Description: Montreal based, online grocery company / meal delivery
Share: Current price: 8.51 Results Y/Y: 130% 618M market cap 33.83% shares held by insiders 6.80% shares held by institutions Beta 0.04
Key notes; -Revenues reached 100.7M in the second quarter of Fiscal 2021, an increase of 41.9M or 71% year-over-year -Gross margin reached 30.4% for the quarter and gross profit was a record 30.6M, an increase of 12.8M or 72% -Net loss was 4M, an increase of 0.7M compared to the same period last year, resulting in a loss per share of 0.06$ -Quarterly cash flow from operating activities totaled 5.4M, an improvement of 9.3M compared to the same period last year -Record cash position of 163M -Active subscribers reached 319k as at February 28 2021, an increase of 73k or 30%, compared to February 29, 2020 -Analyst 479.6M sales projected for 2022: 14.59$ stock value. Assuming 3% of Canadians use online meal delivery for the next 10’years : 3% 38M people = 1.14M potential subscribers, 1/3 target reached already -Highest profit margins/subscriber growth of the top grocers in Canada
Important recent news: 04 feb 2021: FOOD.TO raises 60M in deal public offering of common shares:“Desjardins Capital Markets and RBC Dominion Securities Inc. pursuant to which the Underwriters have agreed to purchase from the Company, 4,800,000 common shares of the Company at a price of $12.50.
16 feb 2021: FOOD.TO has announced an expansion of its credit financing of $21 million.
Graph notes: -Finaly broke downtrend and retested it -EMA crossing -RSI oversold
perhaps some consolidation with some type of ABC correction?
CryptoHolix
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nice man, read some bullish news few days ago similar to above posted. was debating to bag some. Now, I notice a slight H&S type pattern with some bearish div & decreasing volume. might just wait few days/weeks to see how it plays out. 8$ support area was lost along with uptrend (many stock charts similar right now). Not sure if 1 bounce off 6.90 would be considered solid support but a 5months downtrend with a monthly dragonfly doji could signal a good time to accumulate at least. the weekly doesnt look pleasant to me with the hammer, whats ur thoughts? thanx