7/23/2023 0 Comments Rocket stock shortThey are already serving the Pacific Northwest, Northern California, and Texas. ![]() The Los Angeles region commitment builds on an already established working relationship with Costco, marking the third product and fourth Costco region that BranchOut Food is selling into. On Wednesday, BOF announced a supply deal commitment with Costco, highlighting terms to serve Costco's Los Angeles region. Remember, there's another deal to factor into the equation. Then, assuming a 30% gross margin, probably a low estimate, BOF could be accounting for gross profits of approximately $8.1 million. So, assuming that number and success in marketing, which BOF intends to do heavily, extrapolating that deal to 12 months, again, WMT typically works in long-term contracts BOF, from its WMT contract alone, could generate at a minimum roughly $27 million. Still, it's in that ballpark Walmart doesn't play small ball. Estimating an initial purchase of $1,000 is warranted, knowing that it likely amounts to about 250 bags of product, maybe more, maybe less. ![]() Here's why the BOF news matters.Īssuming WMT purchases $1000 worth of products for each store, BOF would benefit from receivables of $2.25 million. And if shorts attacked the stock, considering the BOF revenues in play and tiny share float, they could soon find themselves cornered. Both are accretive, revenue-generating deals. On Wednesday, they noted its new deal with Costco (NASDAQ: COST). On Tuesday, they announced inking a deal with Walmart (NYSE: WMT) to supply 2,250 stores with its innovative dehydrated food products. Here's why.įirst, BOF made two significant announcements showing itself shifting into hyper-speed growth. In fact, it's more than likely it's probable. But it doesn't take a stock guru to know that with only about 1.19 million shares outstanding, there could indeed be some trading floor shenanigans. Of course, blogs discussing that "position" may or may not be exaggerated. Since then, shorts have been feasting on shares, with estimates from investor discussion pointing toward FINRA records indicating anywhere from 46% to 114% of BOF shares are sold short. operates as a subsidiary of Rock Holdings Inc.BranchOut Food, Inc. was founded in 1985 and is headquartered in Detroit, Michigan. In addition, the company originates, closes, sells, and services agency-conforming loans. It also offers Core Digital Media, a digital, social, and display advertiser in the mortgage, insurance, and education sectors Rocket Solar, a tech-driven, residential solar energy provider Rocket Money, a personal finance app that helps clients manage every aspect of their financial lives Lendesk, a software services company that provides a point of sale system for mortgage professionals and a loan origination system for private lenders Rocket Central, a professional services organization that provides technology, data, marketing, communication and other services Rock Connections, a sales and support platform specializing in contact center services Rocket Innovation Studio that recruits and mentors top technology talent and Edison Financial, a digital mortgage broker. The company's solutions include Rocket Mortgage, a mortgage lender Amrock that provides title insurance, property valuation, and settlement services Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience Rocket Auto, a virtual marketplace where consumers can shop and compare vehicles of many makes and models from a wide network of dealers and Rocket Loans, an online-based personal loans business. ![]() It operates through two segments, Direct to Consumer and Partner Network. Rocket Companies, Inc., a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada.
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