The share prices of QMCI.OB increased 5.26% today on over 13,000 traded shares. The stock recently formed a double bottom reversal pattern which has been known to predict the beginning of upward trends.
Earlier last week, the company announced a 56% increase in its second quarter revenues compared to the same period last year. Deferred revenue, payments received in advance from customers that will be recognized as revenue in future quarters, increased 48% from $253,853 to $376,178.
QuoteMedia also announced that it has completed the beta testing of its new products, QuoteStream II and Quotestream Pro. The reported reaction from customers participating in the beta program has been extremely positive. The company expects both products to launch in the third quarter of this year.
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