I’m sure all of you have participated in (or at least know about) Amazon Prime Day. For some, it’s a day to pick up discounted goods that have been on their wish list for months, while for others (like myself), it’s a day to buy things I ‘didn’t know I needed until I saw it for sale at half value.’ Consumers aren’t the only beneficiaries of this glorious day, for businesses use it as a time to sell off some existing inventory or even launch new products.
BioLargo, Inc. (OTCQB:BLGO), a developer of sustainable life science technologies, announced that Clyraguard, the personal disinfectant and germicidal spray that safely and easily decontaminates masks and face coverings, is available on their amazon store. To have a product such as this launched not only during the COVID-19 pandemic, but in conjunction with Prime Day was borderline ingenious from a sales standpoint, setting the company up for a potential surge in sales.
Traders seemed to agree with the strategic move, as they bought up shares to $0.1558/share (+9%) in early trade. This move pushed the stock back above its 10-day SMA that it fell below yesterday. While the stock is currently in a trading range, it may have found support this week toward the bottom of the range close to the $.14 level if this intraday rally holds.