Vape Holdings, Inc. (OTCBB: VAPE) has been a wild ride so far this year. To answer the question “Can Vape Overcome this Chart?” let’s start by looking at that chart:
Okay, that’s quite a deficit to overcome. With a high of $41.25 and many, many shares traded five and ten times the current price many have lost a real fortune already. While it looks really, really bad from a technical perspective, let’s look at it from a fundamental perspective:
Let’s start by looking at the June 11th release. Here is the meat of that release about the success of their new ecommerce site:
The HiveCeramics.com website brought in over 300 retail sales and saw over 58,000 hits last month alone – over 12,000 of them unique visitors – without a full e-commerce site, full product line or any paid or formal advertising. Thus far the Company has relied on word-of-mouth, various social networking accounts, and industry reputation to guide interest.
“We have worked diligently since acquiring HIVE just over two months ago to establish our wholesale distribution platform, partnering with authorized dealers across the country and internationally. The opening of the HiveCeramics.com e-commerce site is the next step in our multi-channel expansion plan of the HIVE brand,” stated Kyle Tracey, CEO, Vape Holdings, Inc.
“As I have said repeatedly, we are overwhelmed with the positive reception the industry has given to the HIVE Ceramics product line in just its first few months in the market,” added Tracey. “We now plan to implement a streamlined marketing and advertising campaign to drive web traffic and online sales revenue.”