Grove Inc. (GRVI) stock prices surged by 62.08% some time after market trading commenced on October 14th 2021. This brought the price per share up to USD$8.12 early on in the trading day.
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GRVI Stock Launches UPEXI
October 14th 2021 saw GRVI stock announce the launch of UPEXI, which is the company’s wholly owned division to acquire promising Amazon and Ecommerce businesses. For more than a year, funding has been invested into Amazon aggregators, thereby resulting in almost USD$10 billion being raised according to Marketplace Pulse. Investors scramble to fund companies aiming to buy promising Amazon brands that buyers are confident can be scaled. This burgeoning marketspace was facilitated by the transition of business from brick and mortar stores to an online presence because of Covid-19 closures. The marketspace was also bolstered by Thrasio having raised hundreds of millions of dollars, as well as by Anker having gone public as an Amazon-native brand.
Foray into E-commerce
Grove intends to directly focus on the Amazon Aggregation market following the launch of Upexi. GRVI stock hopes to enter the market as a key player which prospective business owners will sell to. Upexi will facilitate potential sellers to access the company’s programmatic ad technology, in-house digital marketing experts, and direct partnership with a team of expert Amazon PPC buyers who fine tune listings or start from scratch.
Building on Success
GRVI stock has established its market presence in the CBD and cannabis space. The company has also been allocating resources towards vertical expansion into other marketspaces. To this end, the company recently acquired Vitamedica, an online nutraceutical company. The newly acquired company was picked because of its rapidly growing presence in ecommerce and Amazon. With the efforts of the company’s in-house team of digital marketers, GRVI stock is now chasing more companies to collaborate with in order for them both to benefit. This includes companies in the health, wellness, beauty, and pet care market spaces.
Future Outlook for GRVI Stock
the company reported a promising quarter, culminating with the massively expansive scope of the launch of Upexi. GRVI stock is keen to capitalize on the opportunities afforded by the continuously burgeoning ecommerce market space. Current and potential investors are hopeful that management will be able to leverage the resources at its disposal. This is hoped to facilitate consistent and organic increases in shareholder value over time.