Elite Data Services Inc (OTCBB:DEAC) stock surged 38.89% and closed at $0.005 which is an increase of $0.001 from the prior day’s close. Volume skyrocketed to 14.23 million shares trading hands compared to its average of only 5.93 million shares. Roughly $73,000 worth of shares occurred during the trading day.
DEAC has been consolidating after a recent surge in the stock price from $0.002 all the way to $0.013…a gain of over 550% in just two trading days. Early investors hit the jackpot with the surge in the company’s stock price. The share price could see further gains and attempt to breaks its prior high set a few days ago. Typically consolidation is healthy for a stock and allows the stock to build a strong, supportive base. If the stock breaches its 52-week high, it could climb over 100% from the closing price.
Elite Data Services, Inc. is a technology company. Software applications are developed to market and advertise assets that the Company owns and controls. The core focus for DEAC is on the development of its automotive platforms. It recently has begun expanding into the hospitality and gaming industries. DEAC has had revenues exceed $100k since 2012, over four years ago.
DEAC operates through two LLC. The first is ClassifiedRide which is an online selling and buying platform for autos. ClassifiedRide provides a classified listing capability where users can list vehicle truck, boat (or anything that motor) either by free or paid listing options which is very similar to craigslist. However, upon further research this website does not seem to be working. In addition, according Alexa, the website is not even show up in rankings anywhere. Another website, compete.com shows that the website does not have enough traffic to generate an analysis of the number of visitors.
The second LLC that DEAC operates through is Autoglance. DEAC owns 51% controlling ownership of Autoglance, LLC. Autoglance is a search engine of used cars that prioritizes and compares inventory in individualized markets. Our in-depth research has discovered that this website is operating and is active. According to Alexa, a website ranking analytical company owned by Amazon, autoglance.com is ranked 8,000,000 in all the websites globally. Unfortunately, there is not enough visitor traffic to show up on compete.com. Looking at Autoglance’s website, it has over 80,000 Facebook likes and 324,000 active listings. The blog seems to be inactive since 2013.
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DEAC is currently trading at a $109 thousand market valuation. Yes, you read that right…only $109 thousand! Given the company has no revenues, spending run-rate in SG&A at over $250,000 per quarter, and almost no cash on hand, the market valuation seems to be generous. DEAC has been issuing debt and stock every quarter and will likely continue to do so. Stay tuned for more news on DEAC.
We will be updating on DEAC when more details emerge so make sure you are subscribed to Microcapspot so you know what’s going on with DEAC.
Disclosure: we hold no position in DEAC either long or short and we have not been compensated for this article.
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