Nightfood Holdings Inc. (OTCMKTS:NGTF) Stock Sees Selling Pressure At a Higher Level

March 16, 2022March 16, 2022 Madison Hall $NGTF, $NGTF news, $NGTF stock, $Nightfood Holdings Inc. (OTCMKTS:NGTF), $OTCMKTS:NGTF

Nightfood Holdings Inc. (OTCMKTS:NGTF) is down 17% in a month. The sleep-friendly snack firm targeting the $50 billion spent by Americans annually on nighttime snacks has announced that iDEAL Hospitality Partners will exhibit and promotes Nightfood snacks during the Asian American Hotel Owners Association (AAHOA) 2022 summit and trade show happening in Baltimore between April 12 and April 15, 2022.

Market Stats

On Tuesday, NGTF stock fell 2.05% to $0.1575 with more than 76K shares, compared to its average volume of 139K shares. The stock moved within a range of $0.1510 – 0.1747 after opening trading at $0.17.

IDEAL Hospitality Partners to Showcase Nightfood at Major Hotel Industry Trade Show

AAHOA is the biggest hotel owner’s association nationwide, with 20,000 members owning around 60% of hotels in the US. In 2021, the associate attracted almost 6,00 attendees.

As per the American Hotel & Lodging Association, the top five hotel chains account for almost 26,000 properties out of the 56,000 overall hotels in the US. Nightfood intends its sleep-friendly branding and formulations to act as a distinctive and robust competitive edge over traditional snacks in the hotel store setting following a positive retail pilot survey by a large international hotel brand in 2021. Therefore in the coming weeks, NGTF is worth watching.

Key Quote

“We believe hotel lobby shop distribution offers Nightfood a clear path to rapid growth and profitability,” commented Nightfood founder and CEO Sean Folkson. “We have now established relationships with our first global hotel brand, a leading hospitality-industry group purchasing organization, and the largest snack distributor in the hospitality vertical. With an anticipated increase in awareness through AAHOACON, we believe the pieces are in place for significant growth in 2022.”

Traders Corner

NGTF stock is trading below the 20-Day and 50-Day Moving averages of $0.17 and $0.19 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.22.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.