GD Entertainment & Technology Inc (OTCMKTS:GDET) Cannabis Expansion Shrugs Off Cryptocurrencies Woes
March 18 2019 - 1:04PM
InvestorsHub NewsWire
By Jim
Bloom
Re-published March 18, 2019 -- InvestorsHub NewsWire --
GD Entertainment &
Technology Inc (OTCMKTS:GDET) is expanding its
operations into the cannabis market as it seeks to reinvigorate its
ailing prospects. The company has been under immense pressure in
the recent past, having paid a hefty price on the cryptocurrency
market imploding. With cryptocurrencies struggling to bounce back
after one of the worst routs, the company has had to diversify its
operations in pursuit of new opportunities for growth.
GDET SHARE PRICE ANALYSIS
The company has since confirmed the formation of a subsidiary
with a CBD product line that is to spearhead its entry into the
multi-billion industry. The news has helped shore the stock’
sentiments in the market if recent price action activity is
anything to go by.
After plunging below the $0.01 mark and remaining subdued below
the critical psychological level, GD Entertainment has bounced back
on investors reacting to its new strategic drive. A 100% spike from
all-time lows has once again reinvigorated the stock’s prospects
waiting to see if the bullish momentum has the strength to continue
pushing the stock up.
While the stock has once again come down tumbling after
initially taking out the $0.02 mark, it needs to hold above the
$0.01 mark. The stock stabilizing above the $0.01 mark is essential
if it is to remain a fundamental investment as a cannabis play. A
plunge below the $0.01 mark would thwart the stock’s sentiments and
prospects.
WHAT DOES GD ENTERTAINMENT DO?
GD Entertainment is a company focused on high growth industries.
The company is striving to become a premier cryptocurrency mining
company. It also markets blockchain and financial products. The
company has also set sights on the cannabis sector as part of its
diversification strategy.
WHY IS GD ENTERTAINMENT BOTTOMING OUT?
After a long period of underperformance, GD Entertainment has
started showing signs of bottoming out having succumbed to
cryptocurrencies implosion. Expansion into the cannabis sector is
seen as a development that could help reinvigorate growth at a time
when the cryptocurrency sector is under immense pressure
uncertainty.
The Greenery is the company’s new subsidiary, tasked with the
responsibility of pursuing opportunities for growth in the cannabis
sector. Plans are underway to position the new subsidiary as the
premier distributor of CBD products. The subsidiary already boasts
of a well-refined product line that should kick-start the parent
company’s push for revenue in the sector.
“[..]I believe we are entering the CBD market at the
opportune time. With the Company’s current business plan and
short-term objectives, we will yield aggressive results. I take
pride in all GDET products, and with this newest venture it is no
exception, we stand by our motto to be innovators with best in
class products and service,” said CEO, Anil
Idnani.
DREAMCARD LAUNCH
Expansion into the cannabis sector comes a month barely after
the company confirmed the launch of its e-commerce platform
DreamCard. The website is operational following the signing of an
agreement with Lion Credit Card.
GD Entertainment is currently working on expanding the
platform’s product lineup to attract traffic. The management is
also working on enhancing social media and marketing campaigns in a
bid to promote products available on the platform. All these
efforts are geared towards attracting more customers into the
platform in pursuit of sales.
Expansion into other areas does not mean that GD Entertainment
is going slow on its cryptocurrency operations. In January, the
company received two Satoshi Bitcoin ATM machines as it looks to
take advantage of the growing Bitcoin ATM market.
Idnani says” At this time, my team is
working hard to implement a marketing strategy with a reputable
branding agency so that we may separate ourselves from the
competition. We have located several suitable locations to launch
this unit, and once it is perfectly configured, the company will
immediately ship the ATM to our final choice of location.”
BOTTOM LINE
Diversification appears to be GD Entertainment latest play as it
looks to revitalize growth after months of underperformance. The
company has since expanded its footprint into the e-commerce space
as well as the cannabis sector. With the company still focused on
the cryptocurrency sector, the future looks bright.
The stock has taken a significant hit over the past 12 months.
With the company’s long-term prospects, turning brighter by the
day, a bounce-back of the stock looks likely. GD Entertainment
looks like an ideal breakout play on recent investments paying
off.
Insider financial also recently published articles on mCig, Inc.
(USOTC: MCIG), Next Green Wave Holdings, Inc. (USOTC: NXGWF), and
NightFood Holdings, Inc. (USOTC: NGTF).
Origianlly published March 15, 2019 by Insider Financial:
https://insiderfinancial.com/gd-entertainment-technology-inc-otcmktsgdet-cannabis-expansion/178048/