Friday, June 24, 2022

The Remarkable Rise of Homie Recipes Inc (OTCMKTS:HOMR)

Homie Recipes Inc (OTCMKTS:HOMR) is a new treat on the OTC. HOMR has been in an almost spookily uniform upward trend over the past couple weeks. It’s the style of movement that frankly doesn’t make us at all comfortable. It’s not natural. But we don’t have explicit evidence of a promotional scheme in play here, so we will take it at face value with a gut-feeling undertone of caveat emptor beneath the surface, if that makes sense. The company just announced that it has entered into a Joint Venture Agreement with the West African Stevia Company and KOP Farms located in Ghana, West Africa, so we shall focus on that today.
According to the release, “terms of the Joint Venture Agreement call for the parties to immediately plant and cultivate 50 hectares (approx. 120 acres) of stevia, increasing in stages up to 2,500 hectares (approx. 6,200 acres) planted. In addition to planting and cultivating stevia on its own lands, the partners intend to develop an “outgrowers” program across Ghana to expand production of stevia with 3rd party farmers on a contract basis. The 3rd party grown stevia would then be processed, marketed, and sold by the partnership.”
Homie Recipes Inc (OTCMKTS:HOMR) promulgates itself as a development stage company that intends to stream videos and written recipes through a website. However, this latest news suggests (according to our research) that the company is basically undergoing a transition to becoming a publicly traded “Stevva LTD.”
According to company materials, “Our goal is to stream free recipes for ‘special’ homemade cuisines and food items. We intend to have recipes that are personal and have special meaning, on our website. What makes a recipe ‘special’ is the personal history or tradition behind it, for example, cookies made by someone’s mother on Christmas Eve, or a special pasta sauce prepared by their Grandmother made every Sunday when they were growing up, etc.”
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As noted above, HOMR has been on fire since starting its trading “career” on the OTC in August. The fact that the nature of the action is somewhat suspect to us (as long time traders and observers of stocks like this) is something we will ignore for the moment. The fact that the company just inked a new partnership is not.
As we noted when we last covered this stock, the move here is very clearly one into the stevia space. And this new deal continues that progression.
Mr. Theodoros Kerasidis, President of Homie Recipes, “Ghana is considered one of the most stable and business friendly countries in all of Africa. Certain areas of Ghana, like the valleys of northern Greece, have great climate and soil conditions for growing the highest quality stevia. But Ghana also has a huge advantage with a year-round growing season which will allow for up to four stevia crop harvests per year, as opposed to only two annual harvests in Europe. This combined with cost effective labour, strong government support, and excellent global transport logistics via ocean, make Ghana an ideal location for us to expand our business.”
Recent action has seen 14% tacked on to share pricing for the stock in the past week. Market participants may want to pay attention to this stock. HOMR has a track record that includes a number of dramatic bounces. Moreover, the name has benefitted from a jump in recent trading volume to the tune of 12% over the long run average.
Currently trading at a market capitalization of $127.3M, HOMR, as we noted last time, appears to be in a major transition such that its financial data is no longer of substantial or material interest in understanding the nature or track record of the entity that will be at the operational core of this business around the next corner. Hence, we will examine that aspect of the story the next time we address this stock. Sign-up for continuing coverage on shares of $HOMR stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $HOMR, either long or short, and we have not been compensated for this article.

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