Traders seem to have lost interest in MusclePharm Corporation (OTC:MSLP) while those new to penny stock investing are snatching up cheap shares daily. After its March rally from 0.006 to 0.0375, a gain of 525%, MSLP stock has seen its share price slide, nearly touching a penny on Tuesday. With $6.22 million in Net Income for Q2 and the new distribution agreement with Dick’s Sporting Goods, investors are seeing dollar signs in the cheap shares.
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MSLP Stock Chart
Close: 0.011
Volume: 1,916,206
High: 0.0115
Trades: 35
Average Trade Size: 54,748
Authorized: 2,500,000,000
Issued and Outstanding: 1,456,435,556
Year-to-Date
Percent Change: 4.76%
Average Volume: 11,556,145
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On August 20th, MusclePharm filed their 10-Q for the period ended June 30, 2012. As many expected, sales revenue surged again topping $15 million again for the three month period. Revenues for Q2 came in at $15,429,340 versus $3,397,742 fr the same period in 2011. For the six months, revenues were $31,990,020 compared to $6,431,678 for the same six month period in 2011, an increase of 397%.
The new agreement will place MusclePharm’s award winning Assault™, Combat Powder, and Muscle-Gel on the shelves of 483 Dick’s locations nationwide. With Product shipments to Dick’s already en-route, MSLP should easily top its $15 million quarterly revenue for Q3 and beyond. Brad Pyatt, MSLP CEO, stated that “Adding Dick’s Sporting Goods, one of the nation’s pre-eminent retailers, provides us with a significant outlet that brings our products directly to our targeted consumers and further extends the MusclePharm brand name.”
The issue traders have with MSLP stems from the continued issuance of shares for debt. Few noticed that during the six months ended June 30, 2012 and the year ended December 31, 2011, the Company only issued convertible debt totaling $519,950 versus $4,679,253, respectively. They have turned the corner and sideline traders are about to miss out on the bottom with MSLP.
About MSLP Stock
MusclePharm is a rapidly expanding healthy life-style company that develops and distributes a full line of scientifically approved, nutritional supplements that are 100% free of any banned substances. Based on years of research, MusclePharm products are created through an advanced six-stage research protocol involving the expertise of top nutritional scientists and field tested by more than 100 elite professional athletes from various sports including the National Football League, mixed martial arts, and Major League Baseball. The Company’s propriety and award winning products address all categories of an active lifestyle including muscle building, weight loss, and maintaining general fitness through a daily nutritional supplement regimen.
Bottom Line: MSLP should be on the list of penny stocks to watch for those looking for the next 10-bagger. With their run from 0.006 to 0.0375 in March, MSLP could easily get hot again, real hot. Couple that with all the love the long investors in the stock have for the Company and their products and this could easily test its YTD high now that the summer is over.
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