One stock that recently caught fire following a series of promising catalysts on the OTC is Surge Holdings Inc (OTCMKTS:SURG). In many respects, this looks and feels like a Nasdaq stock that hasn’t uplisted yet. For example, the company just completed an acquisition that will drive expected 2020 revenues to as much as $68M according to information from the company.
In addition, Surge just announced
that it has been recognized in Deloitte’s 2019 Technology Fast 500™, a ranking
of the 500 fastest growing technology, media, telecommunications, life
sciences, and energy tech companies in North America. In other words, the stock’s
recent breakout to the upside appears to be on strong footing as the company
pushes performance expectations higher.
Surge Holdings Inc.
(OTCMKTS:SURG) is a retail supply chain solution provider that provides a
virtual wholesale marketplace hub for retailers, as well as telecom services
for low income customers and financial payment services for the unbanked and
underbanked.
Surge products are delivered
through a nationwide network of convenience stores and corner markets connected
to the recently launched SurgePays Network.
This retail platform is
designed to transform the traditional supply chain by providing local retailers
seamless access to global products and to empower the corner store to select,
order and fulfill delivery of wholesale goods from around the country.
This platform also provides
manufacturers a cost-effective and efficient platform to access point of sale
retailers nationwide.
The CEO has published his
vision in detail: “My strategy for business building over the last 18 years has
been based on recurring revenue from providing life-enhancing technology
products for the underbanked with a focus on Relationships. During this time
period, the market has grown to over 100 million prepaid wireless users in the
USA with approximately 35% of the country now falling into the underbanked
category. This is the last digital frontier and Surge is positioned for the
land grab.”
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As noted above, SURG just announced that it has been recognized in Deloitte’s 2019 Technology Fast 500, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences, and energy tech companies in North America.
Traders will note 15% tacked
on to share pricing for the stock in the past month. Moreover, the company has
registered increased average transaction volume recently, with the past month
seeing just under 120% beyond its prior sustained average level.
Anthony Nuzzo, President of
Surge, stated, “We are honored to receive this recognition from Deloitte as one
of the 500 fastest-growing companies in North America for 2019. In just a few
short years, we grew from a monthly revenue run rate of approximately $125,000
to over $5 million per month. We achieved these results while 2019 was
primarily focused on product development and building our infrastructure to
support our anticipated continued growth going forward. In particular, this award highlights our tremendous
progress in the rollout of the SurgePays Marketplace, a product sales channel
that disrupts the traditional c-store supply chain model by providing local
retailers direct access to regional manufacturers from around the country. Overall,
we believe we have built a solid foundation for rapid and scalable revenue
growth in 2020 and beyond.”
Now commanding a market cap of $35M, SURG has a reserve ($144K) of cash on the books. SURG is pulling in trailing 12-month revenues of $16M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 21%, with as much as 4,600% growth over the past two years when compared to forward sales following its recent acquisition of ECS. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $SURG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $SURG, either long or
short, and we have not been compensated for this article.
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