Intraday View
This stock (AOI) is ahead of its 52-week low with 96.45%. Its last month’s stock price volatility remained 11.39% which for the week stands at 4.88%. The share price has moved forward from its 20 days moving average, trading at a distance of 45.98% and stays 45% away from its 50 days moving average. Over the last five days, shares have managed 51.17% gains and now is up 51.83% since hitting its 200-day moving average of $12.37. Alliance One International, Inc. (AOI) has made its way to a 12-month gain of 27.72%.
Turning to Cenveo, Inc. (NASDAQ:CVO), its shares were trading at $0.19 a retreat of $-0.04, on the trading floor. The stock, after opening at $0.25, touched a high of $0.25 before paring much of its gains. So far, analysts are sticking with their neutral recommendations with the consensus call at 2. Cenveo, Inc. has 0 buy ratings, 0 holds and 0 sells even after the stock tumbled -97.21% from its high of $6.63 to a $2.2 million market value through last close.
The reason for such big loss is that a key Cenveo Inc. bondholder is calling for an investigation over serious concerns about the propriety of a pre-arranged bankruptcy plan proposed by the commercial printer and envelope maker.Cenveo, Inc. (NASDAQ:CVO) Intraday Trading
The counter witnessed a trading volume of 1.93 million shares versus an average volume of 1.27 million shares during last trading session. Its last month’s stock price volatility remained 31.43% which for the week approaches 25.73%. The lowest price the stock reached in the last trading day was $0.181 and compares with the $0.22 52-week low. The stock recovered -15.91% since its low point and has performed -79.44% year-to-date.