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Thursday, May 19, 2022

Smart for Life, Inc. (SMFL) Stock Made a Great Comeback Following its Selection by Amazon.

Smart for Life, Inc. (SMFL) is focused on developing, producing, commercializing, and selling a wider array of nutritional products with main stress on health and wellness. It is executing a buy-and-build policy with serial accretive purchases to merge the companies generating a minimum revenue of $300 million within the next three years.


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SMFL stock price on the regular trading session of March 21, 2022, dropped by 7.91% to be $0.93. Its price rocketed higher as of the writing in the premarket session of March 22, 2022, by 78.4%.

SMFL: Events and Happenings

On March 21, 2022, SMFL reported multiple filings of Form SC 13D or a general statement of acquisition of beneficial ownership with the SEC. On March 17, 2022, SMFL updated on the launch of a multipurpose product line by its subsidiary on Amazon Singapore. This is the first step towards the expansion of its global Southeast Asian presence. The initial products featured on Amazon include the best-seller vitamins and supplements. Shortly, the company is also planning to launch protein bars, keto products, cookies, and gummies on Amazon.

On March 15, 2022, SMFL announced the execution of a definitive contract for the acquisition of Ceautamed Worldwide, LLC and its associates. It manufactures vitamins and supplements and other nutritional products, such as antioxidant-rich supplements, plant-based protein, and alkalizing nutrients along with systems manufactured for weight management.

On February 24, 2022, SMFL informed the press regarding its Sports Illustrated Nutrition brand’s rollout following its purchase of GSP Nutrition, Inc. On February 18, 2022, SMFL stated the closure of its preliminary public offering of 1,440,000 cohorts. Each cohort consisted of one common stock share and one warrant for the acquisition of one common stock share at a per share exercise price of $7.00. The company’s gross proceeds from the offering were approximately $14.4 million.

Conclusion

SMFL stock down-performed by 65% from the commencement of its trading on NASDAQ. Its stock is continuously on a rising verge in Tuesday’s premarket session as the company updated on multiple SEC filings of Form SC 13D. Also, no financial statement was present on the company’s official website.

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