The recent resurrection in the penny stock of Stevia Corp. (STEV) took a step backwards Thursday due to a $250,000 commitment to purchase a Colorado soup maker. How the ready to eat organic soup fits in with their previous announcement to create Real Hemp LLC, aka realhemp.com, to take advantage of the marijuana rush that’s brought life back into OTC stocks that have been pushed aside since the start of the year. The result of yesterday’s spillage with STEV stock dropping almost -10% is sure to be mopped up by traders who know the real sellers know how to keep the stock price up.
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STEV Stock Quote
Market Cap: 25.54M
Last: 0.2847 ▼ -0.0302 (-9.59%)
Dollar Volume: $943,717
Issued and Outstanding: 89,711,849
14-Day Rel Strength: 62.12%
1st Resistance Point: 0.3124
1st Support Level: 0.2444
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Stevia Corp. just ended its fiscal year on Monday, March 31, 2014, which means numbes for the 12 months ended are going to take quite some tim to be computed and then audited before investors are able to have a look at what’s really cooking the books. If the 9 months ended December 31, 2013 is any indication of what to expect, a positive gross profit and 6-figures in cash are about as good as it can get.
Stevia Corp.’s STEV stock was pretty much a dead ticker heading into February even though the old pump of 2012 managed to report revenues worth $1,893,865 and $388,746 for the 9 and 3 months ended December 31, 2013, respectively. The better than 1,000% increase for the 9 months in comparison to the same period the previous year , $120,939, was treated as if lamb’s blood was painted on the door of STEV.
With the announcement to go HEMP and do what they can to capture a portion of the estimated $156 to $171 million retail market hemp products were estimated to have been worth during 2012, STEV stock has had a nice resurgence, especially since coming off those February lows of 0.0821. Now that they bought an organic soup company by issuing a $250,000 note payable, an action Stevia Corp. has loved to do ever since they went into business, there’s no telling how it will fit into their farm management business model.
One thing is for certain, while most traders wold rather be able to by some soup than be IN THE SOUP, a bounce back on STEV stock to test their highs set Wednesday might not come around until next week.
About STEV Stock
Stevia Corp. is a development stage farm management company focused on developing high value products through proprietary plant breeding, excellent agricultural methodologies and innovative post-harvest techniques.
Click here to view the SEC filings for STEV.
Click here to view the website for Stevia Corp.
Last 5 Trading Sessions:
STEV is still enjoying the interest and positive comments of investors, who see the current price rising into $1 or better levels soon. Since STEV stock is a formerly pumped penny stock, belief of $1 might be a bit overestimated, at least until the 40’s can be tested.
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