GD Entertainment & Technology Inc. (OTCMKTS:GDET) shares are testing key support right now in the $0.003-0.00352 area as the company puts in place a strong dual strategy to capitalize on strong growth trends in both the cryptocurrency and CBD market segments. To further drive those themes, the company just announced that it has officially signed the lease for placing the Company’s first Bitcoin ATM at iVapeATX, a premier vape products store located in Austin, Texas.
“Today, we have taken a significant step toward bringing our HyperDigital subsidiary to a cash-flow positive status, and we believe this will lead to additional installations, all in very strong, high-traffic crypto-friendly locations,” commented Anil Idnani, CEO of GDET.
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 officially signed the lease for placing the Company’s first Bitcoin ATM at iVapeATX, a premier vape products store located in Austin, Texas.
We’ve witnessed sideways action over the past week. Furthermore, the name has witnessed a pop in interest, as transaction volume levels have recently pushed 36% over the long run average.
“This is a scalable business with huge potential returns,” continued Idnani. “The future of this business, and for our HyperDigital subsidiary, is much brighter than the present context as cryptocurrencies continue to become more popular over time. But even under present circumstances, we believe each machine will represent a profitable venture, accounting for all-in costs.”
Earning a current market cap value of $3.5, 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. As more color becomes clear on the name, we will review the situation and update our take. 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.