To the outside observer, you might look at the stock's price action over the last couple of days and think the street does not like the acquisition. I would point out one thing. Timing is everything, and sometimes timing is uncanny. The very day that this news about the purchase of Belami Ecommerce hit also happened to be the first anniversary of SKYX going public. That also means a lock-up expiration, and people in the stock from the penny range pre-IPO can now sell some shares and lock in some profit. The share price could test the three dolla holla as support, and if it closes below that level, it would be frustrating to see. However, at the same time, those that are watching the story and have done their due diligence will recognize what I see as a massive addressable market, all based on safety and improving efficiencies.
Yesterday, I sent out a note about SKYX and why I thought the acquisition was a brilliant strategic move. While I fully believe that SKYX will get a standardized mandate. The investment SKYX announced yesterday provides 64 platforms with 86 million in revenues. SKYX has a path for distribution and a marketing platform already geared toward home decor and the lighting industry. With or without a mandate, this platform is strategic and needed.
Today we are only talking about the Skyplug receptacle and the retrofit kit for those that would like to switch out their fan or light fixture. These two products are meaningful, but they are only the beginning for SKYX, with multiple products in the pipeline to make an entire industry safer and more efficient.
We have yet to discuss the ceiling fan with a space heater built in. A genius product and one that I categorize as an ESG green energy play, you have the ceiling fan pushing the heat from the space heater directly down to the bed. Currently, most people are heating the entire house with natural gas to get the bedroom to the temperature they are comfortable sleeping in. Imagine the cost savings as you reduce the use of natural gas and lower your carbon footprint.
Then there is the Gen 2 Smart home platform that will allow a homeowner to make their entire home a smart home at a lower cost in a fraction of the time it would take if you were to start the process without the Skyplug Platform.
The SKYX story has only just begun, and there are new developments every week. That makes me more excited about the possibilities that lie ahead. I highly recommend watching this video if you have not seen the product.
1. In the last 90-120 days. SKYX has received ANSI and NEMA certification.
2. SKYX has become part of the curriculum for the American Architects association.
3. Attended CES and masterfully planned to make a lasting impression on anyone who went to CES, Even if you couldn't make it to their booth the strategically placed banner displays throughout the show made it nearly impossible not to see the SKYX product and brand. SKYX walked away from their first trip to CES with five awards.
Watch this quick Video below. The show participant sums up nicely how incredibly efficient the Skyplug is
CES Participant reaction to SKYX platform
4. SKYX attended the Dallas ALA America lighting manufacturers association conference, where the company was considered the "belle of the ball" by those I spoke with who participated in the show
5.SKYX has received the generic name approval from the NEC as the WSCR weight-supporting ceiling receptacle
6. SKYX attended the NAHB International Builders' Show | IBS 2023 and received validation from some of the most prominent builders in the country. The SKYX booth had a constant flow of significant industry leaders asking to have their badges scanned for more product information.
7. Agreed to acquire a Belami Ecommerce which has 64 home decor and lighting industry websites that collectively generated 86 million in revenue with what I would consider a stock and cash deal brilliantly executed to put SKYX in a fantastic position to promote awareness about their game-changing products and distribute those products the moment they are available
Any weakness in the share price is an opportunity, no make that a gift to add to a position or start a position if you have not done so already. Of course, this is only my opinion, and that, along with five bucks, will get you a good cup of coffee. I do not tell people what to buy or when to buy; I share my thoughts and present the story as I see it. I encourage everyone to do their due diligence and speak with a licensed financial advisor. Also, take a look at the most recent Benchmark report by Michael F. Legg's on SKYX.