second close...took a while. kicked off the lower bb/50sma and broke the falling wedge of consolidation several days ago. 7 closes above the open in a row after today. very bullish MACD on weekly and daily.
Currently pressing above the upper BB on good volume in a poor market. I spoke with a top exec at Jones and had to hold myself back in asking if they could please make a leveraged buyout of REED's so we could have an adult in charge. This is a 8-10 dollar stock all day long with competent business people in charge.
It is inexplicable to me why the the cfo/coo bot a million dollars of stock at 7.7 and wont scrape up a couple dollars to buy more down here. Gross profits will likely reach 11-12MM this year and the future is very bright for REED's even though they struggle to bring it to the bottom line. If they can't muster a profit this qtr I will be sorely disappointed. I expect to see 35% rev growth and the stock will fly on the news. The question is does one hold until all the figures are released a week later.
The growth and future growth are in the bag with this one and I have to believe PE is following it closely.
Kombucha would be hard pressed not to accelerate quickly this Spring and beyond and the core biz is doing very well. They have much loved products. FIZZ is probably looking at this one too.
Good luck intrepid longs. Watch for possible close above 5.35 and a rush of capital moving in over the next few weeks.