As market stays volatile, Virtual Piggy (OTC: VPIG) rose 2.86% today despite two weeks of less-than-attractive performance. The rally in Virtual Piggy shares has provided investors with at least short-term relief in this small-cap stock.
Virtual Piggy opened today’s trading session with a share price of $1.70, slightly below yesterday’s $1.75 close. After some afternoon whipsaws, Virtual Piggy managed to rise and peaked today’s trading at closing price of $1.80.
Despite its less-than-charming performance recently, Virtual Piggy’s stock has given some respectable performance on the over-the-counter market this year- especially since March 15, 2012, when shares only priced at $0.55. On May 22, 2012, Virtual Piggy hit a share price of $2.47, which has been its highest performance year-to-date. Despite its recent loss, Virtual Piggy’s stock value has gained a huge figure — over 200% — since the start of 2012.
Virtual Piggy is a youth development organization that was founded in 2008. Initially, the firm was known as Moggle, Inc., but later the name was changed to Virtual Piggy. The company focuses on developing executive plans for the healthy development of children under 18. Virtual Piggy provides an online service that allows parents to keep an eye on their children’s spending and direct the way they shop online. Virtual Piggy sends an alert to parents when a child makes an online purchase so that parents are able to set a specific amount for their children to spend on each transaction.
On May 5th, the company announced that it would add new family-friendly merchants to its existing business network. The new business addition would include sport goods trading, games and toys. With the rapid accumulation of retailers, Virtual Piggy plans to add around 30 new merchants each month.
On May 22nd, Virtual Piggy hired Stedman Graham as a new member of its organizational Board of Advisors. Martha McGeary Snider, Chairperson of Virtual Piggy, stated that Mr. Graham is a great addition to the company’s team, as he is talented in designing desirable plans for youth growth.
According to their official statistics, Virtual Piggy achieved an income increase of approximately $2 million from the sales of their stock shares in 2010, plus an increase of around $1 million in 2011. They are aiming for an increase of $2.8 million by 2013.
Virtual Piggy’s recent declining share price may indicate growing concerns on whether the company is truly on the path it believes it is. It will be clearer next week when its new open price is determined, and during the next few months as we see if Virtual Piggy can maintain the value it has established since the beginning of 2012.
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