CloudCommerce Stock Continues to Move Higher: What to do Now?
One of the stocks that have come into sharp focus in recent days is that Cloudcommerce Inc (OTCMKTS:CLWD). There has been a huge surge in trading volumes in the stock recently and that has consequently resulted in a rally in the CloudCommerce stock as well. In recent days, the stock has chartered a remarkable path and gone from double zeros to as much as $.0163. After that, the CloudCommerce stock suffered a dip.
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Major Factors
However, things changed dramatically on Wednesday and the stock managed to generate gains of as much as 20% during the trading day. In light of this situation, it is expected to be worthwhile for investors to take a closer look at the company and its operations.
The company is engaged in the digital advertising space and has managed to create its proprietary solution named SWARM, which analyzes audience data to help businesses with their campaigns. In Deloitte’s 2019 Technology Fast 500, CloudCommerce was named as the 235th fastest growing company in the North American region.
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Hence, it is quite clear that the company is going places and the recent buzz around the stock has not come as a complete surprise. The company has also managed to boost its sales significantly in the first fiscal quarter of the year.
In the three months that ended on March 31 this year, CloudCommerce managed to generate sales of as much as $3.2 million. However, that is not all. The company recently published a press release in which it specified that it expects the full-year revenues for 2020 to be in excess of $14 million. The secret sauce behind the company’s success is SWARM, the SaaS (software as a service) solution meant for advertising.
The company also announced in the aforementioned press release that none of the revenues it is going to generate is going to come from political organizations. CloudCommerce went on to add that the higher revenues that are being generated will only help in unlocking more value for its shareholders. Due to higher revenues, the company will not have to dilute its stock further in order to take care of its expenses.
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The recent announcements from the company are a clear indication of the fact that it is moving in the right direction. Moreover, it should be noted that ad spending has gone down considerably due to the coronavirus pandemic but even then CloudCommerce has managed to grow its business. Hence, it could be argued that there is a certain degree of upside for the business when things go back to normal. However, at this point in time, it seems that the stock is on a strong run and it would not be remiss if investors choose to keep a close eye on it.
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