Last time shares in the penny stock of Apps Genius Corp (OTC: APGS) got coverage in early February, it rallied from .10 to .505 from the 2nd to the 8th. That’s a 405% gain on a 5 day trade. Since then, APGS slowly drifted lower on low volume where it currently trades today: $0.101. Well, time to wake this bad-boy up because Apple’s earnings coupled with comments made form some of the biggest venture capitalists makes it obvious APGS have something lined up.
Apps are set to become the money makers off of Android and Apple’s technology. Apps Genius Corp, develops markets, publishes and distributes social games and software applications that consumers can use on a variety of platforms. The platforms include social networks, wireless devices such as cellular phones and smart phones including the Apple iPhone and standalone websites.
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APGS Stock Snap Shot:
Market Cap: 3.27M
(Aug 3, 2011): 1.25
(Apr 17, 2012): 0.085
Avg Vol (3 month): 89,469
Avg Vol (10 day): 102,343
Shares Outstanding: 32.40M
5 Day Summary:
Percent Change: 12.22%
Moving Average: 0.0972
Average Volume: 127,186
10 Day Summary:
Percent Change: -6.48%
Moving Average: 0.0961
Average Volume: 90,837
As you can see, APGS had a 5 day rally in February which ran from .10 to .505 from the 2nd to the 8th before retreating. RSI (14) is under 50 but trending towards bullish whereas the MACD Indicator has APGS poised for a breakout.
APGS Day Trade Support/Resistance Points:
1st Resistance Point 0.12 2nd Resistance Point 0.135
1st Support Level: 0.095 2nd Support Level: 0.085
So What’s happened with APGS since February?
• APGS raised $1million from institutional investors @ .175/share,
• APGS announced it acquired new technology to build another new game in production for Snooki,
• APGS filed their 10-K with the SEC (see here),
• APGS held the Best Apps Developer Contest with $10K Cash Prize which led them to acquire Game-Engine to build another Snooki game,
• On Monday, APGS released Private Book: the Secure Notepad and Address Book App for iPhone which is available on iTunes,
• And just Yesterday, APGS announced the signing of a Strategic Partnership with Weekend Game Studio.
Weekend Game Studio is the creator of Bye Bye Brain, an action zombie fighting game, which has quickly exceeded 250,000, downloads for Window’s Phone. APGS and Weekend Game Studio have partnered to develop an action based iPhone and Facebook game for Mike “The Situation” Sorrentino and his family.
Bottom Line: Add APGS to your list of penny stocks to watch today. Last time the penny stock had coverage, APGS ran for a cool 405% in 5 trading sessions. We think Apps Genius shares traded down based on the news of the capital raise, however we think its good news. If institutional investors see something worth investing in at .175 we certainly think it’s worth watching at .101.