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Tuesday, June 6, 2023

What Drove VGFC Stock Up 37% In Pre-Market Session On Wednesday?

After announcing a product launch, The Very Good Food Company Inc. (NASD: VGFC) shares were up 37.00% to trade at $0.1096 in pre-market at the last check.

The debut of which product has VGFC announced?

Last week, The VERY GOOD Food (VGFC) announced the opening of more than 900 Albertsons Companies, Inc. (“Albertsons”) supermarket shops nationwide. Customers will be able to discover VERY GOOD’s Smokey and Maple Bourbon Ribz and the Very Good Steak in the freezer areas of 7 Albertsons Divisions’ 900 locations and 2,700 additional distribution points starting in January 2023.

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Albertsons, who identified VGFC’s new products with fantastic flavor, texture, and exceptional nutritional profiles that would delight customers, will be VGFC’s partner in this venture. The VGFC US sales force has been crucial to the company’s ability to carry out its plan for retail development in the US.

Other recent product launches by VGFC:

VGFC also revealed last month that 107 Wegmans Food Markets locations around the country now carry goods under The Very Good Butchers brand. Additionally, VGFC has added more than 3,000 points of distribution for the Company’s brand across North America by expanding its product placements at already established retailers including Save-On-Foods, Farm Boy, and The Giant Company.

The Very Good Butchers now have 324 new distribution points thanks to Wegmans, which distributes 4 SKUs of their product line at 107 locations in Massachusetts, New York, New Jersey, Pennsylvania, Maryland, Washington (D.C.), Virginia, and North Carolina.

At 168 of its stores, Save-On-Foods, one of the biggest grocery retailers in Western Canada, saw gains in same-store placement. The company added more SKUs of The VERY GOOD Food specialty products, including the brand’s Very Good Steak and Ribz, to the produce section of its stores, bringing the total number of SKUs from 5 to 9, with a total of 1,260 distribution points.

How has VGFC been increasing its presence?

The VERY GOOD Food (VGFC) has been developing sustainable plant-based categories and their goal to provide their consumers with goods that are enticing, nourishing, and inventive are both evidenced by the expanded distribution of their products to both new and existing customers. Through its diligent efforts, VGFC products are now available on grocery store shelves across North America.

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