$MJLB Continues to Exhibit Constructive Breakout Momentum
Ultrack Systems Inc (OTCMKTS:MJLB) provides GPS tracking solutions through the development, implementation, and distribution of electronic monitoring and tracking systems for companies in leasing, transportation, construction, disposal, and many other service-driven industries.
This is a stock we profiled on Sunday, heading into this week when it was trading under a dime.
We made a simple case on technical and fundamental grounds. The stock has already doubled, but the trend remains in place and the company continues to ramp up major catalysts. This is a momentum stock in a momentum market.
Shorts beware!
For a little context, MJLB recently retired 100M shares of common stock, dramatically reducing dilution and float, driving potential upside on any new interest. That was preceded by a sharp reduction in debt.
The company also recently announced the acquisition and rebranding of Vexxar GPS Tracking, a successful company operating in the transportation industry that provides tracking solutions for drive-ends and trailers with refrigeration (reefer) controls.
Ultrack Systems Inc (OTCMKTS:MJLB) has also been working with EV manufacturers and integrating its tech. The Company has successfully integrated its tracking solutions into EV vehicles such as the BMW i8 and all Tesla models.
MJLB also recently partnered with the $27B telecom giant, Telus (NYSE:TU). TU was established in 1990 and is the second largest telecommunications provider in Canada and currently boasts over 12,000,000 monthly subscribers. So, there’s a ton going on here.
Looking ahead, MJLB is getting ready to roll out its new Electronic Logging Device. According to a recent corporate update, the company is planning the rollout of its ELD in Q1. The ELD market is currently booming because of the vast number of growing commercial fleets coupled with new Canadian national mandate and requirements. Many countries including the USA and Canada have begun mandating hardware that connects to a vehicle’s engine to record driving hours and other data. The ELD hardware is only as good as the software it pairs with and Ultrack provides the most robust software currently available in this growing industry. Especially important moving into 2021 is for ELD’s to offer data that is specific to trucking industry and Ultrack is already there and ahead of the curve.
This is a stock we profiled on Sunday, heading into this week when it was trading under a dime.
We made a simple case on technical and fundamental grounds. The stock has already doubled, but the trend remains in place and the company continues to ramp up major catalysts. This is a momentum stock in a momentum market.
Shorts beware!
For a little context, MJLB recently retired 100M shares of common stock, dramatically reducing dilution and float, driving potential upside on any new interest. That was preceded by a sharp reduction in debt.
The company also recently announced the acquisition and rebranding of Vexxar GPS Tracking, a successful company operating in the transportation industry that provides tracking solutions for drive-ends and trailers with refrigeration (reefer) controls.
Ultrack Systems Inc (OTCMKTS:MJLB) has also been working with EV manufacturers and integrating its tech. The Company has successfully integrated its tracking solutions into EV vehicles such as the BMW i8 and all Tesla models.
MJLB also recently partnered with the $27B telecom giant, Telus (NYSE:TU). TU was established in 1990 and is the second largest telecommunications provider in Canada and currently boasts over 12,000,000 monthly subscribers. So, there’s a ton going on here.
Looking ahead, MJLB is getting ready to roll out its new Electronic Logging Device. According to a recent corporate update, the company is planning the rollout of its ELD in Q1. The ELD market is currently booming because of the vast number of growing commercial fleets coupled with new Canadian national mandate and requirements. Many countries including the USA and Canada have begun mandating hardware that connects to a vehicle’s engine to record driving hours and other data. The ELD hardware is only as good as the software it pairs with and Ultrack provides the most robust software currently available in this growing industry. Especially important moving into 2021 is for ELD’s to offer data that is specific to trucking industry and Ultrack is already there and ahead of the curve.