Shares of California Grapes International Inc. (PINK: CAGR) surged on Thursday after the company announced the launch of its new Broker Alliance Program (BAP) to support California’s wine industry.
CAGR shares rose 47.83% to finish the day at $0.0034 on above average volume of 156.56 million. The stock has gained 70% in the last three trading sessions.
California Grapes International said that the BAP specifically targets the convergence of the California Wines Industry’s export brokers as the international market poses a significant challenge for the current export broker’s efforts when faced with competition of the well organized, well supported and often subsidized wine producing countries that currently hold majority of the market share.
Jeffrey Crittenden, CEO of California Grapes International, said that the continued growth of export sales will become much greater and more efficient with the consolidated solution offer by the BAP from California Grapes International.
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