OTC Worth Mentioning Today: What Next for SINGING MACHINE COMPAN (SMDM) Stock

November 25, 2016 - By Ruchi Gupta

OTC Worth Mentioning Today: What Next for SINGING MACHINE COMPAN (SMDM) Stock

Interested investors have been looking for information on shares of SINGING MACHINE COMPAN (OTCMKTS:SMDM) after the stock moved $0.01, hitting the $0.57 price point in a recent trade.

It’s the latest price, but let’s analyze how the stock has been doing recently. In the past year, SINGING MACHINE COMPAN’s stock was 1.00%. According to the short interest report published recently, (SMDM) had 400 shorted shares for 0 days to cover. The prior short interest was 1,900 for a $-78.95 change. The 52-Week High and Low are noted here. -3.39% (High), 235.29%, (Low). The stock had 23,200 average volume.

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Penny stocks are often stated as risky investments that hardly pay off. Admittedly, there is fact to this, but with the right knowledge and tactics, it is possible to earn a significant amount of gain in penny stocks. Simply said, a penny stock is an equity that trades at a low price.

Irrespective of the name, penny stocks usually are priced over a penny, occupying a price range at or close to $1, though some are priced a fraction of a penny. Often referred to as micro-cap equities, the Securities & Exchange Commission classifies these types of securities as being $5 or less. Over-the-counter stocks are NOT listed on any of the formal exchanges.

So, penny stocks frequently fit in this segment, though many dodge this category. Over-the-counter (OTC) equities are stated to be risky as they aren’t contingent to the listing and reporting requirements of the reputed commodity exchanges.

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Penny shares can be listed on NASDAQ or other known stock exchanges, although many more cannot be found there. A major percentage of penny stocks are listed on the so-named ‘pink sheets’, i.e., daily news of OTC shares. They can even be seen on the ‘Over-the-Counter Bulletin Board.’ Commodities listed on the OTCBB fail to fulfill the listing guidelines of the NYSE or other known exchanges, although they are mandated to file financial statements with known regulators, such as the SEC. Penny shares are inexpensive, thus attractive to shareholders who lack the funds to buy comparatively expensive blue-chip stocks from large firms.

Penny stocks boast immense profit potential. Because these stocks trade cheap, even a slight jump in price turns to be profitable. Look out, however, because frequently shareholders may have trouble getting a decent amount of details about penny stocks. These kinds of shares tend to be latest in news, with almost no track record for investors research.

In addition, penny stocks show lack of market activity, with poor liquidity, making them difficult to sell. Poor liquidity results in penny stocks to be open to price influence.

A shady trader can simply buy large sums of shares, temporarily leading up the price, crafting artificial demand.

Disclaimer: Nothing mentioned in this publication is planned to constitute legal, securities, tax, or investment advice, nor a viewpoint regarding the relevance of any investment, nor any type of solicitation. The general information mentioned in this article should not be acted upon without getting specific tax, legal and investment advice from a certified professional.

More notable recent Singing Machine Company Inc (OTCMKTS:SMDM) news were published by: Finance.Yahoo.com which released: “Stingray and Singing Machine Optimize Karaoke Store for Mobile Devices in time …” on November 21, 2016, also Globenewswire.com with their article: “Singing Machine(R) Announces All New Digital Line of Karaoke Products for Fall …” published on July 16, 2015, Prnewswire.com published: “Singing Machine® Announces Homeâ„¢ 2.0, the Next Generation Bluetooth Speaker …” on December 02, 2014. More interesting news about Singing Machine Company Inc (OTCMKTS:SMDM) were released by: Marketwired.com and their article: “Singing Machine To Announce 2nd Quarter Earnings Conference Call” published on November 09, 2016 as well as Marketwired.com‘s news article titled: “Singing Machine Announces Launch of SMC Kids Toy Line at the Dallas Toy Preview” with publication date: September 21, 2016.

The Singing Machine Company, Inc. is engaged in the development, production, marketing and distribution of consumer karaoke audio equipment, accessories, music and audio consumer electronic products. The company has a market cap of $22.96 million. The Firm contracts for the manufacturing of all its electronic equipment products with factories located in China. It has a 8.61 P/E ratio. It has also collaborated with a music content service well-known provider that allows the Company to offer karaoke downloads and streaming subscription services.

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