Lifelogger Technologies Corp (OTCMKTS:LOGG) is in the business of providing wearable cameras. That is a segment that is not only growing rapidly, but also has a huge potential for the companies that have popular products to offer. Lifelogger is one of the companies with ambitious business goals, but is also faced with financial shortage that could hamper its forward march.
Financial shortage in the company is likely to lead to the undesired stock dilution to raise funds. Lifelogger Technologies Corp (OTCMKTS:LOGG)’s fundraisers in the recent past have not provided adequate funds, necessitating further fundraising efforts.
The fact that the company’s is generating some revenue already is good news because it means more funds would support more revenue. While most wearable camera companies have focused on security devices, Lifelogger Technologies Corp (OTCMKTS:LOGG) focuses on life recordings such as birthday and similarly memorable events. Such a focus is not only unique but is also brilliant as it strikes where there is a need.
Shares of Lifelogger Technologies Corp (OTCMKTS:LOGG) have declined more than 34% so far this year. The last session saw the shares shifting hands between a low of $0.33 and a high of $0.44 to close at $0.40. Nearly triple the daily average volume changed hands in the last session.
If Lifelogger Technologies Corp (OTCMKTS:LOGG) resolves its cash shortage concerns, the stock seems to have good price upside as current prices are less than half of the 52-week high of $1.10.
Lifelogger Technologies Corp (OTCMKTS:LOGG) is comparatively a new stock in the exchange but it has been the victim of the bears just like so many other micro caps. The last few months has seen the stock falling from the $0.95 levels to $0.40 levels and still it can’t be confirmed if a firm bottom is at hand. The coming week is going to be very important for the stock as the last daily candle has shown some buying interest despite a breakdown below a major support area.