Whether you’re looking for your next big investment or want to find a quick hit of volatility, penny stocks are back in focus. Thanks to the stock market sell-off over the last few months, countless companies have come under pressure. As they say, pressure makes diamonds, and that has translated in the stock market in 2023.
Are Penny Stocks Worth It?
Take a look at companies like Carvana (NYSE: CVNA). It sold off until reaching sub-$4 levels. From the ashes rose the phoenix, with CVNA stock ripping to highs of over $50. You can also see this in other companies like popular meme stock GameStop (NYSE: GME). While it’s a far cry from its prices of over $400, it’s still trading significantly higher than where it was prior to the pandemic.
We actually discussed the company when it raised attention from Michael Burry at the time. In the article Penny Stocks To Buy Or Sell In September: GameStop (GME) we discussed the unusual action from The Big Short investor. Shares traded below $4 at the time, and unwitting investors would ultimately see it surge to record levels later on. GME stock presently sits around $13.
Penny Stocks To Buy Now
What are better known as “Household stocks,” are referred to as such because they’ve got well-known names and brands. While it isn’t always the trend that you find household names trading at penny stock levels, the goal is always the same: buy low, sell high, profit, repeat. In many cases, the names don’t matter as much as the stock market action or momentum.
However, if you’re someone looking to invest in penny stocks, then things like household stocks my bring more psychological confidence than anything else. Obviously, that doesn’t mean the beaten-down stocks won’t go lower. But if it’s a matter of putting a well-known company on your list of penny stocks versus a company that is a start-up, some will choose the name.
Needless to say, in this article, we’re looking at some of the most active penny stocks today, regardless of having a household name or not. We look at recent catalysts, news, and sentiment to help give insight into what’s happening in the stock market today for these companies. Once you see the info, you can decide if they’re worth adding to your penny stocks to watch list before next week.
Intrusion, Inc. (INTZ)
Intrusion, Inc. is a cybersecurity company from Plano, Texas. They specialize in preventing cyberattacks through a proprietary threat intelligence database. Their product, Intrusion Shield, is a Zero Trust, reputation-based security solution. It boasts a significant threat intelligence database, driving Intrusion Shield. It integrates with existing infrastructure to block malicious traffic and enhance overall cybersecurity posture.
This database includes data on over 8.5 billion IP addresses, with historical data, known associations, and behavioral patterns. The product, which was first launched commercially in 2021, is designed to prevent zero-day and ransomware attacks by observing traffic and instantly blocking suspicious connections. The company also plans to announce its financial results for the third quarter of 2023 on November 14, 2023, after the market closes. So if it’s on your list, keep that in mind later this month.
Investors will likely be scrutinizing the performance of Intrusion Shield to gauge its market acceptance and contribution to revenue. The effectiveness of the company’s solutions against the backdrop of a rapidly evolving cyber threat landscape could significantly influence investor sentiment as well.
Another positive that investors are hanging onto is the above-the-market offering the company announced this week. Heavy insider participation has also brought optimism to INTZ stock. “We are excited to announce that we have entered into an above-market price Securities Purchase Agreement through a Private Offering,” said Tony Scott, CEO of Intrusion. “The Offering also marks an important step for Intrusion as we continue to focus on ensuring we have the funds we need to propel our growth and focus on satisfying our customers’ needs with cost-effective cybersecurity solutions for their enterprise.”
Bakkt Holdings, Inc (BKKT)
Bakkt Holdings, Inc. is a company specializing in cryptocurrency services. They are expanding their global footprint and recently announced several international market entries. It is partnering with existing and new clients, focusing on Latin America, Europe, and Asia. In Latin America, Bakkt is collaborating with Hapi to enhance crypto trading in Mexico, Argentina, and soon Brazil. In Europe, Bakkt plans to launch in Spain and offer services in the UK and EU with 3.0verse.
For the Asia market, Bakkt’s partnership with 3.0verse will extend to Hong Kong and Singapore. The CEO, Gavin Michael, emphasized Bakkt’s regulatory compliance as a strength in their global expansion. Domestically, Bakkt is also expanding its institutional client base, joining EDX Markets’ clearing house and custodial network. Michael highlighted Bakkt’s focus on stable, long-term revenue through subscription-based services, despite recent share price volatility.
This expansion could positively influence sentiment around Bakkt. By entering new markets and diversifying its client base, Bakkt could see an increase in business activity. However, global expansion also brings challenges like regulatory compliance and market adaptation. These factors, along with the recent volatility in the BKKT stock price, could bring some pause to an overly bullish stance on its prospects.
Talkspace, Inc. (TALK)
Talkspace, Inc. is a virtual behavioral healthcare company. They specialize in accessible mental healthcare services.
In their Q3 2023 report, Talkspace revealed significant financial improvements. B2B payor revenue grew 132% year-over-year. Total revenue reached $38.6 million, a 32% increase from the previous year. This growth was driven primarily by a 79% increase in B2B revenue, despite a decline in consumer revenue. Gross profit rose to $18.8 million, a 29% increase.
However, gross margin slightly declined due to a shift towards payor revenue. Operating expenses decreased by 30%, contributing to a reduced net loss of $4.4 million. Adjusted EBITDA loss improved significantly by 82%, showing a promising trend toward financial stability.
For FY 2023, Talkspace forecasts revenue around $146 million, higher than previous estimates. The company aims to reach break-even Adjusted EBITDA by Q1 2024, with a projected cash balance of approximately $120 million. CEO Dr. Jon Cohen highlighted the momentum in their payor business, driven by demand for quality in-network benefits. CFO Jennifer Fulk emphasized progress towards break-even and improving clinical operations.
The post Best Penny Stocks Today? 3 To Watch Under $3 Now appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.nasdaq stocks pandemic cryptocurrency crypto penny stocks crypto
2nd Look at Local Housing Markets in October
Today, in the Calculated Risk Real Estate Newsletter: 2nd Look at Local Housing Markets in October
A brief excerpt: NOTE: Starting next month, I’ll add some comparisons to 2019 (pre-pandemic)!
This is the second look at several early reporting local m…
A brief excerpt:
NOTE: Starting next month, I’ll add some comparisons to 2019 (pre-pandemic)!There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/ home sales mortgage rates real estate pandemic
This is the second look at several early reporting local markets in October. I’m tracking about 40 local housing markets in the US. Some of the 40 markets are states, and some are metropolitan areas. I’ll update these tables throughout the month as additional data is released.
Closed sales in October were mostly for contracts signed in August and September. Since 30-year fixed mortgage rates were in the 7.1% in August and 7.2% in September, compared to the high-5% range the previous year, closed sales were down year-over-year in October.
In October, sales in these markets were down 10.3%. In September, these same markets were down 18.8% YoY Not Seasonally Adjusted (NSA).
This is a much smaller YoY decline NSA than in September for these early reporting markets. However, this is where seasonal adjustments make a difference.
There was one more working day in October 2023 compared to October 2022, the opposite of September when there was one fewer working day in 2023 compared to 2022. So, for October, the seasonally adjusted decline will be larger than the NSA decline.
This early data suggests the October existing home sales report will show another significant YoY decline, perhaps to just above 4 million SAAR (early guess of Seasonally Adjusted Annual Rate), and above the cycle low of 3.96 million SAAR last month. This will be the 26th consecutive month with a YoY decline in sales.
Many more local markets to come!
Macro: Wholesale Trade: sales and inventories
Sales of durable goods at wholesalers remains in decline versus a year ago. The drop is from professional equipment (computers and software) and minerals…
Sales of durable goods at wholesalers remains in decline versus a year ago. The drop is from professional equipment (computers and software) and minerals and metals. Non-durable has returned to growth. The growth is not broad but mostly about petroleum and to a lesser extent, drugs.
Durable goods’ inventories remain high while non-durable goods inventories have dipped just below the historic average.
Apparel stocks have been extremely weak. Much of the weakness is likely a result of ordering way too much inventory coming out of the pandemic and navigating supply chain issues. Inventory is still elevated, but coming down. We see the same dynamic in appliances/electronics and hardware/plumbing/heating.
One call out and area of concern is machinery, equipment and supplies. This would be everything from belts and hoses to pavers. The concern is about both levels and that it is not reversing. Why do we have so much of this stuff sitting around and why is it still building up?
Disclaimer: This information is presented for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy any investment products. None of the information herein constitutes an investment recommendation, investment advice or an investment outlook. The opinions and conclusions contained in this report are those of the individual expressing those opinions. This information is non-tailored, non-specific information presented without regard for individual investment preferences or risk parameters. Some investments are not suitable for all investors, all investments entail risk and there can be no assurance that any investment strategy will be successful. This information is based on sources believed to be reliable and Alhambra is not responsible for errors, inaccuracies, or omissions of information. For more information contact Alhambra Investment Partners at 1-888-777-0970 or email us at firstname.lastname@example.org pandemic
Consumption leads (longer term) unemployment, too
– by New Deal democratOnce again there is no new economic data, so let me follow up some more on the issue of longer term unemployment.Earlier this…
- by New Deal democrat
Once again there is no new economic data, so let me follow up some more on the issue of longer term unemployment.
Ethereum Spikes On BlackRock ETF Filing, “Heavily Institutional” Buying Sends Bitcoin Soaring
“Enough Is Enough”: Widower Sues Hospital for Withholding Ivermectin, Claims Wrongful Death
Moderna debuts first Spikevax brand campaign with lighthearted tone and catchy jingle
As Recession Noise Grows, Recession Signal Is Fading
Berkshire Hathaway’s Q3 2023 Results — Manufacturing, Service, and Retailing
Millennials face this frightening financial reality
Popular party brand files Chapter 11 bankruptcy
Popular retail brand files for Chapter 11 bankruptcy
How Affluent Homebuyers Are Keeping Luxury Real Estate Market Afloat
Initial claims continue tame YoY; why continuing claims indicate that elevated longer-term unemployment is not signaling recession
Government16 hours ago
Running On Censorship: A California Candidate Seeks To Ride The Anti-Free Speech Wave
Spread & Containment19 hours ago
What human diseases can teach us about the immune system
Government23 hours ago
Watch Live: ‘Hawkish’ Powell Hints At Firmer Policy Position, Warns Of Inflation “Head-Fakes”
Spread & Containment21 hours ago
Census: U.S. Population Projected to Begin Declining in Second Half of Century
International5 hours ago
UN’s ‘global stocktake’ on climate is offering a sober emissions reckoning − but there are also signs of progress
Government3 hours ago
Outsized Yield Swings Defy Bond Traders Bets For Calm
International3 hours ago
English football is ready for a rule change when it comes to financial management
Uncategorized22 hours ago
How Affluent Homebuyers Are Keeping Luxury Real Estate Market Afloat