Wrapmail Inc (OTCMKTS:WRAP) is making headways to turnaround its operations and its stock price is beginning to stage a turnaround. The share price advanced over 18% on close to 1 million shares trading hands on Friday with the stock price closing at $0.13.
WRAP has been in a decline for over the last 8 months and it is not a surprise to see why. Interesting enough, the company relied on promotions through newsletters and pumpers to move the stock price up. The likely reason for this was one of two reasons or quite possibly both. The first being that WRAP needed to raise capital but was unable to due to the lack of liquidity in its stock. A promotion would boost liquidity and WRAP would be able to more easily issue shares. The second reason is quite possibly the fact that WRAP executives wanted to make a quick buck on their options or restricted stock units.
Any advance without new developments, product releases, or interviews from the executive management team should be taken with a grain of salt given how the stock has performed in the past and due to its prior stock promotions.
Interesting enough, WRAP retained Lemonlight Media, a media production group, to help launch its WRAP 2.0 email service. The expected launch is any day now and the company has invested in marketing initiatives for the commercial launch of its product. According to WRAP’s CEO, “Mr. “We are excited for our product launch of the new and improved WRAPmail 2.0 which is scheduled for the first quarter 2016. This fully commercialized version has incredible user interface, ease of application, functionality, and scalability. With our series of National commercials we look forward to the future with great anticipation.”
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WRAP is currently trading at a $31.52 million market valuation. It is expected that the company should be preparing its commercial launch any day now for its WRAPmail 2.0 technology. If this exceeds expectations and brings in revenues, WRAP could be in the early stages of a turnaround. Stay tuned as we will update readers as developments occur.
We will be updating on WRAP when more details emerge so make sure you are subscribed to Microcapspot so you know what’s going on with WRAP .
Disclosure: we hold no position in WRAP either long or short and we have not been compensated for this article.