First Global Data, symbol FGD.V, is a tiny company with a market cap of $155M. It is a fintech (financial technologies) service provider. Its stock price went already up 30-fold but has much more upside potential.
The growth of First Global Data was recently proven with facts and figures from the company itself: “Since the beginning of the third quarter 2016, the Company has experienced an average of 18% growth week-over-week in its international payments business, representing an overall growth in transaction volumes of 2,869%.” Their service visibly got traction which implies it is ready to scale.
Although FGD.V has an EPS of -0.01 it is growing its reach and future revenue extremely fast. That is because they are serving an unmet need: flexible payments for a large group of people who don’t have access to traditional banking.
Accordingt to the company, since the September 20, 2016 launch of its mobile payment service in India , the Company has experienced an average of 22% week-over-week growth in number of new customers and an average of 20% week-over-week growth in transaction volumes, with customers performing an average of 3 transactions each.
Their payment service includes mobile payments, peer to peer payments, bill payments, with universal reach. They are active primarily in Asia, also in Africa, but imagine how large that group is of people that do not have access to normal banking services. Visibly, they are picking up First Global Data’s service very quickly.
The company announced postitive results on their Vpayqwik mobile payments in India and successes in China, both huge markets.
FGD.V currently explores a Shanghai Stock Exchange listing.
For all of the above reasons, InvestingHaven’s research team believes there is much more upside potential in this tiny fintech stock.
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