Keep an eye on KONE today. This is a very risky and volatile play
but may manage to see continued movement off of powerful revenue increases.
We are Penny Stock Dream and this is not a penny stock at all but we believe that KONE (Kingtone Wireless info Solution Holding Ltd) is a strong candidate for possible continued movement from where it is right now. The reason for our interest in this larger priced play, comes in their most recent press release from this past Friday. After the release of their news release, the stock managed to close up 148.49% on significantly increased buying pressure, due to the incredible strength found within the release. The news release revealed these key aspects of 2013 for KONE:
“Fiscal Year 2013 Financial Highlights
- Revenues increased by 696.8% to approximately $11.6 million from approximately $1.5 million in the prior year period.
- Gross profit increased by 527.7% to approximately $1 million gross profit from approximately $0.2 million loss in the prior year period.
- Gross margin increased to 8.8% from minus 16.4% in the prior year period.
- Net loss of approximately $5.1 million as compared to net loss of approximately $9.0 million in the prior year period.
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Basic and diluted loss per share were $3.65 as compared to loss per share of $6.40 in the prior year period with weighted average shares outstanding of 1,405,000 in both periods.”
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These are huge numbers for any company trading within KONE's range, so we believe that there may very well be room for greater movement from here. Be sure to keep a close eye on it for the possibility of further positive movement but be sure to operate with extreme caution because this is a very volatile play, considering the significant movement that it has already seen, due to Friday's trading.
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