The US stock market averages remain mixed in the first hour of trading today, but shares of Verus International Inc. (OTCMKTS: VRUS) are soaring up over 41.43% to be one of the top gaining and most actively traded small cap stocks on the US OTC exchange so far this morning. The company has a market cap of $5.295 million so it only takes a small amount of money going into the stock to drive it higher. Take a look at the chart and you can see that it first began to surge last week.
Today news by the company before the opening bell helped to drive attention to it. Verus International Inc. (OTCMKTS: VRUS) is a supplier of packaged foods and engages in wholesale trade. The company issued a press release today to announce “that its Big League Foods (“BLF”) division has secured a retail license agreement with the National Hockey League (“NHL”) to produce NHL-themed chocolate, gum, gummies and other confectionary products. Under this agreement, BLF now has the rights to feature the names, nicknames, slogans, symbols, logos, emblems, insignia, colors, and uniform designs of each of the member teams of the NHL. The initial product line will include themed candy products similar in concept to BLF’s candy line designed for Major League Baseball (“MLB”).”
The company stated three weeks ago that its “goal is to have multiple professional sports brands that can overlap seasons, providing BLF a year-round presence on retailers’ shelves. This kind of rotation in seasonal offerings from a single source is highly desirable for retailers, particularly in the impulse aisle at checkout.” The buzz around the company and action has attracted many stock traders on twitter.
$VRUS also changed accounting firms again with fins due in less than 3 weeks. But hey it's NHL— TruthSeeker (@LoserPenny) August 25, 2020
$VRUS is almost at 300 million TRADED and .2 VWAP— RobotPete (@RobotPete) August 26, 2020
I do not own shares of VRUS and am not trading it. Neither is Mike Swanson, who is the editor of this website. It is a situation he is only watching. He sends out an email update before the opening bell going over the key stories of the day that he is watching and trading ideas. You can get this for free. Just click here to subscibe.