Black Bird Biotech (OTC:BBBT) has taken the market by storm with its reimagined biotech product. Bullish investors believe that BBBT has considerable potential due to its one of a kind product, MiteXstream. In the last few days, BBBT has released a series of announcements related to MiteXstream causing BBBT’s stock to rise 317% from September 9th to 10th due to renewed investor confidence. With this in mind, BBBT may be one of the best penny stocks for 2021.

Catalysts

In a September 11th interview, BBBT’s President Fabian Deneault, discussed the company’s  application to uplist to the OTCQB tier. Although the application is still under review, a decision is expected very soon. Deneault also mentioned that the company had filed for a Regulation A offering which is expected to raise $1-2 million to facilitate MiteXstream sales. By the end of the week, the company can begin taking subscriptions as part of the offering. 

BBBT also announced plans to revamp their social media to facilitate a series of upcoming updates, and soon after shared the results of their recent sales. Meanwhile, BBBT is also preparing for a Q4 marketing push within the cannabis industry. Through their companies – Grizzly Creek Natural and Black Bird American Hemp – BBBT has expanded distribution efforts related to their newest hemp and CBD products. 

Currently, BBBT is registered in seven states: Washington, Montana, Oklahoma, Oregon, and Colorado. They have 12 other pending applications as well, but MiteXstream has already achieved EPA Pesticide Registration from the Biopesticides and Pollution Prevention Division of the Office of Pesticide Programs. However, the company is seeking EPA approval of the MiteXstreamTM’s Ready-to-Use formulation in order to capture the lucrative home gardening market. BBBT expects to receive EPA certification in the second half of Q2 2022. 

MiteXstream’s edge is that it is able to eradicate spider mites as well as eliminate molds and mildews all without damaging the plants. This has made the product an asset for high demand crops such as cannabis, coffee, and hops. The company reported on September 13th that a MiteXstream Efficacy Report from the Vancouver-based Lab – Botanical Research in Motion – is almost complete and the results are “expected to be very positive”. Similarly, an international agri-chemical company began field testing with MiteXstream in Israel this summer and its results are expected to be released by early October.

Media Sentiment

In the OTC FinTwit world, BBBT is getting a lot of buzz. But no one knows like @BMoeKnows when it comes to this stock’s potential. 

Technical Analysis

best penny stocks for 2021 BBBT stock chart

Currently BBBT is trading at $.036. It’s immediate support line is at $.0302 with a secondary support at $.0251. The resistance line is at $.066. BBBT had a bearish crossover on September 13th and the MCAD has downtrended since then. Accumulation has decreased following a spike on September 10th leaving the RSI at an ambivalent 49. 

It’s worth noting that, although BBBT just announced the first sales of its product, the company reported sales totaling $33 thousand for the last quarter – a slight increase from the year before. Yet the company incurred a net operating loss of $184 thousand which is a notable increase over the same quarter in 2020. In the first half of 2021, BBBT issued a total of 4,875,000 shares for $195 thousand in services. Still, the company retains cash on hand equivalent to $66 thousand.

Should you Buy?

Now, investors are waiting to see the results of the Vancouver lab testing which should be impressive according to BBBT’s president. October has numerous catalysts lined up which may make BBBT a long-term play and potentially one of the best penny stocks of 2021. Considering BBBT’s appealing share structure and the recent wave of activity surrounding the stock, BBBT could see another runup as updates roll out. In light of the wide ranging potential of BBBT’s MiteXstream and CBD products, the stock may reach $.066 in the run up. Some are predicting an even higher PPS as BBBT could possibly become one of the best penny stocks of 2021.

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