IASCA.ob Gains 50%, Tests $.25
As the worldwide social networking marketplace continues to blossom, particularly in Asia, opportunities are arising by the day for new online portals that enable web users to share everything from photos to consumer goods.One such emerging player is IAS Energy Inc. (IASCA.ob). As I've mentioned in previous editions, IASCA.ob owns a majority interest in www.video1314.com, an Asian-centric online portal that aspires to become Asia's Youtube.
IASCA.ob gained 47% or $.08 Wednesday on total volume of 61,000 shares. In regards to the bullish characteristics of the stock's recent performance, average 7-day volume is up nearly 25% while the average 3-day closing price is up almost 15%.
The $.25 close today marked IASCA.ob's highest print since 9/11 and is a positive indicator, in my opinion, that Wednesday's momentum could carry through on Thursday. If the stock doesn't sell off at $.25 early on, as it did early last September after $.27 was flirted with, we could be in for a move higher over the near term.
From an operational standpoint, IASCA.ob recently reported that its partially-owned website notched a record 934,147 hits in a single day and outlined future goals of 1 million hits per day which management believes will lead to "substantial advertising revenue".
With aspirations of Video1314 soon becoming one of Asia's largest online media sharing communities, IASCA.ob recently announced that its board of directors has approved a corporate name change to Video1314.com, Inc. The decision shouldn't be met with much resistance from shareholders, who do have to approve the adaption. It does, of course more accurately reflect the core focus of the company and should help facilitate improved brand recognition going forward and prevent any potential confusion amongst potential investors and/or consumers.
We'll be watching IASCA.ob closely this morning to see if more announcements are forthcoming and also if the stock can begin pushing up closer to $.30.
Labels: IASCA.ob, Online Communities, OTCBB: IASCA, Social Networking, video1314.com
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