Monster Digital Inc. (NASDAQ:MSDI)
Monster Digital Inc. (NASDAQ:MSDI) impressive price run shows no signs of slowing down. Sentiments on the Street have been bolstered by a string of value generating distribution deals in the recent past. The company is fresh from announcing a distribution agreement with Ingram Entertainment Inc. after having signed a similar deal with Petra Industries and announcing expansion plans into Canada.
Ingram-Petra Distribution Deals
Ingram, a distributor of home entertainment products, is now set to start offering Monster Digital Inc. (NASDAQ:MSDI)’s line of action cameras as well as Virtual reality headsets and cameras as part of the deal.
“Ingram Entertainment Inc. is very excited to offer Monster Digital’s products to the retail channel. We feel their cameras and VR headsets will be a great fit for our diverse range of retail partners,” said Ingram Entertainment VP, Tom Blaton.
The deal with Ingram completes a similar deal that Monster Digital signed with Petra industries – also set to make Monster Digital products available in a good number of retail outlets. The deal with Petra expands the company’s distribution channel into independent retailers which has been identified as a key area for growth opportunities.
In a bid to bolster its distribution channel, Monster Digital Inc. (NASDAQ:MSDI) is also in the process of pursuing new opportunities for growth in Canada. The company has confirmed the signing of an exclusive partnership with Curve distribution.
Based in Alberta Canada, Curve Distribution will now start distributing Monster Distribution products. The distributor boasts of a robust distribution channel made up of over 5,000 Canadian retail stores that Monster Digital believes will play an important role in making its products available to the mass market.
Expansion into Canada is part of Digital Monster push that seeks to make its line of action and virtual reality cameras available on the international market. The company is currently working on making its products available in the UK, France, Italy, Finland, and Sweden as it continues to look for ways to bolster sales.
Separately Monster Digital says it has received a letter from the Nasdaq Stock Market notifying it that its shares not comply with the minimum $2,500,000 stockholders equity requirement. The company has since been given 45 days or until June 1, 2017, to comply with the requirement.
Monster Digital Inc. (NASDAQ:MSDI) is currently working on a number of courses that it hopes will help it regain compliance as required by the NASDAQ requirements.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.
About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.