SmallCapFirm
(MICS) Update: Today's Nasdaq Breakout Idea Soars Early, Currently Up Approx. 33%
October 26th
SCF Readers,
MICS is on breakout watch right now.
Currently up approximately 33%, this Nasdaq breakout idea could start gaining some major attention.
As a low float profile with under 2Mn shares in its float, volatility is on full display early this morning.
Another thing to note is that heading into today's session, this profile had several oversold leaning technical indicators including 9-Day and 14-Day Relative Strength Indexes below 30%.
That means today's move could be the start of a healthy reversal after a recent downtrend.
Take a moment to get MICS on your radar right now and read through my initial report below quickly.
-----
Well that was something to behold...
Alerted on Monday night, my latest breakout idea caught the attention of the market big-time come Tuesday morning.
After closing Monday's session at $.58, the Nasdaq low float profile absolutely rocketed the following day to a high of $2.08.
With the backing from some incredible news, my alert exploded for a short term run of approximately 258% in under 24 hours!
That's what can happen when two potential catalysts pair together like a low float with positive company news.
Which is a good reason why you should clear your schedule for my next breakout idea arriving right now.
What do I mean by that? Simple. This is another low float idea.
As we saw earlier this week, a low float can provide the right environment to see explosive volatility intraday and/or short term.
Could we stand witness to another major mover tomorrow?
Listen. I'm not going to drown you in details this second because may already be running low to pull up this company profile:
*The Singing Machine Company, Inc. (MICS)*
The Singing Machine Company, Inc. is the worldwide leader in consumer karaoke products.
Based in Fort Lauderdale, Florida, and founded over forty years ago, the Company designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products.
Their portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street.
Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world’s first globally available, fully integrated in-car karaoke system.
Read more about the company here.
MICS Tiny Float/Volatile Potential Situation
According to the Yahoo Finance website, MICS now has a very low float.
The website reports this profile to have roughly 1.82Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
Could positive company news towards the end of 2023 provide MICS with a breakout spark?
-----
Time could be critical on this one. Drop what you're doing and get low float MICS on your screen quickly.
When time allows, do this:
