In a press release today, DiMi Telematics International (OTC: DIMI) issued a corporate update. The company covered four topics that dealt with the development of DiMi 4.0 Technology, a national brand awareness campaign, the Green Genie acquisition, and factors for future success. According to the release, the company is making good progress toward the development of its DiMi M2M communications platform and a scheduled commercial launch in the third quarter of 2013. In conjunction with the 2013 launch date, the company embarked on an advertising campaign last month titled “Smart Just Got Smarter”. Major cable networks such as CNN, Fox News, CNBC, and the Golf Channel have run the 30-second commercial. Acquiring Green Genie gives DiMi Telematics an immediate 14,000 green mobile app users that will moderately enhance revenues. Barry Tenzer, President and CEO of DiMi Telematics International, concluded that company is well positioned to achieve its long-term operational and financial goals.
The early morning press release appeared to pique the interests of buyers. The stock opened up two cents, or 16% higher than Monday’s closing price. Shares retreated a bit in the minutes following the opening bell as the share prices declined to $0.12. By mid-morning, volume remained brisk and shares traded at an intraday high of $0.165. Buyers, however, could not keep up the pace and the stock ended the day basically unchanged at $0.119. The trading session volume of 8.3 million beat the average daily volume for the stock by 2 million shares.
Shares of DiMi Telematics began trading actively for about $1.00 in mid-June. The stock climbed bit by bit until the first week of July when it hit a high print of a $1.96. A cloudburst of selling in the second week of July drove the stock down to $0.0132. So far, the month of August has been kinder to the stock with share prices rebounding nearly 1000%.
DiMi Telematics is a developmental company located in New York City. The company focuses on designing, developing and distributing cloud-based, machine-to-machine communications solutions. The company was founded in 2011.
In other related news, Steve Wozniak rained on the enthusiasm over “cloud technology” yesterday. During a question-and-answer session, the co-founder of Apple (NASDAQ: AAPL) said he was worried about the new technology. He felt cloud technology would present a lot of horrible problems in the next five years. Traders may have to consider whether his statement came from a biased view. Also, after the recent rally, is it time for DiMi Telematics stock to take a breather?
Recent promotions of the stock have come from The Stock Wizards and the Penny Stock Crowd. Both promoters touted the stock as a momentum play. Neither one listed any compensation. A total of eight promotions can be viewed on StockPromoters.com.
On Twitter today, @JediPennyStocks put the stock on long term alert, while @InvestorsLive noted the sympathy move of Independence Energy (OTC: IDNG).
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