Spongetech Still Standing! (SPNG) bent but not broken!
71They weathered the first storm and they are still standing!
I put Spongetech back on buy notice. I feel this stock is poised to make some money for some brave souls. It has been under heavy fire .. class action law suits, SEC investigations and claims of fraud. This story sounds familiar to me. Last time a company went thru this, I made a lot of money on the stock. The stock was Birmingham based HealthSouth.
The two scenarios are very similar. Both had huge growth and great press. Both received SEC sanctions. Both were sued in a class action suit. HealthSouth's ceo went to prison.So far ,no word on Spongetechs.The price went down to the 2 cent range on both. Then, I bought.
The reason I still like Spongetech, is the same reason I loaded up on HealthSouth in the low penny range. The fundamental company is great. The leadership may be poor, butas was with HealthSouth, the marketing and product are strong.
Sponge Bob children's sponge, made by Spongetech, is the leading childern's seller on Amazon.com.
There car was sponges are selling briskly. They have signed marketing agreements with 3 major sports teams in the last month.
We may see a buy out, new management or a merger..but I believe they will not only survive, but prosper. Some brave souls willing to take a chance may be soaking in money, like a sponge!.
As always do your own due diligence..Happy Trading!
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Thanks for the comment! You are right! They are very progressive. I did tone down my enthusiasm a tad, because I would hate to see someone lose their life savings because of Moi! Thanks Dragon
I agree on practically all things you have stated inthat article but, the reference at the bottom of the article ....
Zeng, don't you think that might hurt your credibility?
No pun intended though.
Ludo
lol you may be right! thanks ludo!
lol you may be right! thanks ludo!
I can't see why a company under investigation would be still out there getting more sponsors. If my company was under investigation I would be hiding.
yeah..i agree..so it tells me something is up.. nba and nhl linking with them? hmm even if current management goes, a strong product and marketing team survives
I am confident that you are as smart as I think you are and have a pretty sizable position here, figuring on whats ahead! Bottom line!!!
Thanks , SJ sometimes it seems sad that mms and daytraders..play these things, and when they shoot up, they have scared the common man into selling! You are right..you must buy potential! Thanks
Dragon says:
3 months ago
I'd have to disagree with you about the term "speculation" as far as SPNG goes. This company is much more solid than most stocks in NASDAQ, NYE, and American exchanges. Management is very smart and aggressive. I'd liken them to grandmasters of chess who continually surprise us with their moves. There will be many investors finding themselves in life-changing situations, wondering what to do with their profits. Newly-made millionaires will be common. I'd suggest you are a wee bit conservative, but I don't blame you for your caution. Keep in mind the 10K is coming up shortly. This will do a lot to increase investment. Not long after will be the 10Q. There'll most likely be stock dividends and more buybacks. Initial listing in NASDAQ will soon follow. Institutionals and mutual funds will push PPS up even more. All of the lines created by Dicon will be marketed by the wizards at SPNG. This company is a jewel among jewels, and will win the day.