Sitting just inches away from its all-time low set at the beginning of the month, traders should expect to see a resurgence in the penny stock of CrowdGather, Inc. (CRWG) any day now. Resurrecting one of the hottest domain names under their control, CRWG stock should be on the top of the watchlist after announcing the relaunch of one of its largest branded communities: RapMusic.com. With a market capitalization almost equal to the revneus booked for the nine months ended March 31, 2013, getting jiggy on a bounce is surely in the near future now that the asset they purchased in 2011 can help bring in even more Benjamins.
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CRWG Stock Quote
Market Cap: 1.96M
Last: 0.0335 ▲ +0.007 (+26.42%)
Issued and Outstanding: 58,372,708
1st Resistance Point: 0.0288
1st Support Level: 0.0253
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Making money from a vast array of assets purchased over the years, CrowdGather is about to strike it rich now that RapMusic.com, one of the world’s largest communities focused on rap and hip-hop enthusiasts, with a passionate audience of young urban fans, is live. CrowdGather originally purchased the website in 2011, and has been working with community members to improve the overall member experience.
Using the internet fr what its worth, CrowdGather works with third-party advertising networks and advertisers pay for advertising on a cost per thousand views, cost per click or cost per action basis. With a year end of April 30, the Company realized revenues of $508,689 for the 3 months ended January 31, 2013, as compared to revenues of $549,750 for the 3 months ended January 31, 2012.
But, check this out: gross profit for the 3 months ended January 31, 2013 was $482,937 as compared to gross profit of $544,957 for the 3 months ended January 31, 2012.
That means costs to produce the revenues CrowdGather books costs them virtually nothing. Now factor in what they will be generating from RapMusic.com in click ad revenue and you can see that those quarterly figures should see a significant increase once traffic increases.
About CRWG Stock
CrowdGather, Inc. is a social networking, internet company that specializes in developing and hosting forum based websites.
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CRWG has been doing a bad version of the electric slide until this month and this launching of RapMusic.com should send this penny stock into the 10 cent level or better. The share structure is good enough to support a decent run and with just a couple of good strong buys, the MM’s look like they could cave in, sending CRWG stock to a nickel before the weekend.
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