Pudo Inc’s (OTCMKTS:PDPTF) stock was one of the biggest percentage gainers on the OTC market. The stock went up 20.42% to close at $0.718 in Monday’s session. There is no recent corporate development to explain this jump, but penny stocks usually make wild moves without any significant news. Penny stocks are volatile by nature so capitalizing on these sudden unexplained gains is often how investors play them.
Stock Up 38% YTD
Canadian e-commerce firm PUDO has been on a roll over the course of this year so far and since January, the stock is up almost 38%. However, that is not the only good news.
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At the end of the day, the scalability of a business is perhaps the most important thing that investors look for and in that regard, PUDO is well placed. earlier this month, the company announced that its technology is now finding favour with a range of e-commerce companies and helping those companies in saving on costs.
For the third quarter ended on November 30th 2018, the company reported a 35% year-on-year jump in its revenue to $243,965. However, net loss during the latest quarter increased to $ $713,360 due to non-cash stock compensation expense, compared to a year ago loss of $ 348,443.
Pudo- A Unique Space
PUDO is engaged in taking care of the hugely knotty issue of taking care of packages, which are returned by customers and its proprietary return management technology has enabled it to find a unique place for itself in the market.
The company offers this service to any e-commerce company and is not beholden to any company, which is why it can tap into as many companies as it wants in an industry that is valued at $550 billion. The undelivered packages which are either returned or not picked up by the customer because he is not present at his designated address, creates a huge strain on an e-commerce company. However, PUDO’s technology manages that problem and helps e-commerce companies, in addition to postal services, to save on costs considerably.