You can’t drink all day unless you start in the morning which is exactly what traders did to start the week by grabbing shares in the penny stock of Mendocino Brewing Co. Inc. (MENB) as soon as the opening bell was rung. Shares of MENB stock had been thinly traded prior to the awareness party hosted by the Research Driven Investors group which has long been the creators of some low-float momentum plays prior to dropping a big turd as their following pick. Although the bottle was turned upside down shortly after the open for the micro-brewers, placing them on the map was good enough now that better chances to see some dips and rips are sure to come after the hype-machine moves on to something worse.
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MENB Stock Quote
Market Cap: 8.70M
Last: 0.69 ▲ +0.415 (+150.91%)
Volume: 336,434
Dollar Volume: $249,043
Open: 0.50
High: 0.91
Low: 0.39
Trades: 300
14-Day RSI: 73.54%
1st Resistance Point: 0.8633
1st Support Level: 0.4133
52Wk High: 0.91
52Wk Low: 0.24
Other than a slight decline in their North American Territory beer sales during the 3 months ended March 31, 2014, there is little to find about Mendocino Brewing Co. that doesn’t make you want to grab a cold one and enjoy the chances of something big brewing from today’s MENB stock surge. A sufficient supply of cash, a very near net income reporter, the California based brewer of a large variety of specialty craft beers got a real bonus by being pumped as a non-compensated pick by Cohen and a host of other penny stock newsletters.
Sales for the 3 months ended March 31, 2014 came in at $7,850,000 ($2,734,900 for North American Territory and $5,115,100 for Foreign Territory), a -4.67% decline compared to the $8,234,800 ($3,584,400 for North American Territory and $4,650,400 for Foreign Territory) during the same 3 month period in 2013. This isn’t all that bad considering they dipped to $36,418,200 in gross revenues for the year ended December 31, 2013 as compared to the $40,335,900, $3,917,700 decline, when you compare it to the year ended December 31, 2012.
The one hidden factor many will fail to see about Mendocino Brewing Company is that they have an extremely large portion of debt, $13,299,400 as of March 31, 2014, which is going to be a tough cookie to swallow if sales continue to decline as they have been for the year plus. Be that as it may, the low float of MENB stock with all directors and executive officers as a group (8 persons) reported to have been holding 10,388,355 shares (82.4% of the 12,611,133 issued and outstanding) definitely makes this a prime candidate for a multiday run.
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About MENB Stock
Mendocino Brewing Co. Inc., formed in 1983, through its two operating subsidiaries, Releta Brewing Company, LLC, and United Breweries International (UK) Limited, operates two breweries that produce beer and malt beverages for the specialty “craft” segment of the beer market.
Click here to view the SEC filings for MENB.
Click here to view the website for Mendocino Brewing Co.
Authorized: 30,000,000
Issued and Outstanding: 12,611,133
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Chg | Volume |
| 06/09/14 | 0.2750 | 0.2750 | 0.2750 | 0.2750 | -0.1150 | -29.49% | 1,100 |
| 06/06/14 | 0.3500 | 0.3900 | 0.3500 | 0.3900 | +0.1150 | +41.82% | 3,900 |
| 06/02/14 | 0.2750 | 0.2750 | 0.2750 | 0.2750 | unch | unch | 500 |
| 05/29/14 | 0.2750 | 0.2750 | 0.2750 | 0.2750 | unch | unch | 500 |
| 05/27/14 | 0.2750 | 0.2750 | 0.2750 | 0.2750 | unch | unch | 600 |
Bottom Line:
There have many instances in the past when penny stocks in play like MENB, thanks to Cohen’s Research Driven Investors group sending out alerts on these low floaters, to have successful multi-day runs. With less than 2.4 million shares in the MENB stock float, looking for the bounce to come later on today could be a superb play IF, and only IF, this wasn’t simply a show of force before some POS gets sent out on tomorrow.
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