A warm and fuzzy feeling is being felt by all who were young enough at heart to grab shares in the penny stock of Giggles N’ Hugs, Inc. (GIGL) a month ago as volume has significantly begun to pick up on the California based upscale, family-friendly restaurant chain. Setting a new 52 week high earlier today at $2.00, the choice of many celebrity moms and dads to enjoy an afternoon with their children has gotten a nice boost after being tagged for a spot by RedChip Companies, Inc. As GIGL stock makes those who held on for the last month get “giggity giggity” from today’s spike, a look inside makes it look even giggitier.
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GIGL Stock Quote
Market Cap: 29.44M
Last: 1.11 ▲ +0.11 (+11.00%)
Dollar Volume: $104,787
14-Day RSI: 72.52%
1st Resistance Point: 1.74
1st Support Level: 0.74
52Wk High: 2.00
52Wk Low: 0.10
Giggles N’ Hugs has hit the nail on the head when it comes to creating a venue whereby parents WANT to take their kids for play dates 10X better than Chuck E. Cheese’s did in respect to putting together a menu that begs you to come in hungry. Rather than just pizza, oven-baked sandwiches and buffalo wings, Giggles N’ Hugs puts together a foray of food choices that revel Wolfgang Puck’s restaurants.
With New York steak salads that include grilled asparagus and gourmet mac n’ cheese with applewood smoked bacon, chicken breast and sauteed mushrooms, it’s no wonder that Giggle N’ Hugs managed to more than double their food and beverage sales from $192,966 for the 3 months ended March 31, 2013 to $438,157 for the first 3 months of 2014. Closing the gap on booking $1,000,000 in total revenues for the quarter, a gross profit could be fast approaching for the establishment where celeb parents like Ben Affleck and Jennifer Garner, Mark Wahlberg, Jessica Alba, Victoria Beckham and funny man Adam Sandler (God I would love to be there when he shows up) have been seen taking their children to.
As for GIGL stock, the Company hired WestPark Capital, Inc. last month to seek out investors to take a part of 6,700,000 shares, $2,600,000, needed for future funding of the current business operations. Even with those Reg D shares and Red Chip helping to get Giggles N’ Hugs some media exposure, GIGL stock has shown today that a spoonful of promotional sugar could take it well into the $5 range before you can say FUN!
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About GIGL Stock
Giggles N’ Hugs Inc. is a development stage company that operates 3 family-friendly restaurants with play areas for children 10 years and younger within a dining atmosphere intended to create a fun, casual, family atmosphere where children can interact with parents and each other and where everyone enjoys freshly prepared, organic, nutritious and reasonably priced meals.
Issued and Outstanding: 26,518,686
Last 5 Trading Sessions:
Last time we saw a low float restaurant related penny stock start out like GIGL has it was nearly a year ago and GrillIt (GRLT) wound up running from under 0.30 to almost $6 in less than a month. With today’s recent increase in volume and example of just how quickly GIGL stock can break out with some buying headed into it, those willing to do some research could get that giggity giggity feeling if it winds up beating GRLT stock’s highs when it ran.