- The stock price of Kaival Brands Innovations Group Inc (NASDAQ: KAVL) increased by over 39% today. These are some details you should know.
The stock price of Kaival Brands Innovations Group Inc (NASDAQ: KAVL) increased by over 39% today. There are no company-specific reports or government filings that appear to be affecting the stock price so there are external factors at play.
Kaival Brands is a Grant, Florida-based company that distributes electronic nicotine delivery systems (ENDS Products) and related components in the United States. For example, the company offers Bidi Stick — which is a disposable and tamper-resistant ENDS Product in various flavor options. And the company also sells Bidi Pouch, which is a tobacco-free nicotine formulation that contains natural fibers and a chew-base filler in different flavors.
Today the stock price surged on heavy volume. Specifically, the volume was more than 304 times more than its average. And investors who are active on social media platforms like Discord, Twitter, and Facebook appear to be driving the rally today.
It’s also worth mentioning that the stock price of Philip Morris (NYSE: PM) saw its stock price fall today due to its ability to meet the demands for its IQOS heated-tobacco devices being impacted by the chip shortage. This may have affected the stock price of Kaival Brands today as well.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.