Save Foods, Inc. (SVFD), a company that develops and sells eco-friendly green solutions to enhance food safety and shelf life of fresh fruits and vegetables, has plunged 8.08% in the premarket trading session and consequently is trading at $4.78 at the time of the writing. The decline could be attributed to the profit-taking effect after the stock surged by 27.76% during Friday’s regular trading session and closed the day at $5.20. Let’s discuss some recent developments related to the stock.
Appointment of CMO
On the 12th of January, SVFD announced that its Israel based subsidiary, namely Save Foods Ltd., has appointed Mia Serra as the new Chief Marketing Officer. Mia has an experience of more than 15 years in marketing. At Save Foods, she was charged with managing brand strategy and marketing communications. Her addition to the company comes as it is in the process to increase the worldwide distribution of its product that reduces food waste and increases product shelf life.
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SVFD Distribution Agreement with BRELev
Earlier in January, SVFD announced to have entered into a distribution agreement with an Israel-based Cannabis Company, namely BRLev Agricultural Crops Ltd. BRLev is the distributor of one of the largest and unique stocks of medical cannabis strains. The agreement was meant to provide Save Foods with crop protection treatment as a white-label offering to its network existing around the globe. The green alternatives to pesticides of Save Foods have proven to be highly effective for fruits and vegetables.
Initiation of Commercial Program
In late December, SVFD announced the initiation of a commercial program in collaboration with Agrinet S. A. Agrinet is an agritech consultancy firm that is an expert in the introduction of new products in Mexico. The program was to initially include three packing houses companies in Mexico that were to export to the US and elsewhere in the world. The solutions of Save Foods would be applied to citrus, avocado, bell peppers and tomatoes.
Future Outlook for SVFD
During the last three months, SVFD stock has declined by approximately 17%, but the more recent stats depict a positive picture for the stock. Analysts are optimistic that the stock would provide the investors with a healthy return in the upcoming months.
