Home Financial Markets Penny Stocks Why SponsorsOne (SPONF) Stock Is Trending Higher, Here Is An Explanation?

Why SponsorsOne (SPONF) Stock Is Trending Higher, Here Is An Explanation?

Shares of SponsorsOne Inc (OTC: SPONF) surged by 38.36% to $0.0440 at ring of the bell on Thursday. Number of shares traded on the day was 66.40M against average weekly volume of 27.77M shares while it has added about 75% over the past 5 sessions.

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SPONF’s Business Model:

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Sponsored

SponsorsOne Inc is a technology company that develops SponsorsCloud, a cloud-based social sponsorship platform designed to connect and promote one-to-one interaction across social networks between businesses and consumers. With the SponsorCoin platform and its highly scalable-smart promotions and crypto-currency, SponsorsOne is the pioneer in the next evolution of digital marketing through social media influencers, storytellers and digital-commerce. Especially when coupled, these help marketers within the social media world to create and maintain unique and highly active influencer groups (from professional to small influencers). Data-driven Marketing Campaigns provided by SponsorCoin will enhance brand engagement with customers providing them new tool to interact with.

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What Happened?

The stock’s rally began at week-start on news of company’s entrance into the $24 billion Direct to Consumer (DTC) Spirits Market. The company on Tuesday announced that it has executed a warehousing and online retailing deal with Speakeasy Co. The agreement was to market Doc Wylder’s Lemonade of the Premier Soda Consortium as SPONF’s first DTC offering.

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In early trades today, the stock was still flying higher. As of 09:57 a.m. EST, the stock price was at $0.0635 rising +44.32%.

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