Forza Innovations Inc. (OTCMKTS:FORZ) Stock Continues to Trend Lower: Down 10% in a Week

Forza Innovations Inc. (OTCMKTS:FORZ) stock continues to trend lower on Tuesday and extending its weekly loss to over 10%. The stock has done exceptionally well this year with a jump of over 80% since the beginning of the year.

Market Action

On Tuesday, FORZ closed lower by 11.50% to $0.27. More than 134k shares have exchanged hands, well above its average volume of 63k shares. The stock opened at $0.27 and moved in a range of $0.2474 – 0.2800.

August 16, 2021 – Forza Innovations Inc. Announces Manufacturing Agreement In Principle

Here are the highlights:

Forza Innovations announced that it has reached an agreement in principle with Tonjan Heating Technology to manufacture Forza Innovations WarmUp products. The Company and Tonjan will now work on finalizing a formal manufacturing agreement.

Tonjan Heating Technology, an industry leader of FAR infrared heated technology manufacturing and currently has products being sold in North America, Europe, Australia, and Asia. The manufacturer also produces for the brand names Milwaukee and Dewalt.

This full spectrum manufacturer has 15 years in business and specializes in how to properly cut and sew/embed wearable technology to the highest standards with less than a 2% defect rate. Tonjan is fully certified with both CE/UL testing and certification and Tonjan also owns 5 utility patents while continuously developing new innovative measures.

Key Quote:

Johnny Forzani, the Company’s President and CEO, commented, “I am incredibly excited to announce the agreement in principle with Tonjan. A reputable company that I have worked with in the past, in which we had great success. We are thrilled to be at the final stages of setting up the supply chain for our series 1 product line “Warm-up”. Working with this manufacturer brings us one step closer to bringing our product to market!”