QMCI.OB shares continued reaching for higher prices today as the stock broke through the 50-day moving average. Many feel that QuoteMedia’s stock is deeply undervalued, especially after the company announced a 56% increase in revenue for Q2 2007.
During the second quarter, QuoteMedia added data delivery capabilities covering 40 European, Asian and South American Exchanges including Berlin, Paris, Amsterdam, Madrid, Milan, Vienna, Hong Kong, Shanghai, Australia, Buenos Aires, Sao Paulo and many others. QuoteMedia’s new international data coverage expands the company’s vision to a global market. QuoteMedia also successfully commenced providing Real-Time Level 2 London Stock Exchange data to customers in the U.K.
The President of QuoteMedia, Keith Guelpa, believes that the new capabilities had a key impact on growing the company’s order book substantially, and provides a solid base for continuing the trend of strong revenue increases. The President stated in the press release announcing the Q2 results, “We believe that we are well positioned and on track to meet our longer term objectives.”
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