Clearly Canadian Corp->"Richard Geist, who publishes an investment newsletter, says Orbitz is just the most visible sign of a turnaround. He thinks the stock will take off and double in a year. Insiders like Mason and other officers now own 25% of the shares, up from 10% last year. After Orbitz, Mason plans to introduce exotic herbal and other drinks. He's also sitting on about $15 million worth of cash and is hungry for acquisitions. A Canadian juicer may be the first swallowed."
Tastes Like Lava Lamp clearly.ca
Fortune Magazine, June 1996.
Written by Eric Schonfeld
In what will either be the next craze among fifteen year olds or the latest dud to enter the annals of marketing misfires, Clearly Canadian Corp. (CLCDF, Nasdaq) is set to launch a unique drink called Orbitz. Resembling a mini-lava lamp, each bottle contains a whipped up gelatinous fluid in which fruit flavored gelatin spheres are suspended. (Yum!) CEO Doug Mason hopes kids will be hooked: "This could be another Hula-Hoop," he enthuses.
A few years ago Clearly Canadian's soda helped usher in the "clear" soft drink fad. Its 1995 sales (not yet reported) are estimated to have declined more than 25%, to about $50 million. The Vancouver company is expected to post a loss because of restructuring charges and consumer migration to iced teas and fruit drinks. Long since fallen from its 1991 high of $24 per share, the stock is now trading near $3.50.
Richard Geist, who publishes an investment newsletter, says Orbitz is just the most visible sign of a turnaround. He thinks the stock will take off and double in a year. Insiders like Mason and other officers now own 25% of the shares, up from 10% last year. After Orbitz, Mason plans to introduce exotic herbal and other drinks. He's also sitting on about $15 million worth of cash and is hungry for acquisitions. A Canadian juicer may be the first swallowed.
Back to Press Clippings |
