August 25, 2004
SpeculatingStocks.com Stock Pick: Ableauctions, Inc. (AAC)
Stock Price: $0.42 (long-term strong buy)
We want to reiterate that AAC is still a long-term strong buy especially after the Q2 report. The company reported revenue of over $1.75 million, an increase of over 979% from the same period last year. AAC also reported 98% increase in net profits over Q1. Profits were still minimal of just over $100,000.
Ableauctions.com, Inc. uses technology to turn normal live auctions into events that allow for the participation of interested Internet users. The company provides their technology and related services to auction houses, so far conducting over 3,000 auctions.
Ableactions.com merges the old and the new form of auctioneering. The company’s technology has changed auction houses from “brick-and-mortar” establishments to “clicks” and “bricks”.
We believe AAC will continue to expand in the live auction business. The stock is due for a strong run up in the near future, it is now at its lowest level in a long time.
SpeculatingStocks.com Target Price: We still expect AAC shares to go over $1.00 by the end of the year.