A lot of eyes are going to be watching the penny stock of Marani Brands, Inc. (MRIB) after alerts were issued late last night, prompting traders to look at the over $70 million in contracts the Company has boasted about recently. The reaction has been so well received by the investment world that, although MRIB stock closed at the HOD yesterday, shares have dropped -45.76% since setting their 52 week high on March 24. Since one would be required to visit Donald Baillargeon of MoneyTV if they wanted to get the details of these deals from CEO, Margrit Eyraud, as well as what the latest is on last month’s dividend and the iHub messageboard wars, a look at where they’ve come from could shed some light on where they’re heading.
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MRIB Stock Quote
Market Cap: 11.60M
Last: 0.0275 ▲ +0.0026 (+10.44%)
Dollar Volume: $79,151
14-Day Rel Strength: 46.86%
1st Resistance Point: 0.0291
1st Support Level: 0.0242
52Wk High: 0.0507
52Wk Low: 0.0001
Prior to August, 2013, Marani Brands existed on paper, but MRIB stock hadn’t really made its presence known to the OTC. Opening itself up at the 52 week low of 0.0001, MRIB stock is currently up 27,400% in the 8 months it’s been trading. It’s not hard to see why when Marani Brands keeps pushing out announcements of 8-figure distribution deals around the globe for their Marani Vodka brand which failed to record even a single figure of sales for all of 2013.
Things really picked up in March for both the Company and MRIB stock when not one week went by without some form of mention in a PR. What began with segments of Donald Baillargeon’s MoneyTV went into short & sweet one or two liners like “initiates California distribution for retail sales of Company’s award winning ultra-premium Marani Vodka Spirit” and “Marani Brands Board of Directors (The Board) has declared a 5% stock dividend payable on April 14, 2014 to all stock holders of record on March 28, 2014.”
Distribution deals from Monaco to Brazil, Spain to College Point, NY have been popping up for the last 2 months making it hard to not think MRIB stock is trading on air as thin as these multi-million dollar deals are. Real or not, the momentum and trading discipline of 2 note holders that received the 58,381,372 restricted common shares of MRIB stock during the last 6 months of 2013 which were valued as a $114,433 obligation by the Company, 0.00196 per share, has been a lesson Asher Enterprises may want to learn on how to get more bang for your buck.
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About MRIB Stock
Marani Brands, Inc., by way of their signature product Marani Vodka, an ultra-premium vodka manufactured exclusively for Marani in Armenia, is a development stage company that develops, positions, markets and distributes fine wine and spirit products in the United States.
Click here to view the financial filings for MRIB.
Click here to view the website for Marani Brands.
Issued and Outstanding: 421,639,026
Last 5 Trading Sessions:
MRIB, along with WIIM, GRNE and CEGX are just a few of the penny stocks in play today. Besides the chance of seeing some small double-digit gains on MRIB stock, TNKE is looking mighty strong and could be a force as the week continues onward.
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