Coming off a big quarter where revenues more than doubled to the same period last year, the penny stock of usell.com, Inc. (USEL) is having very busy trading session. Having traded over 50,000 shares only 4 times this year, USEL stock, another one of those Dr. Frost investments, saw some aggressive activity early on today making a number of traders’ alarms go off to see what was the cause. Seeing as how a recent Forbes article titled “Sell Your Smart Phone Quickly And Easily: An Alternative To eBay” has had more than 4,000 views in under a week, the 2nd hand market looks to have been recaptured by the online site.
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USEL Stock Quote
Market Cap: 13.62M
Last: 0.19 ▲ +0.05 (+35.71%)
Dollar Volume: $65,788
Issued and Outstanding: 75,870,870
14-Day Rel Strength: 53.41%
1st Resistance Point: 0.23
1st Support Level: 0.15
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We all have smartphones which we have sitting in a drawer somewhere, too ashamed to give them to someone as a gift and not motivated enough to go through the hassle of trying to sell it. Well, uSell has targeted that market and taken it to a level which even the laziest of smartphone collectors can easily turn his or her old iPhone, Android or Windows phone into some quick cash with a few clicks of the mouse.
Reported back in August, uSell just came off a huge Q2 with revenues reaching $1,224,340 and $2,270,738 for the 3 and 6 months ended June 30, 2013 versus $591,432 and $836,039 for the same periods in 2012. What the increase represents really is that the Company is nearly on pace to match their 2011 annual revenues of $5,876,660.
Making the attraction to USEL that much more enticing, Barry Honig and Frost Gamma Investments Trust, aka Dr. Philip Frost, owned 7,425,654 and 6,429,028 shares of USEL stock as of March 29, 2013. Long investors have a knack for following the duo since the smart money rarely tends to go into a poor investment.
Add in the fact that directors and executive officers as a group owned 42,905,089 shares as of the 10-K filing, another 10,591,802 and 10,629,909 shares held by two other 10% or better shareholders, and what you have with USEL is a float of -2,110,612. Now there can’t be a negative float because those numbers factor in vested options and exercisable warrants, but basically, there isn’t much USEL to go around making it a prime candidate for a shining session.
The problem is USEL stock is like a perfect partner when it comes to playing beer pong. They might be here today, and maybe even tomorrow, but you can count on a couple days every few weeks where they just don’t show up. Due to the sporadic trading activity, longs are best set for taking a position until some more of 300,000 share days become more repetitive.
About USEL Stock
usell.com, Inc. is a development stage, technology based company focused on creating an online marketplace where consumers interested in selling small consumer electronics that they are no longer using.
Click here to view the SEC filings for USEL.
Click here to view the website for uSell.com.
Last 5 Trading Sessions:
USEL has carved out a unique niche in the online selling market and has surely has a plethora of supply which can be uploaded and converted into cash for years to come. What is most intriguing about this penny stock is that USEL did a 1-for-52.4846 split last summer and traded as high as $2.73 back in the beginning of 2011, $1.47 in the beginning of 2012. With revenue levels returning to 2011 levels, it’s plausible that a much better price per share should come.
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