On Monday, VPR Brands LP (OTCPink: VPRB) dropped -27.84 percent to $0.0451 and has been trading in a range of $0.0451 to $0.0640 all day. VPR Brands slipped -28.41% in the last month on an average volume of 254,280 shares. VPRB stock seems to have corrected after gaining traction following the release of its quarter-end results.
In what way did VPRB perform this quarter?
VPR Brands is a technology company, its assets include issued U.S. and Chinese patents for atomizers, electronic cigarettes, and lighters, and vaporizes medical marijuana. VPRB is also engaged in product development for the vaporizers and electronic cigarettes markets, which utilize atomized or vaporized nicotine or cannabis that exceeds the standards of traditional products without the smoke and other chemicals that are typically present in those products.
VPR Brands reported increased revenues and a narrower net loss for the first quarter of 2021.
- VPRB achieved an increase of approximately 209% in revenues to $1.25 million for its latest quarterly report.
- In the reported quarter, VPRB made less of the losses as it reduced the net loss from $421,590 in 2020 to $101,651 in 2021.
- In addition, VPRB’s gross operating margins improved to 43% in the first quarter of 2021 from 35% in the first quarter of 2020.
VPR Brands (VPRB) gained more than 40% after its quarterly results were released last Friday, but investors took the profit on Monday, making a large chunk of that gain disappear. It is likely that the impressive results will settle the VPRB stock price higher than the level prior to the release of financials.