ESDID: Adjusting data for the reverse split. Craft industry growth continues.
By Ian Gilson, PhD, CFA The previously announced reverse split took effect on Oct. 18, 2016. The stock will trade under the symbol ESDID (OTC:ESDID) for 20 trading days.
OTC:ESDID
We have adjusted our data for the new share count on both a historical basis and looking forward.
Recent data from the American Craft Spirits Association (ACSA), International Wine and Spirits Research and Park Street, as presented at the Craft Spirits Economic Briefing in New York NY, confirm the rapid growth of the craft spirits industry.
As of Aug. 2016 there were 1,315 active craft distillers in the United States. Over the last five years craft spirits have grown at a compound rate of 27.4% in volume and 27.9% in value to a market share of 2.2% in volume and 3.0% in value.
After over 40 years of almost unparalleled growth the craft beer market is showing signs of weakness. On Oct. 14, 2016 Stone Brewing, one of the largest craft brewers in the country, announced it was laying off about 5% of its workforce.
Given that the craft distilled spirits industry is still in its infancy we could still be looking at increasing penetration of the overall spirits market for the next 20 years.
For a free copy of the full research report, please email scrinvestors@zacks.com with ESDI as the subject.
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