Alpine 4 Technologies (OTCQB:ALPP) has sprinted to a new high for the year and found a new critical support level as well. For investors, watch this space.
Alpine 4 surged to set a new high for the year at $0.0734 on October 18, coming on the back of a powerful rally that began with a breakout on October 9. The stock might pull back a bit from the new peak as investors begin to take profits. However, looking at where Alpine 4 has gone, it appears the stock could continue rising.
From where Alpine 4 stands now after the recent rally, pressure is now building on short-sellers to scramble to cover their positions before the Alpine 4 rally obliterates them. Alpine 4 appears to have found critical support above $0.10 a share.
About Alpine 4 Technologies (OTCQB:ALPP)
Alpine 4 Technologies (OTCQB:ALPP) is a conglomerate that operates multiple subsidiaries. Its focus generally is driving adoption new technologies that can help its clients boost the performance of their businesses. Alpine 4 has created enterprise business operating system that it calls SPECTRUMebos.
Alpine 4 expects to report 43% increase in revenue
Alpine 4 exploded after the management issued strong revenue guidance for the third quarter. The company expects to report third quarter revenue of $6.9 million, which represents year-over-year revenue growth of 43%. Moreover, Alpine 4 management has said they expect revenue for the first nine months of 2019 to exceed $20 million.
Recent major developments at Alpine 4
We’ve noted several developments at Alpine 4 that look set to continue driving revenue growth at the company, which may in turn provide catalyst for further rally in its stock. Here are some of these developments.
- Through its Quality Circuit Assembly (QCA) subsidiary, Alpine 4 recently added four new customers. Alpine 4 expects these new customers to boost its 2019 sales by more than $1.0 million and continue contributing to its topline throughout 2020. QCA provides manufacturing support and these newly added customers signed on for its medical devices technology. The newly added customers brings Alpine 4’s QCA subsidiary closer to its goal of generating $5.0 million in annual sales from its contract manufacturing service business within three years.
- Alpine 4’s subsidiary Altia recently secured a supply contract for its newly updated Brake Active product line from a California based Hyundai dealership. Altia’s Brake Active is a safety enhancement product designed to tackle the problem of rear-end collisions in vehicles.
- Alpine 4’s subsidiary Morris Sheet Metal Corp (MSM) recently secured new orders worth over $5.5 million. MSM expects to work on those orders through the first quarter of 2020. MSM provides mechanical contracting services across the US. Alpine 4 acquired MSM early this year.
- Alpine 4’s subsidiary American Pacific Fabricators (APF) recently received a $1.3 million purchase orders from a leading manufacturer and supplier of industrial equipment.
“We are pleased to announce this transaction, and feel that APF was chosen for this contract because of their reputation for quality workmanship and superior manufacturing techniques that drive on-time delivery,” Alpine 4 CEO Kent Wilson said of that deal.
Upcoming events that could impact Alpine 4 stock
Alpine 4 plans to hold its 2019 annual shareholder meeting in a month’s time on November 23. This will not just be a typical shareholder meeting. According to Alpine 4, it plans to host an expo just prior to the annual meeting. At that expo, Alpine 4 will invite several of its customers to participate and display some of their products. For investors who may be looking for more evidence of the importance of Alpine 4’s technology and the company’s potential to continue attracting more clients to grow its business, the expo will be their answer.
We believe the expo and the shareholder meeting that would follow may have a huge catalytic impact on Alpine 4 stock.
Catalysts to fuel further rally in Alpine 4 seem to be in place going by the recent developments and the expo the company plans to host just ahead of its annual shareholder meeting. While Alpine 4 may pullback from the recent new high for the year as investors book profits, there seems to be able room for the stock to rise even further. At $0.15 a share, Alpine 4 is still some distance away from its one-year peak, indicating more upside potential.
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Disclosure: We have no position in ALPP and have not been compensated for this article.