SLANG Worldwide Inc (OTCMKTS:SLGWF) Stock Gains Momentum: Jumps 9%

January 10, 2022January 10, 2022 Jon Williams OTCMKTS:SLGWF, SLANG Worldwide Inc (OTCMKTS:SLGWF), SLGWF, SLGWF news, SLGWF stock

Shares of SLANG Worldwide Inc (OTCMKTS:SLGWF) ended higher in the previous trading session. However, the stock has lost 655 in the past 6-month.

Market Stats

On Friday, SLGWF stock gained 8.58% to $0.0595 with more than 158k shares, compared to its average volume of 441k shares. The stock has moved within a range of $0.0546 – 0.0626 after opening trading at $0.0626.

Announces Continued Efforts for Cash Conservation and Improved Operational Efficiencies

Leading global cannabis consumer packaged goods company having diversified popular brands, SLANG Worldwide Inc (OTCMKTS:SLGWF), on January 7, 022 announced eliminating the position of Chief Revenue Officer starting January 14, 2022.

This decision is a result of efforts to restructure sales and marketing departments as the firm is looking to ameliorate operational efficiencies, driving future revenues as well as lower capital expenditures.

Drew McManigle, Interim CEO and Chairman said that the firm has been doing holistic reviewing since he joined in November with the aim to reposition SLANG as an effective and nimble organization. McManingle added that management has decided on restructuring the departments and as a result eliminating the Chief Revenue Officer position.

The Chairman added that the key is to improve operational efficiencies as well as help the company achieves revenue growth besides driving shareholder value. He also expressed gratitude to HilalTabsh for his contributions while serving at the position and wished him well for future endeavors.

SLANG Worldwide also confirmed on the issuance of common shares for salary deferrals. This will include 377,825 common shares issued to a former executive at a deemed price of $0.0920 per share as well as 138,107 common shares to current executives at a price of $0.3258 per share. These will be subjected to hold periods expiring 4 months and 1 day from the date of issuance.

Traders Corner

SLGWF stock is below the 20-Day and 50-Day Moving averages of $0.0645 and $0.0862 respectively. The stock is trading in the neutral zone with the RSI at 40.

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.