Another Penny Stock, PACV, Rallies 5.88%

penny stocks

PACV stock (OTC pink: PACV) of Pacific Ventures Group has been having a wonderful month and this penny stock has rallied 5.88% in the last three months. In a single session on Oct 9, PACV jumped 12.22%.

The Pacific Ventures Group was founded in 1986 and is headquartered in Los Angeles, California, United States. It has two subsidiaries, namely Royalty Foods, LLC and Healthy Foods Markets LLC. The Pacific Ventures Group, Inc was previously known by the name of American Eagle Group, Inc and is an investment group. This company provides solutions for hospitality, beverage, alcohol and food industries. Pacific Ventures Group is beneficiary and trustor of Snobar Trust, which in turn owns International Production Impex Corporation (IPIC). In August this year, the company had announced that it will fulfill the Snobar line for both the east and west coast of the US. The company plans to do this through its own distribution centers.

IPIC has the liquor licenses under which it can sell ice pops sherbet and ice cream that are alcohol infused. These are just frozen alcohol beverages, including vodka and tequila. These are sold under the trade name Snobar. The Ice creams and sorbets contain 20% alcohol. In August this year, Pacific Ventures Group had acquired a distribution company in Southern California which handles frozen foods and other similar items. The company expects to complete its deal with the distribution company after all legal formalities have been completed. This new acquisition will enhance the company’s current food distribution network and increase its revenues and overall profits. This will also provide a bigger customer base to the company’s business, give it a larger product range, and significantly expand its retail and institutional network. 

Investors always keep an eye on such business expansions and mergers which enhance any company’s customer base, revenues, and profits quickly; which also means that the company’s stock price has better chances of rising in the near future. Increasing volumes have already indicated that the PACV stock is attracting investors and traders’ attention alike.

On 9th October the PACV stock jumped 12.2 2% in a single session with high volumes. The stock registered a volume of 6,127,418 in that session. The stock’s 65 days average volume was 26,755,224. According to the company’s SEC filing and quarterly report (August 19, 2019), the company’s gross profit margin stands at 26.33%. Its EBIT margin is shown as 12.99% while the net margin is -27.32%.  According to the data in the company’s income statement, it has registered a revenue of 4.94M. Its revenue growth has been 615.86%.

The company’s net income stands at -1.35M while its revenue per share is given as 0.01.  The company has shown a gross profit of 1.30M in its income statement. PACV has not declared any dividend in the last one year or more. The company’s market cap is $1.67M is and its shares outstanding are 275.86M. The company’s number of public floats is 248.15M.


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