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Penny Stocks to Buy During the Cryptocurrency Boom? Here’s 3 to Watch

Penny stocks are benefitting from the cryptocurrency boom; here’s 3 to watch
The post Penny Stocks to Buy During the Cryptocurrency Boom? Here’s 3 to Watch appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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3 Penny Stocks to Watch as Crypto Fuels Momentum 

As penny stocks and cryptocurrency both see solid momentum, which companies are investors watching right now? Well, before we go into it, it’s worth identifying the differences and similarities between the two. 

For starters, the majority of cryptocurrencies are relatively cheap. While there are standouts like Bitcoin and Ethereum, most crypto’s like the popular DogeCoin, are well under $5. Given that all penny stocks are by nature under $5, we see a stark comparison between the two. 

While penny stocks and cryptocurrencies do not usually trade in tandem with one another, often, one can inspire momentum with the other. This is especially true considering trading platforms like Robinhood. Robinhood has become extremely popular for both stock and crypto investors. This is because no other app allows you to buy both with as much ease as Robinhood does. And while it may not allow access to over-the-counter markets, there are plenty of penny stocks to buy on Robinhood

[Read More] 4 Penny Stocks On Robinhood To Buy Under $1; 50%-270% Price Targets

Another reason that the two can be compared easily is that both offer the potential to see large intraday gains. This is not to say that blue chips do not allow for this, but rather, it’s much more likely to see a $0.10 stock go to $0.20 than it is to see a $100 stock go to $200 in a single day. Considering all of this, let’s take a look at three penny stocks to watch as the cryptocurrency craze continues to fuel momentum. 

3 Penny Stocks to Watch With Cryptocurrency in Focus 

  1. Obalon Therapeutics Inc. (NASDAQ: OBLN
  2. SeaChange International Inc. (NASDAQ: SEAC
  3. Moxian Inc. (NASDAQ: MOXC)

1. Obalon Therapeutics Inc. (NASDAQ: OBLN) 

One of the penny stocks showing high volume on April 19th is Obalon Therapeutics. Up around 7% on the day, Obalon is a medical tech company working in the weight loss industry. Its flagship product is a swallowable, gas-filled intragastric balloon system.

This system is the first and only FDA-approved product of its kind and works by shrinking the available area in the stomach. This serves to decrease hunger and encourage weight loss. While OBLN has not announced any major news in the past few weeks, a big development that came out a few months ago could be sparking the recent rally. 

On November 10th, Obalon announced a definitive merger agreement with ReShape Lifesciences Inc. (OTC:RSLS) While there is no concrete timeline for when this deal will be completed, the two will reportedly trade under the ReShape name with the new ticker symbol RSLS. So while we wait for this merger to finish up, let’s take a closer look at Obalon. In its fourth-quarter results released a few weeks ago, the company announced $0.1 million in revenue. For the full year, it brought in roughly $1.3 million in total revenue. 

[Read More] Top Penny Stocks Today? 3 Cheap Stocks to Watch

There are two factors that investors should consider here. On one hand, the intragastric balloon system has not yet been commercialized. This means that Obalon is still in the early stages of seeing revenue from this device. 

On the other hand, it had to halt operations during the fourth quarter as a result of the Covid pandemic. This is another reason why revenue was so low during that period. So to understand Obalon, investors should consider the above factors before making a decision. Whether or not it is a penny stock to watch is up to you. 

2. SeaChange International Inc. (NASDAQ: SEAC) 

While you may not have heard of SEAC stock, it has become a big name in the online entertainment market. SeaChange International is a provider of cloud and on-premises platform services including TV, on-demand video, and end-to-end solutions. These products are used by millions of users regularly. 

It also allows content owners to provide cost-effective direct-to-consumer video streaming services for management and monetization purposes. Its offerings are available across Smart-TVs, mobile devices, and Set-Top Boxes. These provide it with a very broad consumer base to work from. 

[Read More] Are Penny Stocks Worth It? 5 Lessons For New Traders

Only a few weeks ago, SeaChange announced a multi-year, multi-million contract with one of the largest broadband service providers in the U.S. While the provider in question remains unnamed, the company states that it will be providing a platform to help convert the companies existing hardware to a virtual platform. In regard to this, a company executive offered a statement.

“Longstanding customers like this major broadband service provider continue to expand the use of SeaChange’s technology and are increasingly benefitting from our ad technology that facilities cross-platform and dynamic advertising solutions for cable and IP video delivery. This major win, which combines license and service components, marks one of the highest average values of any North American contract in more than two years.” 

Christoph Klimmer, SVP of Global Sales and Marketing at SeaChange

He goes on to state that this deal will further solidify both SeaChange’s go-to-market strategy as well as its role in the video services industry. While this is only one exciting announcement, it could help to inspire confidence in SeaChange’s business model. Considering this, is SEAC a penny stock to watch?

Penny_Stocks_to_Watch_SeaChange International Inc. (SEAC Stock Chart)

3. Moxian Inc. (NASDAQ: MOXC) 

Based in China, Moxian is an O2O (online-to-offline) integrated platform operator, providing social media services and internet media marketing products. Its platform allows for customers to interact with merchants such as small and medium-sized businesses. While no big news has come out of Moxian in the past month or so, we can look at previous announcements to see where MOXC stock is at right now. 

In corporate filings announced earlier in the month, we see that on March 11th, the Director of the company, William Yap Guan bought 18,600 shares at an average price of $1.25 per share. This can usually be viewed as a positive, as any time an insider buys shares, it shows institutional confidence to investors. While this should also be taken with a grain of salt, it is an encouraging sign for MOXC’s business. 

One thing to consider is that many investors tend to view MOXC as a reopening penny stock. Before we go into why it’s worth discussing what a reopening penny stock is. This term is used to define any company that is benefitting from states and countries reopening as the pandemic lessens in severity. For example, many entertainment stocks have pushed upward in value as governments have eased Covid-related restrictions. So why exactly is Moxian a part of this category? 

Well, its platform allows for commerce to be done between consumers and physical businesses. Additionally, because many retail businesses are struggling in the current Covid-economy, several companies are looking to advertise as a way to secure financial stability. Moxian offers digital advertising services, which could be a benefit to companies looking to find more customers right now. Considering all of this, is MOXC worth watching?

Penny_Stocks_to_Watch_Moxian

The post Penny Stocks to Buy During the Cryptocurrency Boom? Here’s 3 to Watch appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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International

Beloved mall retailer files Chapter 7 bankruptcy, will liquidate

The struggling chain has given up the fight and will close hundreds of stores around the world.

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It has been a brutal period for several popular retailers. The fallout from the covid pandemic and a challenging economic environment have pushed numerous chains into bankruptcy with Tuesday Morning, Christmas Tree Shops, and Bed Bath & Beyond all moving from Chapter 11 to Chapter 7 bankruptcy liquidation.

In all three of those cases, the companies faced clear financial pressures that led to inventory problems and vendors demanding faster, or even upfront payment. That creates a sort of inevitability.

Related: Beloved retailer finds life after bankruptcy, new famous owner

When a retailer faces financial pressure it sets off a cycle where vendors become wary of selling them items. That leads to barren shelves and no ability for the chain to sell its way out of its financial problems. 

Once that happens bankruptcy generally becomes the only option. Sometimes that means a Chapter 11 filing which gives the company a chance to negotiate with its creditors. In some cases, deals can be worked out where vendors extend longer terms or even forgive some debts, and banks offer an extension of loan terms.

In other cases, new funding can be secured which assuages vendor concerns or the company might be taken over by its vendors. Sometimes, as was the case with David's Bridal, a new owner steps in, adds new money, and makes deals with creditors in order to give the company a new lease on life.

It's rare that a retailer moves directly into Chapter 7 bankruptcy and decides to liquidate without trying to find a new source of funding.

Mall traffic has varied depending upon the type of mall.

Image source: Getty Images

The Body Shop has bad news for customers  

The Body Shop has been in a very public fight for survival. Fears began when the company closed half of its locations in the United Kingdom. That was followed by a bankruptcy-style filing in Canada and an abrupt closure of its U.S. stores on March 4.

"The Canadian subsidiary of the global beauty and cosmetics brand announced it has started restructuring proceedings by filing a Notice of Intention (NOI) to Make a Proposal pursuant to the Bankruptcy and Insolvency Act (Canada). In the same release, the company said that, as of March 1, 2024, The Body Shop US Limited has ceased operations," Chain Store Age reported.

A message on the company's U.S. website shared a simple message that does not appear to be the entire story.

"We're currently undergoing planned maintenance, but don't worry we're due to be back online soon."

That same message is still on the company's website, but a new filing makes it clear that the site is not down for maintenance, it's down for good.

The Body Shop files for Chapter 7 bankruptcy

While the future appeared bleak for The Body Shop, fans of the brand held out hope that a savior would step in. That's not going to be the case. 

The Body Shop filed for Chapter 7 bankruptcy in the United States.

"The US arm of the ethical cosmetics group has ceased trading at its 50 outlets. On Saturday (March 9), it filed for Chapter 7 insolvency, under which assets are sold off to clear debts, putting about 400 jobs at risk including those in a distribution center that still holds millions of dollars worth of stock," The Guardian reported.

After its closure in the United States, the survival of the brand remains very much in doubt. About half of the chain's stores in the United Kingdom remain open along with its Australian stores. 

The future of those stores remains very much in doubt and the chain has shared that it needs new funding in order for them to continue operating.

The Body Shop did not respond to a request for comment from TheStreet.   

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Government

Are Voters Recoiling Against Disorder?

Are Voters Recoiling Against Disorder?

Authored by Michael Barone via The Epoch Times (emphasis ours),

The headlines coming out of the Super…

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Are Voters Recoiling Against Disorder?

Authored by Michael Barone via The Epoch Times (emphasis ours),

The headlines coming out of the Super Tuesday primaries have got it right. Barring cataclysmic changes, Donald Trump and Joe Biden will be the Republican and Democratic nominees for president in 2024.

(Left) President Joe Biden delivers remarks on canceling student debt at Culver City Julian Dixon Library in Culver City, Calif., on Feb. 21, 2024. (Right) Republican presidential candidate and former U.S. President Donald Trump stands on stage during a campaign event at Big League Dreams Las Vegas in Las Vegas, Nev., on Jan. 27, 2024. (Mario Tama/Getty Images; David Becker/Getty Images)

With Nikki Haley’s withdrawal, there will be no more significantly contested primaries or caucuses—the earliest both parties’ races have been over since something like the current primary-dominated system was put in place in 1972.

The primary results have spotlighted some of both nominees’ weaknesses.

Donald Trump lost high-income, high-educated constituencies, including the entire metro area—aka the Swamp. Many but by no means all Haley votes there were cast by Biden Democrats. Mr. Trump can’t afford to lose too many of the others in target states like Pennsylvania and Michigan.

Majorities and large minorities of voters in overwhelmingly Latino counties in Texas’s Rio Grande Valley and some in Houston voted against Joe Biden, and even more against Senate nominee Rep. Colin Allred (D-Texas).

Returns from Hispanic precincts in New Hampshire and Massachusetts show the same thing. Mr. Biden can’t afford to lose too many Latino votes in target states like Arizona and Georgia.

When Mr. Trump rode down that escalator in 2015, commentators assumed he’d repel Latinos. Instead, Latino voters nationally, and especially the closest eyewitnesses of Biden’s open-border policy, have been trending heavily Republican.

High-income liberal Democrats may sport lawn signs proclaiming, “In this house, we believe ... no human is illegal.” The logical consequence of that belief is an open border. But modest-income folks in border counties know that flows of illegal immigrants result in disorder, disease, and crime.

There is plenty of impatience with increased disorder in election returns below the presidential level. Consider Los Angeles County, America’s largest county, with nearly 10 million people, more people than 40 of the 50 states. It voted 71 percent for Mr. Biden in 2020.

Current returns show county District Attorney George Gascon winning only 21 percent of the vote in the nonpartisan primary. He’ll apparently face Republican Nathan Hochman, a critic of his liberal policies, in November.

Gascon, elected after the May 2020 death of counterfeit-passing suspect George Floyd in Minneapolis, is one of many county prosecutors supported by billionaire George Soros. His policies include not charging juveniles as adults, not seeking higher penalties for gang membership or use of firearms, and bringing fewer misdemeanor cases.

The predictable result has been increased car thefts, burglaries, and personal robberies. Some 120 assistant district attorneys have left the office, and there’s a backlog of 10,000 unprosecuted cases.

More than a dozen other Soros-backed and similarly liberal prosecutors have faced strong opposition or have left office.

St. Louis prosecutor Kim Gardner resigned last May amid lawsuits seeking her removal, Milwaukee’s John Chisholm retired in January, and Baltimore’s Marilyn Mosby was defeated in July 2022 and convicted of perjury in September 2023. Last November, Loudoun County, Virginia, voters (62 percent Biden) ousted liberal Buta Biberaj, who declined to prosecute a transgender student for assault, and in June 2022 voters in San Francisco (85 percent Biden) recalled famed radical Chesa Boudin.

Similarly, this Tuesday, voters in San Francisco passed ballot measures strengthening police powers and requiring treatment of drug-addicted welfare recipients.

In retrospect, it appears the Floyd video, appearing after three months of COVID-19 confinement, sparked a frenzied, even crazed reaction, especially among the highly educated and articulate. One fatal incident was seen as proof that America’s “systemic racism” was worse than ever and that police forces should be defunded and perhaps abolished.

2020 was “the year America went crazy,” I wrote in January 2021, a year in which police funding was actually cut by Democrats in New York, Los Angeles, San Francisco, Seattle, and Denver. A year in which young New York Times (NYT) staffers claimed they were endangered by the publication of Sen. Tom Cotton’s (R-Ark.) opinion article advocating calling in military forces if necessary to stop rioting, as had been done in Detroit in 1967 and Los Angeles in 1992. A craven NYT publisher even fired the editorial page editor for running the article.

Evidence of visible and tangible discontent with increasing violence and its consequences—barren and locked shelves in Manhattan chain drugstores, skyrocketing carjackings in Washington, D.C.—is as unmistakable in polls and election results as it is in daily life in large metropolitan areas. Maybe 2024 will turn out to be the year even liberal America stopped acting crazy.

Chaos and disorder work against incumbents, as they did in 1968 when Democrats saw their party’s popular vote fall from 61 percent to 43 percent.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

Tyler Durden Sat, 03/09/2024 - 23:20

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Government

Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The…

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Veterans Affairs Kept COVID-19 Vaccine Mandate In Place Without Evidence

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The U.S. Department of Veterans Affairs (VA) reviewed no data when deciding in 2023 to keep its COVID-19 vaccine mandate in place.

Doses of a COVID-19 vaccine in Washington in a file image. (Jacquelyn Martin/Pool/AFP via Getty Images)

VA Secretary Denis McDonough said on May 1, 2023, that the end of many other federal mandates “will not impact current policies at the Department of Veterans Affairs.”

He said the mandate was remaining for VA health care personnel “to ensure the safety of veterans and our colleagues.”

Mr. McDonough did not cite any studies or other data. A VA spokesperson declined to provide any data that was reviewed when deciding not to rescind the mandate. The Epoch Times submitted a Freedom of Information Act for “all documents outlining which data was relied upon when establishing the mandate when deciding to keep the mandate in place.”

The agency searched for such data and did not find any.

The VA does not even attempt to justify its policies with science, because it can’t,” Leslie Manookian, president and founder of the Health Freedom Defense Fund, told The Epoch Times.

“The VA just trusts that the process and cost of challenging its unfounded policies is so onerous, most people are dissuaded from even trying,” she added.

The VA’s mandate remains in place to this day.

The VA’s website claims that vaccines “help protect you from getting severe illness” and “offer good protection against most COVID-19 variants,” pointing in part to observational data from the U.S. Centers for Disease Control and Prevention (CDC) that estimate the vaccines provide poor protection against symptomatic infection and transient shielding against hospitalization.

There have also been increasing concerns among outside scientists about confirmed side effects like heart inflammation—the VA hid a safety signal it detected for the inflammation—and possible side effects such as tinnitus, which shift the benefit-risk calculus.

President Joe Biden imposed a slate of COVID-19 vaccine mandates in 2021. The VA was the first federal agency to implement a mandate.

President Biden rescinded the mandates in May 2023, citing a drop in COVID-19 cases and hospitalizations. His administration maintains the choice to require vaccines was the right one and saved lives.

“Our administration’s vaccination requirements helped ensure the safety of workers in critical workforces including those in the healthcare and education sectors, protecting themselves and the populations they serve, and strengthening their ability to provide services without disruptions to operations,” the White House said.

Some experts said requiring vaccination meant many younger people were forced to get a vaccine despite the risks potentially outweighing the benefits, leaving fewer doses for older adults.

By mandating the vaccines to younger people and those with natural immunity from having had COVID, older people in the U.S. and other countries did not have access to them, and many people might have died because of that,” Martin Kulldorff, a professor of medicine on leave from Harvard Medical School, told The Epoch Times previously.

The VA was one of just a handful of agencies to keep its mandate in place following the removal of many federal mandates.

“At this time, the vaccine requirement will remain in effect for VA health care personnel, including VA psychologists, pharmacists, social workers, nursing assistants, physical therapists, respiratory therapists, peer specialists, medical support assistants, engineers, housekeepers, and other clinical, administrative, and infrastructure support employees,” Mr. McDonough wrote to VA employees at the time.

This also includes VA volunteers and contractors. Effectively, this means that any Veterans Health Administration (VHA) employee, volunteer, or contractor who works in VHA facilities, visits VHA facilities, or provides direct care to those we serve will still be subject to the vaccine requirement at this time,” he said. “We continue to monitor and discuss this requirement, and we will provide more information about the vaccination requirements for VA health care employees soon. As always, we will process requests for vaccination exceptions in accordance with applicable laws, regulations, and policies.”

The version of the shots cleared in the fall of 2022, and available through the fall of 2023, did not have any clinical trial data supporting them.

A new version was approved in the fall of 2023 because there were indications that the shots not only offered temporary protection but also that the level of protection was lower than what was observed during earlier stages of the pandemic.

Ms. Manookian, whose group has challenged several of the federal mandates, said that the mandate “illustrates the dangers of the administrative state and how these federal agencies have become a law unto themselves.”

Tyler Durden Sat, 03/09/2024 - 22:10

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