One of the hottest OTC stocks at the moment is Yuengling’s Ice Cream Corporation (OTC: YCRM) which has run more than 1000% since the start of September. This parabolic run started when the company executed an LOI to reverse merge with the emerging live entertainment platform – PickleJar. The company intends to share news regarding the deal by September 30th, and with this date approaching, YCRM stock could continue its meteoric rise thanks to investors’ interest in PickleJar’s business. For this reason, the stock is one to watch closely this week as it has the potential to reach a penny with the growing interest in it.
YCRM Stock News
On August 29th, investors were caught by surprise after YCRM executed an LOI to reverse merge with PickleJar. After the deal closes, the combined company will be known as PickleJar Entertainment Group – with PickleJar holding a majority stake in the combined company. Although the stock initially ran 225% on the news of the merger, it cooled down in the following days before the company shared a major piece of news.
The news that rallied investors around YCRM stock is settling and repaying 2 convertible notes to 1800 Diagonal Lending, LLC and Quick Capital, LLC. for $13,500 and $22,000 respectively. The first note was paid off by YCRM’s former CEO Everett Dickson, while the second note was paid off by PickleJar itself which is very significant.
This move indicates that PickleJar is committed to protecting YCRM’s shareholders’ value since if the note was converted, it would be at a discount price which would bring the stock price down. That said, the most important detail in that announcement is that the company shared a timeline for closing the deal as it shared its intention to make announcements regarding the deal and the closing date by September 30. With this date approaching, YCRM stock may continue its impressive run as many investors are taking notice of its upcoming merger.
With this in mind, the merger with PickleJar could be profitable for shareholders given its platform’s potential. After 1 year of its launch, PickleJar showed its potential since it helped artists earn more than $1.2 million. This means that a large number of indie artists may use the platform thanks to its benefits to artists.
PickleJar allows artists to receive 100% of their tips without any fees while providing them with the tools they need to connect with their fans. The platform also allows artists to donate their tips to nonprofits or causes of their choosing. This feature has been successful as artists on PickleJar successfully raised more than $300 thousand for charity within its first year of existence.
This success has not gone unnoticed as PickleJar was able to attract investors into its business since it raised more than $4 million in the year following its launch led by Canadian billionaire Anton Rabie and his private equity fund – The Kale Fund. On that note, The Kale Fund has other promising investments including Garten which generated $31.9 million in annual revenues, and Carbon6 which realized $29.4 million in revenues last year.
Speaking of revenues, PickleJar generates its revenues through multiple streams. These revenue streams include selling sponsorships, passing transaction and handling fees on merchandise sales to buyers, as well as offering hyper-regional targeted advertising for clients. While not much is known about the company’s business model, its CEO Jeff James promised to hold a Zoom call and provide updates to shareholders after the completion of the reverse merger.
It is worth noting that PickleJar has several reputable partners which is also a bullish sign of the company’s success. As is, the company is partnered with Cumulus Media Inc. (NASDAQ: CMLS) for a daily Country radio program called “PickleJar Up All Night” which airs across CMLS’ Country stations in 47 US markets reaching over 250 million people every month.
PickleJar is also partnered with Cox Media Group (CMG) which delivers 14 television stations in 9 markets, 49 radio stations in 10 markets, streaming and digital platforms, as well as local, regional, and national advertising businesses. These partnerships could act as an attraction point for artists to start using PickleJar – increasing its popularity in turn.
@SuperRobotOTC is excited about YCRM stock’s parabolic run.
@StockPicksNYC is bullish on YCRM’s merger with PickleJar.
YCRM stock is in a bullish trend with the stock trading in an upward channel. Looking at the indicators, the stock is above the 200, 50, and 21 MAs which is a bullish sign. Meanwhile, the RSI is approaching overbought at 66 and the MACD is approaching a bearish crossover.
As for the fundamentals, the company is expected to share updates regarding its merger with PickleJar on September 30 which could drive the stock to new 52-week highs. With this in mind, investors should note that the stock already ran more than 1000% so a pullback near $.007 could happen as investors take profits. In that case, the $.007 price point could be an attractive entry into YCRM stock ahead of September 30.
YCRM Stock Forecast
With the company intending to share news regarding its merger by September 30, YCRM stock could continue its 1000% run thanks to PickleJar’s potential in the entertainment space. As is, PickleJar is backed by Canadian billionaire Anton Rabie and his private equity firm – The Kale Fund – which is invested in several successful businesses generating tens of millions in annual revenues. In addition, YCRM is partnered with large media companies in CMLS and CMG which could attract more artists to the platform. Based on this, investors may witness a substantial return on their investment in YCRM once the merger is finalized.
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