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SPNG - Spongetech Delivery Systems, Inc
Spongetech Delivery Systems, Inc. engages in the design, production, marketing, and distribution of hydrophilic polyurethane sponge cleaning and waxing products primarily for vehicular use in the United States. The company utilizes patented technology relating to sponges containing hydrophilic, which are liquid absorbing, foam polyurethane matrices. Its product portfolio comprises specially configured sponges containing an outer contact layer and an inner matrix; children's bath foam sponge with a safe mesh coating, which prevents tearing; and household cleaning sponges infused with anti-bacterial bath and kitchen soaps. The company was founded in 1999 and is based in New York, New York. (From yahoofinance.com)
Take a look at this stock everybody. Looks like a decent trade. We seemed to have put in a low yesterday on super high volume. Today I was watching it and near the end of the session there was just massive buying pressure going on non-stop! It was relentless! Somebody shorted quite a bit at .027 earlier but had to puke them back as the price wasn’t breaking down and the bids kept firm.
Fundamentally it doesn’t look bad. No debt, a business model I can actually understand, increasing revenue growth, etc.
I could see SPNG going back up to around .05 within a week or two.
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