Connect with us

Popular Penny Stocks to Buy in October? 3 For Your Watchlist

Are these penny stocks worth watching right now?
The post Popular Penny Stocks to Buy in October? 3 For Your Watchlist appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

Published

on

3 Penny Stocks That Are Popular With Retail Traders in October 

In the past year and a half, retail traders have taken penny stocks by storm. It’s worth noting that the term penny stocks itself simply implies any stock trading under $5. And given that retail traders tend to look for heightened volatility at times, penny stocks can be great options to choose from. But, in order to find the best penny stocks to buy, investors need to do the proper due diligence. 

This means conducting as much research as you possibly can. Specifically, investors should look for speculative events, balance sheets, upcoming announcements, and social media sentiment surrounding the company. These will all offer invaluable insight into how the penny stock could perform in either the short or long term.

[Read More] These Penny Stocks Jumped Today, Here’s What You Need to Know

In addition, it’s a great idea to have a thorough understanding of the underlying industry that the company works in. This could serve to underline any potential movement that the company could have. 

Because penny stocks can have such immense potential, it’s no wonder that retail traders often invest in them. These stocks offer a relatively cheap barrier-to-entry and large potential momentum that can be beneficial to smaller portfolios. So, keeping all of this in mind, let’s take a look at three popular penny stocks to watch in October 2021. 

3 Penny Stocks That Retail Traders Are Watching Right Now 

  1. ReShape Lifesciences Inc. (NASDAQ: RSLS
  2. ZW Data Action Technologies Inc. (NASDAQ: CNET
  3. Federal National Mortgage Association (OTC: FNMA

ReShape Lifesciences Inc. (NASDAQ: RSLS)

ReShape Lifesciences Inc. is a biotech penny stock that witnessed an over 30% spike on October 8th. While it has corrected since then, many investors are still showing interest in ReShape. This company offers medical devices for treating those with metabolic diseases and obesity. It offers the Lap-Band System and ReShape Vest, both to help with patients suffering from weight-related issues. Additionally, the company offers ReShapeCare virtual health which is a coaching program to enable healthy lifestyle changes.

The latest update from ReShape comes from August when it released its preliminary second-quarter financial results for 2021. Its reported revenue was $3.5 million compared to $1.7 million year over year, showing a 107% increase. From the first quarter of 2021, its revenue grew by 10%. In addition to this, it reported a gross profit of $2.1 million in the second quarter of 2021.

“The second quarter was an exceptional one for the Company. In this period, we completed our highly anticipated merger with Obalon Therapeutics, increased visibility in the financial markets by listing on the Nasdaq, and bolstered our diverse product portfolio with the launch of our online wellness hub, ReShape MarketPlace.”

The President and CEO of ReShape, Bart Bandy

While it is safe to say that RSLS stock is quite volatile, it looks like the company could have a lot to offer. Keeping all of this in mind, will RSLS make your list of penny stocks to watch?

ZW Data Action Technologies Inc. (NASDAQ: CNET)

ZW Data Action Technologies Inc. is a company that offers advertising, marketing, and data analysis services. The China-based company offers its services through its websites such as 28.com and liansuo.com. These provide advertisers the ability to build sales channels via franchisees, sales agents, and distributors among others. In the past five days or so, shares of CNET stock have shot up by around 5%. And while performance this year for CNET is nothing to write home about, it does look like there is some bullishness surrounding CNET stock right now.

[Read More] 5 Penny Stocks To Watch For October 2021 After Big News

On October 7th, the company launched it’s Blockchain Infrastructure Framework (BIF) for business applications. The company’s platform is for a variety of business applications utilizing non-fungible tokens and decentralized finance (NFT & DeFi). The BIF automation platform intends to provide all types of enterprises with one-stop creation, development, intelligent operations, and more application services. The company states that its BIF automation platform could have a potential market size of $150 billion USD.

“We are excited about the launch of our BIF Platform, as we are unwavering in creating and providing a digitized smart ecosystem and solution where all MSMEs could easily access secured blockchain-powered technologies and applications to rapidly adapt to different business scenarios. Going forward, we will continue focusing on the development of our blockchain technology and infrastructure to provide comprehensive solutions to all our users with various needs.”

Chairman and CEO of ZW Data, Handong Cheng

Considering all of this information, do you think that CNET stock is worth watching or not?

Penny_Stocks_to_Watch_ZW_Data_Action_Technologies_Inc_CNET_Stock

Federal National Mortgage Association (OTC: FNMA)

Federal National Mortgage Association (FNMA) is a penny stock that has seen its fair share of ups and downs throughout the pandemic. Despite being down by around 70% YTD, FNMA has seen some spikes during that time. If you’re unfamiliar, FNMA is a company that sources financing for mortgages. It offers both single-family and multifamily mortgage-related products. Additionally, the company offers credit risk and loss management services. Its main purpose is to securitize mortgage loans originated by lenders into Fannie Mae mortgage-backed securities.

On September 24th, the company extended multifamily protections for renters indefinitely. Its COVID-19 forbearance program has been extended with no end date in sight to give continued support to property owners and renters in multifamily units that are dealing with tough financial times. While this is not ideal for investors, it could offer long-term prospects instead of short-term gains.

“As financial and economic uncertainties around COVID-19 persist, Fannie Mae is committed to providing continued forbearance options for Fannie Mae multifamily borrowers. This will allow for the continuation of essential tenant protections to help keep renters in their apartments as the recovery process continues.”

Executive VP and Head of Multifamily at FNMA, Michele Evans

Right now, homes in the U.S. are hitting multi-decade high prices. And as a result, more people looking to buy homes are seeking larger loans. Because of this, investors are showing heightened interest in companies like Federal National Mortgage. With this information in mind, will FNMA be on your penny stock watchlist?

Penny_Stocks_to_Watch_Federal_National_Mortgage_Association_FNMA

Which Penny Stocks Are You Watching Right Now?

While investing in 2021 has not been easy, to say the least, there are plenty of opportunities to make money with penny stocks. And because of this, investors continue to look for the best penny stocks to buy.

[Read More] Best Penny Stocks Under $1 To Watch As Bitcoin Cracks $58,000

As always, traders should make sure that they have done all the research available to ensure that they know exactly what they’re getting into. With that in mind, which penny stocks are you watching right now?

The post Popular Penny Stocks to Buy in October? 3 For Your Watchlist appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

Read More

Continue Reading

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.

Published

on

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.   

Read More

Continue Reading

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…

Published

on

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

Read More

Continue Reading

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…

Published

on

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

Read More

Continue Reading

Trending