These Penny Stocks Hit It Big In 2021Penny stocks are well-known for their ability to produce significant gains. But in 2021, the flocks of new traders entering the market helped spark a massive retail resurgence in cheap stocks. What also helped was the rise of the meme stock trend and outlets like Reddit and Twitter acting as breeding grounds for new traders. Thanks to social media, the hedge fund “private lunch table” was now accessible by the retail masses. Now, more than halfway through 2021, the trend continues driving momentum for countless penny stocks. Sporadic breakouts in the hundreds of percentage points aren’t uncommon with these cheap stocks. However, this year things have become a bit more amplified. Massive short-squeezes, news-driven breakouts, and other retail-spawned catalysts have taken on a bright spotlight. In turn, those “typical” 100% breakouts have started adding multipliers. In today’s article, we’re looking at 5 former penny stocks that have surged in 2021, and we’ll use a hypothetical starting value of $500 to demonstrate just how much of a surge we’re talking about.
Best Penny Stocks To Buy From 2021
- PDS Biotechnology (NASDAQ:PDSB)
- Vinco Ventures (NASDAQ:BBIG)
- CPI Card Group Inc. (NASDAQ:PMTS)
- Support.com (NASDAQ:SPRT)
- AMC Entertainment (NYSE:AMC)
PDS Biotechnology (NASDAQ:PDSB)First on this list of penny stocks is PDS Biotechnology. It’s the name that has moved up the least in 2021, and that’s saying a lot. Starting at the opening bell on January 4th, shares of PDSB stock were trading at $2.20. As of this week, the former penny stock traded around highs of $15.43. Those of you keeping score, that’s a move of 601% year-to-date, which means that hypothetical $500 would be worth just over $3,000 right now ($3,005).
What Does PDS Biotechnology Do?The company has experienced a few big breakthroughs this year that’ve helped it reach these heights. PDS specializes in immunotherapy for treating cancer. Its Versamune T-cell activating technology is the backbone of its treatment platform. Right now, the focus is on the company’s PDS0101, which is in a Phase 2 combination trial with Merck’s (NYSE:MRK) Keytruda, targeting head and neck cancer. Read more: 4 Cheap Penny Stocks To Buy On Robinhood For Under $1 Right Now PDS will present an update on PDS0101 trials at the upcoming Oppenheimer Fall Healthcare Life Sciences & MedTech Summit at the end of the month. There is also an update planned on the company’s other pipeline products, including PDS0102 and PDS0103, which are in the process of going into human clinical trials.
Vinco Ventures (NASDAQ:BBIG)Unless you’ve been living under a rock, you’ve probably heard about Vinco Ventures. The company’s foray into the world of social media raised eyebrows initially. Then heads began to turn thanks to the latest “short squeeze stocks” trend in the market. Despite having pulled back from its 2021 highs, the former penny stock is still up considerable percentage points year-to-date. BBIG stock was trading at $1.38 to start the year and reached $10.57 this week. That 665% move would put that hypothetical $500 at $3,325 right now.
What Does Vinco Ventures Do?With the rise of platforms like TikTok, competitors have been vying for positions. In Vinco’s case, along with its merger partner, ZASH Global Media, the companies acquired Lomotif Private Ltd. It’s a Singapore-based video-sharing social networking platform becoming a rival to TikTok and Kuaishou. Lomotif has achieved a record number of Monthly Active Users (MAUs) with over 30 million MAUs, according to Data Analysis Firm Sensor Tower. Furthermore, Vinco recently launched recording Artist Tory Lanez’s album “When It’s Dark” on the E-NFT.com platform. “When It’s Dark” is the first album to go platinum on the blockchain with over 1,000,000 units sold.
CPI Card Group Inc. (NASDAQ:PMTS)Shares of CPI Card Group have quietly mounted a massive move in the stock market this year. This former penny stock hasn’t traded more than 230,000 shares in a single day. Yet even with that as the case, PMTS stock has managed to climb from $4.43 at the start of January to highs this month of $37.70. Yes, you read that correctly. Even with lighter daily trading volumes, this former penny stock has managed to climb over 730% year-to-date. That means the hypothetical $500 would be sitting at $3,660 right now.
What Does CPI Card Do?Fintech has been red hot this year. CPI payment technology providing payment solutions for its customers. The company has also experienced some significant growth over the last year. Taking a look at the latest quarterly report, you’ll quickly see this as the case. Year-over-year during the second quarter, net sales increased by over 30% to $93.2 million. Read more: Best Energy Penny Stocks to Buy As The Industry Climbs? 3 to Watch Meanwhile, gross profit jumped 61%, with earnings per share eclipsing previous results coming in at 53 cents a share, up from just 11 cents in the same period a year earlier. Income from operations also grew just a little bit, 218% year-over-year. With this as the backdrop, the significant increase in share price has helped echo the milestone year that CPI has experienced so far.
Support.com (NASDAQ:SPRT)Another one of the bellwethers of the retail trading community this quarter was Support.com. The company saw its shares open for trading on January 4th at $2.25. At one point this year, the former penny stock reached highs of $59.69 in the heat of a massive short squeeze. However, even after pulling back more than 60% from those highs, SPRT stock is still up over 900% year-to-date as of this week’s $22.57 high. That puts the hypothetical $500 at $4,515.
What Does Support.com Do?Originally focused on virtual workforce assistance, Support.com pivoted into the increasingly popular cryptocurrency industry. Via a proposed merger with Greenbridge Generation Holdings, the combined company would advance Greenbridge’s bitcoin mining and power generation infrastructure. The merger is still pending. However, both parties expect it to become effective and close this week. The new trading symbol will accompany the deal, with SPRT becoming GREE stock on September 15th.
AMC Entertainment (NYSE:AMC)Finally, the king of meme stocks, AMC Entertainment, rounds out this list of some of the best penny stocks of 2021. It’s crazy to think, now, but at the start of 2021, AMC stock was only trading at $2.20 a share. By now, you most likely know that it went on two epic rallies, ultimately hitting highs of $72.62 earlier this year. Even with it off its high by nearly 30%, AMC stock is still up 2,299% year to date as of this week’s high so far. With just the $500 hypothetical position at the start of 2021, it would be worth $11,495 at this point.
What Does AMC Do?Sticking with the theme of the article, of course, I’ll tell you what AMC does. Wait, what do they do? Are they just a stock the Apes trade? Are they a movie theatre company? Is GameStop doing a deal with them? There’s speculation abound with the company. At heart, yes, it is a movie theatre company that fell hard on its luck thanks to the pandemic shutdown in 2020. Since then, the retail trading masses have helped breathe new life into the beaten-down company. Now that economies are beginning to reopen, companies like AMC have come back into focus.
Are Penny Stocks Worth It?Clearly, these former penny stocks were some of the top performers of 2021. However, it’s important to remember that not all penny stocks experience such rampant breakouts. In fact, many companies end up failing entirely. To score big, it’s important to have a clear understanding of how to trade and manage your risk. Obviously, that goes for any stock, not just penny stocks. Thanks to the increased volatility, these lower-priced assets have another layer of risk to consider. Hone those trading skills, though, and you’ll be able to make plenty of money with penny stocks. Taking the hypothetical $500 from these 5 former penny stocks would’ve equated to $2,500 at the start of the year. As of this week, that would be sitting around $26,000 based on September 13th highs. The post Best Penny Stocks To Buy In 2021? 5 That Turned $2,500 Into $26,000 appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com. nasdaq stocks pandemic cryptocurrency bitcoin blockchain penny stocks
Stock Market News For Today September 22, 2021
Investors await Fed’s monetary policy update and new economic projections in the stock market today.
The post Stock Market News For Today September 22, 2021 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket…
Stock Market Futures Edge Higher As Evergrande Bankruptcy Fears Ease
Stock market futures are on the rise early on Wednesday morning. This came after China’s Evergrande said it would make its interest payment on schedule, offering some relief to the jittery markets. Some investors are also expecting the Chinese government to step in to mitigate potential spillover effects that could weigh on global economic recovery. For example, the short-term cash injection from China’s central bank has helped soothe the nerves of the stock market. While there has been speculation that this could be China’s ‘Lehman moment’, many experts believe the comparison is unjustified.
“There’s been a fair bit of concern about the possibility of contagion,” analysts at New York-based Bespoke wrote in a research note on Tuesday. “But so far that concern isn’t showing up in parts of the credit markets that have served well as red flags for broader credit crunches in the past.”
Investors are also awaiting an update to the Fed’s monetary policy and economic projections. Jerome Powell is expected to speak to the media at 2.30 p.m. ET today. Investors could expect the Fed to lay the groundwork for a near-term announcement and when the tapering would take place. Recall that Powell previously said it could begin as soon as this year. But some investors are now speculating that it won’t happen this soon. As of 6:45 a.m. ET, the Dow, S&P 500, and Nasdaq are up by 0.64%, 0.58%, and 0.34% respectively.
[Read More] What Stocks To Buy Today? 5 Tech Stocks To Watch
Marin Software (MRIN) Stock Surges On New Google Agreement
Marin Software (NASDAQ: MRIN) stock is spiking higher in pre-market trading today. This came after the announcement that the company entered into a revenue share agreement with Alphabet (NASDAQ: GOOGL) to develop its enterprise tech platform and software products. The revenue share agreement will take effect on October 1. For some context, the company provides marketing software to advertising agencies. Its MarinOne product is an e-commerce advertising platform, and its Marin Search is for managing advertising campaigns.
Last month, the company revealed that its system is now integrated into Criteo’s Commerce Media Platform. Essentially, that opens up the option of wider use of the company’s MarinOne platform.
Chris Lien, CEO of Marin Software, is also highly optimistic about the news. In his own words, “Commerce media is one of the most exciting and fastest-growing areas of digital marketing. With this integration, we can tap into Criteo’s commerce data and intelligence to further our mission of providing advertisers with seamless access to customers across their customer journey, from the top of the funnel to the point of purchase.”
Adobe (ADBE) Stock Falls As Recurring Revenue Barely Top Estimates
Adobe’s (NASDAQ: ADBE) fiscal third-quarter earnings and sales beat expectations, but the results weren’t enough to lift ADBE stock in the extended trading. From its quarterly report, revenue came in 22% higher year-over-year to $3.94 billion. In fact, it was a quarterly sales record for Adobe, topping Wall Street’s consensus estimate of $3.89 billion, according to FactSet.
On top of that, Chief Executive Officer Shantanu Narayen also pitched new creative software tools to continue Adobe’s steady 20% revenue growth. As part of that effort, Adobe said last month it would acquire Frame.io, a startup that makes video collaboration software, for $1.3 billion. By and large, the current tailwinds behind Adobe’s core offerings persist along with the pandemic. With all this in mind, the real question is whether or not Adobe can maintain its current momentum.
On Monday, Wells Fargo (NYSE: WFC) reiterated its Overweight rating on ADBE stock ahead of its earnings call. The firm even hailed Adobe as “one of the crown jewels of software”, citing solid core positioning and industry tailwinds as major growth factors. Wells Fargo recommends Adobe “as a long-term core holding in any large-cap tech portfolio“. Last week, the company also announced a partnership with PayPal (NASDAQ: PYPL). This partnership aims to add more payment services to its e-commerce platform. Thus, merchants will be able to accept credit cards and other ways of paying. Considering all these, would the current dip in ADBE stock present an opportunity for bargain hunters?
BlackBerry Set To Report Earnings After The Stock Market Closes Today
Gone were the days when BlackBerry (NYSE: BB) tops the global smartphone market. But that doesn’t keep investors away from investing in this well-respected software security company. The company is set to report its earnings after the stock market closes today. Naturally, a lot of the attention will be on BlackBerry stock today. Many investors and analysts are highly bullish on the company’s untapped potential in the cybersecurity space. If you have been following Reddit’s chatter, you would also know that’s a meme stock that gets speculated on by investors.
The company provides intelligent security software and services to enterprises and governments around the world. As you may be aware, Microsoft (NASDAQ: MSFT) participated in a meeting at the White House last month regarding the need to address cybersecurity threats as a country. With BlackBerry as a partner, a lot of focus will be on BB stock moving forward.
Other positive catalysts include the increased proliferation of BlackBerry’s systems in China’s automotive space. On August 26, the company announced that Chinese carmaker Great Wall Motors would use an advanced digital cockpit controller platform developed by BlackBerry and its partner Nobo. If anything, it shows that BlackBerry and its partner continue to be making progress in the huge Chinese auto market. With all that in mind, is BB stock a buy ahead of its earnings report?
Other Notable Earnings On Tap Today
Not to mention, several other major companies are looking to report their earnings today. For those looking to jump on some pre-market earnings action, we have General Mills (NYSE: GIS) and Gaotu Techedu (NYSE: GOTU) on tap.
Alternatively, in case you are keener on earnings after the closing bell, there is a good mix of names to consider as well. Namely, Blackberry, KB Home (NYSE: KBH), and H.B. Fuller (NYSE: FUL) among others would be in focus. Whether you are anticipating the Fed’s announcement or keeping up with earnings, one thing remains. There is no shortage of exciting news to note in the stock market now.bankruptcy pandemic economic recovery credit markets sp 500 nasdaq stocks monetary policy fed white house recovery china
The Market is Deeply Oversold And Looking For A “Dovish” Fed
As we will discuss, the market is deeply oversold and looking for a "dovish" Fed to spark buying. Traders and investors will be laser-focused on the Fed meeting adjourning at 2 pm ET. Of importance, the decision on taper and their characterization of…
As we will discuss, the market is deeply oversold and looking for a “dovish” Fed to spark buying. Traders and investors will be laser-focused on the Fed meeting adjourning at 2 pm ET. Of importance, the decision on taper and their characterization of the economic recovery and inflation. If they do elect to announce a taper schedule, the pace of tapering and any caveats that may delay tapering will be of utmost importance.
Like yesterday markets are opening up a half to one percent higher. Will they hold onto the gains, unlike yesterday? The answer likely lies with the Fed at 2 pm.
What To Watch Today
- 7:00 a.m. ET: MBA Mortgage Applications, week ended September 17 (0.3% during prior week)
- 10:00 a.m. ET: Existing home sales, month-over-month, August (-1.7% expected, 2.0% in July)
- 2:00 p.m. ET: FOMC policy decision
- 7:00 a.m. ET: General Mills (GIS) is expected to report adjusted earnings of 89 cents per share on revenue of $4.30 billion
- 4:10 p.m. ET: KB Home (KBH) is expected to report adjusted earnings of $1.62 per share on revenue of $1.57 billion
- 5:05 p.m. ET: BlackBerry (BB) is expected to report adjusted losses of 7 cents per share on revenue of $166.80 million
- President Biden is back in Washington this morning after his speech to the UN General Assembly. He’s still involved remotely in the proceedings and is hosting a virtual COVID-19 Summit with other world leaders today.
- The Centers for Disease Control and Prevention has meetings today and tomorrow to discuss the need for COVID booster shots. Last week, a Food and Drug Administration (FDA) advisory committee recommended boosters for Americans at high risk of falling seriously ill from the coronavirus.
- The Senate may consider a plan to avoid a government shutdown and to raise the debt ceiling. It passed the House of Representatives last night on a party-line vote with Republicans vowing to block it when it reaches the Senate.
Market Deeply Oversold – Looking For Some “Dovish” Tones
The rolling correction over the last 3-weeks has pushed the market into deeply oversold conditions on a short-term basis. Such provides plenty of “fuel” for a decent rally over the next month or two given some news to spark buying. Today, the Fed could do the trick with Jerome Powell delivering his post-FOMC press conference with a “dovish” tone. With Congress battling over the debt ceiling, the Treasury running out of money, and the risk of a Government “Shutdown” looming, the Fed has all it needs to provide plenty of “caveats” to its “taper” plans.
Fear Greed Index Near Lows
Another reason for near-term bullish optimism, is that both the AAII bullish allocation and the “Fear/Greed” index are near their respective lows. Combined with the oversold market conditions, such typically provides a buying catalyst as traders reposition themselves in equity risk.
Trading Game Plan for the S&P 500
The markets are trading well in overnight trading following yesterday’s flat-trading day. The bounce provides us with another set of levels, in addition to the 50, 100, and 200-dmas, to guide our trading. The graph below shows the Fibonacci retracements from the recent high to low. If this rally proves to be a bull trap, it is likely to give up between the 38% retracement (4395) and the 62% retracement (4451). There is also a gap between 4400 and 4430.
It is common for such gaps to fill and then reverse direction. If the market surges higher through the gap and retracement levels, the outlook becomes more bullish. A rally above the 4451 retracement level and well through the 50dma (4436) will likely lead to new highs. Conversely, the 50 dma (4436) may prove to be resistance. The first line of support is yesterday’s lows and the 100dma (4328). A break of the recent low leaves a target of 4106, the 200dma.
Easy Lending Standards
Employment and inflation tend to get the headlines as far as rationales for the Fed to take action. As we consider what the Fed may do tomorrow, we should also consider lending standards. The graph below shows the lending standards for large banks’ credit card customers are as easy as they have been in 20 years. On its own, very easy lending standards, as we have, push the Fed toward a more hawkish stance. Easy borrowing conditions incentivize personal consumption. More consumer activity, especially given current supply line problems, is likely to further agitate inflationary conditions.
Chinas & Evergrande. Will They or Won’t They?
In addition to concerns with China, Evergrande, and possible contagion, the markets are also grappling with Wednesday’s Fed meeting. In what was likely a purposeful leak last week, the WSJ laid the groundwork for a taper announcement Wednesday and the reduction in asset purchases in November. With the U.S. and foreign markets skidding yesterday some are asking how the Fed might react. In a Bloomberg interview, ex-New York Fed President, Bill Dudley, warns “They’re not going to react to small market moves and defer the tapering on that basis. They have to change their economic forecast,” he said Monday during an interview on Bloomberg Television with Lisa Abramowicz, Tom Keene and Jonathan Ferro. “At this point, it’s really premature to reach that conclusion.”
The post The Market is Deeply Oversold And Looking For A “Dovish” Fed appeared first on RIA.economic recovery coronavirus covid-19 sp 500 fomc fed home sales disease control congress senate house of representatives fda recovery china
Get Ready for the Coming Oil Crisis (SBOW, VKIN, CPE, RRC, XOM, CVX, SM, CEI, OIH)
The landscape is in place for a coming supply shortage crisis in the oil market, and the only place to hide for investors may be in small-cap oil stocks. The world is adjusting to the next chapter – the post-pandemic period – and global oil demand…
The landscape is in place for a coming supply shortage crisis in the oil market, and the only place to hide for investors may be in small-cap oil stocks.
The world is adjusting to the next chapter – the post-pandemic period – and global oil demand is recovering powerfully, on pace to hit new all-time highs by early next year.
At the same time, non-OPEC oil supply is falling, down over 2 million barrels per day from its 2019 peak. Even more to the point, non-OPEC oil supply growth will turn negative over coming years, according to new forecasts from the IEA.
That inflection will foster a gap between supply and demand with structural implications. By just 12 months from now, demand will encroach on total production potential for the first time in 160 years – since we first started ramping up the oil industry in the 19th century.
This may well become the most important investment theme over coming years. But it won’t just impact the fortunes of the world’s major integrated producers like Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX). It will define the landscape for the entire market, and the biggest beneficiaries will likely be the small-cap oil players now trading at cheap levels.
With that in mind, we take a look at a few of the more interesting names in the space and cover some recent catalysts.
SilverBow Resources Inc (NYSE:SBOW) is a growth-oriented independent oil and gas company in the dead-center of what you might call the small-cap growth niche in the US shale energy space.
The company engages in the acquiring and developing assets in the Eagle Ford Shale.
SilverBow Resources Inc (NYSE:SBOW) recently announced it has entered into definitive agreements to acquire oil and gas assets in the Eagle Ford from an undisclosed seller. Acquisition Highlights include: All stock Transaction for approximately $33 million, consisting of approximately 1.5 million shares of SilverBow common stock, 45,000 total net acres in the Eagle Ford, bolstering SilverBow’s gas position in McMullen and Live Oak counties, while adding new oil positions in Atascosa, Lavaca, and Fayette counties, and April 2021 net production of approximately 1,580 barrels of oil equivalent per day, 39% liquids. Net oil production of 569 barrels per day
Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “We continue to execute on accretive opportunities and bolster our balanced oil and gas portfolio. This marks the second acquisition we have announced since the beginning of August. Our first deal increased our high-return Eagle Ford and Austin Chalk locations, as well as incremental working interest in producing wellbores, in our La Mesa position. Today’s announcement expands our gas portfolio in the Western Eagle Ford, while also adding oil acreage in three new counties. Each transaction is accretive to Adjusted EBITDA and further reduces our pro forma leverage ratio(1) via the assets’ incremental cash flow. Our ability to use stock as consideration reflects the constructiveness of Eagle Ford partners to share in SilverBow’s long-term value creation.”
The stock has suffered a bit of late, with shares of SBOW taking a hit in recent action, down about -9% over the past week. Shares of the stock have powered higher over the past month, rallying roughly 13% in that time on strong overall action.
SilverBow Resources Inc (NYSE:SBOW) managed to rope in revenues totaling $69.9M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 181.2%, as compared to year-ago data in comparable terms. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($2.1M against $101.9M, respectively).
Viking Energy Group Inc (OTC US:VKIN) is an emerging small-cap player in the oil and gas space with assets located in North America in Kansas, Missouri, Texas, Louisiana, and Mississippi. Viking also has firm financial backing from its majority owner, Camber Energy Inc (NYSEAMERICAN:CEI), which recently raised $15 million in non-toxic financing that is convertible well above current share pricing.
That suggests Viking has a lot of expansion opportunity here as well, which is a big factor in presenting the stock. Shares have started to heat up as it gets involved in carbon capture technology, which is a very nice addition to the narrative.
Viking Energy Group Inc (OTC US:VKIN), to expand on that point, recently entered into an Exclusive Intellectual Property License Agreement with ESG Clean Energy regarding ESG’s patent rights and know-how related to stationary electric power generation, including methods to utilize heat and capture carbon dioxide. This has the potential to catapult VKIN into a key position in the clean energy space.
According to the release, the ESG Clean Energy System is designed to generate clean electricity from internal combustion engines and utilize waste heat to capture ~ 100% of the carbon dioxide (CO2) emitted from the engine without loss of efficiency, and in a manner to facilitate the production of precious commodities (e.g., distilled/ de-ionized water; UREA (NH4); ammonia (NH3); ethanol; and methanol) for sale.
James Doris, President and Chief Executive Officer of Viking, commented, “In my view this transaction positions us as an industry leader in terms of being able to assist with the power generation needs of commercial and industrial organizations while at the same time helping them reduce their carbon footprint to satisfy regulatory requirements or to simply follow best ESG-practices. We are excited to be able to use the platform of Simson-Maxwell Ltd., our recently acquired majority-owned subsidiary, to promote the ESG Clean Energy System.”
Viking Energy Group Inc (OTC US:VKIN) is a small but growing oil play with improving financial metrics, and it should be taken seriously as a player in a space that could be heading for a major windfall. The company recently posted double-digit growth in revenues, current assets, and EBITDA for its calendar Q2, and its move to gain exposure to the carbon capture theme is likely to help it gain greater visibility, as evidenced by the stock’s recent 200% multi-week rally.
Callon Petroleum Company (NYSE:CPE) engages in the exploration, development, acquisition and production of oil and natural gas properties in the United States.
The company focuses on unconventional oil and natural gas reserves in the Permian Basin.
Callon Petroleum Company (NYSE:CPE) recently announced an agreement to acquire the leasehold interests and related oil, gas, and infrastructure assets of Primexx Energy Partners and its affiliates. Primexx is a private oil and gas operator in the Delaware Basin with a contiguous footprint of 35,000 net acres in Reeves County and second quarter 2021 net production of approximately 18,000 barrels of oil equivalent per day (“Boe/d”) (61% oil). The cash and stock transaction is valued at approximately $788 million, representing a headline purchase price multiple of approximately $43,800 per Boe/d, based on second quarter production.
Callon President and Chief Executive Officer Joe Gatto commented: “The Primexx transaction checks every operational and financial box on the list of compelling attributes of consolidation. The asset base adds substantial current oil production and a top-tier inventory to our Delaware portfolio, and fits squarely into our model of scaled, co-development of a multi-zone resource base. Our integrated, future development plans will benefit greatly from the combined Delaware scale and we expect to generate approximately 30% more adjusted free cash flow from the third quarter of 2021 through year-end 2023 under our conservative planning price assumptions. The infusion of over $550 million of equity from the acquisition and Kimmeridge’s exchange further heightens the overall benefits, immediately reducing leverage metrics and creating a visible path to net debt to adjusted EBITDA of below 2.0x next year.”
And the stock has been acting well over recent days, up something like 7% in that time. Shares of the stock have powered higher over the past month, rallying roughly 22% in that time on strong overall action.
Callon Petroleum Company (NYSE:CPE) managed to rope in revenues totaling $440.4M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 180.1%, as compared to year-ago data in comparable terms. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($3.8M against $813.8M, respectively).
Other key stocks in the small-cap oil space include Range Resources Corp. (NYSE:RRC), Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), SM Energy Co (NYSE:SM), and VanEck Oil Services ETF (NYSEARCA:OIH).
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The post Get Ready for the Coming Oil Crisis (SBOW, VKIN, CPE, RRC, XOM, CVX, SM, CEI, OIH) appeared first on Wall Street PR.stocks pandemic etf small-cap otc commodities oil
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