Branded Legacy Inc. (OTC:BLEG) Stock Rallies 22%: What’s the Buzz?

Investors are going to look into those stocks this morning that recorded significant gains on Thursday, and hence, the Branded Legacy Inc. (OTC:BLEG) stock is expected to be in the mix. The stock had come into sharp focus yesterday and ended up with gains of as much as 22%.

The biotech leader announced yesterday that it had retired 400,000,000 more shares of its common stock, bringing the total number of shares to an even 2 billion. The major move made by Branded Legacy was part of its larger strategy to boost value for its shareholders. However, that was not all. The company also made an announcement about recent acquisitions, which took its portfolio of assets to more than $1 billion.

The Chief Executive Officer of Branded Legacy, David Oswald, stated yesterday that the company was keen on delivering more for its shareholders. Hence, there was expectation that more shares would be retired in the upcoming months. He cited the retirement of 2 billion shares as a demonstration of Branded Legacy’s commitment to its fiduciary responsibilities as a company and a healthy share structure. The company’s move to reduce the number of shares in circulation in the market is aimed at boosting the value of the remaining shares for the benefit of its shareholders.

Additionally, the company announced that it had completed the successful purchase of highly efficient analytical and chemical recycling equipment that enabled Branded Legacy to hit new levels of efficiency. The company stated that the machines operate together and help with the recycling of the chemicals that are used in purification and analytical processes. Branded Legacy also revealed that its team was engaged in the final details of an acquisition worth $6 million. The company called it a strategic move that would further boost its product offerings.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.