Choom Holdings Inc (OTCMKTS:CHOOF) Stock Attempts To Rebound After The Recent Fall

Choom Holdings Inc (OTCMKTS:CHOOF) stock moved up smartly in the previous trading session. The stock has taken a severe over the past 6-month with a fall of 50%.

Market Action

In Friday’s trading session, CHOOF surged 10% at $0.0485. More than 227k shares have exchanged hands, well above its average volume of 249k shares. The stock opened at $0.0426 and moved in a range of $0.0404 – 0.0485.

Choom : Cannabis Co. Announces Hamilton Store Opening

Here are the highlights:

Choom Holdings announced the launch of its latest retail store in Hamilton, ON (2190 Rymal Road East, Unit E-01, Hamilton, ON, L0R 1P0, Canada).

Choom continues its national retail store expansion with its latest Ontario store. The brand now has 17 operational retail locations across Alberta, Ontario, and B.C. Today’s announcement follows the August opening of the company’s Flagship location in Toronto’s Liberty Village and has plans to open additional locations in B.C. and Ontario over the next few months.

With continued provincial health and safety recommendations, the store will practice social distancing and will adhere to elevated safety and sanitization to protect the health and safety of customers and in-store employees.

Key Quote:

“Today marks the opening of our 3rd location in Ontario, another milestone for the brand” said Corey Gillon, CEO of Choom. “In bringing the Choom brand to Hamilton, we’re giving clients the opportunity to experience our elevated retail offering which supports our mission of providing the best retail experience in every market we serve.”

Trader Notes:

CHOOF stock is trading below all the key moving averages with 200-day and 50-Day SMA stands at $0.0744 and $0.0507 respectively. Over the past year, the stock has lost over 28% Will the stock be able to find the bottom and recover from the oversold zone?