CarSmartt Stock

CarSmartt (OTCMKTS: CRSM), founded in 2007, is a U.S.-based online marketplace connecting drivers and users for ridesharing. It developed a carpooling and ridesharing application with the purpose of making short- and long-distance travel safe and affordable.

The company’s headquarters are in Florida, and it trades on the over-the-counter (OTC) market.

CRSM Stock Price

CarSmartt’s 2021 has been mixed, with fluctuations in price throughout the year. Nevertheless, the company's share price reached highs of $0.055, a gain of 75.44% on July 26, suggesting some strong progression for the company.

However, since then, its share price has tumbled 83% as the stock continues to fluctuate, and there seems to be no real direction in its price. CarSmartt’s market cap is currently at $5.38 million.

In contrast, Avis Budget Group Inc (NASDAQ: CAR), a competitor, has expanded its brands, becoming the parent company of Zipcar. With the CAR share price reaching highs of $143.86 and a market cap of $9.48 billion, CarSmartt is quite a distance from the market leader and has a long way to go before it catches up to larger companies in the industry.

CRSM Stock Forecast

CarSmartt’s share price has fluctuated throughout the year. COVID-19 took a toll on all travel, which included local auto travel as well. However, the industry has been slowly picking up due to restrictions being lifted. This scenario may improve CarSmartt’s forecast in the short term and potentially even the long term, depending on consumer trends.

Furthermore, a recent acquisition of Immobilfin S.P.A diversifies the company's portfolio. Acquiring a real estate company is an interesting move and not one that was expected. Currently, the stock is heading towards its recent lows, but as transportation demand picks up, increased levels of driving could work in a potential investor’s favor. However, being a penny stock, you will experience a higher level of risk associated with investing in CarSmartt.

CRSM Stock News

Despite the company not filing any recent earnings reports, it has made some announcements regarding acquisitions.

• Smartt Inc announces the acquisition of Costrade S.P.A, a construction company founded in 1951 with approximately $1 billion in executed projects.
• Smartt acquired $47.6 million revenue-generating asset Immobilfin, a real estate company, generating approximately $1.5 million per year.
• In addition, the company announced the acquisition of 100% of luxury home specialist Black Brick Construction in June of this year.

While the news on CarSmartt is thin, as the company grows, it will make more announcements that you can keep track of by adding them to your watchlist. 

How to Buy CarSmartt Stock

If you already have a brokerage account, you log into your account, find CarSmartt stock and purchase the number of shares you require. However, if you do not have a broker, you can take these steps to buy the stock.

Find a brokerage.

A broker is an intermediary between buyers and sellers. Research into the right brokerage company is essential to ensure you get the best price and are not hit with unexpected fees or, in the worst-case scenario, scams. Since CRSM is an OTC stock, not all brokers offer it. However, the ones that do will allow you to buy its shares. Some brokers charge commission fees.

Calculate the number of shares you wish to purchase.

You have opened and funded an account of your choosing, and now you must calculate how many shares you want. This decision depends on the amount of money you have, the amount you wish to use and the company’s share price. It is crucial to assess the amount of risk you take and how it could impact your portfolio.

Make sure a plan is in place. For example, it may be helpful to start with a small purchase and build more shares by investing in the company consistently over a period of time.

Pick the order type.

You can choose from many order types, but the 2 order types you need to be aware of are a market order and a limit order.

A market order fills your position at the current price. Thus, it ensures the broker will, more than likely, fill your order. For example, you purchase 100 shares at $8, and the current market price is $8, meaning the broker will almost certainly fill your order at $8. 

An alternative option is a limit order. A limit order gives the investor the freedom to enter at a price of their choosing. However, the order will only be filled if the price reaches that level, resulting in the risk that you may miss out on the trade.

Buy and submit.

If all the steps above are achieved correctly (double-check you have input the trade details accurately), you can click buy and submit as the final step. Your broker will likely notify you if the order is filled. In addition, you can manage the trade through your broker’s portfolio or trades tab.

Best Online Stock Brokers for CRSM Stock

Benzinga has done the research for you with this list of the best online stockbrokers for CRSM shares.

CRSM on Benzinga Pro

Screenshot taken from Benzinga Pro on 10-13-2021

Since reaching a high of $0.06 per share back at the end of July, it has been downhill for CarSmartt stock since then, and the technical indicators shown on the chart do not suggest the trend will change anytime soon. 

Despite the continued fall, the Relative Strength Interest (RSI) is still nowhere near the oversold level, suggesting further downside for the stock before there is a reprieve. 

In addition, since crossing back below the 50-day moving average in late August, the stock has not once tried to test the level. So even if a pullback occurs at any point over the next few months, CarSmartt’s stock price will need to break that level before it can be expected to make a sustained move higher. 

Cheap Transport Method, Cheap Stock

Ridesharing and carpooling are cheap alternatives to move around, but hygiene is a constant worry for some since COVID-19 is still prevalent in some regions. As the clutches of the pandemic ease, spending and travel will increase, which can only benefit CarSmartt’s business further. 

The strengthening demand allows for the company to expand. Its continued investment and acquisitions suggest it is confident in the business moving forward. However, as a penny stock, it carries a more significant risk that investors need to be clear on before buying shares in the company.

Frequently Asked Questions