The Meet Group (MEET) is a penny stock that I've been watching for several months because I personally use some of their app, Skout and MeetMe.
The stock is up big since its $3.14 near 52 week low and just crossed a key resistance level of $5. I am long MEET shares and also bought a 12/20 Call option on Robinhood.
There are a lot of reasons to love a stock like The Meet Group. Their apps get a lot of users and the company is currently profitable. One of the biggest trends in matchmaking apps is live video chat and the company just launched the feature this year.
They offer their apps for free and monetize them with display ads but also offer a monthly premium subscription with no ads and more user features.
In the most recent Q3 report, the company posted $0.13 EPS and repurchased 3.4 million shares for $12 million. Share buybacks are a bullish signal that management believes the stock is currently undervalued.
Trading at just a $327 million market cap, I believe there is a lot of upside long term in this company.
Disclosure: I own shares of Meet Group (MEET). This is not financial advice. I am documenting my recent stock & options purchases. Please do your own research and consult a financial advisor.
Tarik Pierce is the founder of InvestorTrip.com and regularly contributes articles to this website.
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