There is more to Amsterdam than just dope smoking coffee shops and the sexy women of the red-light district. Amsterdam based TomTom N.V (OTCQX: TMOAF) stock is on the move after the provider of navigation technology announced a deal with Apple, Inc. (Nasdaq: AAPL). TMOAF is said to be providing mapping technology to the iPhone and iPad maker. The deal prompted Netherlands based Rabobank to upgrade TMOAF stock from a “hold” to a “buy“.
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TMOAF Stock Stats
Market Cap (intraday): 2.08B
Price/Sales (ttm): 1.21
Price/Book (mrq): 2.13
(Jun 15, 2011): 7.70
(Sep 23, 2011): 3.35
50-Day Moving Avg: 4.36
200-Day Moving Avg: 4.37
Shares Outstanding: 443.80M
Apple has already purchased at least 3 mapping-technology companies, giving rise to investor speculation that it would go its own way with navigation. Last week, Google Inc. (Nasdaq: GOOG) unveiled a 3-D mapping feature for its Google Earth function which is enabled by a group of planes equipped with specialized camera technology.
About TMOAF Stock
TomTom NV provides location and navigation products and services in Europe, North America, and internationally. It offers digital maps, traffic intelligence, navigation software, portable navigation devices, automotive systems, fleet management services, smartphone apps, sports watches, points of interest, location based services, and speedcam intelligence. It provides TomTom HD Traffic, a real-time traffic service, which updates drivers with coverage of traffic jams on main roads and local roads; and Nike+ SportWatch GPS, a GPS sports watch that connects to Nikeplus.com for the after-run experience.
Bottom Line: This is a huge deal for the penny stock but not so much for traders. Volume is thin on the OTCQX listing of TomTom which makes today’s activity a day trade situation and nothing more. If TMOAF was a regular OTC listed penny stock, it would have already traded over $10 million in volume. Atleast it’s good to know that AAPL and GOOG are moving apart from one another in one area.
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