AMMO Incorporated POWW bottom play?
AMMO Incorporated POWW could be entering into a bottom but there is no definitive reversal yet. Let’s take a closer look at this ammunition manufacturer.
Let’s look at the general information AMMO Incorporated POWW
Company Name: AMMO, Inc.
Ticker: POWW
Exchange: NASDAQ
Website: www.ammo-inc.com & www.gunbroker.com.
AMMO Incorporated POWW Summary:
With its corporate offices headquartered in Scottsdale, Arizona. AMMO designs and manufactures products for a variety of aptitudes, including law enforcement, military, sport shooting and self-defense. The Company was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. AMMO promotes branded munitions as well as its patented STREAK™ Visual Ammunition, /stelTH/™ subsonic munitions, and armor piercing rounds for military use.
GunBroker.com is the largest online marketplace dedicated to firearms, hunting, shooting and related products. Aside from merchandise bearing its logo, GunBroker.com currently sells none of the items listed on its website. Third-party sellers list items on the site and Federal and state laws govern the sale of firearms and other restricted items. Ownership policies and regulations are followed using licensed firearms dealers as transfer agents. Launched in 1999, GunBroker.com is an informative, secure and safe way to buy and sell firearms, ammunition, air guns, archery equipment, knives and swords, firearms accessories and hunting/shooting gear online.
What is the news lately?
Dec. 21, 2021 They announced the manufacturing of a new plant with some drone footage HERE
Nov. 19, 2021 AMMO, Inc. is pleased to announce that the holders of record of the Company’s 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (the “Series A Preferred Stock”) as of the close of business on November 30, 2021 will receive a cash dividend equal to $1.01475694444444 per Series A Preferred Stock share. The cash dividend will be paid on December 15, 2021.
3 Month Chart for AMMO Incorporated POWW
1 Day Chart for POWW
POWW Technical Analysis:
POWW is 100% BEARISH in the 3 month chart with nothing really good to say. In regards to the 1 day chart it isn’t looking much better. It fell below support and revealed a reversal from bullish to bearish.
My opinion is that this stock will continue for a while in this bearish trend until we have good news. By the way, more news is coming tomorrow for the end of the year Q4 financials.
Therefore, if the news is positive, then I would wait for a confirmation of a reversal at the $5.50 PPS.
