I agree with you that VATE is the best positioned CBD Beverage stock and is setting up very well here
“the first publicly traded, national brand to launch both CBD-infused iced tea and CBD-infused iced coffee in the ready-to-drink beverages market”
VATE has moved from a low of .027 to a high of .058 over the past few weeks
But the day VATE hit .058 it only traded there for a few minutes and then went right back down into the .04s
VATE has spent 90% of the time during the past 2 weeks trading between .04-.05
Over the past few days the volume has decreased and VATE is moving sideways — this is textbook consolidation
Here are the lows of the past 5 trading days — .0425, .043, .043, .0415, .0415
Here are the highs of the past 4 trading days — .046, .049, .0475, .0475, .046
This is the expected consolidation phase after the very high volume runup
Many were calling for a cup and handle even before VATE broke .05 in May for the first time in 6 months, so there is nothing unusual or surprising about VATE’s price movement over the past week or so
RSI had been in the green zone for quite awhile, and along with a few other technical indicators, it has now been reset
More importantly than everything else is that VATE has transformed from a boring Hemp Coffee stock into an exciting RTD CBD Coffee and CBD Tea stock
How VATE traded as a Hemp Coffee stock with convertible debt and minimal revenue growth is not entirely irrelevant to the discussion, but it is largely so
There is no valid comparison between VATE as a CBD Beverage stock with no convertible debt and expecting 100% revenue growth in Q2 to VATE as a Hemp Coffee stock with convertible debt and flat growth
The launch of the CBD Beverages changed everything — that’s what the market’s response in May to the launch of CBD Coffee has already communicated to us
I’m looking for VATE to put in a bottom shortly, after which it will begin the next leg upwards towards the .07-.08 range
I’m in no hurry though
There’s no better identity in the cannabis sector right now than VATE’s as a RTD CBD Coffee and CBD Tea stock
And the CBD Iced Tea literally just launched this week
Kelly Distribution is only 1 distributor who got a head start on the field
The other 3 distributors have either just received their pallets of CBD Coffee and CBD Tea (Synergy) or will be receiving them within the next few days (Tappy and Outwest505)
So distribution has barely even started
VATE’s cans and bottles were only in Illinois in May, but in June they will also be in Wisconsin and New Mexico, too
I’m sure additional distributors in other states will be announced regularly this month as well
So I feel really good about VATE’s future and am thrilled that both CBD Beverages appears to be big hits with consumers
This is only the very beginning
There is tons of growth ahead
More distributors, more states, more flavors
Revenue has nowhere to go but vertical from here
Sleek
