Changing your ticker symbol to more appropriately fit your company name is usually a sign of good thing to come. In the case of Sanwire Corporation (SNWR) who just switched yesterday from their NTMG symbol, traders are hoping the penny stock stays good and can continue it’s sensational June run. Focused on providing wireless solutions with a particular focus on rural communities and Native American tribes, how many more points are there to scalp on SNWR stock before the share price experiences a problem connecting to the network.
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SNWR Stock Quote
Market Cap: 19.07M
Tuesday Close: 0.46
Issued and Outstanding: 41,332,147
14-Day Rel Strength: 68.90%
14-Day Stochastic: 100.00%
BarChart Opinion: 96% Strong Buy
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One week ago tomorrow, Sanwire Corp. announced that its wholly owned subsidiary, Aero Networks, had signed an exclusive agreement with the Oso Vista Ranch Project of the Ramah Navajo Nation to manage their broadband Community Connect grant application with the United States Department of Agriculture, Rural Utilities Services (USDA-RUS). Now, everyone knows that tapping into the U.S. government’s piggy bank usually means that the money faucet has been turned on, and boy does Sanwire Corp. need it.
As of their last Q filing for the 3 months ended March 31, 2013, Sanwire had just $344 in the bank and no source of revenues since they were still transitioning from their previous operations: NT Mining Corp. Tapping into a deal on January 2, 2013 whereby the Company signed an exclusive licensing and distribution agreement to sell and market the iPMine communication and mine-safety system for underground mines for the European continent, sending in a couple of birds with messages could become a thing of the past for European coal miners.
What’s interesting to see when looking into SNWR stock is that volume has yet to break past 300,000 on any particular trading session so far this month. At the same time, SNWR, formerly NTMG until yesterday, has risen during that span from a low of 0.25 to the 0.46 it closed at yesterday: an 84% gain.
Many traders found out that hard mailers have been circulating around recently about how Sanwire is the next great thing since coal was discovered. The mailer must have been set to be deployed long before now since the ticker symbol it touts is the old one and not SNWR.
Regardless, news announcements like last week’s which highlights how Sanwire could one day see a portion of the $1,200,000 deal, subject to USDA-RUS normal approval process, regardless of it being expected to be finalized in Q4, 2013, could be the type of juice SNWR needs to keep chugging along away from being an Indian Head and moving towards being that Silver Dollar.
About SNWR Stock
Sanwire Corporation is a development stage company focused on becoming a global provider of wireless communications services, data solutions, and application software/hardware.
Click here to view the SEC filings for SNWR.
Click here to view the website for Sanwire.
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Naiel Kanno struck it rich when he got 20,000,000 shares of SNWR stock to settle $20,000 of debt when he agreed to sell iPTerra Technologies, Inc. to Sanwire in March. Be that as it may, the chart for SNWR stock looks amazing for this month and, with the recent ticker symbol change and awareness flowing, could make for a great addition to the list of penny stocks to track heading into July.
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