Provider of mobile loyalty services and solutions, Snipp Interactive (SPN.V), saw a huge rally last year, followed by a correction that started in June of this year, after the company announced to acquire Hip Digital Media. To that end, the company chose for shareholder dilution, as it paid with 12.8M new shares and cash. Shareholders did not like that idea.
Menatime, SPN.V has been consolidating between $0.40 and $0.52, and, as the chart shows, it could be setting up for a big breakout.
Fundamentally, the company is growing at a pace of 500% per quarter, but is still making has a lot of $2M annually. There are 105M shares outstanding with a market cap of $50.6M, which is not exactly a balanced ratio.
We are watching the revenue growth in the next quarters: if the company succeeds in growing at the same pace, then the breakout is a matter of time.
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