Shares of Marine Drive Mobile, Corp (OTC: MDMC) have exploded the last 2 sessions on massive volume. From lows of a dime, the stock has moved back up to a quarter and traded well over $10 million in dollar volume the last 2 days. While this one could still move much higher in the short term we do not see MDMC as a long term hold.
Marine Drive Mobile Corp is a San Francisco-based technology company dedicated to bringing simplicity, innovation and disruption to the online coupon industry. Their mission is to transform the online coupon space by giving businesses a totally free online advertising platform that makes creating and promoting daily deals as simple as sending an email. Marine Drive Mobile connects merchants and consumers through our proprietary software platform and business systems. Their flagship product, eTeeoff was launched to introduce golf industry merchants to a zero-cost way to create deals and offer their own electronic coupons.
This is a stock that we have reported on a lot over the past few months. This is a heavily promoted stock that made a run from $0.50 to a $1.25 earlier this year on the back of a multi -million dollar hard mailer and landing page promotion.
While the stock has traded over $10M in dollar volume the last 2 sessions and is currently up well over 50% traders should remember that this is a short term swing trade. This is not the kind of stock one wants to hold over the longer term. Over the long term it will continue to drop. However, judging by the massive volume and the stocks prior history of successful promotion, MDMC could go much higher in the short term!
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.