Why Gaucho Group Holdings Inc (VINO) stock recover its early loss in the after-market session on Monday?

Gaucho Group Holdings Inc (VINO) stock started the new week with negativity and VINO shares lost 9.45% in the normal trading session on Monday, May 3, 2021. But in the after-hours session, it gained 8.91% to close at $4.28 per share.

VINO shares have risen by 4.80% over the last 12 months, and they have moved up by 3.77% in the past week. Over the past three months, the stock has lost 78.17%, while over the past six months, it has shed 31.05%.

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Let’s have a look at its recent developments.

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The new flagship store at Miami’s Design District

On April 13, 2021, Gaucho – Buenos Aires the leather goods brand of Gaucho Group Holdings, Inc. secured 1,500 square feet of retail space at Miami’s fashionable Design District luxury fashion boutiques and shops, located in Miami, Florida.

The new store lies very close to famous leather goods brands such as Off White, Bottega Veneta, Gucci, and Chanel, as well as Tesla, Warby Parker, and Rag & Bone. Gaucho – Buenos Aires aim is to provide the Argentinian lifestyle to people across the world

Algodon Wine Estates start accepting Bitcoin transactions

 

On March 8, 2021, Algodon Wine Estates, which is a luxury residential vineyard real estate project of Gaucho Group Holdings, start accepting Bitcoin as payment to purchase its Phase 1 homesites.

New appointments

On March 5, 2021, Gaucho Group Holdings, Inc. appointed Marc Dumont as a member of its Board of Directors.

Marc Dumont has 30-year experience in the wine industry and has a rich knowledge of corporate finance, international business development, and operations.

Earlier on February 22, 2021, the company appointed Edie Rodriguez as a member of its Board of Directors.

Ms. Rodriguez has extensive experience in industries of international luxury travel and hospitality such as serving as Chairwomen of The Americas for one of the top luxury expedition cruise lines in the world and her former experience as CEO & President of Crystal Cruises Corporation

Final payment for strategic land purchase

On March 3, 2021, Gaucho Group Holdings, Inc. completed the final payment on the strategic acquisition of additional land directly adjacent to the existing property of Algodon Wine Estates, located in San Rafael, Mendoza, Argentina.

The new land measures 845 hectares or 2,088 acres, more than doubles in size as compared to the adjacent existing property.

Closing public offering of $8.0 million

On February 19, 2021, Gaucho Group Holdings, Inc. closed an underwritten public offering of 1,333,334 units, consisting of one share of common stock and one common stock purchase warrant, at a public offering price of $6.00 per unit.

The company will get gross proceeds of $8,000,004 from the offering.

Conclusion

Well, at the moment we do not have any recent activity to justify its fluctuation on Monday and its hard to predict how the company will perform in the coming days.

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