Reeds Inc. (REED)

[gumbie05]

Still own some from $0.59 back right after they placed the latest offering a few months ago. Let’s see if this has the wherewithal to get over $1.30 and if can stay above that. The fact that the last semblance of the old guard (ie Chris Reed) is finally leaving the board is probably a good thing considering this company has never made a profit since inception. Hopefully the new crew will see to that and if so, there’s no reason why it shouldn’t stay above $1.30 unless they’re planning another placement (ie more dilution) below a $1. That’s going to really determine the direction.

- JMHO