Supply@Me share price has been in a consolidation phase in the past few days. The penny stock was trading at $0.07, where it has been recently. It has plunged by more than 58% from its highest level in June. It has fallen by over 50% this year, giving it a market cap of more than 43.8 million pounds.
Supply@Me is a relatively new technology company that provides end-to-end inventory monetization products. The firm provides TradeFlow services and local Supply@Me subsidiaries. Each inventory monetization transaction can involve multiple types of investors depending on the risk appetite.
The most recent results showed that the company’s total revenue rose to £0.5 million while its loss before tax rose to £12.2 million. Its total assets at the time was £10.6 million while the net growth in capital under management in the quarter rose to about 17%.
Its inventory monetization was £0.3 million while its inventory advisory’s revenue rose to £0.2 million. The company has not published its financial results this year.
So, is Supply@Me a good investment? In my view, I believe that there are more better opportunities in the UK. For one, I find the company is a relatively complicated one for most people. It is also not followed by City analysts, meaning that there is limited information about the company.
The daily chart shows that the SYME stock price has been in a tight range in the past few months. It has remained in a consolidation phase and has remained below the key resistance level at 0.0950p, which was the highest point in October. The stock moved below the 50-day moving average.
At the same time, the Awesome Oscillator has moved to the neutral level. Volume has also continued consolidating. Therefore, the stock will likely have a bearish breakout in the coming days. If this happens, the next key support level to watch will be at 0.060p, which is about 26% below the current level. A move above the resistance at 0.09 will invalidate the bearish view.
This post was last modified on Nov 17, 2022, 08:19 GMT 08:19