Baristas Coffee Company (OTCMKTS:BCCI) Stock Surges 15% In a Week: But Why?
Baristas Coffee Company (OTCMKTS:BCCI) is up 15% in a week. The company announced that its October revenue from the virtual Munchie Magic restaurants offering Ben & Jerry’s ice cream, wine, hard alcohol, beer, and snack hit an all-time high.
Market Stats
On Tuesday, BCCI stock remains unchanged at $0.0220 with more than 580.22K shares, compared to its average volume of 275.06K shares. The stock has moved within a range of $0.0196 – 0.0220 after opening the trade at $0.0220.
Latest News
Additionally, its other virtual restaurant Thai Dah started fulfilling orders during the month, which contributed to the increase in revenues.Most importantly, October revenues were up threefold YoY, with alcohol sales increasing as ice cream retains the #1 spot as the top-selling product.
In October, the company added six more Munchie Magic stores and another Thai Dah location, with more locations expected this month. CEO Barry Henthorn said that the continued Munchie Magic expansion is encouraging, and during the month, the company started generating revenue from Thai Dah.
Henthorn is optimistic that the company’s overall revenue will increase in the coming month.the company recently expanded its software agreement with ReelTime Media to feature Thai Dah on top of Munchie Magic. Investors should watch RLTR in the coming weeks.
Key Quote
Barry Henthorn, CEO, stated: “The continued expansion of Munchie Magic is very encouraging. Furthermore, now that we have been able to begin receiving revenues from Thai Dah as well, we expect that overall revenues will continue to increase month over month.”
Traders Corner
BCCI stock is trading above the 20-Day and 50-Day Moving averages of $0.0211 and $0.0212 respectively. However, the stock is trading above 200-Day moving average of $0.0268. The stock is up 15% in the past month.
