For more than four months, Baristas Coffee Company Inc (OTCMKTS:BCCI) struggled to trade above $0.0186 following a short-live breakout in June. However, a bull run that began in late August, interrupted by some profit taking in September, has powered Baristas to its highest watermark since May.
While Baristas might pull back a bit from its latest peak as some investors move to book profits, the stock should find support at $0.015.
A pullback from the latest high should open the door to investors who missed the initial bull run to get in, pushing the stock to even greater highs. Meanwhile, short-sellers will be scrambling to cover their short positions in Baristas as surges, and that would fuel further rally in the stock.
However, if Baristas drops below its critical support level of $0.015, then that could leave it susceptible to fresh short-seller attacks, which could in turn push the stock even lower.
Baristas has recently entered into commercial partnerships that should provide some catalytic effect for the stock.
Baristas Coffee Company has been around since 1996. It launched Innovative Communications but later rebranded to its current name in 2010.
The company operates as a specialty drive-through beverage retailer, mostly focused on coffee drinks. Baristas prides itself as the leading white coffee brand in the US. Additionally, Baristas also sells pastries and confections. True to its roots as an innovative business, Baristas has found a way to tab into the booming cannabis industry. The company now sells CBD-infused beverages, thereby expanding its product portfolio and widening its addressable market.
Recent developments at Baristas
Baristas’ latest spike can be attributed to two recent important developments.
- Baristas signs ReelTime Media (OTCPK:RLTR) to lead its marketing campaign. Baristas has tapped ReelTime Media to help drum up publicity for its brand and products. According to a press release, ReelTime will handle all aspects multimedia campaign for Baristas across television, radio, internet, and other out of home marketing platforms. The ReelTime-led marketing campaign for Baristas will begin rolling out in November, first in Seattle, Washington. ReelTime has led marketing campaigns for Baristas before. Therefore, Baristas will be working with a marketing agency that understands its brands to lead promotion for its products for the holiday season.
“The opportunity to work on the Baristas and Ben & Jerry’s partnership as the exclusive media partner is a very big opportunity to showcase the revolutionary capabilities that ReelTime Media has to gain exposure and drive consumers to products at a fraction of the cost of placing traditional media,” CEO Barry Henthorn commented.
- Baristas inks coffee products delivery partnership. Baristas has joined Ben & Jerry’s partnership agreement with Unilever and Ice Cream Now to tap into a delivery network that will see its coffee products delivered to customers in homes and businesses across America. The program will begin rolling out in November, starting in Seattle, Washington. This type of delivery partnership should help boost Baristas’ coffee products sale, particularly in the coming holiday season. Baristas says that 86% of American consumers use a home delivery at least once every month most because of convenience.
“This Ben & Jerry’s partnership fits very well into Baristas’ initiative to allow access to our products easily and conveniently while pairing the distribution network with one of the most iconic ice cream brands,” CEO Barry Henthorn commented.
Barista has taken several steps in recent months to boost its sales. In addition to the marketing campaign and delivery partnerships mentioned earlier, Baristas also sells its products through Amazon.com. The Amazon.com platform reaches tens of millions of consumers around the world. Therefore, through the Amazon partnership Baristas has access to both a huge market and far-reaching advertising platform. Baristas recently extended its coffee distribution through Amazon’s Prime program to Canada.
If the steps Baristas has taken to grow its business, especially through strategic marketing and product delivery partnerships, then the latest breakout in Baristas stock may just be the beginning of a bull run.
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Disclosure: We have no position in OTCMKTS:BCCI and have not been compensated for this article.
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