Traders who began loading up on shares in the penny stock of SMACK Sportswear (OTC: SMAK) over the last few weeks are going to force some spikes in the volley from here on out. Awaiting an awareness campaign to commence on the volley ball apparel focused Company in the near-term, SMAK stock, due to its insanely low public float, has already increased over 200% in the last three weeks. Now that more investors are about to find out just how tough it is to get shares after the Company hired the former CFO of True Religion Apparel (TRLG), Charles A. Lesser, as the Company’s new CFO, you can forget about trying to smack the bid on this penny stock if you have any intention on getting in.
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SMAK Stock Chart
Market Cap: 18.80M
Close: 0.47 ▼ -0.01 (-2.08%)
Dollar Volume: $61,948
Average Trade Size: 3,407
Issued and Outstanding: 40,000,000
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SMACK Sportswear just closed the purchase of Team Sports Superstore, Inc., a California based athletic store owned by the Company’s President and CEO, Bill Sigler, that markets and sells custom volleyball apparel and equipment products through the internet, retail, club teams and schools. That’s not the big kicker as to why the spike in volume will be limited. On August 31, 2011, Sigler acquired 37,150,000 shares — That’s 78.9% of the issued and outstanding shares. Can you do the math? That means the float is just 2.85 million shares!
Now with the addition of a TRUE soldier and pioneer in the apparel industry, the doors are much easier to open when it comes to getting the SMACK Sportswear line of products into the hands of those who can make or break this start up. Sure, adding Team Sports Superstore and the revenues they bring onto the books was a great miniature reverse merger deal for investors, but its when the Company’s brand, Smack Sportswear, which is worn by the top pros, teams, and fans throughout the volleyball community, gets into the Hollywood scene that SMAK shareholders are going to see that $1 plus level be something within their grasp.
About SMAK Stock
SMACK Sportswear, a developmental stage company, offers everything for indoor and sand volleyball. They are the only team apparel company that truly is a one stop shop, where they not only manufacture their own custom apparel, as well as offer numbering, lettering, embroidery, screen-printing, balls, shoes, and other volleyball gear and equipment. Click here to view the SEC filings for SMAK, here to view their website.
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Bottom Line: IF SMAK stock isn’t alrerady on your list of penny stocks to buy, you better recognize. When the float is as small as that of SMAK, you are either on Smack and shouldn’t be trading penny stocks or someone needs to punch through your screen right now and give you a Smackdown!
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