June 16, 2005
SpeculatingStocks.com Stock Pick: Loudeye Corporation (LOUD)
Stock Price: $0.89 (short-term strong buy)
Loudeye Corporation is a worldwide leader in business-to-business digital media solutions and the outsourcing provider of choice for companies looking to maximize the return on their digital media investment. The company combines innovative products and services with the world's largest, licensed digital music archive.
Loudeye enables companies to participate in the online music service space, even though they may not have the resources to do. Recently, Loudeye launched a Greek digital music service for Virgin Megastores. This should be a hot space for Loudeye as companies continue to want a piece of the online music industry.
Ericsson and Napster announced Wednesday that they are teaming up to provide a music service for cell phones. We believe Loudeye will be able to profit greatly from moves like this.
In the last two years, LOUD has went on two runs from the $1.00 level to over $3.00. There is no reason to believe that this will not happen again in the future. LOUD has been bottoming at the current level for over the last month and a half. On May 24th, LOUD hit $1.14 in the middle of this bottoming cycle. We believe LOUD will breakout above $1.14 and possibly much higher in the near future.
SpeculatingStocks.com Target Price: We expect LOUD to move above $1.50 within the next 1-2 months.