Breed IT, Corp. (OTCMKTS:BRDT) Faces Long Weekend at the Peak of Gains

Breed IT, Corp. (OTCMKTS:BRDT) made a curious trend in February, on track to triple its price on a month of heavy trading volumes. On Friday, BRDT ended at $0.46, on dollar volumes of $1.07 million, a record both in dollar and volume terms. BRDT bottomed out at a bit above one cent in the summer of last year, and since then has made a rather solid run, leading up to the thicker trading of last month. BRDT1702.png

Since BRDT is not in active promotion, it is easy to discern what caused the climb. Initially a software company, BRDT appropriated its products to serve marijuana growers, and thus became a newcomer pot stock, going through the usual climb fueled by initial exuberance. The latest PR message from the company includes negotiations with an Israeli company planning to introduce a new form of medical cannabis. But BRDT has been restyling itself a cannabis company since October last year.MCIG1702.png

While it is unknown if the venture pulls through, BRDT is at least in the short term standing in the spotlight, and matching in price the recent fast movers, GreenGro Technologies, Inc. (OTCMKTS:GRNH) and Terra Tech, Corp. (OTCMKTS:TRTC). But the difference is that BRDT is around the 50-cent price for a much shorter time, and as interest is at its peak, there is the question of how long BRDT would last and how deep the price correction would be.

Compared to other marijuana stocks, BRDT stacks up comparatively well, as it shows some activity and assets, though still a business that is a sink hole for money and needs to find revenues soon. BRDT reports:

  • cash: $9,136
  • current assets: $20 thousand
  • current liabilities: $125 thousand
  • quarterly revenue: $1,462
  • quarterly net loss: $28 thousand

Even the “agricultural software” angle is rather new, since until December last year BRDT went under the rather generic name of Programming Platforms, Corp.

Now, investors in BRDT will have a long time to think over the recent gains, as markets close for President’s Day. Opinions in investors’ forums remain positive, as moods were lifted by the addition of Dr. Ben-Zion Weiner to the Board of Directors. Dr. Weiner would bring a connection to Israeli generic medicine company Teva Pharmaceuticals. We still don’t know how BRDT will utilize the presence of Dr. Weiner, but for now the news are taken as rather positive and a testament to the quality of newly-restructured BRDT.

On the positive side, BRDT managed to achieve quite a respectable price position without climbs that were overly-aggressive or sudden. In this, BRDT resembles mCig, Inc. (OTCBB:MCIG), another of the better-standing marijuana stocks, which only had small setbacks, and is hovering around 33 cents now. BRDT is far from the wild charts of other newcomers that only reinvented themselves as cannabis companies in the past week. Still, at the peak of the trend, it is best to be prepared for pullbacks.

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