VINO Closed Up 339.02% After
Announcing Growth Plans Utilizing
A $44 Million Equity Line Of Credit.
Gaucho Group Holdings, Inc., (NASDAQ:VINO) continued the trend of NASDAQ penny stocks seeing explosive growth, with a close up 339.02% today to end the day at $5.40. This move up by $4.17 from a close at $1.23 just yesterday, means that this company has now crossed the threshold into no longer being a penny stock. This is because penny stocks as defined, are any stocks that trade at $5 or less.
Todays big move came as a result of the company releasing news announcing growth strategies utilizing a $40 million equity line of credit (ELOC), that we will discuss farther below.
The sudden growth of VINO today, sparked similar growth in other wine related stocks, the largest of which was enjoyed by Fresh Vine Wine, Inc., (Amex:VINE) which closed up 76.47% to end the day at $1.80.
Below we will delve into the details of VINO and what caused today’s huge move up.
This is What Gaucho Group Holdings, Inc., Does:
As per the VINO OTC Markets profile, “Gaucho Group Holdings, Inc. owns and operates Gaucho - Buenos Aires, the e-commerce luxury fashion and leather accessories brand that offers buyers around the world some of Argentinian fashion and apparel items… The company portfolio includes a growing collection of e-commerce platforms with a concentration on fine wines, luxury real estate, and leather goods and accessories.”
Today’s Growth Action On VINO Continues The Trend Of NASDAQ Penny Stocks Seeing Large Gains:
Over the course of the past four months, we have done extensive reporting on the growth of penny stocks that specifically trade on the NASDAQ stock exchange. Our reporting on this phenomena began with Cosmos Holdings Inc., (NASDAQ:COSM). In our first COSM news report, on 11/22/22 we discussed huge outsized growth seen by COSM as it saw multiple days of total dollar volume as a NASDAQ penny stock, that completely eclipsed the dollar volume being seen by just about all penny stocks that traded on the OTC Market. In this follow-up COSM report, we delved deeper into what made COSM such a big mover and determined that the reason for this was that as a NASDAQ stock, it does not have the same restrictions on trading that OTC stocks do, which allowed for much more liquidity to flow in. In seeing this play out for COSM, within that report we proposed the theory that investors may shift focus and funding out of the OTC Market and into penny stocks that trade on NASDAQ and thus far that is exactly what has been going on, with OTC penny stocks mostly trading flat, while those on NASDAQ have been far surpassing them in dollar volume traded.
Bitcoin And Other Cryptocurrency And Blockchain Related Penny Stocks Trading On NASDAQ Have Seen Similar Growth:
Within one month after pitching our belief that NASDAQ penny stocks might absorb liquidity from penny stock investors another company, Mullen Automotive, Inc., (NASDAQ:MULN) became the next NASDAQ listed penny stock to see a huge short-term move. Even today, MULN managed to see a strong close up 12.18% after releasing news of a $7.55 institutional investment to its blockchain-focused developments.
In our first MULN news release, we reported on the fact that MULN saw a huge move after releasing news of an electric vehicle (“EV”) purchase contract valued at $200 million. This kicked off a huge move for the company because the purported value of the contract was well beyond the total market capitalization of the entire company.
MULN was only the first of the NASDAQ trading penny stocks that we saw within the blockchain tech industry we reported on, as seeing outsized growth. We continued to see that same trend continued on with a big move enjoyed by Argo Blockchain plc (LSE: ARB; NASDAQ: ARBK; OTCQX:ARBKF) ("Argo") after the company announced news of a huge change to the makeup of its Bitcoin mining setup.
In this ARBK news alert, we discussed the press released revelation that Argo sold a large portion of its Bitcoin mining business to Galaxy Digital. The company did this in order to restructure after suffering heavy losses as a result of major market-wide declines seen by Bitcoin and other cryptocurrencies as a result of the year-long bear market. The irony of this decision is that within weeks of this sale, Bitcoin has seen it’s largest resurgence yet, growing to just under $24,000 today, from hitting a low of almost $16,000 just one month ago.
Today’s News Provided VINO’s Growth Plans:
Thanks to its $44 million equity line of credit, VINO management states that the company now has funding to expand its vineyard estate development, Algodon Wine Estates, in ways such as “the build out of residential villas and commercial elements associated with the estate's sports and hospitality sector, as well as marketing efforts targeting its lot sales program. The Company anticipates potential for $100 million in revenue through expansion efforts that this new funding will allow.
This is admittedly our first time looking into the potential of wine focused stocks but with the strong growth seen by VINO and VINE today, we will be sure to begin keeping a closer eye on these sorts of plays. VINO of course will not be reported on by us much more if it so happens to continue to grow because at present, it has outgrown its penny stock designation by being priced above $5 per share.
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