The NASDAQ listed penny stock of WPCS International Inc. (WPCS) went absolutely berserk yesterday after the Company announced it had acquired BTX Trader, LLC, a technology-based start-up seeking to conduct business in the emerging Bitcoin industry. Having swung most of the year like a monster for 100% gains multiple times, WPCS stock should be atop every traders watchlist prior to the open today and remain there throughout the session. The Company whose multi-million dollar revenue stream is built on “designing and building the infrastructure that is creating a better world” could hand out bags of profits which can only be confirmed from the 5PM conference to discuss their acquisition and backlog of $25.4 million in orders to fulfill.
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WPCS Stock Quote
Market Cap: 2.08M
Wednesday Close: 1.64 ▼ -1.49 (-47.60%)
Issued and Outstanding: 1,558,669
14-Day Rel Strength: 36.24%
1st Resistance Point: 2.6667
1st Support Level: 1.0667
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WPCS International was trotting right along for their first 6 months of fiscal 2014 when they reported their Q2 results 2 days ago. Revenues were roughly equal to the same periods last fiscal year: $7,355,744 and $7,958,243 for the 3 months ended October 31, 2013 and 2012, respectively, and $15,187,127 and $19,246,260 for the 6 months ended October 31, 2013 and 2012, respectively.
In the Company’s PR on Monday, WPCS stated that they had a backlog of $25.4 million in orders to fulfill and a bid list of $40.5 million in potential projects. That type of news, coupled with an issued and outstanding structure of under 1.6 million shares would have sent any OTCBB listed stock through the roof – with or without any kind of awareness tied together to it.
Yesterday, WPCS stock hit the floor, a new 52 week low of $1.52, after they announced their acquisition of BTX Trader, LLC. Bitcoin, a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments, has been a huge winner for tens of thousands of traders who flip it daily. Few even know that the total number of Bitcoins that will be issued is capped at 21 million to ensure they are not devalued by limitless supply.
The short-term chart for WPCS looks like you should run away and hide from it, but when you check out the YTD chart, the dip yesterday is indicative of one sure thing: A HUGE FRIGGIN BONCE!
Going way-way out on a limb, APS’ www.pennystocks.com was supposed to issue a new pick this week and, being that it is Thursday (one of their favorite alert days in the past) and how almost 10X the issued and outstanding WPCS shares traded yesterday, everything is pointing to WPCS stock seeing some major action and massive bitcoin love as soon as pre-market trades start being filled.
About WPCS Stock
WPCS International Inc. is a design-build engineering company that focuses on the implementation requirements of communications infrastructure and provides its engineering capabilities including wireless communication, specialty construction and electrical power to the public services, healthcare, energy and corporate enterprise markets worldwide.
Last 5 Trading Sessions:
WPCS is due to explode and any other penny stock over $1 on your list should be knocked down a notch to make room for the top of the list to have this ticker today. How can a bitcoin trader acquisition and a an increase in authorized shares be such a huge negative factor for a Company with an existing $25 million in back orders? It can’t and this is why WPCS stock is due for a HUGE FRIGGIN BOUNCE!
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