Sports Supplement Acquisition Group Inc (OTCMKTS:SRSP) Destined To Spike Higher

Shares of Sports Supplement Acquisition Group Inc (OTCMKTS:SRSP) are spiking higher as the company ramps up efforts in pursuit of revenue opportunities in the ride-sharing business. Investors appear to be taking note of the fact that the company is aggressively growing its user base, as it looks to get a piece of the $22.5 billion marketplace.Stock Performance Over the past one month, the stock has spiked from $0.018 to $0.17, an indication that Sports Supplement Acquisition is emerging as a key player in the high growth industry. The chart shows that the stock has the potential to surge even higher after pulling back to the $0.12 handle. SRSP Daily ChartThe stock is currently trading in a strong uptrend and the recent pullback could be a minor correction, pending a big move on the upside. Immediate resistance on any movement upwards is at the $0.17 mark, above which Sports Supplement Acquisition could rise to its 52-week high of $0.30.The stock is currently trading above its major moving averages, an indication that it is set to continue rising, heading into the New Year.Before we look at the catalysts, likely to push the stock higher, let as look at what makes the company tick.Sports Supplement AcquisitionSports Supplement Acquisition was formerly focused on the production and distribution of sports supplement technology. However, in the recent past, it has expanded its footprint into the ride-sharing business with CarSmartt.Located in Palo Alto CA, CarSmartt offers a ride-sharing services with the aim of making long distance traveling safe and affordable. Signed up members can choose to share a ride or ship a package. The service is currently available in the U.S and Italy, with plans already underway to make it available in more countries.Renewed investor interest in Sports Supplement Acquisition builds on the belief that the likes of Uber and Lyft have already cleared the barriers that could have stifled growth. The likes of CarSmartt remain well positioned to leverage tested strategies on issues like driver background checking, passenger safety and vehicle standards allowing them to enjoy accelerated growth.China is one of the fastest growing ride-sharing marketplaces in the world which suggest more room for Sports Supplement Acquisition global expansion plan. The company is also looking into Latin America markets as areas where it can expand its business.

“The Company has now started a marketing campaign for the Colombia rideshare community. Latin America is one of the fastest growing markets in the world and CarSmartt is committed to grow its users and give a better service for city to city destinations with background check for people and parcels shipping” said Roy Capasso President CarSmartt.

Sports Supplement Group has also inked an agreement with U-PIC to provide CarSmartt users the ability to ship parcels through the ride-sharing program. The shipping insurance company is to insure up to $1, 000 per parcel. The agreement paves way for the ride-sharing company to flex its muscles in the $300 billion parcel shipping business.Cryptocurrency Push The ride-sharing business is not the only thing that has helped propel Sports Supplement Acquisition to the spotlight on Wall Street. The company has also set its eyes on the booming cryptocurrency space as it looks to generate more shareholder value.CarSmartt has entered into a purchase and supply agreement for the acquisition of equipment that will help the company venture into the business of mining digital currencies. The company is to purchase 25 Antminer S9 servers and 8 AMD RX 58 graphics card mining Rigs.The servers are to support both the internal mining for CarSmartt as well as a new Coinsmart token. They are also expected to provide income-producing revenues in the bitcoin space.The company has also entered into a binding agreement with Crypto Realm LLC, which is to facilitate an Initial Coin Offering. Crypto Realm LLC is to create COINSMARTT, a cryptocurrency, as well as a currency mining facility on behalf of CarSmartt.CarSmartt app users will be able to use the cryptocurrency to pay for ride-sharing services. Drivers who receive COINSMARTT for ride payment will be able to convert the coin into other Crypto Currency assets such as bitcoin Etherum or actual cash.Payments through the cryptocurrency should allow Sports Supplement Acquisition to realize substantial cost reduction in its CarSmartt payment platform. Bottom Line Sports Supplement Acquisition is at a critical point in its growth strategy. The company has been witnessing fast user growth of its ride-sharing service an indication of a growing market share in the industry.Ramping up efforts in the ride-sharing and parcel shipping business underscores the company’s long-term prospects in terms of revenue generation. The company looks highly promising especially given that it is a Silicon Valley startup. It could be a matter of time before a large investor gets involved in the stock, which could see it price spike even higher.We will be updating our subscribers as soon as we know more. For the latest updates on SRSP, sign up below!Disclosure: We have no position in SRSP and have not been compensated for this article.