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TGIF...This is my premarket watchlist this morning
SGMD has already booked over $26 million in revenues on a year-to-date basis, and anticipates this number to swell to $32 million on sequential strengthening in gross margins and sales into year end.
Since Nasdaq requires a 4$ sp, $sgmd would need to reverse split, don’t you think?
This is my premarket watchlist this morning
$SGMD has already booked over $26 million in revenues on a year-to-date basis, and anticipates this number to swell to $32 million on sequential strengthening in gross margins and sales into year end.
The latest from the company is that it is gearing up to follow GRWG up onto the Nasdaq exchange.
Huge strength showing here...Plenty of green on the way
Really want to see that spread tighten up.
Me too..News should be coming .. Keep a watch for that
$SGMD Hopefully we could see .02 break today.
this is the phase of these kinds of plays where the actual big money is made.
That process is well underway, and it involves strategic M&A activity and operational execution. A perfect example of this process is our recently closed acquisition of BZRTH. That move delivers us an ecommerce footprint and infrastructure that can’t be matched in the industry right now, including a best-in-class logistics platform and a 55k square foot fulfillment center.
GM everyone
Expecting this to be hot for a long time. Company is doing everything right and consistently informs shareholders of what they are doing. True gem here
Expecting this to remain green today. Lots of momo here..This baby is hot
Reverse splits have been done by companies in trouble trying to keep stock price up, so they can hang on to a major index listing. In this case, it is being done to lift price to gain a major index listing. You don’t lose $$ value, you just have less shares that are worth more.
I know R/S is taken as a major negative, but in this case it has proven to help companies. I don’t see this as such a negative
Reverse Split Info:
This is exactly why we are also committed to uplisting to one of the major Exchanges. This is well within reach, and it will have an enormously valuable impact on our capacity to implement our larger strategies. Part of that process is a reverse split of our equity.
SGMD is my premarket watchlist this morning
Chart calls for snapback to .02 very soon.
Nice trading today. Grabbing any dips I see and holding for the long run
Agreed, otcnomi!
Morning NotKenny..Good to see you here
R/S COMING $SGMD
This is exactly why we are also committed to uplisting to one of the major Exchanges. This is well within reach, and it will have an enormously valuable impact on our capacity to implement our larger strategies. Part of that process is a reverse split of our equity.
SGMD closed down 2.7 percent on yesterday, on 89 percent of normal volume.
Recap of all recent news leading up to the acquisition last week of BZRTH making Sugarmade one of the largest publicly traded hydroponics supply companies moving into the industrial hemp space >>
https://otcmarkets.com/stock/SGMD/news
The catalyst driving all the action here over recent days is the company’s move to spark a widespread consolidation in the hydroponics space.
Following its acquisition of BZRTH, Inc. (“BZRTH”) last month, the Company is continuing to aggressively roll-up a dominant position in the $24 billion hydroponics space. Sugarmade is currently engaged in negotiations involving another major acquisition. The Company will update shareholders and interested potential investors as events transpire.
The key is in revenue
The Company attributes much of the revenue growth and strong margin successes to its continually evolving online strategy and to its strong product sourcing capabilities. Mr. Chan continued, “Our online strategies have been on point all year, allowing us to keep customer acquisition costs in-line, while strongly growing revenues. We have also been highly successful in sourcing products. When products demanded by our customers could not be procured at reasonable prices, our staff innovated by initiating programs directly with manufacturers. These internally sourced products have been some of our best performers. We then utilize our considerable logistics operations to get these products into the hands of our customers. With a strong cost advantage, we have been able to keep our prices low, which has increased customer loyalty, allowing us to capture a growing market share at numerous important cultivators. We have now exceeded one of our long-term goals by surpassing the important $1,000,000 annual per-employee revenue market. We are looking forward to continued growth in 2020.”
This hydroponics play moves like a beast.
The Company is extremely pleased with the seasonality trends relative to both revenues and gross margins. Despite a normal peak sales season in the agricultural sectors centering around late Spring as cultivators prepare for peak planting season, the Company has been able to maintain sequential monthly revenue growth over the past few months with revenue production for each of the months of October and November equaling or exceeding all other months, except for the expected peak planting month of May. Combined gross margins for the months of August, September and October at nearly 36% easily exceeded the average for the first seven months of the calendar year, reflecting both revenue strength and an increasingly favorable product mix of newly introduced products, which are increasingly being accepted by the Company’s customers.
Yesterday PR was massive!
Sugarmade Discusses its Growing Cost Advantages in Hydroponics Supplies - Announces Strong Preliminary Results for Calendar 2019 Exceeding Internal Forecasts
https://finance.yahoo.com/news/sugarmade-discusses-growing-cost-advantages-133000482.html
Could see it shift bigly this afternoon. Keep your eye on ball here and watch for green.
Thanks Bilbo - valuable information... looks like $SGMD is making a come back
SGMD securing a stronger position in the hydroponics industry they are already in talks pursuing several other potential deals. Just the beginning here.
$SGMD BZRTH Financial Data Highlights for the 6 Months Ended 6/30/19:
Total Sales above $15M
Gross Profit above $5M
Sequential Decline in Cost of Goods Sold as a Percent of Total Sales
Overall Sales growth of 25% Sequentially
Net Profitability generating Net Income of $749K
Scoop em up. Lots of growth potential still
I could say something about "hidden gem" if it wasn't such a cliche, but it would actually apply here.
$SGMD Major Developments here: The Company attributes much of the revenue growth and strong margin successes to its continually evolving online strategy and to its strong product sourcing capabilities.
Morning Bjorn
Looking for some bounce today after $SGMD closed down 21.68% yesterday, on 4.45 times normal volume.