A newly listed Functional Food company (CSE: RSF) (CSE: RSF.WT) has soared 166% in its first week since it IPO’d on March 8th 2021 and RSF is just getting started! We put Rritual on alert to investors on its IPO day as we expected RSF to do tremendously well as a long-term stock due to several factors which includes, its share structure, NO debt, low float, high growth health and wellness industry, premium brand, as well as the company’s management team.
The CEO David Kerbel is a seasoned executive with over 30+ years experience having worked in the consumer-packaged goods (CPG) industry alongside multi-national conglomerates such as Kroger, CVS, Costco, Walmart and selling the biggest brands under Proctor and Gamble. Most notably, Mr. Kerbel played a pivotal role on the growth of Celsius Energy drink, which can be found at major retailers across the United States including, Costco, Walmart, Walgreens, 7-Eleven and many others. Celsius Energy drink is owned by Celsius Holdings Inc., a publicly traded company on the NASDAQ under the symbol CELH, and as of this writing, Celsius Holdings had a market cap of $3.2 Billion!
On March 11th 2021, Rritual Superfoods (CSE: RSF) announced that the company has launched its E-commerce website www.Rritual.com which includes the company’s 3 main products, Chaga, Lion’s Mane, Reishi and a variety pack. The CEO of RSF, Mr. David Kerbel stated “We aim for our website to be a robust platform for wellness, nutrition and superfood education. Rritual will be launching various content series to help at-home fitness, mindfulness, meditation, and yoga, amongst other things. Rritual's goal is always to help their website visitors evolve their daily ritual, and the website will be a great place to assist with that journey”. In addition to its corporate update, RSF has also highlighted that the company was the recipient of the ECRM Buyer’s Choice Award. This award was presented to Rritual Superfoods as the company was selected by leading retail buyers such as Vitamin Shoppe, Rite Aid, CVS and Amazon due to Rritual’s expert formulations, attractive packaging and design! When investing in the health and wellness industry, we are of the opinion that there are three key factors that come into play. Premium branding that surpasses its competitors, experienced management team and growing lines of distribution, and we regard Rritual Superfoods Inc. as exceeding in these key areas!
Already in the first week of trading, RSF has received a speculative buy rating from Clarus Securities, an investment banking firm based in Toronto, Ontario. Clarus Securities has issued a speculative buy rating on RSF and the investment banking firm has established a price target of $1.50 per share! The speculative buy rating was based on several factors which include, rapid growth health & wellness industry, strong management team and Rritual’s path to profitability through recurring revenues and product expansion. The price target issued by Clarus would represent an increase of 82.9% from RSF’s close of $.82 on Friday. As Rritual continues to grow its business and execute on its planned milestones, we consider that there is a great chance that investment banking firms such as Clarus Securities may increase their price targets over the next 12 months!
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