(NEW YORK—SinglePoint (OTCQB:SING) saw its stock surge in late day trading on kick-off of their TV ad campaign for their new digital wallet called SingleCoin.
SING stock surged late in the day after their first TV commercial for their SingleCoin digital wallet aired on Fox Business just before 3pm EST. Afterwards, SING stock saw a strong rally on volume to a late day high of $0.039 before closing up 30% to $0.038 on just over 12 million shares traded.
The digital wallet’s goal is to provide an easy way for users to make purchases using SingleCoin. The app was developed with a view to allows dispensaries to easily accept and convert the BTC to fiat currency and for customers to make purchases that are transacted at the same speeds as traditional payment cards. The wallet application SingleCoin is also a step in helping retailers easily transact purchases with cryptocurrencies by use of their wallet.
The most important aspect to take in is that this was just their first of what is expected to be many more TV commercials in the very near future. It could be easy to say that SingleCoin is about to get on many new investor radars, and this story may only just be beginning.
SingleCoin is a joint venture between SinglePoint, but also their mobile developer AppSwarm (OTC:SWRM), who are co-developers on the project, and hold a 50/50 stake in the deal.
Ludlow Research, a smallcap equity research firm based in new York City, made note that while SING surges to new highs, investors may want to also give SWRM a look over as a more value way to play this SingleCoin story.
When you do a comparison of both companies you can see SWRM offers real upside value potential based on their partnership on SingleCoin.
Shares Outstanding (according to OTC Markets)
SING: 1.1 billion
SWRM: 150 million
SING: $38 million
SWRM: $3 million
Based on their partnership on this project it would seem SWRM offers the most likely upside on a simple valuation analysis.
Does this mean SING doesn’t have further upside from its current price? No, absolutely not! With both these companies about to recognize revenues from this digital wallet, and SING having a more mature project portfolio and retail interest, it wouldn’t be out of realm of possibility to see SING make run for the $0.07 to $0.10 range in the very near future.
AppSwarm and SinglePoint also recently collaborated on LastMile Delivery, a solution for small businesses and cannabis delivery companies to efficiently manage deliveries. Could we see this new SingleCoin feature integrated into their LastMile delivery platform? Maybe.
But one thing is for sure, with only one TV commercial out, and many more expected in the near future, SING is about to become one of the top topics among traders in the coming weeks.
Register for Future Updates
To receive more updates on this story, and on going coverage, please register to our investor mailing list at
About SinglePoint, Inc.
SinglePoint, Inc (SING) is a technology company with a focus on acquiring and or working with companies that will benefit from the injection of growth capital and technology integration. The company portfolio includes mobile payments, ancillary cannabis services and blockchain solutions. Through acquisitions into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued companies, thereby providing a rich, diversified holding base. Through SingleSeed, the company is providing products and services to the cannabis industry.