Starting the year with $5.5 million in booked sales and $2.4 million in assets, the emerging lifestyle brand – Torque Lifestyle Brands Inc. (OTC: TQLB) – is gaining its well deserved momentum. As a producer of nutritional organic supplements, TQLB has been building valuable partnerships which could pave the way for further revenue growth in 2022 and put it at the top of many investors’ penny list. TQLB had a 140% run up after announcing that its joint venture partner – Zero Torque Manufacturing – was on track to close the year with millions of dollars in booked sales.
TQLB Stock News
As a company that manufactures and develops nutritional supplements for sports and health enthusiasts, TQLB has benefited greatly from its experienced management. The company currently owns numerous brands and manufactures products for other health and wellness companies such as Glaxon which recently became a strategic partner of GNC Ventures. The company’s joint venture – Zero Torque Manufacturing – and its affiliation with Glaxon has the potential for substantial sales and has already contributed to the company’s strong financial standing.
Starting 2022 with $5.5 million booked sales, TQLB’s filings illustrate the company’s significant growth. In its last quarterly report, TQLB reported a net profit of almost $1.5 million, increasing from a net loss of $23,477 in the same quarter of the previous year. Furthermore, the increase in the company’s operations is reflected in the almost $2 million in net cash used in operating activities – a significant increase from the year before. Aside from that, TQLB also reported $141,002 in cash and cash equivalents for the end of the year.
Given its strong financial position and its established partnerships, TQLB could be well-positioned to deliver on its long-term goals starting this year. With the global nutrition and supplements market projected to grow with a 9.8% CAGR and reach $117.92 billion by 2027, TQLB saw the opportunity to enter and grow in new markets. The company is already planning to venture outside the US and expand its reach globally to consumers in other markets.
In light of this, investors are bullish on the company’s future given its management which boasts significant experience in the industry. With over 20 years of executive and capital markets experience, David Lovatt – Founder & CEO of TQLB – is an accomplished serial entrepreneur in the sports nutrition and supplements market. Lovatt is known for achieving record growth for brands by defining aggressive visions and leading successful mergers, acquisitions, IPO’s, and financing efforts.
Additionally, President Leonard K Armenta Jr has over 20 years of experience in the functional food and supplements industries. He is known for his role as COO and Executive VP of MusclePharm Inc. Under his leadership, the company became the fastest growing supplement company in the industry with sales increasing from $86K to $60 million annually in only 3 years. With this in mind, investors are bullish TQLB could be heading towards the same growth given the company’s growth initiatives, new partnerships, and increasing sales.
Media Sentiment
TQLB’s 140% increase has investors like @QuabbinR looking forward to the stock’s performance in 2022.
Technical Analysis
Following its 140% increase on December 29th, TQLB is currently trading at $.0502 with a resistance at its EOY high of $.0903. TQLB has a primary support at $.0375 and a stronger secondary support around $.0274. RSI is at 49 and accumulation has been increasing. The MACD is currently bearish.
TQLB Stock Forecast
Considering the company’s plans to up-list and its solid growth over the past year, investors could find an entry point into the branded health supplements market through TQLB. The company has achieved notable growth through its JV company – Zero Torque Manufacturing – and it seems set to continue that growth well into 2022. TQLB has already shown its commitment to its shareholders’ by securing non-dilutive funding to complete its joint venture partnership. Additionally, the stock might witness another increase when TQLB finalizes its work on the new production facility and meets increasing demand for Glaxon’s products. With all of this in mind, TQLB could be a stock to add to investors’ penny list.
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