Date : March 10, 2018
New Opportunity: Carsmartt (OTCMKTS: CRSM)
Carsmartt is a Silicon Valley startup in the explosive Ride Share space. The company is also a recent entrant into the worldwide financial juggernaut that is the Cryptocurrency and blockchain market.
The stock’s float is relatively limited, constrained to around 42M shares. That can lead to explosive action… just ask folks who were watching this name in December when shares screamed higher by more than 2,500% in just two days.
At this point, the stock is in an uptrend and has pulled back to test support at the widely watched upward sloping 200-day simple moving average, and the chart looks primed with potential right now.
The pullback could be a gift, with both blockchain and rideshare independently deserving attention. But this interesting emerging player is picking up steam from both themes, and it only makes sense to imagine the buzz will potentially build from here for this stock.
Company: CarSmartt Inc.
Latest News: http://finance.yahoo.com/q/h?s=CRSM+Headlines
Company Website: http://www.carsmartt.com
Who is CRSM
Who is CRSM
Carsmartt (OTCMKTS: CRSM) bills itself as “a start-up company of the revolutionary APP. CARSMARTT.COM a ride sharing concept located in Palo Alto CA. (Silicon Valley),at CarSmartt we aim to make long distance traveling safer and more affordable, while connecting with people along the way. CarSmartt members can choose to share a ride or ship a package with the option of applying insurance coverage. All CarSmartt drivers are subject to a background check to reassure the safety of passengers. CarSmartt is currently now active in the USA and ITALY. However, our company will soon continue to expand to Europe and Canada.”
As noted above, this is a new and possibly emerging play in the explosive rideshare space. Uber was the real first mover in the space and has paved over many obstacles, laying an educational path in its wake, and helping younger companies like Carsmartt utilize market-tested strategies for issues like driver background checking, passenger safety, vehicle standards, and app adoption and feature design.
According to a recent Statista research piece, revenue in the Ride Sharing segment will amount to roughly $11.8 billion in the US in 2017. But significant growth lies ahead, with the number of users expected to explode to 72.4 million by 2022. The average revenue per user (ARPU) in the Ride Sharing segment amounts to $260.90 in 2017. If we carry that math forward, the market is set to expand to nearly $19 billion over the next five years – growth of nearly 40%.
With a market volume of $22.5 billion in 2017, most revenue is actually generated in China, suggesting there is room for the company to continue its global expansion trend and bump growth rates. The company has also recently moved into the $300 billion parcel shipping market with its recent deal to insure parcel delivery in its ride share vehicle force.
But the big excitement building at the company right now is the prospects for its new CoinSmartt segment. The company has entered into a significant agreement to do an ICO for its own cryptocurrency as well as manage an operating cryptocurrency mining facility.
As noted above, the company’s move to include blockchain and cryptocurrency activities and initiate its own token ICO is a landmark development.
According to its release, “Carsmartt® will utilize the new “COINSMARTT™” where all users of its Carsmartt® app, both drivers and riders and package owners, will pay utilizing a multi-Currency wallet and purchasing COINSMARTT™ for payment. Drivers will receive COINSMARTT™ for their ride payment that can convert into other Crypto Currency assets, such as Bitcoin or Ethereum or actual Cash. Carsmartt® will realize a substantial cost reduction in its Carsmartt® payment platform, e.g. credit card and PayPal transactions, while utilizing COINSMARTT™ which will provide real value to its token where customers will be utilizing COINSMARTT™ for purchases both inside and outside the Carsmartt® application.”
This is a hugely exciting turn for the company, and one that is not really priced into shares at this point, as we see it. Just consider how powerful ICO’s have been over the past year, such as the FileCoin ICO that raised over $260 million in just a short time.
That initial announcement was also quickly followed by the company’s further announcement about its purchase and supply agreement for equipment related to its crypto currency mining operations to support Coinsmartt and long term investment in crypto currency. The equipment included Antminer S9 (25 Servers), 8 AMD RX 580 graphic card mining Rigs (5 Rigs), Antminer D3 (5 Servers), and Antminer L3+ (5 Servers).
And, as covered, this all enters an equation that was already trending higher and already quite promising as a Palo Alto based global rideshare startup with verified progress in adoption in areas of Mexico, Colombia, and Italy.
Finally, we are also excited to see the company streamline its narrative by filing for and receiving a name and ticker change. Now, it’s as if everything is lining up for this story, and the company is starting to hit on all cylinders.
At this point, the CRSM pullback in shares has reached a strong-handed support zone according to our analysis. The prior breakout point is now under as key support along with the rising 200-day simple moving average. The stock is also registering bounce potential with RSI scoring a sub-40 dip in recent days, which often technically represents an oversold reading that can stack the odds in favor of some bounce action ahead.
The combination of oversold RSI readings and a rising major moving average supporting the tape is just what we like to see, especially with a pretty small float like this one.
The chart spells out some reasonable range targets above that could act as potential magnets on coming developments from the company. The last time they updated the Crypto roadmap, the stock shot just shy of 3,000% in a couple days. Who knows what we may see if they update their progress and establish a key date for the ICO.
Carsmartt (OTCMKTS: CRSM) is a start-up company of the revolutionary APP. CARSMARTT.COM a ride sharing concept located in Palo Alto CA. (Silicon Valley),at CarSmartt we aim to make long distance traveling safer and more affordable, while connecting with people along the way. CarSmartt members can choose to share a ride or ship a package with the option of applying insurance coverage. All CarSmartt drivers are subject to a background check to reassure the safety of passengers. CarSmartt is currently now active in the USA and ITALY. However, our company will soon continue to expand to Europe and Canada.
- CRSM just broke into the rapidly growing multi-billion dollar Cryptocurrency and Blockchain space
- CRSM is witnessing fast user growth as an emerging Silicon Valley startup in the explosive $12B rideshare space.
- CRSM has also recently moved into the $300 billion parcel shipping market.
- CRSM has begun international expansion, establishing new campaigns in Mexico, Italy, and Columbia.
- CRSM shares have been trending higher, above key moving averages, demonstrating an underlying supportive framework from insiders.
- CRSM shares are registering oversold readings while testing key support in a technical upward trend: an excellent combination!
We don’t often see Silicon Valley startups available to investors on the public markets. This is an interesting example of something that looks highly promising from each angle of analysis, but has yet to attract a crowd of speculators.
The addition of the Cryptocurrency and Blockchain theme to this stock adds major buzz credentials. The potential that the company could put out some kind of press release updating its progress on that front suggests a strong likelihood that lots of new eyeballs could be on this one very fast. And the technical picture adds up to some strong potential ahead.
CarSmartt demands immediate attention.