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4 Top Reddit Stocks To Watch As Robinhood (HOOD) Stock Breaks $80

HOOD stock gives retail traders a new focus in the stock market today.
The post 4 Top Reddit Stocks To Watch As Robinhood (HOOD) Stock Breaks $80 appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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Robinhood Stock Surged Another 60% Sparking More Attention On Retail Trading Trends

Penny stocks are a frequent focus of retail traders. And it looks like Robinhood IPO (NASDAQ: HOOD) has brought a bit more fuel to the fire. The latest public offering sparked controversy, mainly among the “Ape army,” whose apparent “sworn enemy” become available for trading last week. This latest IPO was one of the more disappointing ones this year. Shares of HOOD stock opened at $38, promptly reached highs of $40.25, and then slid to lows of $33.25 the following day. That’s where the sad story ends, and the turnaround story begins.

Love it or hate it, the app has opened doors for millions of new traders over the last few years. If you look at some of the brokerage growth statistics from 2020, Robinhood was among the fastest-growing platforms for new traders. Now that shares of the platform are publicly traded, investors have an opportunity to own a piece of this growth.

Clearly, the sentiment has gone from negative to positive, and the “revenge trade” has become a major focus of retail traders this week. HOOD stock has now managed a rally of more than 130% since the start of the week. What some of the “Ape community” had hoped for is now the exact opposite and may have even converted some of them into Robinhood supporters (at least in the stock market today).

Top Reddit Stocks To Watch

This year has been a big year for “sympathy” momentum. For those unfamiliar, this is where we see stocks breakout without any apparent catalyst. But another company with similar traits and momentum sparks intrigue to find “the next one.” Whether it’s been meme stocks, short-squeeze stocks, COVID stocks, cannabis stocks, and the like, sympathy sentiment is a driver that isn’t ignored. Today, HOOD stock seems to have made its presence known, and now the hoards of Reddit retail traders are on the hunt for more. In this article, we’ll take a look at a few former penny stocks that’ve now begun climbing after the latest HOOD stock IPO:

  1. GT Biopharma Inc. (NASDAQ: GTBP)
  2. Bit Digital Inc. (NASDAQ: BTBT)
  3. BeyondSpring Inc. (NASDAQ: BYSI)
  4. Lending Club Corp. (NYSE: LC)

GT Biopharma Inc. (NASDAQ: GTBP)

This week GT Biopharma turned some heads after reporting positive results for one of its cancer treatments. In particular, its GTB-3550 (“B7H3 TriKE”) showed effectiveness in promoting cancer cell killing in various indications. The next step is to file an Investigational New Drug Application with the FDA for evaluation in humans. This wasn’t an anomaly either.

Previous studies combined with other drugs like Fate Therapeutics’ (NASDAQ: FATE) FT538 iNK cells. In published results from November, FT538 iNK cells targeted tumor cells in prostate cancer. Researchers of the study said that “the combination of B7H3 TriKE with an off-the-shelf NK cell therapy presents an appealing therapeutic strategy for the treatment of solid tumors with decreased risk of toxicity in allogeneic settings compared to T-cell derived products.”

When asked for further color on the data earlier this year, GT Biopharma’s CEO, Anthony Cataldo, told PennyStocks.com, “GT Biopharma’s TriKE technology is a clear breakthrough in cancer treatment. Not only has it shown early success in hematologic diseases like acute myeloid leukemia, but the potential also demonstrated in combination with Fate’s FT538 iPSC NK cells opens up endless possibilities for the application of TriKE combination treatment in other potential drug therapy platforms targeting things like IL-15.”

Thanks to more attention on cancer stocks recently, GTBP stock has seen a rebound in the market. Shares have bounced back from lows of $9.74 last week to highs of over $11 this week. Companies like Merck (NYSE: MRK), Novartis (NYSE: NVS), and Bristol-Myers Squibb (NYSE: BMY) have all released new details on their related cancer pipelines that’ve brought new interest in this part of the biotech industry this month. Given that the GT Biopharma pipeline includes candidates with upcoming data expected, it has been on the list of former penny stocks to watch.

Bit Digital Inc. (NASDAQ: BTBT)

A rebound in cryptocurrency, including Bitcoin and Ethereum, has related companies in the spotlight this week. Bit Digital is among the names of former penny stocks to watch. The company was one we first discussed late in July. At the time, Bit Digital’s news of a planned Bitcoin mining expansion with Digihost acted as the initial catalyst. The two will operate a 100 MW Bitcoin mining system for an initial 2-year term.

[Read More] Best Biotech Penny Stocks For Your Small-Caps Watchlist Right Now

Since then, a mix of speculation and crypto market momentum has helped carry BTBT stock much higher. In fact, since our July 26th update, shares have climbed from under $5 to over $12 this week. Traders also seem to be recirculating that last update, fixated on comments from CEO Bryan Bullett:

As previously announced, we anticipate significant purchase activity in the coming months, due to spot market dislocation in China and our unique access to that market. This agreement with Digihost secures a key component of activating this opportunity, and is expected to enable rapid deployment of newly purchased miners.

One of the things to keep in mind is that no matter how strong the momentum for Bitcoin stocks, the underlying trend in the cryptocurrency’s price tends to direct the market. We’ve seen big breakouts and quick breakdowns thanks to crypto volatility. So make sure to have that in the back of your head if BTBT stock is on your list right now.

top reddit stocks to watch hood stock Bit Digital Inc. BTBT stock chart

BeyondSpring Inc. (NASDAQ: BYSI)

Another cancer treatment stock to watch this week is BeyondSpring. While the massive momentum seen during Wednesday’s premarket session settled down after the open, BYSI stock remains active. While it isn’t necessarily one of the penny stocks of the past, it has made a similar move that we’ve become very familiar with, especially with cheaper stocks. In this case, BYSI closed August 3rd’s session at $9.63, and by the pre-market session on the 4th, it had reached a high of $46.60.

Why is BYSI stock up today? It has everything to do with the latest news released on Wednesday. The company announced positive topline results from its DUBLIN-3 registrations trial. This was of its plinabulin combined with docetaxel in treating non-small cell lung cancer. The study met primary and key secondary endpoints showing “statistically significant improvements” in survival.

“A pre-NDA meeting will be scheduled with the FDA in 2021 to agree on the contents for our NDA, to support a NSCLC indication NDA submission in the first half of 2022. This will be the second indication and second NDA for plinabulin. The superior benefit of plinabulin in reducing severe neutropenia of docetaxel in DUBLIN -3 further supports our first NDA submission in CIN prevention, which received FDA priority review with a PDUFA date of November 30, 2021.”

Dr. Lan Huang , BeyondSpring’s co-founder, CEO and Chairwoman

Now the clock starts ticking. While November may seem far away, it’s only just a few months. Given the early reaction in the stock market today, BYSI stock has found itself on plenty of watch lists heading into the second half of the year.

top reddit stocks to watch hood stock BeyondSpring Inc. BYSI stock chart

Lending Club Corp. (NYSE: LC)

Believe it or not, less than a year ago, Lending Club Corp. was considered a penny stock. Shares traded as low as $4.32, and trading volume was much lower in comparison to where it’s at right now. A strong string of earnings reports helped spark the initial rally in the stock. Post pandemic needs for capital have also been a factor.

Last month, LC stock saw one of its biggest 1-day jumps thanks to strong Q2 earnings that sparked a flurry of analyst upgrades. The company beat estimates by a mile, with EPS coming in at 9 cents. Estimates pegged the company reporting a loss per share of $0.43. Sales also beat by a wide margin coming in at over $200 million compared to estimates of just $134.55 million. Revenue guidance for Q3 was also raised. Wedbush, Credit Suisse, and Janney were among analysts raising targets and valuations on the company.

[Read More] Hot Biotech Stocks To Watch After Sanofi’s Acquisition Of Translate Bio

Comments from Scott Sanborn, LendingClub’s CEO, also helped lift sentiment. “This is the beginning of a dramatically enhanced earnings trajectory for the business,” Sanborn said. “Our transformation is fueled by our competitive advantages, which include our 3.5 million-plus members, deep data capabilities, marketplace model, as well as our more efficient operating platform. Our earnings are being bolstered by our bank, which is generating a new stream of recurring net interest income that is only beginning to contribute to our bottom-line results.”

top reddit stocks to watch hood stock Lending Club Corp. LC stock chart

Are Reddit Penny Stocks & Former Penny Stocks On Your List?

Whether HOOD stock or Reddit have played a role in your decision-making, retail sentiment is clearly bullish right now. Not only have small-cap stocks gained a bit more ground this week, so have a wide range of names that’ve become popular on mainstream social media outlets. Trends ranging from cancer treatment to Bitcoin mining are becoming a point of interest, so now may be a time to start putting together a new list of stocks to watch in light of this surge in market action.

penny stocks on reddit

Pursuant to an agreement between Midam Ventures LLC and GT Biopharma (GTBP) Midam has been paid $150,000 for a period from March 1, 2021, to April 1, 2021. This compensation is payment 1 of 12 as part of a 12-month agreement between Midam Ventures LLC & GT Biopharma (GTBP), for a period from March 1, 2021, to February 28, 2022. Midam Ventures LLC expects to be paid $150,000 per month for a total of 12 months by GT Biopharma (GTBP). Midam has been paid an additional $150,000 for a period from April 2, 2021, to May 1, 2021. This compensation is payment 2 of 12 as part of the Agreement. Midam has been paid an additional $150,000 for a period from May 2, 2021, to June 1, 2021. This compensation is payment 3 of 12 as part of the Agreement. Midam has been paid an additional $150,000 for a period from June 2, 2021, to July 1, 2021. This compensation is payment 4 of 12 as part of the Agreement. Midam has been paid an additional $200,000 for a period from July 2, 2021, to July 29, 2021. This compensation is payment 5 of 12 as part of the Agreement. Midam has been paid an additional $200,000 for a period from July 29, 2021, to September 2, 2021. This compensation is payment 6 of 12 as part of the Agreement. We may buy or sell additional shares of GT Biopharma (GTBP) in the open market at any time, including before, during, or after the Website and Information, to provide public dissemination of favorable Information about GT Biopharma (GTBP). Click here for full disclaimer.

The post 4 Top Reddit Stocks To Watch As Robinhood (HOOD) Stock Breaks $80 appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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Government

Survey Shows Declining Concerns Among Americans About COVID-19

Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat"…

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Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat" to the health of the US population - a sharp decline from a high of 67% in July 2020.

(SARMDY/Shutterstock)

What's more, the Pew Research Center survey conducted from Feb. 7 to Feb. 11 showed that just 10% of Americans are concerned that they will  catch the disease and require hospitalization.

"This data represents a low ebb of public concern about the virus that reached its height in the summer and fall of 2020, when as many as two-thirds of Americans viewed COVID-19 as a major threat to public health," reads the report, which was published March 7.

According to the survey, half of the participants understand the significance of researchers and healthcare providers in understanding and treating long COVID - however 27% of participants consider this issue less important, while 22% of Americans are unaware of long COVID.

What's more, while Democrats were far more worried than Republicans in the past, that gap has narrowed significantly.

"In the pandemic’s first year, Democrats were routinely about 40 points more likely than Republicans to view the coronavirus as a major threat to the health of the U.S. population. This gap has waned as overall levels of concern have fallen," reads the report.

More via the Epoch Times;

The survey found that three in ten Democrats under 50 have received an updated COVID-19 vaccine, compared with 66 percent of Democrats ages 65 and older.

Moreover, 66 percent of Democrats ages 65 and older have received the updated COVID-19 vaccine, while only 24 percent of Republicans ages 65 and older have done so.

“This 42-point partisan gap is much wider now than at other points since the start of the outbreak. For instance, in August 2021, 93 percent of older Democrats and 78 percent of older Republicans said they had received all the shots needed to be fully vaccinated (a 15-point gap),” it noted.

COVID-19 No Longer an Emergency

The U.S. Centers for Disease Control and Prevention (CDC) recently issued its updated recommendations for the virus, which no longer require people to stay home for five days after testing positive for COVID-19.

The updated guidance recommends that people who contracted a respiratory virus stay home, and they can resume normal activities when their symptoms improve overall and their fever subsides for 24 hours without medication.

“We still must use the commonsense solutions we know work to protect ourselves and others from serious illness from respiratory viruses, this includes vaccination, treatment, and staying home when we get sick,” CDC director Dr. Mandy Cohen said in a statement.

The CDC said that while the virus remains a threat, it is now less likely to cause severe illness because of widespread immunity and improved tools to prevent and treat the disease.

Importantly, states and countries that have already adjusted recommended isolation times have not seen increased hospitalizations or deaths related to COVID-19,” it stated.

The federal government suspended its free at-home COVID-19 test program on March 8, according to a website set up by the government, following a decrease in COVID-19-related hospitalizations.

According to the CDC, hospitalization rates for COVID-19 and influenza diseases remain “elevated” but are decreasing in some parts of the United States.

Tyler Durden Sun, 03/10/2024 - 22:45

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International

Rand Paul Teases Senate GOP Leader Run – Musk Says “I Would Support”

Rand Paul Teases Senate GOP Leader Run – Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump…

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Rand Paul Teases Senate GOP Leader Run - Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump into the race to become the next Senate GOP leader, and Elon Musk was quick to support the idea. Republicans must find a successor for periodically malfunctioning Mitch McConnell, who recently announced he'll step down in November, though intending to keep his Senate seat until his term ends in January 2027, when he'd be within weeks of turning 86. 

So far, the announced field consists of two quintessential establishment types: John Cornyn of Texas and John Thune of South Dakota. While John Barrasso's name had been thrown around as one of "The Three Johns" considered top contenders, the Wyoming senator on Tuesday said he'll instead seek the number two slot as party whip. 

Paul used X to tease his potential bid for the position which -- if the GOP takes back the upper chamber in November -- could graduate from Minority Leader to Majority Leader. He started by telling his 5.1 million followers he'd had lots of people asking him about his interest in running...

...then followed up with a poll in which he predictably annihilated Cornyn and Thune, taking a 96% share as of Friday night, with the other two below 2% each. 

Elon Musk was quick to back the idea of Paul as GOP leader, while daring Cornyn and Thune to follow Paul's lead by throwing their names out for consideration by the Twitter-verse X-verse. 

Paul has been a stalwart opponent of security-state mass surveillance, foreign interventionism -- to include shoveling billions of dollars into the proxy war in Ukraine -- and out-of-control spending in general. He demonstrated the latter passion on the Senate floor this week as he ridiculed the latest kick-the-can spending package:   

In February, Paul used Senate rules to force his colleagues into a grueling Super Bowl weekend of votes, as he worked to derail a $95 billion foreign aid bill. "I think we should stay here as long as it takes,” said Paul. “If it takes a week or a month, I’ll force them to stay here to discuss why they think the border of Ukraine is more important than the US border.”

Don't expect a Majority Leader Paul to ditch the filibuster -- he's been a hardy user of the legislative delay tactic. In 2013, he spoke for 13 hours to fight the nomination of John Brennan as CIA director. In 2015, he orated for 10-and-a-half-hours to oppose extension of the Patriot Act

Rand Paul amid his 10 1/2 hour filibuster in 2015

Among the general public, Paul is probably best known as Capitol Hill's chief tormentor of Dr. Anthony Fauci, who was director of the National Institute of Allergy and Infectious Disease during the Covid-19 pandemic. Paul says the evidence indicates the virus emerged from China's Wuhan Institute of Virology. He's accused Fauci and other members of the US government public health apparatus of evading questions about their funding of the Chinese lab's "gain of function" research, which takes natural viruses and morphs them into something more dangerous. Paul has pointedly said that Fauci committed perjury in congressional hearings and that he belongs in jail "without question."   

Musk is neither the only nor the first noteworthy figure to back Paul for party leader. Just hours after McConnell announced his upcoming step-down from leadership, independent 2024 presidential candidate Robert F. Kennedy, Jr voiced his support: 

In a testament to the extent to which the establishment recoils at the libertarian-minded Paul, mainstream media outlets -- which have been quick to report on other developments in the majority leader race -- pretended not to notice that Paul had signaled his interest in the job. More than 24 hours after Paul's test-the-waters tweet-fest began, not a single major outlet had brought it to the attention of their audience. 

That may be his strongest endorsement yet. 

Tyler Durden Sun, 03/10/2024 - 20:25

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Government

The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While “Waiting” For Deporation, Asylum

The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While "Waiting" For Deporation, Asylum

Over the past several…

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The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While "Waiting" For Deporation, Asylum

Over the past several months we've pointed out that there has  been zero job creation for native-born workers since the summer of 2018...

... and that since Joe Biden was sworn into office, most of the post-pandemic job gains the administration continuously brags about have gone foreign-born (read immigrants, mostly illegal ones) workers.

And while the left might find this data almost as verboten as FBI crime statistics - as it directly supports the so-called "great replacement theory" we're not supposed to discuss - it also coincides with record numbers of illegal crossings into the United States under Biden.

In short, the Biden administration opened the floodgates, 10 million illegal immigrants poured into the country, and most of the post-pandemic "jobs recovery" went to foreign-born workers, of which illegal immigrants represent the largest chunk.

Asylum seekers from Venezuela await work permits on June 28, 2023 (via the Chicago Tribune)

'But Tyler, illegal immigrants can't possibly work in the United States whilst awaiting their asylum hearings,' one might hear from the peanut gallery. On the contrary: ever since Biden reversed a key aspect of Trump's labor policies, all illegal immigrants - even those awaiting deportation proceedings - have been given carte blanche to work while awaiting said proceedings for up to five years...

... something which even Elon Musk was shocked to learn.

Which leads us to another question: recall that the primary concern for the Biden admin for much of 2022 and 2023 was soaring prices, i.e., relentless inflation in general, and rising wages in particular, which in turn prompted even Goldman to admit two years ago that the diabolical wage-price spiral had been unleashed in the US (diabolical, because nothing absent a major economic shock, read recession or depression, can short-circuit it once it is in place).

Well, there is one other thing that can break the wage-price spiral loop: a flood of ultra-cheap illegal immigrant workers. But don't take our word for it: here is Fed Chair Jerome Powell himself during his February 60 Minutes interview:

PELLEY: Why was immigration important?

POWELL: Because, you know, immigrants come in, and they tend to work at a rate that is at or above that for non-immigrants. Immigrants who come to the country tend to be in the workforce at a slightly higher level than native Americans do. But that's largely because of the age difference. They tend to skew younger.

PELLEY: Why is immigration so important to the economy?

POWELL: Well, first of all, immigration policy is not the Fed's job. The immigration policy of the United States is really important and really much under discussion right now, and that's none of our business. We don't set immigration policy. We don't comment on it.

I will say, over time, though, the U.S. economy has benefited from immigration. And, frankly, just in the last, year a big part of the story of the labor market coming back into better balance is immigration returning to levels that were more typical of the pre-pandemic era.

PELLEY: The country needed the workers.

POWELL: It did. And so, that's what's been happening.

Translation: Immigrants work hard, and Americans are lazy. But much more importantly, since illegal immigrants will work for any pay, and since Biden's Department of Homeland Security, via its Citizenship and Immigration Services Agency, has made it so illegal immigrants can work in the US perfectly legally for up to 5 years (if not more), one can argue that the flood of illegals through the southern border has been the primary reason why inflation - or rather mostly wage inflation, that all too critical component of the wage-price spiral  - has moderated in in the past year, when the US labor market suddenly found itself flooded with millions of perfectly eligible workers, who just also happen to be illegal immigrants and thus have zero wage bargaining options.

None of this is to suggest that the relentless flood of immigrants into the US is not also driven by voting and census concerns - something Elon Musk has been pounding the table on in recent weeks, and has gone so far to call it "the biggest corruption of American democracy in the 21st century", but in retrospect, one can also argue that the only modest success the Biden admin has had in the past year - namely bringing inflation down from a torrid 9% annual rate to "only" 3% - has also been due to the millions of illegals he's imported into the country.

We would be remiss if we didn't also note that this so often carries catastrophic short-term consequences for the social fabric of the country (the Laken Riley fiasco being only the latest example), not to mention the far more dire long-term consequences for the future of the US - chief among them the trillions of dollars in debt the US will need to incur to pay for all those new illegal immigrants Democrat voters and low-paid workers. This is on top of the labor revolution that will kick in once AI leads to mass layoffs among high-paying, white-collar jobs, after which all those newly laid off native-born workers hoping to trade down to lower paying (if available) jobs will discover that hardened criminals from Honduras or Guatemala have already taken them, all thanks to Joe Biden.

Tyler Durden Sun, 03/10/2024 - 19:15

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