24/7 Market News Snapshot 22 August, 2024 – Smart for Life, Inc. Common Stock (NASDAQ:SMFL)

August 22, 2024

DENVER, Colo., 22 August, 2024 (247marketnews.com) – (Nasdaq:SMFL) are discussed in this article.
Smart for Life, Inc. (Nasdaq:SMFL), a notable entity in the Health & Wellness sector, has recently seen its stock price rise to $1.713 in pre-market trading, reflecting a substantial 10.83% increase from the previous closing price of $1.570. This upward trend is substantiated by a significant trading volume of 1.86 million shares, indicating increased investor interest and potential for further gains. Positive technical indicators, including favorable moving averages and heightened trading volume, suggest a promising outlook for the stock, warranting careful observation of key resistance levels and overall market sentiment.

Additionally, Smart for Life has forged a strategic partnership with Amerivest Group to bolster its mergers and acquisitions (M&A) initiatives, highlighting its commitment to growth and innovation within the nutraceutical industry. The collaboration aims to identify and pursue acquisition opportunities, particularly targeting profitable companies with annual revenues ranging from $5 million to $25 million.

A.J. Cervantes, Jr., Chairman of Smart for Life, expressed optimism about the partnership, recognizing Amerivest Group’s extensive experience in M&A as a valuable asset in reshaping the company’s acquisition strategy following recent restructuring. Scott A. Levine, Regional Director of Amerivest Group, shared that their team brings considerable expertise in executing transactions, which will be pivotal in enhancing Smart for Life’s Buy-and-Build strategy.

Darren Minton, CEO of Smart for Life, noted that Amerivest has already identified several promising acquisition targets. This partnership is viewed as a crucial advancement in the company’s efforts to strategically expand its portfolio, striving towards an ambitious revenue goal of $100 million. While any prospective acquisitions remain contingent upon due diligence and financial assessments, Smart for Life’s proactive approach signals a decisive move towards sustained growth and market enhancement in the nutraceutical domain.

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