After waddling through 2013 without really handcuffing any traders, the penny stock of COPsync, Inc. (COYN) has, once again, set another new 52 week high today as they look to close green again just one day after reporting year-over-year revenues increased 82% to $1,579,591 for the three month period ended June 30, 2014. Shares of the nation’s largest law enforcement real-time, information sharing, communication and data interoperability network provider began the year trading at just 0.10, dropping to 0.07 at the start of February and have since quadrupled after peaking at 0.46 this morning. With all the tensions that have risen around the Ferguson/St. Louis area from recent events, COYN stock has see its interest rise like its revenues and for all the right reasons.
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COYN Stock Quote
Market Cap: 75.47M
Last: 0.43 ▲ +0.11 (+34.37%)
Dollar Volume: $176,333
14-Day RSI: 88.72%
1st Resistance Point: 0.485
1st Support Level: 0.35
52Wk High: 0.46
52Wk Low: 0.06
When we first uncovered COPsync back in May, 2012, we like what we saw then as COYN stock saw a jump then after the Company’s Q1 results were filed and shares jumped almost 100% over the course of 2 trading sessions. The same event appears to be happening now except revenues are much higher than they were back then and tensions over the Michael Brown shooting death continue to escalate.
The COPsync network is a pretty valuable one in the way that the Company’s mobile application allows for law enforcement officials using it to instantly access local, state, and federal law enforcement databases, efficiently gather information at the point of incident, and immediately share critical data with all officers on the COPsync network. It’s proving to be a necessary service in certain U.S. communities seeing as how revenues for the 6 months ended June 30, 2014 have risen by over $1 million compared to last year after reportedly coming in at $3,067,411 versus $2,020,976 for the same 6 month period last year.
COPsync is still a ways away from net profitability after reporting a $1,352,293 net loss for the 6 months ended June 30, 2014 compared to the $1,711,611 net loss reported for the same period the year prior. However, it appears that diluting the stock by issuing shares to keep the lights flashing is at a minimum after $197,500 was raised by issuing shares of COYN stock during the first 6 months of the year.
With 940 subscribers now on the COPsync network according to CEO Ronald A. Woessner, the 0.38 price target SeeThruEquity issued back in April could soon see a revision issued publicly which would help to keep COYN stock up in the .40 range. The way the session is going, it wouldn’t be a surprise to see COYN test 0.50 before the end of the day.
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About COYN Stock
COPsync, Inc. is a development stage company which sells the COPsync service, a real-time, in-car information sharing, communication and data interoperability network for law enforcement agencies that enables patrol officers to collect, report and share critical data in real-time at the point of incident and obtain instant access to various local, state and federal law enforcement databases.
Click here to view the SEC filings for COYN.
Click here to view the website for COPsync.
Issued and Outstanding: 177,789,501
Last 5 Trading Sessions:
With a run like this on one of the real penny stocks, a correction of sorts is bound to occur, making COYN a great one to watch for a pull back after the .50 test which is sure to come. For those who were long and strong in COYN stock for the duration of the year, the realization of gains has done little to slow down the escalator the ticker has been on since around the time that things began to heat up in Ferguson.
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