In the current trading session, at last, check Muscle Maker Inc. (GRIL) stock surged by 3.33% to $1.24. GRIL’s previously closed the session at $1.20. The GRIL stock volume traded an average volume of 426.22K shares for the past 3 months. In the past year up-to-date GRIL shares have shed -33.33% and in the past week dropped by -16.08%. In the past three and six months, the stock shed -56.60%and -36.17% respectively. Furthermore, GRIL is currently valued at $16.45 million and has 13.83 million outstanding shares.
Why is the recent Pokemoto acquisition by MMG is gaining a lot of hype
The company announced today that it is acquiring Pokemoto which is known for its modern culinary and flavorful meals in Hawaiian poke classic.
Pokemoto has a thirteen location concept with six extra franchise arrangements offered to be opened later on. The acquisition allows MMG to expand on the recent launch of offering which consists of a variety of fresh-prepared “Healthier For You” meals. The organization accepts that Pokemoto segment will bring about an expansion of sushi-based meals and food and widen the quality supper portfolio, appealing to a wider customer base. GRIL stock research and management group has been extensively exploring acquisitions opportunities that fit into its non-traditional development strategy.
The idea likewise fits consummately with Muscle Maker Group’s ghost kitchen model. Purchasing one more growth-oriented meal-prep company speeds up GRIL’s top-line income development and adds another solid brand to the conveyance just side of the business. The Pokemoto total revenue of $3,653,478 in 2020 addresses a critical expansion in overall revenue to Muscle Maker. In 2020, Muscle Maker’s total revenue was $4,473,447. The addition of Pokemoto revenue will build Muscle Maker, Inc’s. total revenue by 81% to $8,126,925.
Entering into the cryptocurrency transactions by allowing Bitcoin as payment
The company also entered the cryptocurrency market by allowing Bitcoin as a form of currency acceptable at any MMG’s retail shop for transactional payments.GRIL stock had recently acquired SuperFit Foods which is likewise an exceptional meal prep business. SuperFit Foods delivered more than 220,000 meals in 2020. Though this is now a very fresh and early trend in the market to accept cryptocurrency as payment and many companies do not engage in this due to the volatility of the crypto market.
MMG is expanding into the meal prep market
MMG’s CEO Mike Roper accepts that the market of meal prep is immense yet fragmented. This assertion is reflected by the complete market assessment of the meal prep business which was $7.6 billion in 2019. Besides, the market is relied upon to extend by a yearly development pace of 12.8% from 2020 to 2027. MMG has goals of assessing different organizations in the future to extend its operational premise and grab a more extensive market. This viewpoint bears uplifting news for the long-term investors hoping to get tied up with the GRIL stock till 2021.
The new obtaining of Superfit Foods, the upcoming opening of four locations at the Northern Virginia Community College framework alongside the economic recuperation following the rollout of COVID immunizations is expected to drive additional revenue growth all through the rest of 2021
What you need to know about Muscle Maker Grill
Muscle Maker Grill is a fitness and diet-based healthy food serving company. It is a unique concept of a prepared meal plan company that specializes in all assortments of lean and protein-based food. The customers targeted are usually fitness and diet-oriented who are given freshly prepared customized meals of their liking. Muscle Maker Inc. has two subsidiaries known by the name of Muscle Maker Grill and Muscle Maker Corp, LLC.
These meals contain all-natural foods that range from whole wheat pasta, wraps, steaks, turkey, chicken, and a lot more. It offers a similar healthy range of ingredients in its smoothies and shakes. To capture the health and fitness market it diversifies its product offering by including protein powder and supplements.