LQR House Inc. (the “Company” or “LQR House”) (NASDAQ:LQR), a niche ecommerce platform specializing in the spirits and beverage industry, provides an update on the progression of its Share Buyback Program and shares Fintels updated price target for LQR.
LQR House has executed another tranche of its Share Buyback Program, reinforcing its commitment to shareholder value. During the week ending, December 15, 2023, the Company strategically repurchased 499,940 shares of its common stock at an average cost of $2.26859 per share, following Rule 10b-18 guidelines. This move was the Companys response to shareholder concerns, demonstrating the managements attentiveness and dedication to enhancing value by reducing the available free float.
Sean Dollinger, Chief Executive of LQR House, expressed his ongoing belief in the Companys resilience, citing the recent events as a testament to its strength. Mr. Dollinger stated, “With continued confidence in our business and pipeline, the management team believes that Company shares are an attractive investment opportunity.” He emphasized his thoughts on the undervaluation of LQR House shares and the share repurchases serving as a value-enhancing use of capital. Mr. Dollinger further commented on the Companys financial discipline and strategic focus, stating, “As we look at the broader landscape and the strategic opportunities before us, we intend on remaining financially disciplined with a clear focus on executing against our strategy, delivering value for our shareholders, and investing in our future.”
Additionally, Fintel published an article on December 16, 2023, detailing a staggering 5900.00% increase in the average one-year price target for LQR to $306.00 per share from the prior estimate of $5.10 per share dated November 26, 2023. The average one-year price target for LQR House has been revised significantly, reflecting an increase of 11,806.61% from the latest reported closing price of $2.57 per share. This positive adjustment is based on various analysts estimates, ranging from a low of $303.00 to a high of $315.00 per share. For more details, read the full articlehere.
About LQR House Inc.
LQR House intends to become a prominent force in the wine and spirits e-commerce sector, epitomized by its flagship alcohol marketplace, cwspirits.com. This platform seamlessly delivers a diverse range of emerging, premium, and luxury spirits, wines, and champagnes from esteemed retail partners like Country Wine & Spirits. Functioning as a technology-driven hub, LQR House utilizes software, data analytics, and artificial intelligence to elevate the consumer experience. CWSpirits.com stands out as the go-to destination for modern, convenience-oriented shoppers, providing a curated selection of alcohol products delivered to homes across the United States. Beyond its role as an e-commerce leader, LQR House is a marketing agency with a specialized focus on the alcohol industry. The Company measures campaign success by directly correlating it with sales on CWSpirits.com, demonstrating a proven return on investment. Backed by an influential network of over 550 figures in the alcohol space, LQR House strategically drives traffic to CWSpirits.com, enhancing brand visibility. LQR House intends to disrupt the traditional landscape of the alcohol industry, driven by its dedication to providing an unparalleled online purchasing experience and delivering tailored marketing solutions.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Companys current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Shareholders can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement on Form S-1 filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Companys registration statement on Form S-1 and other filings with the SEC. Additional factors are discussed in the Companys filings with the SEC, which are available for review atwww.sec.gov.