LTEA, our most recent trade idea, experienced a massive rally yesterday following our alert. While our alert price was around 4.56, which was the previous day’s close, LTEA rallied to a high of 5.70 really quickly – this is why we always emphasize to not chase and to not use market orders. LTEA closed yesterday’s trading session at 4.91.
It was made known to us that LTEA is restricted with some brokerages for online trading. We apologize for any inconvenience.
LTEA, at 8 AM this morning, released what could be considered potentially bullish and significant news. As such, we continue to maintain our belief that there could be further upside opportunity.
Here is today’s news:
Long Island Iced Tea Corp. Looks to Expand its ‘Better-For-You’ Beverage Portfolio by Entering into Agreement to Acquire ALO Juice(R)
HICKSVILLE, NY–(Marketwired – Dec 9, 2016) – Long Island Iced Tea Corp. ( NASDAQ : LTEA ) (the “Company”), a growth-oriented company focused on the ready-to-drink (“RTD”) tea segment in the beverage industry, today announced that it has reached an agreement to acquire the ALO Juice® beverage brand and trademark rights from The Wilnah International, LLC (“Wilnah”) for a purchase price of 5,000 shares of the Company’s common stock.
The Company has acted as a distributor of ALO Juice® since February 2016 and has sold nearly $1 million of ALO Juice® to date. The Company believes the acquisition will further enable it to meet growing consumer demand for better-for-you beverages. Philip Thomas, Chief Executive Officer of the Company, stated, “We are continuing to see a shift towards healthier beverages and ALO Juice® offers a product which is aligned with this movement.”
Full source: http://finance.yahoo.com/news/long-island-iced-tea-corp-130000472.html