Net Element, Inc. (NETE) Stock Price Surge Covered in USA ToNet Element, Inc. (NETE) Stock Price Surge Covered in USA Today Interview with SeeThruEquity
In a news release this morning, SeeThruEquity announced its recent interview with USA Today on the recent surge in stock price of Net Element in connection with Apple, Inc.’s announcement on Apple Pay. Apple Pay is Apple’s developed version of a mobile wallet for the tech giant’s iPhone 6, iPhone 6 Plus, and Apple Watch devices.
Net Element’s stock more than doubled a day after Apple Pay was unveiled.
“We are pleased that NETE continues to receive a growing level of media attention concerning its mobile payments platform with this most recent coverage by USA Today. We are confident that NETE’s new business opportunities, solid financial planning and continued execution by management will result in continued robust performance in the share price of NETE,” commented Ajay Tandon, CEO of SeeThruEquity.
SeeThruEquity is a leading independent equity research and corporate access firm focused on companies with less than $1 billion in capitalization. The full USA Today article can be accessed at: https://americasmarkets.usatoday.com/2014/09/12/net-element-nets-huge-gains-on-apple-pay/.
Excerpts and highlights from the article are as follows:
“Micro cap stock Net Element NETE flexed some major muscle earlier this summer on Wall Street, when shares rocketed following a buy recommendation by … research firm SeeThruEquity which launched coverage with a $3.47 price target when shares were trading at 88 cents. After a 120% jump Wednesday, Net Element soared another 79% to $5.70 in heaving trading Friday, meeting SeeThru’s price target, and then some.
Behind the surge: expectations that the mobile payment and processor will get a lift from Apple Pay, the just-announced mobile payment plan system just announced by Apple.
Miami-based Net Element’s holdings include mobile payment and transaction processor Unified Payments and cloud-based point-of-sale payment platform Aptito. Its current clients include American Express, Visa and Mastercard.
As of Friday, SeeThru hadn’t raised its price target. But Brandon Primack, SeeThru’s senior research analyst, says new management, financial maneuvers and new business potential has bolstered Net Element’s outlook and makes the company’ a compelling stock.
‘… (the company’s) story has changed dramatically in the past 12 months,’ Primack tells USA Today. ‘They do not have a specific relationship with Apple, but they’re positioned to benefit from more business. It’s not going to happen in the next quarter, but there is a huge market already overseas where digital currency has already replaced traditional banking. This is more the expansion of the conscience over mobile payments.’ …”
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