Despite grabbing investors’ attention earlier this year with its plans to operate in the metaverse industry, Wanderport Corporation (OTC: WDRP) is set to change its business direction once again. With this in mind, WDRP has shared its intention to operate in a number of hot sectors which has sent the stock soaring 175% over the past 7 trading days. As the company shared PR detailing its upcoming ventures and share cancelation efforts, WDRP stock is one of the penny stocks to watch closely this week.
WDRP Stock News
Originally WDRP was a holding company specialized in the production and distribution of food and beverages for a health-conscious audience. Known for its premium healthy coffee products sold in many retail and online stores, WDRP creatively announced its entrance into the blockchain industry with a new utility token – Crypto 9. Combined with a brand of coffee promoting its token, WDRP’s crypto gained a lot of momentum causing a notable price increase as the stock traded at $.0176 following the pivot.
Selling its Crypto 9 Coffees online and through some retailers, WDRP has created incentive programs which reward consumers “5 Kool Beans” for each dollar they pay. These rewards are then redeemable for Crypto 9 utility tokens but the company is looking to reduce costs associated with the network’s high gas fees. Currently it is accepting Bitcoin Visa debit cards as well – signifying the company’s deeply entrenched interest in the crypto sphere.
WDRP is planning to launch its Crypto 9 token on exchanges which could open the door to swapping it with other crypto coins. Looking to the future, WDRP is exploring options to use its token as an investment mechanism allowing farmers to back their coffee bean crops with Crypto 9 to expand their operations and upgrade their equipment. Roasters and cooperatives might also use the token to finance their operations.
While this is a grand vision for WDRP to pursue, the potential for its token to become the go-to tool for trading coffee is enticing. Considering that coffee is one of most traded commodities with 450 million cups of coffee consumed in the US daily, the opportunity to promote Crypto 9 as a financing tool for the industry could be revolutionary. Already, 9 million tons of coffee are consumed across the globe each year and if Crypto 9 becomes a tool for coffee growers and sellers then WDRP’s venture could be well-worth it.
Still, the company has maintained its focus on the health and wellness sector although it is expanding its interests to providing solutions for education and entertainment by utilizing blockchain technology, the metaverse, and digital assets in it. To demonstrate its vision going forward, the company is updating its website and has hinted at the applications of VR and AR technologies to enhance the treatment of mental health.
According to scientific papers, Dementia and Alzheimer’s could be better treated using AR and VR to treat memory problems which could be an extremely promising opportunity for WDRP. However, the company appears focused on its NFT collection which will be minted next month. To ensure the success of this project, the company will offer a reward in the form of Crypto 9 tokens and Crypto 9 Coffee with every NFT purchase.
Commenting on the company’s new direction, WDRP’s CEO – Miki Takeuchi – said that the growth of NFTs in 2021 “helped facilitate the wide adoption of cryptos,” and he went on to add that NFTs growth along with the metaverse “will be exponential in 2022.”
In addition to its metaverse pivot, the company has been cleaning house, announcing a share reduction of its restricted common shares. Currently it has an AS of 1.6 billion shares, of which 690 million are outstanding but only 212 million are restricted. It appears that tentative agreements have been made and many investors are anticipating that WDRP will complete its share reduction soon.
In the meantime, the company has announced that contrary to investors concerns, there has been no dilution from insiders or beneficial owners and no new shares were issued. WDRP has been seeing massive volume following its string of announcements which could lead to a multiday run for WDRP. With this in mind, WDRP may be one of the penny stocks to watch closely.
*Updated September 28th
With the crypto market plummeting, WDRP has been looking to change its business direction from the metaverse to other sustainable industries. In light of this, WDRP has been exploring acquisition opportunities in the past months to venture into a new industry. By changing its business direction, WDRP expects to be able to add value to its shareholders and achieve financial growth in the long-term. With this in mind, WDRP shared its intention to focus on the EV, clean energy, manufacturing, as well as import and export industries. Considering the growing demand for these industries, WDRP could be well-positioned for substantial growth if it secures a profitable acquisition.
Meanwhile, WDRP is divesting its existing businesses to facilitate its new business direction. On that note, WDRP is working with UA Multimedia, Inc. (OTC: UAMM) to take over its crypto related assets to better focus on its new business. With investors anticipating more updates regarding the new business direction, WDRP is landing on investors’ radars as the company is planning to share news today. This update will include new information about the new business and a share cancellation to further add value to shareholders. In light of this, WDRP is one of the penny stocks to watch as it could soar on positive updates.
In other news, WDRP is currently Pink Limited since it is yet to file its Q2 financials. However, the company recently shared that it is working with OTC Markets to regain its current status. In addition, WDRP shared that it has not diluted its shares or issued shares for debt conversion over the reporting period. As the company could become current soon, WDRP stock could be one of the penny stocks to watch over the coming weeks for more updates.
*Updated September 29th
Delivering on its promise to share updates today, WDRP shared PR with news regarding the company’s upcoming business focus. As its main focus, WDRP will venture into the EV space by manufacturing and distributing EV components as well as providing EV related services. In addition, WDRP is venturing into the clean energy industry with plans to focus on the areas of renewable energy and products serving the EV market. According to the company, this venture will include EV charging equipment and charging stations. Since these ventures are witnessing increased interest from lawmakers and consumers, WDRP could be one of the penny stocks to watch for financial growth once the company starts operating in these markets.
Moreover, WDRP plans to capitalize on the growing numbers of companies establishing manufacturing facilities in Vietnam by exporting these products to the US. WDRP could also realize revenues by selling these products to the local consumer base aside from exporting. To facilitate these ventures, WDRP plans to build a portfolio of companies through aggressively seeking merger and acquisition opportunities. Based on this, WDRP could be poised to soar thanks to the potential of this business plan.
As for its existing businesses, WDRP will discontinue its health coffee line once inventory is depleted and has already assigned all of its blockchain related assets to UAMM. Meanwhile, WDRP intends to audit its financials to become a fully reporting SEC company. Following the completion of this audit, WDRP plans to apply for an uplisting to gain access to larger investors and institutions which could support the company’s long-term growth plans.
WDRP also shared an update regarding its share cancellation efforts as the company agreed to cancel 10 million shares to bring its total canceled shares this year to 30 million in addition to 54 million canceled in 2021. At the same time, the company shared that it is open for further share cancellations to add value to its shareholders. In light of these efforts, WDRP could be one to buy in anticipation of the roll out of its plans.
Media Sentiment
@Jcazz17 is bullish WDRP could break the penny mark on its anticipated update today.
@SalsTradingOTC believes WDRP could replicate its run from earlier this year when it reached its 52-week high.
Technical Analysis
WDRP stock is currently trading at $.0083 and shows a resistance near .0092. Meanwhile, the stock has supports near .0061, .0038, and .0022. Since sharing its intention to explore opportunities in a different sector at the beginning of September, WDRP has been surging – with the stock already up more than 200%. Considering that the company plans to share updates today, WDRP is one of the penny stocks to watch for a continuation.
In the meantime, WDRP is trading above its VWAP and MAs which could be a bullish sign for a run in the near-term. With this in mind, the stock retested the VWAP support multiple times recently which could further confirm a potential run. However, investors should be wary that the stock ran 175% over the past 7 trading days so profit taking could occur which could send the stock near its support.
With anticipation brewing over the company’s upcoming updates, accumulation is trending upwards. Similarly, the MACD is bullish to the upside and the RSI is at 79 indicating that WDRP is overbought at the moment. In light of these indicators, bullish investors could wait for the RSI to regulate before entering a position in the stock. As for its share structure, WDRP has been constantly canceling shares and currently has an OS of 690.5 million and a float near 478.2 million.
WDRP Stock Forecast
WDRP has become one of the penny stocks to watch closely since announcing its intention to venture into a new business and many are bullish its run could continue throughout the week. With the company sharing an encouraging business update, WDRP has the potential to reach a price level near its 52-week high of $.015. This could be mainly attributable to the company’s plans to focus its operations on the lucrative EV market. As the company plans to pursue mergers and acquisitions aggressively, WDRP is one to watch over the coming weeks for additional updates.
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