Kaival Brands Innovations (KAVL) Stock Dips 63% Amid The Third Quarter Report

Over the last few days, the stock price for Kaival Brands Innovations has been increasing slowly, however, for the last few days the company’s stock value has decreased sharply. The price has changed from $11 to $4, which represents a 63% drop. Such a change in price indicators could be caused by the recent announcement from the company. Yesterday, the company has announced the third-quarter report. For today the total capitalization of the company is 106.439M.
The company has reported revenues of $3.4 million for the three months ended July 31, 2021, compared to $32.4 million for the three months ended July 31, 2020. The Company now expects revenues for the year to be approximately $68 million, as compared to previous guidance of $400 million. They believe in the continued growth of the U.S. vape market, and know that 93% of the market has been eliminated, the company expects Bidi Vapor’s market share to, at a minimum, reach pre-PMTA levels. The company looks forward to the second full year as an operating company and while fiscal 2021 proved challenging, they are proud of their efforts in navigating COVID-19.

Michael Rowels

Weekend Contributor.Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.

Notice: ob_end_flush(): failed to send buffer of zlib output compression (0) in /home/zjrlrgmy/public_html/wp-includes/functions.php on line 5107