Micro Cap Rallies Over +45% To Finish Out Wednesday's Session

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, September 25, 2024

A Florida-based e-commerce and packaging company really stole the show on Wednesday after the company announced that it improved its balance sheet by eliminating $5.4 million in convertible notes and increasing shareholder equity by $23 million.

According to the release, the company also stated that it expects to deliver $100 million in revenue in 2025. Seeing that the market cap of this company is currently under $7 million in total, its no wonder that traders were quick to buy up shares of Eightco Holdings Inc. (Nasdaq:OCTO), pushing shares of the micro cap to close the session at $3.63/share (+45.78%). Be sure to put this one on your watchlist for sessions to come!

Eightco Holdings Inc. is engaged in the business of Forever 8 inventory cash flow solution, Web3 Business, and Packaging Business. Its subsidiary, Forever 8 Fund, LLC (Forever 8) is an e-commerce fintech company that provides funding solutions for e-commerce businesses. Its Packaging Business manufactures and sells custom packaging for a wide variety of products. Packaging Business provides packaging for third-party customers in a variety of industries, including pharmaceutical and e-commerce companies. The Company operates through two segments: Inventory Management Solutions segment and the Corrugated segment.

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