Connect with us


Oil rally expected to continue in 2022

Brent crude futures traded near $85 on Wednesday, hitting two-month highs Oil prices that…
The post Oil rally expected to continue in 2022 first appeared on Trading and Investment News.



Brent crude futures traded near $85 on Wednesday, hitting two-month highs

Oil prices that rallied 50% in 2021 will power further ahead this year, some analysts predict, saying a lack of production capacity and limited investment in the sector could lift crude to $90 or even above $100 a barrel.

Though the Omicron coronavirus variant has pushed COVID-19 cases far above peaks hit last year, analysts say oil prices will be supported by the reluctance of many governments to restore the strict restrictions that hammered the global economy when the pandemic took hold in 2020.

Brent crude futures traded near $85 on Wednesday, hitting two-month highs.

Assuming China doesn’t suffer a sharp slowdown, that Omicron actually becomes Omi-gone, and with OPEC+’s ability to raise production clearly limited, I see no reason why Brent crude cannot move towards $100 in Q1, possibly sooner, said Jeffrey Halley, senior market analyst at OANDA.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, are gradually relaxing the output cuts implemented when demand collapsed in 2020.

However, many smaller producers can’t raise supply and others have been wary of pumping too much oil in case of renewed COVID-19 setbacks.

Morgan Stanley predicts that Brent crude will hit $90 a barrel in the third quarter of this year.

With the prospect of depleting crude inventories and low spare capacity by the second half of 2022, and limited investments in the oil and gas sector, the market will have little margin of safety, the bank said.

JPMorgan analysts said in a note on Wednesday that they could see oil prices rising by up to $30 after the Energy Information Administration (EIA) and Bloomberg lowered OPEC capacity estimates for 2022 by 0.8 million barrels per day (bpd) and 1.2 million bpd respectively.

However, the bank added that it also expects oil prices to ‘overshoot’ to $125 a barrel this year, and $150 in 2023.

Rystad Energy’s senior vice-president of analysis Claudio Galimberti said if OPEC was disciplined and wanted to keep the market tight, it could boost prices to $100.

However, he said he did not consider this a likely scenario and while oil could ‘momentarily’ reach above $90 this year, downward pressure on prices would come from production increases in Canada, Norway, Brazil and Guyana.

The post Oil rally expected to continue in 2022 first appeared on Trading and Investment News.

Read More

Continue Reading

Spread & Containment

Spotify Drops Customer Service, Keeps Joe Rogan

Customers upset with the Rogan decision are reportedly receiving an automated message when the company used to offer live customer support.



Customers upset with the Rogan decision are reportedly receiving an automated message when the company used to offer live customer support.

If you were thinking of contacting Spotify  (SPOT) - Get Spotify Technology SA Report to complain about their Joe Rogan decision, you may want to reconsider. Instead of responding to the complaints, the music streaming platform has reportedly replaced live people with an automated response system.

At the start of the week, well-known rock and roll musician Neil Young took Spotify to task over its $100 million contract with podcaster, comedian and former Ultimate Fighting commentator Joe Rogan — while the "Joe Rogan Experience" podcast attracts huge audiences, it has also been the forum he used to discourage young people from taking vaccines and promote the unproven ivermectin drug as a treatment for COVID-19. 


What Happened With Young And Rogan?

Even prior to Young's request to Spotify to either drop Rogan or remove all his music from the platform, over 270 scientists and doctors signed an open letter calling for Spotify to prevent the spread of misinformation through the podcast.

"Spotify has a responsibility to mitigate the spread of misinformation on its platform, though the company presently has no misinformation policy," Young, who caught polio as a child three years before a vaccine was made available, wrote in a Jan. 25 letter to Spotify. "[...] They can have Rogan or Young. Not both."

By Wednesday, Spotify chose to remove Young's music instead of Rogan. With over 11 million listeners, the podcast is by far its most popular and the platform had previously signed a multiyear, $100 million contract with Rogan in 2020.

The situation caused outrage not just among rock-and-roll fans (songs like "Heart Of Gold" and "Like A Hurricane" have made Young a beloved figure) but also average listeners who felt that Spotify was enabling misinformation during a deadly pandemic. 

So What Is Spotify Doing About It?

Many took to both social media and customer service to complain and, as Newsweek first reported, the support chat -- which previously used live people -- started getting back to customers with an automated response.

"We're currently getting a lot of contacts so may be slow to respond," a message that some received around 2 p.m. on Thursday reportedly read. Prior to this situation, they would be able to chat with a real customer service staff member (albeit sometimes after a lengthy wait).

The uproar shows no sign of winding down and, at the moment, thousands of posts about either having quit or how to quit Spotify are circulating on Twitter  (TWTR) - Get Twitter, Inc. Report, and Facebook (FB) - Get Meta Platforms Inc. Class A Report.

"The only easy way to leave @Spotify is to remove your credit card payments in profile settings," California guitarist Brian Ray wrote on Twitter. "They are getting swarmed and they will not help you cancel."

Read More

Continue Reading


Apple Music, Tidal Roast Spotify After Neil Young’s Removal

The controversy highlights that podcasts are likely more important to the streaming giant than music.



The controversy highlights that podcasts are likely more important to the streaming giant than music.

Rust never sleeps, and apparently neither does social media or controversy.

Earlier this week, rock and roll legend Neil Young called for his music to be removed from the streaming giant Spotify  (SPOT) - Get Spotify Technology SA Report, citing the misinformation about COVID-19, and its attendant vaccines, that are regularly offered by podcaster Joe Rogan. “They can have [Joe] Rogan or Young. Not both,” said Young, a survivor of childhood polio, in a statement.

Rogan’s popular podcast “The Joe Rogan Experience,” is one of the most popular in the medium. It's also a Spotify exclusive that the streaming service paid a rumored $100 million to acquire in 2020.

Spotify didn’t acquiesce to Young’s demands to get rid of Rogan, and the songwriter had his catalog removed. In wake of the controversy, #CancelSpotify began trending, Spotify’s streaming competitors are using the flare up to get some free publicity, while critics of the service are using it to make a point about the service’s priorities. 


Joe Rogan Brings In Both Listeners And Headaches

You can love Joe Rogan or you can hate him, but there’s one thing that can’t be denied about him: the former sitcom actor turned reality show host and mixed martial arts commentator is one of the most popular podcasters in the world. In fact, he's arguably the most popular podcaster, period.

Though some observers thought that signing an exclusive deal with Spotify would limit his audience, he nonetheless had the most popular podcast on Spotify last year.

By signing an exclusive deal with Rogan, Spotify gains access to his loyal fanbase but is also quite often in the awkward position of seeming like they are condoning his controversial statements. 

Rogan has been widely accused of both transphobia and Islamophobia, and Spotify staff members have reportedly pushed Spotify CEO Daniel Elk to remove episodes they deemed transphobic, which he declined to do after an all-hands staff meeting. However, the company has been known to remove some episodes of Rogan’s podcast, including an interview with Proud Boys founder Gavin McInnes.

While Apple Podcasts’ have restriction on content “that may lead to harmful or dangerous outcomes,” Spotify “like other tech companies that distribute media, is fundamentally uncomfortable making decisions about what kind of media it does and doesn’t want to distribute,” as noted by Vox.

Rogan has a history of making statements about COVID-19 and the effectiveness of the vaccines that that have drawn criticism from the medical community, such as a statement that younger people don’t need to get vaccinated, stating “if you're like 21 years old, and you say to me, should I get vaccinated? I'll go no.” In response to the outcry from the statement, he later clarified “I'm not an anti-vax person,” Rogan said. "I believe they're safe and encourage many people to take them."

The latest flashpoint occurred in December, when Rogan interviewed Robert Malone, a scientist and mRNA vaccine skeptic who has been banned from Twitter for spreading misinformation, and stated at a recent anti-vaccine rally in Washington, D.C. that “the science is settled. They’re not working.” (Scientists have repeatedly pointed out that this is incorrect.) 

Spotify’s Competitors Jump Into The Fray

Some commentators believe this ongoing scuttlebutt paints Spotify in a bad light by making them look indifferent in the face of a public health crisis, while others have applauded the company for not capitulating to public pressure and defending Rogan’s right to free speech. 

But either way, in the long run, the dust-up between Young and Spotify isn’t likely to do much to hurt the streaming service’s bottom line, as it remains the most popular audio streaming service, with 381 million Monthly Active Users and 172 million Premium Subscribers according to its most recent earnings report. 

When you’re the number one, there’s always going to be competitors looking to take your spot, and many of the streaming giant’s competitors took to social media to take advantage of the controversy, and to point out that there’s plenty of places to stream classic young albums like "Rust Never Sleeps" and "After the Gold Rush." 

Spotify has become so synonymous with streaming music that companies like Tidal, Deezer, and SiriusXM (SIRI) - Get Sirius XM Holdings, Inc. Report no doubt welcome the opportunity to remind people that there are other options out there. 

Why Spotify Backed Joe Rogan 

One Tweet that has gained traction online was from Damon Krukowski, a musician who played in the influential indie rock band Galaxie 500 who had become a leading critic and commentator on the digital music sphere.

Depending on your point of view, this statement is either a withering diss of Spotify, or a clear-headed assessment of the company’s business model. 

It’s objectively true that Spotify’s main interest is getting people to spend as much time on its platform as possible, which is why its growth strategy has been heavily focused on podcasts for the past few years. 

Amidst competition from Amazon and Apple, the company has been looking to become less dependent on music and has been on a content buying spree lately, acquiring podcast companies such as Gimlet Media, Anchor FM Inc. (a company that helps people make their own podcasts), Parcast, and the sports/entertainment website and podcast network The Ringer. 

Spotify has struggled to make money largely because streaming music carries a low profit margin. The company noted that it has improved its margins due to its investments outside of streaming music.

"Gross margin finished at 26.7% in Q3, above the top end of our guidance range and reflecting nearly 200 bps of Y/Y expansion. The gross margin improvement reflected a favorable revenue mix shift towards podcasts, marketplace activity, improved music advertising operating leverage, and other cost of revenue efficiencies (e.g. payment fees, streaming delivery costs), which were partially offset by higher non-music and other content costs and publishing rate increases," the company wrote in its Q3 earnings report.

Spotify lost $0.41 per share in its most recent quarter and expects losses to continue into Q4. The company does have roughly $3.6 billion in cash on hand to fund continued losses and acquisitions.

Read More

Continue Reading

Spread & Containment

Trading Penny Stocks? Top Stock Market News for January 28th, 2022

Trading penny stocks today? Here’s what you need to know
The post Trading Penny Stocks? Top Stock Market News for January 28th, 2022 appeared first on Penny Stocks to Buy, Picks, News and Information |



Buying Penny Stocks Today? Here’s What You Need to Know 

As we enter another day of trading penny stocks and blue chips, stock futures are showing mixed results on January 28th. While some are glad to see this week end, others are anxious about what the future could hold. 

But, what we do know is that there is a sizable amount of hope for penny stocks to perform well in the coming weeks. To understand how to trade penny stocks today, let’s take a look at what is going on in the stock market right now.

What to Know About Trading Penny Stocks Today 

The biggest news in the market right now is the major earnings that were reported this week. This includes Apple Inc. (NASDAQ: AAPL), which reported record quarterly sales and profits that were better than expected. 

In addition to this, news surrounding the GDP during the fourth quarter showed higher growth than investors had anticipated as well as lower jobless claims. But, as traders continue to digest the hawkish news from the Fed and Fed Chair Jerome Powell’s comments on future interest rates, markets remain in flux. 

[Read More] Why Stocks Were Down Today: What To Know Now As Markets Sell-Off

As we all know, stocks do not like uncertainty. And, they is something that we are seeing quite a bit of across the market right now. So, as the Fed continues to work on improving inflation, we are likely to see more volatility in the near future. With that in mind, let’s take a look at three penny stocks that are climbing during premarket trading right now. 

3 Penny Stocks Climbing During Premarket Right Now 

  1. NovaBay Pharmaceuticals Inc. (NYSE: NBY
  2. Imperial Petroleum Inc. (NASDAQ: IMPP
  3. Vaccinex Inc. (NASDAQ: VCNX

NovaBay Pharmaceuticals Inc. (NYSE: NBY) 

During premarket, shares of NBY stock jumped by around 8%. While many stocks can jump with no news, NovaBay made an exciting announcement during early morning. The company stated that it has appointed Audrey Kunin, M.D., and Julie Garlikov to its Board of Directors. The two represent decals of experience in the skincare and pharmaceutical industry, and for that reason, they could be major assets to the company moving forward. 

“This is an exciting, transformational time at NovaBay with the recent addition of DERMAdoctor and our planned further expansion into the large, lucrative OTC eyecare and skincare markets. We are delighted to welcome professionals to our Board who bring highly relevant experience and records of success.” 

The Chairman of the Board at NovaBay, Paul E. Freiman

With this big news in mind, will NBY be on your list of penny stocks to watch?

Imperial Petroleum Inc. (NASDAQ: IMPP) 

The largest gainer of the day during premarket trading is IMPP stock. By early morning, shares of IMPP stock had surged by a staggering 77% to over $2.05 per share. The main reason behind this gain is IMPP stock erasing some of its losses from the previous few days of trading.

[Read More] Hot Penny Stocks to Add to Your Watchlist Right Now

While this may not be enough to justify an over 70% gain, we did see exciting quarterly results from the company last month. In December, it posted revenue of $4.1 million for Q3 2021. 

“We are happy to have successfully concluded the spin-off of STEALTHGAS’s four tankers into a separate listed entity. This year has been tough for tanker owners as the market was hit by COVID-19 uncertainty resulting in reduced oil demand and reduced crude exports.” 

The CEO of Imperial Petroleum, Harry Vafias

Although it is tough to say if IMPP stock deserves a spot on your penny stocks watchlist, today’s move is an interesting one. With that considered, do you think IMPP stock is worth buying or not?


Vaccinex Inc. (NASDAQ: VCNX) 

During premarket, VCNX stock shot up by a very sizable 19%. Despite a one year loss of around 60%, we are seeing a slight bullish turnaround with Vaccinex. So, why did shares of VCNX stock move today? Well, the company announced during early morning trading that it has received two complete responses for the first three patients enrolled in its Phase 1b/2 Keynote B84 study of pepinemab in combination with Keytruda. This study is testing the combination of these compounds for those with either recurrent or metastatic head and neck cancer. 

“We believe there is a strong rationale for continued development of pepinemab in combination with KEYTRUDA in HNSCC…We look forward to sharing further results at a medical conference as the study progresses, with interim analysis around the midpoint of enrollment (2H 2022).” 

The President and CEO of Vaccinex, Maurice Zauderer, Ph.D.

In the biotech industry, announcements like these are always exciting for investors to consider. With that in mind, will VCNX be on your penny stocks watchlist?


Are Penny Stocks Worth Buying?

The short answer to this question is that it is up to you and your trading strategy. With so many factors impacting the stock market right now, understanding how to buy penny stocks and why, will help you to make money with small caps.

[Read More] 4 ‘Must Watch’ Penny Stocks Making Big Moves After Latest News

But, investors should also understand that penny stocks are highly speculative and can gain or lose quickly and by large amounts. So, with all of that in mind, do you think that penny stocks are worth buying or not?

If you enjoyed this article and you’re interested in learning how to trade so you can have the best chance to profit consistently then you need to checkout this YouTube channel. CLICK HERE RIGHT NOW!

The post Trading Penny Stocks? Top Stock Market News for January 28th, 2022 appeared first on Penny Stocks to Buy, Picks, News and Information |

Read More

Continue Reading