Do not underestimate the importance
of what you just stated -- .19 highest close = hugely bullish.
I'm going to toss out a price target here, based on my estimation that Howard Ullman is putting together a $100 M revenue per year company, with a goal to get the stock price above $1 by next year.
I am going to base this guesstimate on what some may find a peculiar formula, but it is one that has been accurate for me in the past... I look at what a stock price based at before dramatic news came out and do the multiplication on it... Therefore, CHDT was basing around 3 cents for many months. Due to Mr. Ullman's China contacts and deal making abilities and smart product decisions, the revenue picture brightened astronomically, as evidenced by a press release explaining a 2,300 percent increase in revenue. In other words, even the holders of CHDT stock at that moment must have been startled to learn that it was theoretically worth 23 times whhat they previously thought. Simple math: 23 x .03 = .69.
CONSERVATIVE short-term price target = .69
Now I realize that CHDT's share price actually moved up well before the "2,300 percent revenue increase" announcement was made, but I want to be purposefully conservative to make a point.
If you want to put the base at which the float of 70 M clearly turned over before the press release at .05, fine, a more optimistic short-term price target might be 20 x .05 = $1.
If you want to be spefic though, the $2.3K percent increase was actally announced when the stock was trading in the nine cent range, and you could go 23 times 9 = $2+. That's not so far fetched when you realize that Ulman is not standing pat, but plans to grow his generator and tile brokering regionally.
Anyway, it makes CHDT an easybuy as much as you can and hold at this point... The word about the escalating revenue came out July 6. My experience tells me you do NOT want to be out of this stock by the time the float churns to the one-month mark, August 6.
glta
