Pop N Go, Inc. is involved in the ever-growing $60 billion vending and snack food service market. Pop N Go’s flagship product is an award-winning, hot-air popcorn machine that produces single size servings of fresh, hot popcorn. The machine only takes up a 24” x 24” area and has clear sides in order to allow the customer to watch the popcorn being made right in front of them. The machine can be used in this automated format or can be used manually in the traditional style of popcorn makers.
In a press release issued on March 16, 2010, Pop N Go announced that their Model 7000 is now available through a distribution agreement with SamsClub.com. Sam’s is an industry leader and recognized as a premier supplier for small to mid-size business to obtain supplies and equipment. A division of Wal-Mart, Sam’s Club enjoys the benefits of Wal-Mart’s customer base of over 47 million people and more than 500 stores.
Pop N Go’s Chief Executive Officer, Mel Wyman, was quoted as saying “We look forward to our new working relationship with SamsClub.com as we continue to diversify our distribution channels. We will continue to pursue our national accounts’ turnkey revenue share program as the cornerstone of our marketing strategy for 2010.”
From a technical standpoint, the POPN chart is looking ripe for a larger move. There is a large symmetrical triangle that has formed, the Bollinger bands and short-term moving averages are converging and the price per share is trading over both the 50 and 200 day simple moving averages. The recent consolidation is forming a rounded bottom and consecutive lower highs have been formed over the last couple months.