Momentum continues to dominate the market for shares of SinglePoint, Inc. Common Stock (OTCMKTS:SING), with shares rising as much as 105% in the past couple weeks. The action follows news from the company that it has completed production of their crypto wallet application commercial featuring original Shark Tank member Kevin Harrington. According to the release, “The next step for the company will be to receive approvals from the major national networks. SinglePoint has four spots ranging from 15 seconds to two minutes.”
This has sparked renewed interest in the stock, and helped shares power off of recent pivot lows scored at the close of May. That low represented a double-bottom base lining up with the stock’s early April bottom in the $0.025/share area.
SinglePoint, Inc. Common Stock (OTCMKTS:SING), aside from its recent pivot into the crypto space, trumpets itself as a company that provides mobile technology and marketing solutions for small to mid-size businesses, nonprofits, and religious organizations. Its solutions enable clients to conduct business transactions, accept donations, and engage in targeted communication through mobile devices.
SING’s portfolio includes; Text2Bid, a mobile bidding solution that allows users to bid in auctions from text or Web-enabled phones; Donate by Text, a solution that allows nonprofits to securely collect donations via text; Pay by Text that allows customers to pay for products using their mobile phones; and Point of Sale terminals to provide customers the convenience of using debit/credit cards right at checkout.
SING also provides Oomy, a solution that enables companies to track and manage their fleet vehicles, drivers, and deliveries; text mobile marketing solutions; SingleSwipe that enables customers to turn any device into a point of sale payment processor with the SingleSwipe card reader; and other solutions.
According to company materials, “SING is a full-service mobile technology and marketing provider. We provide solutions that allow our clients to conduct business transactions, accept donations, and engage in targeted communication through mobile devices. Our products connect small to mid-size companies to their target markets by providing innovative mobile technology at reasonable rates. The company recognized the strength in acquiring interest in undervalued subsidiaries in other markets to create a diversified holding base.”
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As noted above, the stock has been showing a ton of upside momentum in recent action following the company’s announcement that it has completed its crypto wallet application featuring Kevin Harrington.
“We are very excited to have this project reach the ultimate goal of getting national airtime. We have already been pre-approved on one national network and will now send the commercial spots to others for approval as well. We are confident that this will drive many users to the platform as we will provide an educational document and help those interested in bitcoin and crypto become more familiar and comfortable with it,” states Wil Ralston, President of SinglePoint.
The chart shows 74% added to share values of the name over the past week of action, but this action is running counter to the larger trend in the name. What’s more, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running 81% above the average volume levels in play in this stock over the longer term.
Currently trading at a market capitalization of $49.8M, SING has a stash ($334K) of cash on the books, which stands against about $203K in total current liabilities. SING is pulling in trailing 12-month revenues of $334K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 18080.8%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $SING stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $SING, either long or short, and we have not been compensated for this article.