It’s not often that you find a stock trading at $0.0006 which could actually be long term investing material, but some traders and investors alike feel they may have found that diamond in the rough. While micro penny stocks are often reserved for scammers, frauds and companies which are just looking to take advantage of some easy capital, Italk Inc (OTCMKTS:TALK) may be one which strays from the norm.
According to the company’s CEO they have just merged with a Wireless Equipment Distributor & Technology Services Provider called United Mobile Solutions Corp. UMS currently has an annual revenue of $16 million and best of all, they are growing. On the other hand, at the current share price of $0.0006, Italk Inc’s (OTCMKTS:TALK) current market cap is just $723,200.
While this all seems swell and dandy, we do urge investors to tread with caution as this is a microcap stock which was once trading north of $1 before the company began to dilute shareholders. The stock increased 50.00% or $0.0002 on December 18, hitting $0.0006. About 81.18 million shares traded hands or up 348.51% from the average. TALK has risen 215.79% since May 20, 2015 and is currently uptrending. It has outperformed the S&P500 by 218.05%.
iTalk, Inc. designs and develops retail voice and data communications services and integrates these services with wireless hardware devices to create communication solutions. The company has a market cap of $1.08 million. The Company’s product, iTalk sleeve, is combined with an iPod Touch, its iTalk application, to provide clients with cellular coverage. It currently has negative earnings. The Company’s other products include iData Personal HotSpot, iData Service Dell Inspiron Mini and iData Tablet Samsung Galaxy Tablet.