WRIT Media Group, Inc. (OTCQB: WRIT) is engaged as a diversified media and software company. Shares of the technology company are rallying 12.50%, through early trading on Wednesday, August 30, 2017. Over the past month, WRIT Media Group, Inc. has seen average daily volume of 170,449 shares. However, volume of 676,788 shares or dollar volume of $365,465, has already exchanged hands on Wednesday.
Shares of WRIT Media Group, Inc. are climbing today, after the company announced that Discovery Equity Research has updated its coverage of the company. The research company continues to hold its “Strong Buy” rating and has decided to raise its 18-month price target to $2.45 per share. Here is the full press release detailing of the updates coverage:
WRIT Media Group, Inc. Press Release:
LOS ANGELES, Aug. 29, 2017 /PRNewswire/ — WRIT Media Group, Inc. (OTCQB: WRIT) announced today that Discovery Research has updated its coverage on WRIT with a revised 18 month target price of $2.45 per share.
In the updated report, the analyst writes, “We are extremely happy with the progress we see at WRIT at this time. In summary, we see the following as positive developments:
- The opportunity to license its technology
- The ability to raise significant capital through a potential ICO if they so choose
- Breaking into revenue for the first time and seeing that revenue increase quarter over quarter showing us that the business is scaling rapidly
- The creation of a cutting edge, evolved digital mining platform
- Making Pelecoin officially available to the public for the first time
- Adding a key employee to drive technology strategy and execution
For these reasons we believe that WRIT will continue to make advancements in its business and we retain our STRONG BUY rating on WRIT common stock and have increased our price target to $2.45/share.”
The full Discovery Research report is available and can be read by following the link below: https://www.otcmarkets.com/financialReportViewer?symbol=WRIT&id=178231
Discovery Research Disclosure: Discovery Research LLC has been paid for this research report and/or may own WRIT common stock or other security of the Company. Should the Company dilute its shareholders meaningfully, fail to see a validation in its Blockchain technology, fail to sign on with major financial partners to accept the currency, fail to receive required funding in the future, fail to launch CrypFXPro exchange, or fail to increase the number of wallets/users, the Company may struggle, and our price target, which depends on one or more of these events occurring, may not occur. The sponsored awareness reports should be viewed as paid advertisements. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.
About WRIT Media Group
WRIT Media Group, Inc. (OTCQB: WRIT) is a diversified media and software company whose operations include digital currency software development, including trading platforms and Blockchain solutions.
Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group’s latest 10-K filed March 31, 2017 and 10-Q filed June 30, 2017. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Discovery Research LLC has been paid for this research report and/or may own WRIT common stock or other security of the Company. Pelecoin, CrypFXPro and their related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners.