Photo by Hector Ramon Perez on Unsplash.
You can’t have a Hot Zinger Summer without some good wine and news, and this summer has already been hot with news for luxury wine, retail and real estate company Gaucho Holdings, Inc. (NASDAQ: VINO). As the situation regarding COVID-19 has improved both in the United States where Gaucho is organized and in Argentina where most of its activities and products come from, things are looking up for the luxury brand. Additionally, as far as new announcements go, the month of June has been quite a busy one for Gaucho.
On June 15, Gaucho officially announced that it was all set to become a part of the Russell Microcap(R) Index. Gaucho stated that its VINO ticker would be added into the index “at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28, according to a preliminary list of additions posted June 4.
On the very next day, June 16, Gaucho opened up a brand new Amazon Storefront to sell an entire line of products under the Gaucho – Buenos Aires moniker and caught many headlines for it. From leather bags, wallets and hats to scarves, blankets and more, the lineup shows a commitment on the part of Gaucho toward a continuing emphasis on e-commerce and expansion of its business categories.
And additionally, to round out a trifecta of three days of news blasting, on June 17, Gaucho announced that it had entered an agreement with a private luxury property, real estate, renting, and development company LVH Holdings LLC to be the designated developer for its ambitious Las Vegas joint project.
The project was already announced but seems that it had not yet settled on a developer as Gaucho stated, “As previously announced, Gaucho Holdings has partnered with retail, hospitality, lifestyle, entertainment, leisure and gaming visionaries, Mark Advent, the creator of highly popular New York New York Hotel and Casino, A. William (“Bill”) Allen, Timberline Real Estate Partners and Open Realty Advisors for the purpose of creating a Gaucho Group Holdings development and Gaucho Group Holdings brand extensions in Las Vegas.”
As these pieces of news have come out, its VINO stock has moved around. On June 16, VINO rocketed upward to a high of nearly double its price. The stock fell back down to some degree then rose again and has continued a volatile few weeks.
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