A company we have highlighted several times in the last year and a half, Siyata Mobile (TSX-V:SIM, OTC:SIMFF), has had an impressive last couple of months:
Siyata shares have more doubled from their November low as the company has executed brilliantly on its plan of aggressively growing revenue while expanding its customer base. This is the kind of breakout from a long term base which gets technicians excited and the next upside reference point is all the way up at C$.66 (reached in 2014).
Last month Siyata reported record sales of C$4.1 million in Q4 2016 which was a 52% year-over-year increase. In addition, Siyata has already received more than C$2 million in new orders in Q1 2017 which puts the company on track for another stellar, potentially record breaking quarter.
The surge in trading volume in SIM shares is an indication that larger investors have taken notice of Siyata’s operational momentum and the still relatively modest market capitalization (~C$30 million) has plenty of room to grow; if Siyata is able to gain a modest 1% share of the roughly $7.5 billion opportunity available in the commercial push-to-talk market it would generate US$75 million of revenue for Siyata.
Paradigm Capital recently initiated coverage and highlighted 5 reasons why they like this company. Read why here.
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