eCrypt Technologies Inc. (ECRY) Launches International Television Marketing Campaign
Shares of eCrypt Technologies Inc. (OTC: ECRY) surged more than 20% in today�s trading. The penny stock reached a high of $0.70 in trading. At last check, it was up by 21.27% to $0.667, with volume up from daily average of 18,000 to 2.45 million. Boulder, Colorado-based eCrypt Technologies provides encryption software that secures the transmission of, storage of and access to digital information.
The company today announced that it has launched a marketing plan that includes online advertising and comprehensive television spots. The campaign will be aired from today on CNBC. The commercials will feature the company�s flagship product �eCrypt� in 30-second spots. Bradley Lever, CEO of eCrypt Technologies, said that eCrypt is finally ready for mass use. The launch of campaign is in accordance with the company�s fiscal 2010 operational plans.
In 2009, the company reported revenue of $89,447. It made an operating loss of 242,080 and a net loss of $250,223 in 2009. The spike in the stock today is a little hard to comprehend – the marketing campaign will indeed give the company exposure, but does its really command a 20% jump? Apart from the launch of a marketing campaign, there is no significant development in the recent past to justify the rally. And it remains to be seen what impact the campaign will have on the company�s top-line. Even if there is a positive impact, it will probably take some time before it shows in the company�s financials.
The penny stock has a 52-week range of $0.08-$1.35. This shows that stock has been volatile and seen a lot of price fluctuations in the past year. Currently, the stock is trading above its 50-day moving average.
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