OHGI Launches Mobile Wallet, And Launches For 25% On Monster Volume
We put OHGI on your radar today, and for good reason. We took this thing apart and put it back together, and came up with a very strong sense that it had some real advantages coming in today. For example, strong core metric growth, big bullish technicals, and powerful recent catalysts.
All in all, the stock treated us extremely well today, popping higher to the tune of about 24.7% in total available gains.
After opening at $0.954, OHGI took off right out of the gates to reach $1.19. In addition, another factor we like to see is the relative strength in transaction volume under the surface, which came in at excellent levels so far today.
One major catalyst that no doubt contributed to the big rip was this:
One Horizon Launches Android Mobile Wallet for Cashless Payments
In essence, the company announced that it has released a new service for mobile operators to allow users to purchase call credit using their debit or credit card. Our smartphone top up service is being offered first through Smart Communications, the Philippines leading wireless service provider for its Smart Roamer1 and Marino All Abroad2 mobile app brands.
Traditionally, mobile operators require users to top up prepaid accounts by purchasing top up vouchers such as scratch cards at retail outlets. Such physical top up methods are expensive to operate and incur high security and distribution costs. When using iTunes, users on iPhones can only top up using Apple payments that levy a 30% charge per top up. Similarly, using Google the same 30% charge applies to the operator. But Apple and Google payments solutions only go so far; operators are still required to manage the transaction flow, issue refunds, deal with customer questions and complaints.
That represents potentially game-changing news, and it helped traders capture monstrous gains this morning in just minutes.
We would certainly suggest keeping OHGI on your radar in the meantime. This type of explosion is often like a pre-quake before the biggie. Already we’ve seen a couple of these spikes over the past few weeks.
The big one may still be yet to come!