Several times in the past I have expressed my enthusiasm for a small company called Destiny Media.(DSNY)
The last time was in February when it & FOUR were both about .60. Right now it is $1.44. Now I know people like wmish are able to make 150% gains in a day, but for me and others a 150% gain in 5 months is a pretty nice return.
I still think this is just the tip of the iceberg and that this little gem still has 10 bagger & more potential. Really big things are expected to begin in September. Keep an eye on it.
Ohio, one more thing about MITK that you should know.
It has a very high Short Interest. Something in the neighborhood of 25%.
This tends to really accentuate reactions to good news or bad news. Since I believe that going forward the likelihood for good news far exceeds the likelihood of bad news, I view the large short interest as a positive.
Should someone like Chase Bank announce adoption of Miteks Mobile Photo Bill Pay, the share price could go up 50% to 100% in a flash.
" Any others like it in the early stages of a big run-up?"
I think it's a great time to pick up some MITK for at least a triple over the next 12 months. Price right now is in the mid 5's. Got up to close to $8 recently but then they did a secondary for $5.25 and that knocked the share price down. With growing small caps that's not unusual and the $15M cash they picked up gives them $30M in the bank and no debt.
They have a monopoly on Mobile Photo Deposit technology. That's where bank customers can take a picture of a check on their smart phone and have it automatically deposited to their bank account. The reason I believe it has to be at least a triple from here is that last quarters earnings were based upon only about 300 banks being "live" with their technology. That's only 1/3 of the 900 banks that have signed up to use it. There is a time lag between when the financial institution signs up and when they actually put the software to use. The other 600 banks will probably all be active within the next 6 months so just on that alone they should double or triple their revenues.
On top of that they just introduced their Mobile Photo Bill Pay product. They already have 2 of the top 25 banks using that, and it is expected to be the next hot technology in the banking business just as MPD has been for the last year.
I have a 12 month price target on it of at least $18.