Kaival Brands Innovations Group Inc. (KAVL) stock prices are up 18.38% as of the market closing on October 18th, 2021. This brought the price per share up to USD$1.61. Subsequent premarket fluctuations saw the stock rise by 25.47%, bringing it up to USD$2.02.
Expansion into Global Markets
October 5th 2021 saw KAVL stock announce its plan to launch distribution of its products in the United Kingdom. The company is an exclusive global distributor of products that are manufactured by Bidi Vapor. This development comes after the United States Food and Drug Administration’s decision to deny marketing authorization for flavored ENDS. Bidi Vapor is challenging this decision regarding flavored electronic nicotine devices with respect to its BIDI stick. KAVL stock and Bidi vapor are consolidating their focus on international markets which offer full market access and product approvals to distribute the entire BIDI Stock product line.
KAVL Stock’s Expanding Scope
Despite flavored electronic nicotine devices facing significant challenges in being marketing in the United States, they remain legal in most other parts of the world. Over the past year, Bidi Vapor has been granted marketing and distribution approval in 11 global markets, including the United Kingdom and Russia. Given the favorably dynamics of the UK market, Bidi Vapor and KAVL stock are allocating significant time and strategic efforts in targeting the UK market. Concurrently, the company is actively collaborating with some of its current U.S customers that have global distribution capabilities to formalize international distribution agreements.
Ahead of the Competition
Prior to the court-mandated PMTA submissions deadline, the United States FDA has received PMTAs covering more than 6.5 million ENDS products from more than 500 manufacturers. To date, the FDA has rejected all of the PMTAs for ENDS products. Millions of applications for flavored ENDS have been rejected with applications still pending for review for tobacco and menthol ENDS. The outstanding PMTAs still outstanding for closed system tobacco and menthol ENDS are representative of 10 or fewer companies, an elite group of which Bidi Vapor is a part of. KAVL stock is pushing for courts to grant relief in its marketing denial challenge.
Future Outlook for KAVL Stock
KAVL stock is keen to push for the global proliferation of its product portfolio in regions where they are not restricted legally. The company is keen to take steps to ensure a continued trajectory of success in a bit to usher in unprecedented growth. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate consistent and organic increases in shareholder value over the long term.