The irony of a name is sometimes enough of a hint of whether or not to buy a penny stock r to avoid it. Take Luve Sports, Inc. (LUVE) for instance: focused on tennis products in Mexico under what every tennis novice knows “love” means “0.” Even though they changed their name from Prince Mexico S.A. Inc. after a failed attempt to promote LUVE stock back in the beginning of the Summer, the chart shows just how ironic the ticker is into eventually becoming the price of what it’s pronounced meaning has in it’s target sport market.
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LUVE Stock Quote
Market Cap: 2.50M
Tuesday Close: 0.0579 ▼ -0.0081 (-12.27%)
Dollar Volume: $20,594
Issued and Outstanding: 43,166,901
14-Day Rel Strength: 37.67%
1st Resistance Point: 0.0699
1st Support Level: 0.0479
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Forgetting that LUVE Sports is one month late in filing their 10-Q for the 3 months ended September 30, 2013, forgetting that LUVE stock has been abysmal for the better part of every trading session since it hit $1.04 in March, forgetting that “Z” listers are apparently being paid 10X their average rate to pump the POS, here are the reasons why you should buy LUVE stock Wednesday:
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Now, why LUVE stock should be avoided:
The reason why their late to file their Q is likely because investors will be able to see that there are more than the stated number of shares outstanding since their last update. Couple that with the lack of growing revenues and you get any reason why a suspected bounce back to anything worth being involved in ain’t worth being involved with.
LUVE stock had its run – a whole 3 trading sessions in June other than the front loaded pre-promo back in March. LUVE stock has never traded more than 3.5 million shares except for the day in June when it dumped from 0.36 to 0.12, closing at 0.14. Besides the 3-day June run, 1 million shares traded has only happened in a hand full of sessions making getting in a lot harder than getting out unless $225 is the amount you’re looking to volley up for a gamble.
At the close of yesterday’s session, LUVE sports announced their intentions to do some business with Privalia Venta Directa, SA, an online private sales club with operations across Spain, Italy, Germany, Brazil and Mexico. Honestly, they could get in bed with Amazon and little to nothing wold change. If you check our initial coverage on Prince Mexico S.A. from back in March, you’ll see that retail sales are virtually meaningless when you work the percentages into it.
Regardless, the chances of seeing anything better than .07 with a .0579 entry point would mean that you would need to throw $10,000 into LUVE stock to make $800 which doesn’t seem to be the bet move to make a week before Santa comes to visit.
About LUVE Stock
LUVE Sports, aka Prince Mexico S.A., is a development stage, sports distribution company focused on delivering industry-leading sport products to the Mexican markets with the plan to expand into the South American markets.
Last 5 Trading Sessions:
LUVE has been an embarrassing penny stock for the majority of 2013 and a weak, over-compensated promotion should do little to change that. It would take a “Williams” kinda smash to smack this POS over the .10 net and keep it there long enough to make getting in worth walking on the court.
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