August 25, 2022 8:33 a.m. EDT
(24/7 MARKET NEWS) – Kaival Brands (NASDAQ: KAVL) is trading higher in this morning’s premarket at $1.67, up $0.35 (+26.52%), on over 688 thousand shares, after gaining 23 cents (+21.10%) on 798,090 shares traded, yesterday.
Today’s pop follows this morning’s announcement that Kaival Brands anticipates it will benefit from Bidi Vapor winning its merits case against the FDA.
Kaival Brands is Bidi Vapor’s exclusive U.S. distributor, including the BIDI(R) Stick self-contained electronic nicotine delivery system (“ENDS”), which is intended exclusively for legal-age nicotine users. The U.S. Court of Appeals for the Eleventh (11th) Circuit ruled 2-1 in Bidi Vapor’s favor, granting its petition for review and setting aside and remanding as arbitrary and capricious the FDA’S order denying the Premarket Tobacco Product Applications (“PMTA”) for the non-tobacco flavored BIDI(R) Sticks.
This may be a nice day trade, but the vap space has been rough for long termers, so please get further details from the Company press release https://www.prnewswire.com/news-releases/bidi-vapor-wins-judicial-stay-of-fdas-marketing-denial-order-301474799.html
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