The once extremely successful promoted penny stock of Stevia Corp. (STEV) has seen its shares pick up momentum from time to time this year, usually after they’ve announced an update regarding their extraction of cannabinoids from their hemp farms. Shares of STEV stock have been as high as 0.339 during the spring and as low as 0.0605 during the sweltering hot month of July. With news today of Darden Direct Distribution, a subsidiary of Darden Restaurants, Inc. (NYSE:DRI), having received their first order of seafood, valued at over $200,000, has those banking on the weed direction of the international farm management company a bit puzzled as to how to react.
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STEV Stock Quote
Market Cap: 18.33M
Last: 0.095 ▲ +0.009 (+10.47%)
Dollar Volume: $104,086
14-Day RSI: 44.92%
1st Resistance Point: 0.1007
1st Support Level: 0.0847
52Wk High: 0.339
52Wk Low: 0.0605
Today’s announcement of a $200,000 seafood shipment being sent to the group with probably the most recognizable and successful brands in full-service dining dates back to April, 2013 when Stevia Corp., then strictly focused on extracting natural stevia from their farm management services, decided to venture into other revenue streams with their aquaculture advisor, Andrew Kaelin and AIS Aqua Foods. The move proved to be a wise one since any addition to the already bursting revenue numbers that have erected the Company out of the “development stage” will only make investors want to buy more STEV stock.
Stevia Corp. runs on a fiscal year which ends on March 31. When they reported their 10K back on July 15, STEV stock had already begun to make a run of its 52 week low and for good reason since the Company reported revenues of $6,373,199 for the 12 months ended compared to $2,168,093 for the fiscal year prior. It appears as if fiscal 2014 is due to be even greater after fiscal Q1 revenue numbers came in at $2,217,026, more than double what they were for the same period the year prior.
The good news doesn’t however come without some details that would explain why STEV stock has been having a rough period over the last few trading sessions. On August 19, Stevia Corp, filed an amended and supplemented prospectus relating to the resale of 47,898,931 shares which included 3,000,000 shares of STEV stock issuable upon the conversion of the $400,000 Promissory Note issued July 10, 2013 to JMJ Financial. While the convertible shares workout to be 0.1333 per share, the other 44.898 million shares include senior convertible notes and warrants which are exercisable as low as $0.053365 per share.
What should really help STEV stock stay above and beyond the under 0.09 level is their recent launching of their website, www.realhemp.com, which belongs to their wholly owned subsidiary, Real Hemp LLC. The focus of developing a portfolio of hemp products targeting the healthy lifestyle sector by a farm management company that has proven it can put numbers up year over year should help to bolster STEV shares as the company approaches full distribution of their authorized shares.
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About STEV Stock
Stevia Corp. is a farm management company focused on developing highly nutritional, high value products through proprietary plant breeding, excellent agricultural methodologies and innovative post-harvest techniques.
Issued and Outstanding: 192,902,493
Last 5 Trading Sessions:
There have been moments of brilliance over the past 18 months when buying shares of STEV stock made those who did penny stock gurus. With today’s volume slightly lighter thus far than in previous sessions, the news likely allowed for those who have been waiting out the last few red sessions to, once again, pull the trigger on STEV for the next run they’re almost certain to embark on.
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