Tech penny stocks share the stage with some of the biggest companies in the world. After all, Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) were once penny stocks. We’re looking at another older company that is switching it up: Bridgeline Digital Inc. (NASDAQ:BLIN).
Tech Penny Stocks
At the time of writing, the BLIN penny stock is selling for $0.20 USD and has fallen a significant 18%. The company’s Q1 report, released in February, showed less-than-impressive revenue of $2.38 million USD. This was a staggering 40% less than the year previous.
BLIN stock has been around for 10 years. So this is not a new company. In fact, there was a time five years ago, when these shares fetched above the $10 mark. Go back another decade, and you can add another ‘0’ to that value. But we have to accept that BLIN is now a very low-priced penny stock and, as such, investors may wonder if the company will ever see a stock boon again.
Well, looking at the chart, if there is a significant upswing ahead then it is a long time overdue. BLIN shares fell below the $1 mark last October and have made no sign of recovering since.
So, on the stock market, this penny stock isn’t faring the best. However, operations are moving.
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In February, the company released the latest version of its flagship Unbound product Suite—Unbound 7. To further bolster this software, it completed two strategic acquisitions. One of these acquisitions is of “certain assets of Stantive Technologies Group, Inc including OrchestraCMS, the leading digital experience platform built 100% native on Salesforce.com.”
The company will use these assets to expand Unbound 7 to “better serve customers providing highly-personalized digital experiences by leveraging the native Salesforce integrations and expertise.”
With a strong focus on the Sales as a Service (SaaS) marketplace, Bridgeline’s new product may be a contender in the lucrative cloud tech industry.
Based in Woburn, Massachusetts, Bridgeline Digital is a developer of Web application management software and interactive business technology solutions.
Featured Image: DepositPhotos © SergeyNivens
