What's Going On With NuZee Stock Thursday?

Benzinga · 10/17 17:44

NuZee, Inc. (NASDAQ:NUZE) shares are trading higher on Thursday after the company announced it moved its U.S. operations from California to Florida and established offices around the globe.

The Details: NuZee said it established offices in Singapore, Hong Kong, China and other countries with the aim of increasing its presence outside of the United States.

In addition, the company announced that Randy Weaver has stepped down from his position as co-CEO. Executive chair and co-CEO Jiangshang Wang has assumed Weaver’s responsibilities and taken over as CEO.

“As the new CEO of the Company, I will propose a long-term strategic approach that is more suitable for the development of Nuzee, to meet the constantly changing market demands. I hope that with the development of the Company’s global business, the Company may improve its performance and create greater value for its shareholders,” Wang said.

NuZee shares were last up more than 500%, trading on abnormally high volume. NuZee’s average session volume over the past 100 days is about 3.6 million. Thursday’s trading volume has already exceeded 234 million at the time of writing, per Benzinga Pro.

How To Buy NuZee Shares

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Nuzee's case, it is in the Consumer Staples sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

NUZE Price Action: At the time of publication, NuZee stock was up 571% at $2.39, according to data from Benzinga Pro.

Image: Photo by Markus Spiske on Pexels