San Diego, CA 6/4/2009 10:31:03 PM
Small Cap Network Issues Trading Analysis of SPNG
SpongeTech Delivery Systems, Inc. is at new 52-week highs. What does this mean for traders?
The Small Cap Network (smallcapnetwork.com), a leading online investment community focused on small cap stocks, has issued a trading analysis of SpongeTech Delivery Systems, Inc. (SPNG.OB).
Investors can receive complete access to all trading commentary and market trend analysis free by going to: www.smallcapnetwork.com/t/.
Over the last 18 months, SPNG shares have found a ceiling between 5.0 cents and 5.5 cents. Today's rally up to 6.5 cents not only represents a new 52-week high, but could also mean the penny stock starts to trade differently than it has been.
Investors and traders are invited to subscribe to the free Small Cap Network Newsletter, which offers other trading ideas and insights at:www.smallcapnetwork.com/t/
About SmallCapNetwork
SmallCapNetwork.com's commentary and trading ideas are based on a combination of fundamental analysis, company news and events, and technical analysis. This combination of several kinds of criteria allows the site's analysts to find the very best trading ideas, which is why the site is quickly becoming the premier web destination for those seeking superior returns.
The Small Cap Network is one of the web's leading small cap stock trading communities. Though large caps tend to receive the majority of media attention, small and micro cap stocks as well as penny stocks can often offer the most potential for investment gains. The Small Cap Network web site and free newsletter offer in-depth fundamental research and technical trading recommendations on select companies within the global equity markets, including small caps stocks, micro cap stocks, bulletin board stocks, and actively traded penny stocks.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
SmallCapNetwork.com is not a registered investment advisers or broker/dealer. SmallCapNetwork.com makes no recommendation that the purchase of securities of companies profiled in this website is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for many of their securities, investing in such securities is highly speculative and carries a high degree of risk. TGR Group, LLC was paid a fee of $30,000 cash and 750,000 shares of newly issued restricted stock by Spongetech Delivery Systems Inc. for coverage of the Company between November 29, 2007 - November 29, 2008. Additionally, one of the managing Members of TGR Group, LLC has purchased 150,000 shares of Spongetech Delivery Systems, Inc. in the open market with an average cost basis of $.035 cents per share.
Contact Information:
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Source: Small Cap Network
http://www.smallcapnetwork.com/scb/spongetech-delivery-systems-spng-breaks-out-hits-new-52-week-high/2922/
