Lets get to the bad news first and then the good news. The stock has undergone a few modest reverse splits over the last couple years. This means this stock is good for a trade on technicals, news, momentum, but not something you want to be holding for an extended period of time.
The good news is that there are only 500 million shares authorized and less than 100 million outstanding as of late June. The outstanding shares have likely increased as the price per share has fallen, but the limit is 500 million. Not an overall bad number for a $.0014 stock. The stock has reached levels where buyers will step in just to play the momentum. These $.001 stocks have been flying off the shelves lately. All this stock needs is a match to hit the fuse and it will explode.
That match might be the acquisition MPTO is planning. They are negotiating to acquire Bayside Holdings, a Diamond and Gem Importer. Read about it here:
http://www.mp2technologies.com/id16.html
Bayside Holdings web site is here:
http://baysideholdings.com/Home_Page.html
MPTO should bounce at some point, the guru thinks it will be sooner rather than later, with a possible move coming this week. Today the stock took selling volume in stride and closed off its $.001 low. That might have been the lowest you will see this stock trade for some time. Total volume has been light for this $.001 stock with the biggest day being 15 million shares.
With any reasonable buying volume MPTO could hit $.003 in short order for an easy double. A push over $.01 would not be surprising as this was once a $.20 stock. The rate of decline was slow and deliberate and we think the rate of bounce will be fast and precise.
When news of the MPTO acquisition hits the wires the stock will have the fuel it needs for liftoff, if it hasn't already been sent into orbit by then. Of course either way the Guru will have pointed the stock out to you at the bottom, and that's all that matters.
Keep MPTO on your watch list going forward.
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3 comments:
I know why this got "sold down" - a friend of mine has been holding and really got frustrated and needed funds fast, he just sold it to whatever on Tuesday. When he told me about it I couldn't believe he tanked this so low. Anyway, I saw an opportunity to buy more, what an idiot.
Thanks for your blog.
Stockguru you've got a nasty track record (meaning good). So i researched the mpto move and jumped in and out for 25% take. I've checked alot of peoples moves and been misinformed. I've researched a bunch and been misinformed. Thx for stearin' people in the right direction.
what do you think about today's pullback
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