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Saturday, May 28, 2022

Electronic Cigarettes Intl Group Ltd (OTCMKTS:ECIG) Trending Towards Reversal

Electronic Cigarettes Intl Group Ltd (OTCMKTS:ECIG) hit the bb’s in September 2013 and promptly exploded to over $60 a share along with the rest of the red hot Cannabis sector at the time. At the start of 2014 ECIG was trading at $10 and the stock quickly rose to $20 in the months that followed.

March 27 when CANN was halted marked the end of the bull run on Cannabis stocks and the beginning of the free fall, one that affected ECIG as the stock has been drifting downward since on accelerating volume.

Electronic Cigarettes Intl Group Ltd(OTCMKTS:ECIG) is dedicated to providing a compelling alternative for the more than 1 billion current smokers around the world. ECIG is a fast-growing independent electronic cigarette company, and owns the trademarks VAPESTICK®, FIN®, Victory®, VIP®, and others. The Company has operations in the United States and the United Kingdom and its products are also distributed in Western Europe. ECIG offers consumers a full product portfolio that incorporates the highest quality and latest technology.

The Company’s financial results demonstrate massive growth in revenues with recent reports suggesting the Company’s online business is exploding and its retail operation is in expansion mode recently entering two new major international markets.

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ECIG filings look more like a big board stock already; the Company has a strong cash position of $5.5 million and $30 million in current assets. Revenues for the 6 months ended June 30, 2014 were $15.4 million compared to $1.5 million in 2013.

ECIG’s Victory Electronic Cigarettes recently reached an agreement with ASDA Stores Ltd., a subsidiary of Wal-Mart Stores (NYSE:WMT), Inc., to expand its VIP® brand across the retail chain throughout the United Kingdom. The brand is rolling out immediately to the first 272 outlets, and will be expanding chain-wide over the next 8 weeks to ASDA Supercenters, ASDA Superstores, and ASDA Supermarkets.

Clearly the electronic cigarette market is exploding however investors should be warned that the FDA has not yet imposed any regulations on the industry. any money invested into E Cigarettes could be lost in the event that the FDA decides to shut them down.

On October 8 ECIG announced that, subject to market and other conditions, it and certain selling stockholders intend to offer up to $150,000,000 of common stock, in connection with the listing of its common stock on the NASDAQ under the symbol “ECIG”. The selling shareholders are offering 4,890,200 shares of our common stock and we will offer the balance.

Electronic Cigarettes International Group and certain selling stockholders have granted the underwriters an option for a period of 30 days to purchase up to an additional $22,500,000 of common stock. If exercised, any additional shares will be offered at the public offering price per share of common stock in this offering.

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Wells Fargo Securities and Canaccord Genuity Inc. are acting as joint book-running managers for the offering. Societe Generale and Stephens are acting as co-managers.

Conclusion: ECIG has been moving up in a hurry since hitting a recent low of $3.29 in recent trading. Investors sentiment remains highly positive on this one as the Company plans to raise up to $150 million and up list to the Nasdaq stock exchange.

The up listing alone is enough to drive ECIG stock up for a while. Currently trading at a $342 million market valuation ECIG is at the forefront of a multi-billion dollar market that is absolutely exploding. ECIG is a stock to watch here and might just provide a spectacular trade opportunity in the coming weeks and months ahead.

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Disclosure: we hold no position in ECIG either long or short and we have not been compensated for this article.

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