Should I Buy SpongeTech, SPNG Stock

We don’t often give stocks a ‘AAA buy rating’ but this is one of those “golden jewels” that we really like.
SpongeTech (SPNG) has proven itself to be a growth company with good products, innovation and a price point that is recession proof. This along with new product releases in the pipeline makes it a STRONG buy for us.
The company has also been contacted by larger retailers such as COSCO and we expect to see their mass retailer sales grow immensely over the next 24 months.
Now, can you play the day trading game with this one?
You can, but more than likely you will miss buying on the upper trend. There have been some profit selling drops but we see a steady incline of the graph for the next 12 – 24 months.
Our target point?
We believe the stock will hit $2 – $3 over the next 24 months.
This is largely due to the fact that they have only launched 2 or their 5 divisions.
Also, the release of their SPONGEBOB line will give it a short term bump as well.
Here is more info from them about their company.
SpongeTech® Delivery Systems, Inc., formed in 1999, set out to design, develop, and deploy a broad-based series of branded and private label packaging solutions for consumer products and industrial applications. The Company’s vision is to offer innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive, patented packaging technology. The focus is on earth friendly products.
SpongeTech® Delivery Systems, Inc, is a company which designs, produces and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology. These sponge-based products utilize SpongeTech®’s proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company’s sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is soaked and applied to a surface with minimal pressure. The Company’s current product line is designed for Car Care and Pet Care. However, SpongeTech® is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique ’foaming’ bath sponge for children.
SpongeTech® has formed 5 wholly-owned subsidiaries they are:
1. SpongeTech® Auto, Inc.
2. SpongeTech® Pets, Inc.
3. SpongeTech® Health & Beauty, Inc.*
4. SpongeTech® Kitchen & Bath, Inc.*
5. SpongeTech® Medical, Inc.*
To date, products have been introduced for the SpongeTech®Auto, Inc. and SpongeTech® Pets, Inc. Products. Upcoming is the launching of the SpongeTech® Health and Beauty Child Care Products. The SpongeTech® Kitchen & Bath, Inc. and SpongeTech® Medical, Inc. and SpongeTech® Health & Beauty, Inc. products are in development.

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