QualityStocksNewsBreaks – Kaival Brands Innovations Group Inc. (NASDAQ: KAVL) Releases Q3 2021 Report, Updated Guidance
Kaival Brands (NASDAQ: KAVL), the exclusive global distributor of products by Bidi(R) Vapor LLC, has released its third-quarter 2021 revenues, which are lower than expected. In the report, the company observed that the U.S. Food and Drug Administration’s (“FDA”) Premarket Tobacco Application (“PMTA”) process has impacted its revenues. The company noted that it believes many retailers and distributors have been reluctant to take on new inventory because they were concerned about being left with inventory that, as a result of the PMTA, would be illegal to sell. The company also noted that other retailers may have purchased counterfeit or suboptimal…