Slyce Inc.
Wednesdays close: 75 cents a share
52-week trading range: 42 to 84 cents a share since going public
Shares of this provider of imaging technology, which allows smartphone users to buy a product moments after photographing it, should climb higher as it partners with more big-name retailers, says Steven Palmer of Toronto-based AlphaNorth Asset Management.
U.S. luxury fashion retailer Neiman Marcus Group Ltd. and Tillys Inc., a U.S. specialty apparel retailer targeting teens and young adults, agreed last month to be in Slyces database. Slyce is not making money yet, but it will earn revenue from retailers that sign on and from per-search fees.
[Slyce] will turn a lot of heads once they sign up all these major brands in the coming months, said Mr. Palmer, who holds the stock in his AlphaNorth Partners hedge fund. I think the U.S. investment banks will be all over them, and will end up financing this company on the Nasdaq.
Shares of the company, which went public at 60 cents a share in July, could rise well over a dollar in a year, he suggested. The big risk is that a rival firm could come out with competing technology, but Slyce seems to have the head start in addition to having a strong management team and enough cash to move forward aggressively, he added. |
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