Item 9 Labs Corp (OTCMKTS:INLB) Stock In Action After The recent News
Item 9 Labs Corp (OTCMKTS:INLB) stock is witnessing continuous selling pressure this morning and now down 25% over the past month,.
Market Action
As of 10:28, INLB stock is trading lower by 5.50% to $1.55. A total of 2.33k shares traded for the session hands, above its average volume of 18.5K shares. The stock opened at $1.46 and moved in a range of $1.4600 – 1.6800.
Key Trigger
Item 9 Labs Corp. Bolsters Marketing Team with Multiple Key Hires
announced that the Company has added a senior-level marketing executive and a mid-level marketing professional to its marketing team. Their focus is on managing and advancing the accelerated sales and brand momentum that the business is experiencing nationally across its cannabis dispensary franchise, Unity Rd., and high-quality cannabis brand, Item 9 Labs. The hires include:
Kristen Mathis, Vice President of Marketing: Mathis has 15 years of successful brand and sales-building experience, both corporate and agency, in a variety of consumer package goods (CPG) spaces. With deep expertise in direct-to-consumer, omni-channel marketing campaigns, she will lead the Company’s marketing department, re-position strategic objectives and define the most impactful tactics to drive true incremental growth across the Company and its brands. Recently, Mathis served four years as Head of Brand, Marketing, Creative + Social for Dansons Portfolio, where she built her department from four to 28 employees, created affiliate marketing programs, launched paid and email marketing, and introduced a variety of social media strategies — including partnerships with NASCAR and ESPN. Many of these campaigns were deemed highly profitable wins for the brands.
Emily Gritti, Senior Manager, Trade Marketing & Events: Gritti brings a strong seven-year marketing track record in various CPG spaces in which she designed and successfully implemented digital merchandising, social media content, email marketing strategies, local events, street team & brand rep. management and more to build brand value and revenue growth. In her new role, she will be building holistic, best-in-class trade marketing programs to foster growth, retention, engagement and sales for the Company’s dispensary and franchise partners. She will also be leading events, demonstrations and ground-level marketing strategy to further support top-line corporate priorities and growth objectives.
A brand marketing consultant with an impressive track record comprised of branding and marketing highly recognized national CPG and retail brands – including several years’ experience building cannabis and celebrity-driven CBD brands, many from their conception and launch. This consultant—whose name is withheld due to competitive considerations—will provide cannabis-specific brand experience design strategy, innovation, direct-to-consumer and brand-family integration expertise to round out the new marketing team hires.
Key Quote:
“We are moving swiftly on our growth initiatives and building up our marketing team with high-level talent, which is a top focus as we are solidifying our current position and plotting our entrance into new markets with our Unity Rd. and Item 9 Labs brands,” said Item 9 Labs Corp.’s Chief Executive Officer, Andrew Bowden.
Trader Notes:
INLB stock has underperformed recently with a fall of over 57% in the past 6-month. On the technical basis, the stock is trading below its 50-day and 200-Day SMA stand at $1.97 and $2.90 respectively. Moreover, RSI at 39 signals that the stock is trading near the neutral zone.
