Spare Backup, Inc. (OTC:SPBU) still has its performance boosted, as newsletter picks just keep coming. Like suggested before, the company is not very hot as a long-term investment, but news and promotions are still doing their thing.SPBU have bundled their products with “Geek Squad Max” Computing and “Max Mobile Protection” Programs, which will be launched by Carphone Warehouse Limited in the UK this October. The news has set the market into overdrive and a few spectacular days might be ahead.[BANNER]
Other than that, the stock continues its epopee among the newsletter providers. Services like Penny Stock Prophet, Penny Stock Shark and Hototc.com have recommended the stock. These newsletter are known for holding large user databases and can drive the penny stock price up on the short term.
Spare Backup might be getting a few deals, but their fundamentals are rather messed up and long term improvements would be needed to fix that. SPBU balance sheet shows huge debt and their latest SEC filing depicted tremendous decrease in revenues since the middle of 2009. Losses have been running up at the same time.
Today, the share price is running up in continuation of Friday’s last minute rally. This appreciation could run for most of the day, but traders have to be quick in case that some profit taking kicks in.
