GD Entertainment & Technology Inc. (OTCMKTS:GDET) shares exploded higher on Monday on 10x average volume for gains of as much as 70% on the day. The move was driven by the company’s announcement premarket that it has signed a two-month holiday season lease to open a physical store location for its CBD product subsidiary, The Greenery, in the second-largest shopping mall in the New York metropolitan area and the eighth-largest in the United States.
According to the release, The Greenery, Palisades Center, will be fully open for business this week ahead of Black Friday. “Research shows that CBD brands can powerfully differentiate themselves through a physical store presence in high consumer traffic areas,” commented, Anil Idnani, CEO of GDET. “We will have a prime location in one of the highest foot traffic areas of one of the most popular malls in the country during the height of the strongest shopping season of the year during CBDs breakout year. We see this as a difference-making moment as we continue to build the Greenery brand as a leader in the CBD product market.”
GD Entertainment & Technology Inc. (OTCMKTS:GDET) trumpets itself as is a company that focuses on high growth industries to fulfill a diverse selection of premium products nationwide. The company operates in two basic segments: cryptocurrency mining/services and CBD-based products. Both segments are currently doing real business and will likely contribute to significant revenue growth over the next 3-month and 12-month periods.
The main factor in valuing the company right now, overall, is its crypto mining farm, which is running fully-owned top-tier miners, with all-in costs at $0.065/kwh.
The company’s HyperDigital Technologies subsidiary is the Cryptocurrency ATM business, which aims to secure multiple MSB, money services business, licenses in order to host ATM units throughout the country.
The DreamCard subsidiary specializes in fully customizable and premium quality credit/debit cards. The Cryptocurrency cold storage market has been forecasted to reach more than $15 billion by 2025.
The CBD Segment is operated through its subsidiary, The Greenery (thegreeneryco.com). The low-down on the Greenery is that it has a popular Honey Hemp CBD recipe that has evolved in partnership with a local “homegrown” honey supplier located in Florida. It also offers a number of other CBD-based products for both human and pet markets.
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As noted above, GDET just announced that it has signed a holiday season lease for a physical store for its premium CBD products subsidiary. The move will put the company in front of millions of people over the next two months as shoppers poor into one of the most visited, biggest, and most popular malls in the country.
We’ve witnessed 23% tacked on to share pricing for the listing in the past week. What’s more, the company has registered increased average transaction volume recently, with the past month seeing just shy of 160% beyond its prior sustained average level.
Mr. Idnani continued, “We expect strong sales given our prime location and the dramatic growth in consumer awareness of the benefits of CBD we have seen this year. We also expect to powerfully benefit from exposing our branding to such a huge wave of consumer foot traffic. This is one of the most lucrative and popular shopping locations in the country and it will be at its absolute height of activity during the holidays. We will have direct access to millions of eyeballs over the course of the next two months, and we plan to make a major impression.”
Currently trading at a market capitalization of $3M, GDET is pulling in trailing 12-month revenues of $53K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 160.3%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $GDET stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $GDET, either long or short, and we have not been compensated for this article.