Surge Holdings Inc (OTCMKTS:SURG) Continues to Surge Higher

Surge Holdings Inc (OTCMKTS:SURG) Continues to Surge Higher

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One stock that recently caught fire following a series of promising catalysts on the OTC is Surge Holdings Inc (OTCMKTS:SURG). In many respects, this looks and feels like a Nasdaq stock that hasn’t uplisted yet. For example, the company just completed an acquisition that will drive expected 2020 revenues to as much as $68M according to information from the company.

In addition, Surge just announced that it has been recognized in Deloitte’s 2019 Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, and energy tech companies in North America. In other words, the stock’s recent breakout to the upside appears to be on strong footing as the company pushes performance expectations higher.

Surge Holdings Inc. (OTCMKTS:SURG) is a retail supply chain solution provider that provides a virtual wholesale marketplace hub for retailers, as well as telecom services for low income customers and financial payment services for the unbanked and underbanked.

Surge products are delivered through a nationwide network of convenience stores and corner markets connected to the recently launched SurgePays Network.

This retail platform is designed to transform the traditional supply chain by providing local retailers seamless access to global products and to empower the corner store to select, order and fulfill delivery of wholesale goods from around the country.

This platform also provides manufacturers a cost-effective and efficient platform to access point of sale retailers nationwide.

The CEO has published his vision in detail: “My strategy for business building over the last 18 years has been based on recurring revenue from providing life-enhancing technology products for the underbanked with a focus on Relationships. During this time period, the market has grown to over 100 million prepaid wireless users in the USA with approximately 35% of the country now falling into the underbanked category. This is the last digital frontier and Surge is positioned for the land grab.”

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As noted above, SURG just announced that it has been recognized in Deloitte’s 2019 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, and energy tech companies in North America.

Traders will note 15% tacked on to share pricing for the stock in the past month. Moreover, the company has registered increased average transaction volume recently, with the past month seeing just under 120% beyond its prior sustained average level.

Anthony Nuzzo, President of Surge, stated, “We are honored to receive this recognition from Deloitte as one of the 500 fastest-growing companies in North America for 2019. In just a few short years, we grew from a monthly revenue run rate of approximately $125,000 to over $5 million per month. We achieved these results while 2019 was primarily focused on product development and building our infrastructure to support our anticipated continued growth going forward.  In particular, this award highlights our tremendous progress in the rollout of the SurgePays Marketplace, a product sales channel that disrupts the traditional c-store supply chain model by providing local retailers direct access to regional manufacturers from around the country. Overall, we believe we have built a solid foundation for rapid and scalable revenue growth in 2020 and beyond.”

Now commanding a market cap of $35M, SURG has a reserve ($144K) of cash on the books. SURG is pulling in trailing 12-month revenues of $16M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 21%, with as much as 4,600% growth over the past two years when compared to forward sales following its recent acquisition of ECS. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $SURG 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 $SURG, either long or short, and we have not been compensated for this article.

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