Small Cap Network Blog

Not to keep dwelling on something we put to bed a couple of weeks ago, but you may be interested to know that small cap company SpongeTech Delivery Systems (SPNG) has raised its 2009 revenue forecast from $35 million to $40 million. The announcement was prompted by significant orders from new customers.

Concerns had been expressed that SpongeTech’s customer base was limited to two big ones, and really only three significant buyers. Adding some new ones will help stave off some of that isolation risk.

The stock seems to be responding a little, though it’s still not even challenging last week’s highs. Nothing new there. On the other hand, it’s been tough to distinguish between a stock’s organic weakness and the market’s overall bearish tide.

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