1606 Corp (OTCMKTS:CBDW) Stock Soars 230%: What’s The Buzz?
Acquisition-based CBD company, 1606 Corp (OTCMKTS:CBDW), on May 11, 2023, announced the production of $150,000 in new inventory for meeting demand from new distributors representing the company’s Brio Nutrition line of CBD products.
Trading Data
On Thursday, CBDW stock moved up 230.62% to $0.0610 with 1.14 million shares, compared to its average volume 101.03K shares. The stock moved within a range of $0.0175 – 0.0890 after opening trade at $0.0175.
1606 Corp Increases Production To Meet CBD Product Demand
Owned by 1606 Corp, Brio Nutrition is quickly growing the wellness CBD brand, recently secured a significant distribution deal with Cool Blue Distribution. Brio will be supplying CBD products to Cool Blue’s extensive network of more than 800 stores.
The company announced ordering $150,000 in new inventory for accommodating demand and a significant order is in the works. Products have been received well by consumers, leading to higher sales for 1606 Corp. Success of Brio Nutrition products is mostly due to high-quality, innovative CBD formulations. The firm has excelled through top-tier branding and packaging, resulting in a loyal customer base continuing to grow.
Greg Lambrecht, CEO of 1606 Corp said that the partnership with Cool Blue has been good, giving access to the network. Lambrecht added that the firm’s margins are good, so this is a good step both for CBDW and Brio.
1606 Corp. was spun off from Singlepoint Inc in 2021 and has added diverse CBD products under the Brio Nutrition line. The firm aims to acquire firms in CBD including distribution, brands,retail outlets, and manufacturing.
