California-based company, PSQ Holdings, Inc. (NYSE: PSQH) operates an online marketplace connecting freedom-loving Americans with businesses sharing their values. The company has a market cap of $155M and the promoters currently hold 39% of the total equity.
The Dramatic Growth
The Organization’s client base increased dramatically between December 31, 2022, and June 30, 2023. It rose by 212% to 1.20 million. Numerous causes, such as enhanced accessibility, enhanced application performance, and an expanded Effort Program, were cited as contributing to that rise.
The PSQ’s consolidated revenue increased by 1,144% in the first half of this year, to $378,000 in Q1, $530,000 in Q2, and $908k in Q3. This contrasts with the $73,000 in sales in the first half of 2022, demonstrating the tremendous expansion the business has seen lately. The Organization’s $32 million in cash and equivalents as of July shows that management has enough money to sustain operations. This poses a great opportunity for investors who are interested in small and undiscovered companies in the market.
What Did the Management Say About the Growth
The Chairman and Chief Executive Officer, Michael Seifert stated some good fortunes for the firm in the latest conference. He said that Instead of focusing on what’s wrong, the company celebrates what’s right. The company’s goal is to help underlooked individuals who uphold the principles that founded this great country (referring to the US).
The company also aspires to help small enterprises and brands that represent the greatness of the country. Since the start of the year, their community has seen incredible growth and involvement, and they are eager for what lies ahead.
Technical Analysis and Prediction of the PSQH Stock Price
At the press time, the PSQH stock price is trading at the level of $6.38 after coming above the immediate support of $4.43. The bulls have reclaimed the support and are now moving toward the resistance of $9.12. Both the EMAs are above the price. The 50-day EMA is at $8.76, while the 150-day EMA is at $10.04.
The Price prediction for the PSQH stock price is bullish till the first resistance level. The RSI is also reversing from its oversold level and is currently in an uptrend. The bulls have regained support and the path is clear until the first demand zone.
Conclusion
PSQ Holdings, Inc. (NYSE: PSQH) operates an online marketplace. The company has done extraordinary growth in the recent half year, which is making it the next hot penny stock. However, the PSQH stock price has just reclaimed support and the prediction is bullish till it reaches its demand zone.
Technical Levels
- Support: $6.38, and $4.43
- Resistance: $9.12, and $13.9
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/10/26/psqh-stock-price-hidden-gem-that-you-might-consider-buying/