One of the biggest
winners this week was Sparta Commercial Services, a technology company focused
on providing consumer and municipal financing to the powersports, recreation,
and automobile industries. Shares of Sparta Commercial Services climbed more than
21% during the week after investors had a chance to digest the impressive
earnings filed on December 23rd.
The report was
bolstered by several positive news announcements during the past few months
which have given investors increasing confidence that the company is moving in
the right direction. In August, Sparta Commercial Services announced the launch
of Truckchex, an online source for history reports on commercial and heavy duty
trucks. This launch is the third of its kind and follows the launch of both
Cyclechex and RVChecks. Purchasers of these history reports will get a full
breakdown of a vehicle’s title history, reported damage, odometer readings, and
more. These launches will make purchasing vehicles easier and safer.
Specialty Reports, a
subsidiary of Sparta Commercial Services, is inspiring customers through a
strategic partnership with More Than Rewards, LLC. SRI’s Specialty Mobile Apps
division will offer its dealer’s customers access to the More Than Rewards
loyalty program technology via their smart phones. Consumers will have instant
access for viewing rewards accounts. This will allow consumers to receive
rewards for products they are interested in purchasing.
These announcements
are proving beneficial as Sparta Commercial Services aims to increase its
already strong customer base in its municipal lease program. Three
municipalities have recently joined the program, which include the cities of
Raleigh, Clayton, and Westfield. As the municipal lease program continues to
attract new business, investors should begin to see the growth in the company’s
bottomline.
For more
information, visit www.spartacommercial.com
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