After spinning off from the formerly named MediSwipe, Inc. (MWIP) and IPOing at the start of August, the penny stock of 800 Commerce, Inc. (ETHG) has shown enough reason as to why long traders may want to look into it in a bit more depth. Shares of ETHG began trading on August 1 and saw the typical kind of volatility one would expect from a spinoff, trading up as high as 0.75 two days after the IPO and as low as 0.10 just a week ago. With as much money as the credit card processing services provider is already booking and the lack of any real debt on their books, the pull back today after two sessions of bullishness could be the open door needed to see a long road back towards that 0.75 range.
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ETHG Stock Quote
Market Cap: 3.59M
Last: 0.18 ▼ -0.05 (-21.74%)
Volume: 61,793
Dollar Volume: $11,232
Open: 0.15
High: 0.20
Low: 0.15
Trades: 16
14-Day RSI: 36.66%
1st Resistance Point: 0.2033
1st Support Level: 0.1533
52Wk High: 1.00
52Wk Low: 0.10
To backtrack a bit, 800 Commerce is the baby of MediSwipe, now known as Agritek Holdings, Inc. (AGTK) whereas the CEO and CFO, Barry M. Friedman and Barry Hollander, spun off their revenue producing credit card services segment so that they Agritek could focus on their new division, “The American Hemp Trading Company”, and its exclusive license to sell the popular hemp based energy drink “CHILLO” and hemp ice tea C+SWISS to all medical dispensaries and select locations in 19 states and the District of Columbia. In addition, Agritek also sells a product they call the MONT BLUNT, a King Size Premium Disposable E-Cigarette with a wide array of flavors to choose from.
The connection to AGTK, in and of itself, is a reason to look closer into ETHG as their distribution and sales begin to increase as states continue to allow for the sale of hemp-based products, purchasing abilities for dispensaries will be a target where 800 commerce can grow further into. The Company already is showing steady revenues after reporting $100,022 and $190,470 for the 3 and 6 months ended June 30, 2014 versus $93,419 and $187,231 for the same respective periods in 2013.
Two other significant catalysts for long traders to look closer at ETHG stock are 1) the debt currently on the books of 800 Commerce, and 2) the current public float of ETHG. For the period ended June 30, 2014, the Company reported $0 convertible promissory note compared to the $7,000 on the books at the start of the year and very manageable accounts payable and loans to stockholders of just $116,569 and $244,556, respectively. As for the float, well of the 19,950,000 shares issued and outstanding, Friedman reportedly owns 5,237,172 and Hollander owns 1,054,623. Another 2,300,000 is owned by recently departed CEO, Scott A Climes, 1,500,000 by Daniel Najor, 1,913,382 by James M Canton, which include warrants to purchase shares of ETHG stock @ $0.30 per share.
With the public float at under 10,000,000, revenues consistently being booked, an a current share price trading at a 40% discount to the warrants price, looking for ETHG stock to be an easy way to book 50% or better over the course fo the next few months is about as easy as swiping your credit card at a 7-11.
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About ETHG Stock
800 Commerce, Inc. is a development stage company founded for the purpose of marketing credit card processing services on behalf of merchant payment processing service providers. The Company commenced revenue producing activities based on the marketing of credit processing services in March 2010.
Click here to view the SEC filings for ETHG.
Click here to view the website for 800 Commerce.
Authorized: 90,000,000
Issued and Outstanding: 19,950,000
Last 5 Trading Sessions:
| Date | Open | High | Low | Last | Change | % Chg | Volume |
| 08/25/14 | 0.1700 | 0.2430 | 0.1410 | 0.2300 | +0.0600 | +35.29% | 65,100 |
| 08/22/14 | 0.1100 | 0.1800 | 0.1100 | 0.1700 | +0.0570 | +50.44% | 75,000 |
| 08/21/14 | 0.1120 | 0.1300 | 0.1120 | 0.1130 | -0.0170 | -13.08% | 46,700 |
| 08/20/14 | 0.1000 | 0.1500 | 0.1000 | 0.1300 | -0.0500 | -27.78% | 39,800 |
| 08/19/14 | 0.1000 | 0.1975 | 0.1000 | 0.1800 | +0.0401 | +28.66% | 130,600 |
Bottom Line:
Penny stocks like ETHG that trade well below their warrant price are simply some of the best ones to go long on and wait patiently to book the gains that are virtually guaranteed. With the summertime trading having allowed for most to have missed the chance to see ETHG stock get listed, dip to 0.10 and settle itself around the 0.20 rage, jumping on the opportunity that is presently available is a no-brainer of a winning trade.
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