Why BranchOut Food Stock Is Trading Higher

BranchOut Food Inc. BOF shares are trading higher Wednesday after the company announced it has expanded its existing relationship with the nation’s largest retailer, which brings the total annualized value of commitments from the retailer to over $8 million.

The Details:

“We are excited to announce BranchOut Food has signed its third contract with the nation’s largest retailer, highlighting our growing relationship. BranchOut’s private label offering is a key segment of our business and we are very pleased to be adding contracts with leading retailers across the country, adding long term value for stakeholders,” said Eric Healy, CEO of BranchOut Food.

BranchOut Food shares are climbing on heavy trading volume following the announcement. According to data from Benzinga Pro, more than 50 million shares have been traded in the session, compared to the stock’s 100-day average of less than 70,000 shares.

Related News: What’s Going On With Luxury EV-Maker Lucid’s Stock?

How To Buy BOF Stock:

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Branchout Food's case, it is in the Consumer Staples sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

Price Action: According to Benzinga Pro, BranchOut Food shares are up 62% at $1.89 at the time of publication Wednesday.

Image: Shutterstock