Choom Holdings Seeing strong support at $0.085 for $CHOO after being in a downtrend since March. The company has been paying off debt, focusing on revenue and brand growth, and they’ve been opening new stores to increase the retail footprint in Canada. Although the chart might not look too good I like to focus on the financials and fundamentals of the company.
- Huge YOY revenue growth
- Economic reopening this summer in Canada (vaccine distribution is on track)
- Deal with $ACB to convert debt to equity, gives $CHOO the ability to focus less on interest payments and use that money for the growth of the company
- Extremely undervalued at $26M, did $6.1M revenue in the last quarter alone
In the long term, I can see $CHOO easily being worth around $0.25 per share because of the growth. They already have 15 stores with 2 more planned and are valued significantly cheaper than their publicly traded competition. I’m definitely adding more to my portfolio at these levels.