My Size, Inc. – Nasdaq: MYSZ
UPDATE 12:57 PM EST – NASDAQ:MYSZ shares have gained over 100% on very heavy volumes. The Israeli-based APP company ended Friday’s trading at $3.85 and has reached a high today of $10.90 before setting back to just under $8.
SNU’s original article published before the opening bell today:
Israeli-based My Size Inc. (Nasdaq: MYSZ) is a novel approach to a problem shares by both consumers and online retailers – accurate measurements. My Size Inc. (Nasdaq: MYSZ) is the developer and owner of MySizeID and SizeUp DIY. While shopping online, the founders were frustrated with the “hit or miss” fit of different brands, and this frustration was augmented by the return process – a frustration not only shared by online retailers but also monetized in their operational expenses.
MySizeId lets consumers use their smartphone APP to create a secure, online profile of their personal measurements, which can then be utilized with partnered online retailers to ensure that no matter the manufacturer or size chart, they will always get the right fit. For online retailers, MySizeID offers a solution that can potentially reduce returns from online purchases, which will in turn, increase margins and ultimately result in higher brand loyalty.
SizeUp DIY is a smartphone APP that allows the user to use their smartphone to measure across any flat surface. The new technology enables users to instantly and accurately measure just about any object, flat surfaced or otherwise, by moving their Smartphone, in the air, from the starting point to the end-point of an object. Measurements can be taken in either inches or centimeters.
My Size Inc. (Nasdaq: MYSZ) started trading in 2016, but MYSZ shares have seen virtually no real volume until recently – less than 150,000 shares traded so far in February. Last week, MYSZ fell from $5.12 to $4.46 and Friday MYSZ closed at $3.85. Given the light volume and the price action, this could represent a real opportunity for investors that want in early on a stock that could impact an entire consumer sector and that solves a real issue for both consumers and online retailers.
I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.