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SPGC primed for more upside
From a technical standpoint, the big spikes in volume accompanied by two nice peaks. Price seems to be stabilizing with nice support at the 0.60-0.70$ range. A third big peak is really not out of the question given the following fundamentals:
The APR for borrowing these shares is north of 500% with some sites still citing a short float % of 100%+. Not to mention that the insiders have high conviction (high insider ownership/buying and potential for 1mil$ share buyback) and its on a fast track to potential profitability which is very uncommon for penny stocks like this.
The holy trinity presents itself once again:
1- Low float
2- Very high short ratio
3- very high cost to short
I think 1.50-2$ is fairly reasonable if this starts running again.
The APR for borrowing these shares is north of 500% with some sites still citing a short float % of 100%+. Not to mention that the insiders have high conviction (high insider ownership/buying and potential for 1mil$ share buyback) and its on a fast track to potential profitability which is very uncommon for penny stocks like this.
The holy trinity presents itself once again:
1- Low float
2- Very high short ratio
3- very high cost to short
I think 1.50-2$ is fairly reasonable if this starts running again.
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