Singlepoint Inc (SING)

[MikeyInTheD]

The market has little effect on the penny stocks. This is purely a company driven decline in the share price. Management’s failures are again causing pain for shareholders. This is a repeating story with this company and this management team. They are trying to allocate too few assets to far to many ideas. They just don’t have the capital needed to rollout a continued advertising campaign. Everyone was so excited for “the commercial” thinking it would cause the stock to jump past .10. It turned out to be a literally “A commercial” as in one single commercial spot. Before that could even settle in they announced CBD water deal and a sport betting website.

I bought at .03 and sold at .062 when I called the top on this message board. Then I bought again at .031 when it hit my downside target. But almost immediately sold at .033 - the day they announced the sports betting website. The writing was on the wall that they were going into a tailspin with the balance sheet. Now they need to raise capital with a depressed share price. They are going to offer a steep discount to market to get investors to sink cash into SING. There is some value here but I feel like management will blow what’s left on chasing new ventures while letting what is generating revenue die.

Disclosure: I, nor MyInvestingAdvantage, have a current position in SING. There are no plans to establish a position in the future pending further due diligence.