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What Caused The KBS Fashion Group (KBSF) Stock To Jump 31% On Thursday?

KERN stock

KERN stock

In Thursday’s trading session, KBS Fashion Group Limited (NASDAQ: KBSF) rocketed by 31.30%, a rise equivalent to $1.13 from its previous market close price. KBSF stock reached its lowest point during the trading session at $3.71, while the highest point of the day was $4.80.

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Barchart calculated that KBS Fashion stock closed the previous session at $3.61 while 0.65 million shares were traded. It has been a while since there were any current developments, but these recent developments can provide greater insight about the strategic moves the KBSF is taking.


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Recent developments:

Through its subsidiaries, KBS Fashion Group Limited, based in Shishi, China, designs, manufactures, sells, and distributes menswear. The KBSF offers its own casual menswear brand through multiple stores including 30 KBS stores. Luxventure, the social media platform operated by KBS Fashion, is one of the largest fashion platforms in the country.

It was announced this month that KBS Fashion had authorized and declared one dividend right for every outstanding share of its common stock.

Conclusion:

In addition to generating enough money for KBS Fashion (KBSF), the exercise of dividend rights and issuance of preferred shares will also strengthen the sentiment of investors in the KBSF stock.

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