Home Knightsbridge Insights Sitting on a Cash Pile 14.0? A Winning ‘Meme’ Play

Sitting on a Cash Pile 14.0? A Winning ‘Meme’ Play

by Paul Ebeling

#cash#bullish#buy

$GTT

GTT Communications Inc. (NYSE:GTT) broke out on 16 June at 2.46 and confirmed on 24 June at 2.98. Thus, garnering an early speculative call with a 1 yr price target at 15.46/share

Thursday, all of our Key indicators turned, Very Bullish long term. The Key resistance is at 3.54 and the Key support is at 2.58/share

GTT is a network services provider to multinational enterprises, network carriers, and governments. The company’s modest market cap, even after Thursday’s strong surge, is just $165.6-M.

The percentage of short sales to the stock’s total float was around 40% as of 28 May.

Trading volume over the past 10 days averaged 6.15-M shares, a 1-M+ more than the 3-month average.

GTT Communications, Inc. markets its products and services through a network of direct sales force and indirect sales channels.

The company was formerly known as Global Telecom & Technology, Inc. and changed its name to GTT Communications, Inc. in January 2014.

GTT Communications, Inc. was founded in Y 2005 and is HQ’d in McLean, Virginia.

Have a positive weekend, Keep the Faith!

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.