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Zoetic (ZOE) International Shares Surged 35% on a Major US Distribution Deal

Simon Mugo trader
Updated 24 Nov 2020

Practice Stock Trading
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Shares of Zoetic International PLC (LON: ZOE) surged 35% today after announcing that it had signed a landmark agreement with the Asian American Trade Associations Council to distribute its CBD products in tens of thousands of retail stores across the US.

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The deal will see Zoetic and its products introduced and recommended to over 88,000 AATAC partners allowing the Company’s Chill brand to be sold from the eye-catching point of sale display stands at high footfall convenience stores, gas stations and corner stores in all US states.

Zoetic clarified that convenience stores are a ‘critical feature’ of its distribution strategy for the Chill branded products, and the partnership with AATAC positions the Company well to increase their availability within the market at a speed and scale that could not have been achieved any other way.

The CBD specialist company is working closely with its partners to ensure that it is prepared for mass production without accepting any compromise to the demonstrably high quality of its products, ahead of the fast-approaching roll-out to the new distribution network.

Trevor Taylor, Zoetic’s co-chief executive, said: “This game-changing partnership represents a real watershed moment for Zoetic. With a reach across tens of thousands of retail outlets, the Company will have unprecedented access to the market and can continue on its mission to bring the Chill brand to the local stores and pockets of every consumer.”

Zoetic (ZOE) share price

Tradingview chart of ZOE share price 24112020

 

Zoetic (ZOE) shares surged 35% today to trade at 58.9p having rallied from Monday’s closing price of 43.6p.

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Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading