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Friday, October 26, 2007

Penny Stock Pick - VG

This was not supposed to be a penny stock when it first came out in May of 2006. Vonage's leading voice over ip service was suppose to take over the telecom industry and make it another giant bell. However losing major patent lawsuits to telecom giants, the company looked like heading into extinction in September as the stock was at new low of 89 cents per share. All the sudden when the investors are losing hope, settlement on patent lawsuits brought the stock back alive again recently and is now trading above $2 per share.

Technical
The technical chart shows weak sign as the stock is still trading below 50 day and 200 day moving average with both moving average still falling. Another weak sign is MACD which is still below 0. On the other hand, ROC shows the stock is oversold and with volumn spiked as K line crossed on top of D line this is probalby the time that the stock would finally reverse the downtrend.


Insider
The institutions are still bearish on the stock and sold additional 1.8 million shares in the latest quarter.

Financial
The quarterly revenue has been on the rise with consecutive gain from $160 million in September of 2006 to June of 2007. However since net loss is still rising the company is still selling stock to maintain healthy cash level.


With the positive news of lawsuit settlement along we should see explosive growth in stock.

Penny Stock Score (1~5) 5 is highest
1. News: 5
2. Industry (VOIP): 5
3. Technical: 3
4. Insider: 1
5. Financial: 3
Recommendation: Buy

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