Cheap Stocks: NeoMedia Technologies (NEOM) Heating Up

The Share price of NeoMedia Technologies Inc. (OTC: NEOM) has settled down since Global Grid picked up 69,754,891 shares of the penny stock in March. The penny stock of NeoMedia closed up 10.58% $0.023 rallying to finish off the week up 5.5% on heavy volume of 51.49 million.

The penny stock of NeoMedia Technologies, NEOM, is currently up 64.29% since our January 17 alert and up 103.54% for 2012.

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NeoMedia shares gained after the company announced that Antonio Sepulveda G. was appointed as its new V.P. of Sales and Business Development for Latin America. Mr. Sepulveda has over twenty years experience in the telecoms industry and possesses a deep knowledge of QR technology and applications. He is expected to take on the responsibility for the sales and business development of NEOM’s core products, NeoReader® and NeoSphere™.

NEOM Stock Snap Shot:

Market Cap: 10.06M
52-Week High
(May 31, 2011): 0.23
52-Week Low
(Mar 15, 2012): 0.01
Avg Vol (3 month): 39,351,700
Avg Vol (10 day): 35,737,300
Shares Outstanding: 437.38M
Float: 298.48M
% Held by Insiders: 2.75%

NeoMedia Technologies Inc. is an innovator and a worldwide leader in 2D mobile barcode technology and solutions that enable the mobile barcode ecosystem globally.  NeoMedia is striving to harness the power of the mobile phone with their state-of-the art mobile barcode technology. With this technology, mobile phones with cameras become barcode scanners and allows a range of applications which include consumer oriented marketing and advertising, mobile ticketing and couponing, and business-to-business commercial track and trace solutions.

To view the SEC filings of NEOM, click here.

Bottom Line: NEOM was one of the hottest penny stocks for a few days last month when Patrick Soon came out of nowhere and bought up 69,754,891 of NeoMedia’s stock causing a three day rally. Had you bought on our January Alert and sold during the rally like some readers did, that would have been a 333.33% gain. (see here)

NeoMedia is set to report earnings sometime in the near future for Q4 and fiscal 2011 which should top $2 million revenues. NeoMedia has a niche which is growing and important for corporations to be able to track the trends of consumers. Assuming this gets as popular as text messaging is now, NeoMedia and their penny stock, NEOM, will be in for some rewarding fiscal years in the near future.

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