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AMC Continues to Pop (+20% today)- Best 3 Reddit Stocks To Watch

AMC stock surge triggers momentum for 3 Reddit penny stocks
The post Best Penny Stocks To Buy Now? 3 Reddit Stocks To Watch After AMC Pop appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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This article was originally published by PennyStocks.

3 Penny Stocks to Watch After the Most Recent AMC Breakout

As we end May with penny stocks, another month is on the horizon. Right now, there is a lot of bullish momentum on the entire list of penny stocks to buy. However, just because certain penny stocks are gaining momentum, does not mean that they are worth investing in. To figure that out, investors need to take a few first steps. The most important of these is research. Any penny stock that you want to invest in, should be one that you know quite a lot about. 

With investing in penny stocks, or reddit penny stocks for that matter, information will always be your best advantage. Second, investors need to look at price targets, analyst information, and the past performance of the company. This is a great indicator to see what the sentiment around a company is for the present and the near future. Lastly, investors should understand what outside influences could affect the company in the coming months. 

[Read More] Top Reopening Penny Stocks to Watch in May 2021

This includes if any news is being announced either specific to the company or the industry. And, is the company releasing any new products or building out its business model? Both of these are also extremely important because penny stocks tend to be highly speculative. This means that they move based on news and news alone.

And right now, that news includes everything from Covid related events, to Reddit penny stocks like AMC Entertainment Holdings Inc. (NYSE: AMC). These are just a few events occurring right now, but the news is worth considering. Keeping all of this in mind, let’s take a look at three penny stocks to watch in the first week of June. 

3 Penny Stocks to Watch in June 2021

  1. Orbital Energy Group Inc. (NASDAQ: OEG
  2. ARC Document Solutions Inc. (NYSE: ARC
  3. Iterum Therapeutics PLC. (NASDAQ: ITRM)

Orbital Energy Group Inc. (NASDAQ: OEG)

Orbital Energy Group Inc. is an energy penny stock that provides electric power, solar infrastructure, and integrated energy solutions. It also engages in the offerings of engineering, procurement, and construction services to support the products that it offers. Along with this, it will design, install, upgrade, and repair its electric power transmission and distribution infrastructure, creating a lasting business model through and through.

Orbital’s last update was on May 17th, when the company released its first-quarter 2021 financial results. Included here was a revenue increase of 67% year over year to $9.5 million. Its operating loss was higher which is to be expected. This larger operating loss is due to higher SG&A expenses associated with Orbital Solar and start-up costs for Eclipse Foundation Group.

“Looking ahead, we will continue to pursue strategic acquisitions, targeting well-established service providers to the electric power and telecommunications infrastructure markets, while also driving organic growth from our existing operations. By following this course, we believe we are on a clear path to profitability while building increasing value for our shareholders.”

The vice-chairman and CEO of Orbital Jim O’Neil

OEG stock is up more than 4.7% in the market as of May 28th. So considering all of this will OEG be on your list of penny stocks to watch?

Penny_Stocks_to_Watch_Orbital Energy Group Inc. (OEG Stock Chart)

ARC Document Solutions Inc. (NYSE: ARC)

While you may not have heard of ARC Document Solutions, the company has made some big headlines in the past few weeks. Before we get into it, let’s discuss what ARC stock does. ARC Document Solutions provides document distribution and graphic production services. These services are used across multiple industries including design, marketing, real estate, construction, and more. 

[Read More] Penny Stocks And Cryptocurrency, Which Small-Caps Should You Watch?

Recently it announced its financial results for the first quarter of 2021. Suri Suriyakumar, CEO and President of ARC stated that “the company remained resilient and responsive throughout the first quarter as demonstrated by our EBITDA and cash generation performance, and we’ve established out momentum after a challenging quarter of sales. The growing diversity of our market continues to provide us with new opportunities to expand our customer base.” 

During the quarter, ARC brought in net sales of around $61.7 million. While this is a decrease over Q1 2020, ARC still ended the quarter with roughly $50 million in cash on hand. The decrease is primarily due to Covid, and the company anticipates growth to pick back up again as time goes on. Considering all of this, will it be on your penny stocks watchlist?

Penny_Stocks_to_Watch_ARC Document Solutions Inc. (ARC Stock Chart)

Iterum Therapeutics PLC. (NASDAQ: ITRM) 

Up by almost 18% on Friday before Memorial Day, Iterum Therapeutics is seeing solid bullish sentiment. The main reason behind its big gain is the conclusion of a late-cycle meeting with the FDA regarding its compound sulopenem. This is a treatment for urinary tract infections in those with quinolone non-susceptible pathogens. 

Prior, the company was waiting on an advisory committee meeting with the FDA. However, the agency states that it is no longer necessary, and will have a plan of action by July 25th. This is a big deal for both ITRM and investors alike. Obviously, there is still a long way to go before sulopenem can be approved by the FDA. 

But, big milestones like this always lead to high volume with a given biotech company. And, we have continuously seen positive momentum with Iterum in the months that we’ve been covering it. Outside of this, Iterum works on other oral and IV antibiotics used to treat drug-resistant pathogens. These drugs can be used in either hospital or non-hospital settings. 

Iterum sees a major challenge with the current state of serious and life-threatening infections. And, with the overprescription of antibiotics only aiding this, ITRM is working hard to find an alternative. Because of this, investors could look at Iterum for both its short and long-term potential. But in the end, it’s up to you. So, does ITRM stock belong on your watchlist?

Penny_Stocks_to_Watch_Iterum Therapeutics PLC. (ITRM Stock Chart)

Which Penny Stocks Are On Your Watchlist?

Finding the best penny stocks to watch can be challenging. But, with the right research in hand a commitment to educating yourself about how to invest, it can be much easier. In 2021, there are plenty of things that are affecting the stock market. 

[Read More] 4 Cheap Penny Stocks To Buy For Under $1 On Robinhood & Webull

This includes the pandemic, the ups and downs of cryptocurrency and blockchain penny stocks, the rise of AMC stock and more. However, these highly speculative occurrences can be used as an advantage for those who know-how. Considering all of this, which penny stocks are on your watchlist?

The post Best Penny Stocks To Buy Now? 3 Reddit Stocks To Watch After AMC Pop appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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Illegal Immigrants Leave US Hospitals With Billions In Unpaid Bills

Illegal Immigrants Leave US Hospitals With Billions In Unpaid Bills

By Autumn Spredemann of The Epoch Times

Tens of thousands of illegal…

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Illegal Immigrants Leave US Hospitals With Billions In Unpaid Bills

By Autumn Spredemann of The Epoch Times

Tens of thousands of illegal immigrants are flooding into U.S. hospitals for treatment and leaving billions in uncompensated health care costs in their wake.

The House Committee on Homeland Security recently released a report illustrating that from the estimated $451 billion in annual costs stemming from the U.S. border crisis, a significant portion is going to health care for illegal immigrants.

With the majority of the illegal immigrant population lacking any kind of medical insurance, hospitals and government welfare programs such as Medicaid are feeling the weight of these unanticipated costs.

Apprehensions of illegal immigrants at the U.S. border have jumped 48 percent since the record in fiscal year 2021 and nearly tripled since fiscal year 2019, according to Customs and Border Protection data.

Last year broke a new record high for illegal border crossings, surpassing more than 3.2 million apprehensions.

And with that sea of humanity comes the need for health care and, in most cases, the inability to pay for it.

In January, CEO of Denver Health Donna Lynne told reporters that 8,000 illegal immigrants made roughly 20,000 visits to the city’s health system in 2023.

The total bill for uncompensated care costs last year to the system totaled $140 million, said Dane Roper, public information officer for Denver Health. More than $10 million of it was attributed to “care for new immigrants,” he told The Epoch Times.

Though the amount of debt assigned to illegal immigrants is a fraction of the total, uncompensated care costs in the Denver Health system have risen dramatically over the past few years.

The total uncompensated costs in 2020 came to $60 million, Mr. Roper said. In 2022, the number doubled, hitting $120 million.

He also said their city hospitals are treating issues such as “respiratory illnesses, GI [gastro-intenstinal] illnesses, dental disease, and some common chronic illnesses such as asthma and diabetes.”

“The perspective we’ve been trying to emphasize all along is that providing healthcare services for an influx of new immigrants who are unable to pay for their care is adding additional strain to an already significant uncompensated care burden,” Mr. Roper said.

He added this is why a local, state, and federal response to the needs of the new illegal immigrant population is “so important.”

Colorado is far from the only state struggling with a trail of unpaid hospital bills.

EMS medics with the Houston Fire Department transport a Mexican woman the hospital in Houston on Aug. 12, 2020. (John Moore/Getty Images)

Dr. Robert Trenschel, CEO of the Yuma Regional Medical Center situated on the Arizona–Mexico border, said on average, illegal immigrants cost up to three times more in human resources to resolve their cases and provide a safe discharge.

“Some [illegal] migrants come with minor ailments, but many of them come in with significant disease,” Dr. Trenschel said during a congressional hearing last year.

“We’ve had migrant patients on dialysis, cardiac catheterization, and in need of heart surgery. Many are very sick.”

He said many illegal immigrants who enter the country and need medical assistance end up staying in the ICU ward for 60 days or more.

A large portion of the patients are pregnant women who’ve had little to no prenatal treatment. This has resulted in an increase in babies being born that require neonatal care for 30 days or longer.

Dr. Trenschel told The Epoch Times last year that illegal immigrants were overrunning healthcare services in his town, leaving the hospital with $26 million in unpaid medical bills in just 12 months.

ER Duty to Care

The Emergency Medical Treatment and Labor Act of 1986 requires that public hospitals participating in Medicare “must medically screen all persons seeking emergency care … regardless of payment method or insurance status.”

The numbers are difficult to gauge as the policy position of the Centers for Medicare & Medicaid Services (CMS) is that it “will not require hospital staff to ask patients directly about their citizenship or immigration status.”

In southern California, again close to the border with Mexico, some hospitals are struggling with an influx of illegal immigrants.

American patients are enduring longer wait times for doctor appointments due to a nursing shortage in the state, two health care professionals told The Epoch Times in January.

A health care worker at a hospital in Southern California, who asked not to be named for fear of losing her job, told The Epoch Times that “the entire health care system is just being bombarded” by a steady stream of illegal immigrants.

“Our healthcare system is so overwhelmed, and then add on top of that tuberculosis, COVID-19, and other diseases from all over the world,” she said.

A Salvadorian man is aided by medical workers after cutting his leg while trying to jump on a truck in Matias Romero, Mexico, on Nov. 2, 2018. (Spencer Platt/Getty Images)

A newly-enacted law in California provides free healthcare for all illegal immigrants residing in the state. The law could cost taxpayers between $3 billion and $6 billion per year, according to recent estimates by state and federal lawmakers.

In New York, where the illegal immigration crisis has manifested most notably beyond the southern border, city and state officials have long been accommodating of illegal immigrants’ healthcare costs.

Since June 2014, when then-mayor Bill de Blasio set up The Task Force on Immigrant Health Care Access, New York City has worked to expand avenues for illegal immigrants to get free health care.

“New York City has a moral duty to ensure that all its residents have meaningful access to needed health care, regardless of their immigration status or ability to pay,” Mr. de Blasio stated in a 2015 report.

The report notes that in 2013, nearly 64 percent of illegal immigrants were uninsured. Since then, tens of thousands of illegal immigrants have settled in the city.

“The uninsured rate for undocumented immigrants is more than three times that of other noncitizens in New York City (20 percent) and more than six times greater than the uninsured rate for the rest of the city (10 percent),” the report states.

The report states that because healthcare providers don’t ask patients about documentation status, the task force lacks “data specific to undocumented patients.”

Some health care providers say a big part of the issue is that without a clear path to insurance or payment for non-emergency services, illegal immigrants are going to the hospital due to a lack of options.

“It’s insane, and it has been for years at this point,” Dana, a Texas emergency room nurse who asked to have her full name omitted, told The Epoch Times.

Working for a major hospital system in the greater Houston area, Dana has seen “a zillion” migrants pass through under her watch with “no end in sight.” She said many who are illegal immigrants arrive with treatable illnesses that require simple antibiotics. “Not a lot of GPs [general practitioners] will see you if you can’t pay and don’t have insurance.”

She said the “undocumented crowd” tends to arrive with a lot of the same conditions. Many find their way to Houston not long after crossing the southern border. Some of the common health issues Dana encounters include dehydration, unhealed fractures, respiratory illnesses, stomach ailments, and pregnancy-related concerns.

“This isn’t a new problem, it’s just worse now,” Dana said.

Emergency room nurses and EMTs tend to patients in hallways at the Houston Methodist The Woodlands Hospital in Houston on Aug. 18, 2021. (Brandon Bell/Getty Images)

Medicaid Factor

One of the main government healthcare resources illegal immigrants use is Medicaid.

All those who don’t qualify for regular Medicaid are eligible for Emergency Medicaid, regardless of immigration status. By doing this, the program helps pay for the cost of uncompensated care bills at qualifying hospitals.

However, some loopholes allow access to the regular Medicaid benefits. “Qualified noncitizens” who haven’t been granted legal status within five years still qualify if they’re listed as a refugee, an asylum seeker, or a Cuban or Haitian national.

Yet the lion’s share of Medicaid usage by illegal immigrants still comes through state-level benefits and emergency medical treatment.

A Congressional report highlighted data from the CMS, which showed total Medicaid costs for “emergency services for undocumented aliens” in fiscal year 2021 surpassed $7 billion, and totaled more than $5 billion in fiscal 2022.

Both years represent a significant spike from the $3 billion in fiscal 2020.

An employee working with Medicaid who asked to be referred to only as Jennifer out of concern for her job, told The Epoch Times that at a state level, it’s easy for an illegal immigrant to access the program benefits.

Jennifer said that when exceptions are sent from states to CMS for approval, “denial is actually super rare. It’s usually always approved.”

She also said it comes as no surprise that many of the states with the highest amount of Medicaid spending are sanctuary states, which tend to have policies and laws that shield illegal immigrants from federal immigration authorities.

Moreover, Jennifer said there are ways for states to get around CMS guidelines. “It’s not easy, but it can and has been done.”

The first generation of illegal immigrants who arrive to the United States tend to be healthy enough to pass any pre-screenings, but Jennifer has observed that the subsequent generations tend to be sicker and require more access to care. If a family is illegally present, they tend to use Emergency Medicaid or nothing at all.

The Epoch Times asked Medicaid Services to provide the most recent data for the total uncompensated care that hospitals have reported. The agency didn’t respond.

Continue reading over at The Epoch Times

Tyler Durden Fri, 03/15/2024 - 09:45

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Fast-food chain closes restaurants after Chapter 11 bankruptcy

Several major fast-food chains recently have struggled to keep restaurants open.

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Competition in the fast-food space has been brutal as operators deal with inflation, consumers who are worried about the economy and their jobs and, in recent months, the falling cost of eating at home. 

Add in that many fast-food chains took on more debt during the covid pandemic and that labor costs are rising, and you have a perfect storm of problems. 

It's a situation where Restaurant Brands International (QSR) has suffered as much as any company.  

Related: Wendy's menu drops a fan favorite item, adds something new

Three major Burger King franchise operators filed for bankruptcy in 2023, and the chain saw hundreds of stores close. It also saw multiple Popeyes franchisees move into bankruptcy, with dozens of locations closing.

RBI also stepped in and purchased one of its key franchisees.

"Carrols is the largest Burger King franchisee in the United States today, operating 1,022 Burger King restaurants in 23 states that generated approximately $1.8 billion of system sales during the 12 months ended Sept. 30, 2023," RBI said in a news release. Carrols also owns and operates 60 Popeyes restaurants in six states." 

The multichain company made the move after two of its large franchisees, Premier Kings and Meridian, saw multiple locations not purchased when they reached auction after Chapter 11 bankruptcy filings. In that case, RBI bought select locations but allowed others to close.

Burger King lost hundreds of restaurants in 2023.

Image source: Chen Jianli/Xinhua via Getty

Another fast-food chain faces bankruptcy problems

Bojangles may not be as big a name as Burger King or Popeye's, but it's a popular chain with more than 800 restaurants in eight states.

"Bojangles is a Carolina-born restaurant chain specializing in craveable Southern chicken, biscuits and tea made fresh daily from real recipes, and with a friendly smile," the chain says on its website. "Founded in 1977 as a single location in Charlotte, our beloved brand continues to grow nationwide."

Like RBI, Bojangles uses a franchise model, which makes it dependent on the financial health of its operators. The company ultimately saw all its Maryland locations close due to the financial situation of one of its franchisees.

Unlike. RBI, Bojangles is not public — it was taken private by Durational Capital Management LP and Jordan Co. in 2018 — which means the company does not disclose its financial information to the public. 

That makes it hard to know whether overall softness for the brand contributed to the chain seeing its five Maryland locations after a Chapter 11 bankruptcy filing.

Bojangles has a messy bankruptcy situation

Even though the locations still appear on the Bojangles website, they have been shuttered since late 2023. The locations were operated by Salim Kakakhail and Yavir Akbar Durranni. The partners operated under a variety of LLCs, including ABS Network, according to local news channel WUSA9

The station reported that the owners face a state investigation over complaints of wage theft and fraudulent W2s. In November Durranni and ABS Network filed for bankruptcy in New Jersey, WUSA9 reported.

"Not only do former employees say these men owe them money, WUSA9 learned the former owners owe the state, too, and have over $69,000 in back property taxes."

Former employees also say that the restaurant would regularly purchase fried chicken from Popeyes and Safeway when it ran out in their stores, the station reported. 

Bojangles sent the station a comment on the situation.

"The franchisee is no longer in the Bojangles system," the company said. "However, it is important to note in your coverage that franchisees are independent business owners who are licensed to operate a brand but have autonomy over many aspects of their business, including hiring employees and payroll responsibilities."

Kakakhail and Durranni did not respond to multiple requests for comment from WUSA9.

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Industrial Production Increased 0.1% in February

From the Fed: Industrial Production and Capacity Utilization
Industrial production edged up 0.1 percent in February after declining 0.5 percent in January. In February, the output of manufacturing rose 0.8 percent and the index for mining climbed 2.2 p…

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From the Fed: Industrial Production and Capacity Utilization
Industrial production edged up 0.1 percent in February after declining 0.5 percent in January. In February, the output of manufacturing rose 0.8 percent and the index for mining climbed 2.2 percent. Both gains partly reflected recoveries from weather-related declines in January. The index for utilities fell 7.5 percent in February because of warmer-than-typical temperatures. At 102.3 percent of its 2017 average, total industrial production in February was 0.2 percent below its year-earlier level. Capacity utilization for the industrial sector remained at 78.3 percent in February, a rate that is 1.3 percentage points below its long-run (1972–2023) average.
emphasis added
Click on graph for larger image.

This graph shows Capacity Utilization. This series is up from the record low set in April 2020, and above the level in February 2020 (pre-pandemic).

Capacity utilization at 78.3% is 1.3% below the average from 1972 to 2022.  This was below consensus expectations.

Note: y-axis doesn't start at zero to better show the change.


Industrial Production The second graph shows industrial production since 1967.

Industrial production increased to 102.3. This is above the pre-pandemic level.

Industrial production was above consensus expectations.

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