This Cheap Stock Could Double Your Summer Fun

GigaMedia (GIGM) was a nearly $100 stock at its IPO in February 2000. The stock promptly sunk to a few dollars and became a tech stock cliché.

It wasn't until 2006 when the company sold off underperforming ventures and lasered in on online gaming that the company really started to explode. It started with a popular game called MahJong and built an empire that now includes a number of card and strategy games as well as gaming software products.

But, it's really the behind-the-scenes work that GIGM does that pays the bills.

If you want to start up an online gaming or gambling site, you need GigaMedia. You'll need online gaming software to be able to monitor end-user behavior and make money off the traffic that's coming to your site. Of course you'll want your games to work in multiple operating systems, be realistic looking and be able to work in multiple languages. That's where GigaMedia comes in.

Gaming in general has taken off in the last few years, and online gaming and gambling is literally growing every day. According to a study by Merrill Lynch, by the year 2015, the online gambling industry is set to grow to a $528 billion a year industry. This would make it the largest ecommerce industry online. Today the industry brings in about $12 billion a year.

This growth potential is huge, but we don't want to wait for 2015 to cash in our chips. So what do GigaMedia's numbers look like now, and what can we expect from this leader in online gaming software?

Giga's Flop Is Your Gain

This may be the perfect time to buy this cheap stock…