Micro Cap Soars After Announcing Strategic Negotiations

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, August 27, 2024

Acquisitions are always an exciting time for both companies involved. While it creates some uncertainty surrounding the overall impact the move will have, sometimes this kind of shakeup is exactly what companies need to become a better version of themselves (assuming things go smoothly, of course).

Well traders couldn’t get their hands on shares of Smart for Life Inc. (Nasdaq:SMFL) fast enough during Tuesday’s session after it was announced that the company is negotiating four Health & Wellness acquisitions. Shares of the micro cap went on to close at $1.275/share (+18.06%).

Smart for Life Inc is engaged in the development, marketing, manufacturing, acquisition, operation and sale of a broad spectrum of nutritional and related products with an emphasis on health and wellness. It generates revenues by manufacturing and packaging nutraceutical products as a contract manufacturer for customers.

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