Nasdaq Penny Stocks To Watch: Infosonics Corp. (IFON)

Heading into the last few trading sessions of 2013, smart money has the Nasdaq listed penny stock of Infosonics Corp. (IFON) on their radar screens. After popping for a whopping 52% last week after entering into a non-exclusive Distribution Agreement with Ingram Micro Mobility to distribute their verykool® phones in the United States, IFON stock settled down to a level which makes it almost worth grabbing. With delisting from the big board a real possibility, seeing a drop under $1 would make bargain shopping a virtual lock for profits.

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IFON Stock Quote

Market Cap: 14.04M
Last: 1.00 ▼ -0.14 (-12.28%)
Volume: 541,700
Open: 1.12
High: 1.12
Low: 0.92
Authorized: 40,000,000
Issued and Outstanding: 14,184,145
14-Day Rel Strength: 64.96%
1st Resistance Point: 1.10
1st Support Level: 0.90
52Wk High: 1.22
52Wk Low: 0.38

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Infosonics Corp. has made its presence known in the extremely competitive wireless business through the verykool® brand, their flagship product. Although the Company’s revenue peaked in 2006 when they recorded approximately $241 million of net sales, 3 years later, in 2009, more than 95% of their net sales of approximately $231 million were derived from distribution sales of Samsung product to carriers in Argentina.

Nowadays, Infosonics is keeping afloat with net revenues for the 3 and 9 months ended September 30, 2013 coming in at $9.867 million and $26.03 million – a far cry from where they were less than a decade ago. The one reason why IFON stock could see some “better than $1” price actin will all be dependent on how well verykool® is received by Ingram Micro Mobility’s vast distribution network.

A secondary reason why IFON stock is worth watching as the year ends is due to their inability to have complied with Nasdaq Listing Qualifications during portions of 2013. As many know, Nasdaq requires, among other things, that a listed company maintain a $1.00 per share minimum bid price (Nasdaq Listing Rule 5550(a)(2)) which, if deemed a failure, cold send IFON onto the OTCBB.

Should this occur, the share structure and cash flow for InfoSonics Corp. is so sound that the slightest bit of attention would be cause for IFON shares to rise well above the $1 level. With that being the case, monitoring their appeal to the Nasdaq and looking for the share price to return to the mid-60’s again could present a profit making opportunity worth being dialed in on.

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About IFON Stock

Infosonics Corp., a provider of wireless handsets and accessories to carriers, distributors and original equipment manufacturers (“OEMs”) in Latin America, Asia Pacific, Europe, Africa and the United States, designs, develops, sources and sells their proprietary line of products under the verykool® brand and on a private label basis to certain customers.

Click here to view the SEC filings for IFON.
Click here to view the website for InfoSonics.

Last 5 Trading Sessions:

Date Open High Low Last Change % Change Volume
12/19/13 0.75 1.22 0.70 1.14 +0.39 +52.00% 957,562
12/18/13 0.82 0.90 0.75 0.75 +0.05 +7.14% 321,900
12/17/13 0.68 0.70 0.67 0.70 unch unch 7,500
12/16/13 0.70 0.70 0.69 0.70 unch unch 8,300
12/13/13 0.67 0.70 0.66 0.70 unch unch 36,200


Bottom Line:

IFON had an amazing run last week and should settle down before dropping back under the $1 level. With Nasdaq rulings on how penny stocks like IFON stock regain compliance a factor to be determined later on this week, looking for a cheap entry point at the very end of the year and early portion of 2014 is where the smarter traders will be dialing in.

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