Home Stock Market Commentary Undervalued Penny Stock Beyond Commerce (OTCMKTS: BYOC) Soars In Early Trading Today...

Undervalued Penny Stock Beyond Commerce (OTCMKTS: BYOC) Soars In Early Trading Today – Mike Swanson (07/13/2020)

Today the DOW and Nasdaq gapped up in morning trading ahead of the start of second quarter earnings season. Netflix (NASDAQ: NFLX) shares are up almost 3.5% this morning to get the attention of traders as people are buying it ahead of its earnings release scheduled for Thursday, but even bigger price action is moving shares of Beyond Commerce (OTCMKTS: BYOC), which are up 70% so far today. Take a look at the chart.

This stock is also up over 300% so far this month. Rising markets simply cause traders to look for bargains and this stock came on the radar of some after it reported earnings in May. It revealed in that earnings press release that in the first quarter it cut its net loss to $400,000 and had assets of $8.7 million. Meanwhile the company as of today has a market cap of $5.2 million giving it a nice price discount to its net asset value.

Those types of figures are fueling some buying interest into the stock. So is news last week that Mr. Henley Gurley joined its board of directors. Geordan Pursglove, Beyond Commerce’s Chief Executive Officer, commented on this news, “We are extremely pleased to welcome Henry to our Board of Directors. The Board believes that Mr. Gurley’s extensive experience in the capital markets and finance industry makes him well-qualified to help lead the Company towards pursing its strategies for growth.”

On Twitter traders are all excited over the stock.

I do not have a position in this stock and am not going to buy it, although it is fun to see people excited about it. I’m personally more excited about my own top stock pick for this summer that I do own. To find out about it go here.