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:
http://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.’ …”
For more information, visit:
www.netelement.com
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