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Popular Penny Stocks to Buy Right Now? 7 For Your Watchlist

Trending penny stocks can be a great addition to your watchlist, here’s 7 popular small-caps for your list
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7 Penny Stocks That Traders Are Watching Right Now

With penny stocks heating up right now, traders continue to search for the best small caps to watch. One of the best ways to make a penny stocks watchlist is to consider which companies are trending right now. This can be done by researching on social media sites such as Reddit and Twitter as well as seeing the social sentiment of the underlying penny stocks. The entire list of penny stocks contains hundreds of companies. 

[Read More] Hot Penny Stocks to Buy For the Rest of 2021? Check These 8 Out

And to some degree, there could be an opportunity with a large number of them. However, to see which those are, investors need to pour through the data and understand the trajectory that a company could take. Right now, investors need to consider what factors are affecting the market. This includes Covid, but also the impact of social media as mentioned earlier. So, with all of this in mind, let’s take a look at seven penny stocks for your watchlist. 

4 Penny Stocks to Watch Right Now 

  1. Hut 8 Mining Corp. (NASDAQ: HUT)
  2. W&T Offshore Inc. (NYSE: WTI
  3. Ring Energy Inc. (NYSE: REI
  4. Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP)

Hut 8 Mining Corp. (NASDAQ: HUT)

Hut 8 Mining Corp. is a penny stock that has taken off in value recently. As its name slightly suggests, HUT offers cryptocurrency mining. Specifically, it engages in industrial-scale Bitcoin mining operations in Toronto, Canada. It also owns and operates 38 BlockBoxes in Drumheller, Alberta. Additionally Hut 8 has 56 BlockBoxes in Medicine Hat, Alberta.

On June 30th, Hut 8 announced the purchase of 12,000 new MicroBT miners for deployment by the end of the fourth quarter of 2021. The $44.373 million purchase will significantly increase Hut 8’s progress. 

The CEO of Hut 8 Mining, Jaime Leverton said, “We are excited to have identified this unique opportunity to purchase MicroBT equipment that will enable us to almost double our hash rate before the end of the year and substantially increase the number of Bitcoins earned on a daily basis”.

Now on July 1st, HUT stock is up 7.70% in the market. While Bitcoin does fluctuate greatly, it’s worth considering that it remains the most popular cryptocurrency out there. For this reason, this looks like it could be big news for investors and the company alike. Considering this, will HUT stock make it onto your list of penny stocks to watch?

W&T Offshore Inc. (NYSE: WTI)

W&T Offshore Inc. is an oil and gas penny stock based in the United States. The company produces, acquires, explores, and develops oil and natural gas properties. With this, it sells crude oil, natural gas, and other fossil fuel-related resources. It currently holds a working interest in 43 offshore fields in federal and state waters. It also has an interest in 146 offshore structures which is quite a substantial number. The company’s offshore leases cover 506,000 net acres. As of December 31st, 2020, the company had 144.4 million proved reserves of oil barrels equivalent.

[Read More] Top Penny Stocks To Buy Now? 10 To Watch As AMC Volatility Continues

In the past year, shares of WTI stock have shot up by over 120%. This is due to both the positive momentum surrounding WTI as well as the increased demand for oil and gas as the pandemic ends. Recently W&T announced its participation in multiple upcoming investor conferences. The company will be at the Stifel 2021 Virtual Cross Sector Insight Conference, the Bank of America Securities Virtual 2021 Energy Credit Conference, and more.

In one month, WTI stock has gone from $4.30 per share to over $5 per share on average. This means that WTI has technically surpassed penny stock status as it closed today past $5. With all of this information in mind, is this company a contender for your penny stock watchlist in July 2021?

Penny_Stocks_to_Watch_W&T_Offshore_Inc_WTI_Stock_Chart

Ring Energy Inc. (NYSE: REI)

Ring Energy Inc. is an energy penny stock that focuses on fossil fuel exploration and production. The company acquires, explores for, develops, and produces oil and natural gas. As of December 31st, 2020, the company had proven reserves of 76.5 million barrels of oil equivalent. It also has a net interest in 18,712 net developed acres and 6,650 net undeveloped acres of land in multiple Texan regions. Additionally, it holds a variety of other net developed and net undeveloped acres of land in other places as well. Its oil and natural gas are sold to end-users, marketers, and regular purchasers. On June 16th, Ring Energy provided an update on its Northwest Shelf Phase II development program.

“The continued successful results from our development program are very encouraging and reinforce our confidence in the strong inventory of drilling locations on our NWS acreage. In addition to the strong production results, all seven wells in our Phase I and Phase II programs were drilled and completed on schedule and within budget.”

The Chairman of the Board and CEO Mr. Paul D. McKinney

6 months ago, REI stock was worth under $0.70 per share on average. Now as of July 1st, REI stock is worth more than $3.22 per share on average. The company’s volume right now is also more than double its average at the moment. Keeping this in mind, is REI going to make it on your list of penny stocks to watch?

Penny_Stocks_to_Watch_Ring_Energy_Inc._(REI_Stock_Chart)

Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP)

Tonix Pharmaceuticals Holding Corp. is a biotech penny stock that is moving upwards in the market right now. This company discovers, acquires, develops, and licenses small molecules and biologics. These are used to treat and prevent human diseases and reduce suffering. 

One of Tonix’s developments that caught attention is its TNX-1800 live replicating vaccine created to protect against Covid-19. It also has TNX-2300, which is another product that is used in the fight against Covid-19. Biotech penny stocks with a big focus on Covid-19 developments are extremely popular right now and continue to be due to the new variants of Covid. On June 28th it was announced that the company has been added to the Russell 2000 and Russell 3000 indexes. 

“Tonix is pleased to be included in the Russell indexes which reflects our positive achievements and growth over the past year. These indexes are widely followed and we look forward to a broader awareness of our Company as a result of this inclusion.”

The President and CEO of Tonix Pharmaceuticals Holding Corp.

With all of this information in mind, will TNXP make your penny stock watchlist this week?

Penny_Stocks_to_Watch_Tonix Pharmaceutical Holding Corp. (TNXP Stock Chart)

3 More Penny Stocks to Watch 

  1. Barnwell Industries Inc. (NYSE: BRN
  2. Ibio Inc. (NYSE: IBIO
  3. Ur-Energy Inc. (NYSE: URG

Why Trending Penny Stocks Could Be Valuable 

Finding the hottest trending penny stocks can be a valuable strategy. However, it’s worth noting that these companies also tend to be some of the most volatile out there. If volatility is a part of your strategy then this could be a benefit.

[Read More] Trading Penny Stocks? 7 Things to Know For Beginners

But, if you’re more of a conservative investor then volatility could play against you. With all of this in mind, there’s plenty of reasons that trending penny stocks can be valuable. And, it’s up to you to find the best ones to watch. 

The post Popular Penny Stocks to Buy Right Now? 7 For Your Watchlist appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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There Goes The Fed’s Inflation Target: Goldman Sees Terminal Rate 100bps Higher At 3.5%

There Goes The Fed’s Inflation Target: Goldman Sees Terminal Rate 100bps Higher At 3.5%

Two years ago, we first said that it’s only a matter…

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There Goes The Fed's Inflation Target: Goldman Sees Terminal Rate 100bps Higher At 3.5%

Two years ago, we first said that it's only a matter of time before the Fed admits it is unable to rsolve the so-called "last mile" of inflation and that as a result, the old inflation target of 2% is no longer viable.

Then one year ago, we correctly said that while everyone was paying attention elsewhere, the inflation target had already been hiked to 2.8%... on the way to even more increases.

And while the Fed still pretends it can one day lower inflation to 2% even as it prepares to cut rates as soon as June, moments ago Goldman published a note from its economics team which had to balls to finally call a spade a spade, and concluded that - as party of the Fed's next big debate, i.e., rethinking the Neutral rate - both the neutral and terminal rate, a polite euphemism for the inflation target, are much higher than conventional wisdom believes, and that as a result Goldman is "penciling in a terminal rate of 3.25-3.5% this cycle, 100bp above the peak reached last cycle."

There is more in the full Goldman note, but below we excerpt the key fragments:

We argued last cycle that the long-run neutral rate was not as low as widely thought, perhaps closer to 3-3.5% in nominal terms than to 2-2.5%. We have also argued this cycle that the short-run neutral rate could be higher still because the fiscal deficit is much larger than usual—in fact, estimates of the elasticity of the neutral rate to the deficit suggest that the wider deficit might boost the short-term neutral rate by 1-1.5%. Fed economists have also offered another reason why the short-term neutral rate might be elevated, namely that broad financial conditions have not tightened commensurately with the rise in the funds rate, limiting transmission to the economy.

Over the coming year, Fed officials are likely to debate whether the neutral rate is still as low as they assumed last cycle and as the dot plot implies....

...Translation: raising the neutral rate estimate is also the first step to admitting that the traditional 2% inflation target is higher than previously expected. And once the Fed officially crosses that particular Rubicon, all bets are off.

... Their thinking is likely to be influenced by distant forward market rates, which have risen 1-2pp since the pre-pandemic years to about 4%; by model-based estimates of neutral, whose earlier real-time values have been revised up by roughly 0.5pp on average to about 3.5% nominal and whose latest values are little changed; and by their perception of how well the economy is performing at the current level of the funds rate.

The bank's conclusion:

We expect Fed officials to raise their estimates of neutral over time both by raising their long-run neutral rate dots somewhat and by concluding that short-run neutral is currently higher than long-run neutral. While we are fairly confident that Fed officials will not be comfortable leaving the funds rate above 5% indefinitely once inflation approaches 2% and that they will not go all the way back to 2.5% purely in the name of normalization, we are quite uncertain about where in between they will ultimately land.

Because the economy is not sensitive enough to small changes in the funds rate to make it glaringly obvious when neutral has been reached, the terminal or equilibrium rate where the FOMC decides to leave the funds rate is partly a matter of the true neutral rate and partly a matter of the perceived neutral rate. For now, we are penciling in a terminal rate of 3.25-3.5% this cycle, 100bps above the peak reached last cycle. This reflects both our view that neutral is higher than Fed officials think and our expectation that their thinking will evolve.

Not that this should come as a surprise: as a reminder, with the US now $35.5 trillion in debt and rising by $1 trillion every 100 days, we are fast approaching the Minsky Moment, which means the US has just a handful of options left: losing the reserve currency status, QEing the deficit and every new dollar in debt, or - the only viable alternative - inflating it all away. The only question we had before is when do "serious" economists make the same admission.

They now have.

And while we have discussed the staggering consequences of raising the inflation target by just 1% from 2% to 3% on everything from markets, to economic growth (instead of doubling every 35 years at 2% inflation target, prices would double every 23 years at 3%), and social cohesion, we will soon rerun the analysis again as the implications are profound. For now all you need to know is that with the US about to implicitly hit the overdrive of dollar devaluation, anything that is non-fiat will be much more preferable over fiat alternatives.

Much more in the full Goldman note available to pro subs in the usual place.

Tyler Durden Tue, 03/19/2024 - 15:45

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Household Net Interest Income Falls As Rates Spike

A Bloomberg article from this morning offered an excellent array of charts detailing the shifts in interest payment flows amid rising rates. The historical…

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A Bloomberg article from this morning offered an excellent array of charts detailing the shifts in interest payment flows amid rising rates. The historical anomaly was both surprising and contradicted our priors.

10 Key Points:

  1. Historical Anomaly: This is the first time in the last fifty years that a Federal Reserve rate hike cycle has led to a significant drop in household net interest income.
  2. Interest Expense Increase: Since the Fed began raising rates in March 2022, Americans’ annual interest expenses on debts like mortgages and credit cards have surged by nearly $420 billion.
  3. Interest Income Lag: The increase in interest income during the same period was only about $280 billion, resulting in a net decline in household interest income, a departure from past trends.
  4. Consumer Debt Influence: The recent rate hikes impacted household finances more because of a higher proportion of consumer credit, which adjusts more quickly to rate changes, increasing interest costs.
  5. Banks and Savers: Banks have been slow to pass on higher interest rates to depositors, and the prolonged period of low rates before 2022 may have discouraged savers from actively seeking better returns.
  6. Shift in Wealth: There’s been a shift from interest-bearing assets to stocks, with dividends surpassing interest payments as a source of unearned income during the pandemic.
  7. Distributional Discrepancy: Higher interest rates benefit wealthier individuals who own interest-earning assets, whereas lower-income earners face the brunt of increased debt servicing costs, exacerbating economic inequality.
  8. Job Market Impact: Typically, Fed rate hikes affect households through the job market, as businesses cut costs, potentially leading to layoffs or wage suppression, though this hasn’t occurred yet in the current cycle.
  9. Economic Impact: The distribution of interest income and debt servicing means that rate increases transfer money from those more likely to spend (and thus stimulate the economy) to those less likely to increase consumption, potentially dampening economic activity.
  10. No Immediate Relief: Expectations for the Fed to reduce rates have diminished, indicating that high-interest expenses for households may persist.

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One more airline cracks down on lounge crowding in a way you won’t like

Qantas Airways is increasing the price of accessing its network of lounges by as much as 17%.

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Over the last two years, multiple airlines have dealt with crowding in their lounges. While they are designed as a luxury experience for a small subset of travelers, high numbers of people taking a trip post-pandemic as well as the different ways they are able to gain access through status or certain credit cards made it difficult for some airlines to keep up with keeping foods stocked, common areas clean and having enough staff to serve bar drinks at the rate that customers expect them.

In the fall of 2023, Delta Air Lines  (DAL)  caught serious traveler outcry after announcing that it was cracking down on crowding by raising how much one needs to spend for lounge access and limiting the number of times one can enter those lounges.

Related: Competitors pushed Delta to backtrack on its lounge and loyalty program changes

Some airlines saw the outcry with Delta as their chance to reassure customers that they would not raise their fees while others waited for the storm to pass to quietly implement their own increases.

A photograph captures a Qantas Airways lounge in Sydney, Australia.

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This is how much more you'll have to pay for Qantas lounge access

Australia's flagship carrier Qantas Airways  (QUBSF)  is the latest airline to announce that it would raise the cost accessing the 24 lounges across the country as well as the 600 international lounges available at airports across the world through partner airlines.

More Travel:

Unlike other airlines which grant access primarily after reaching frequent flyer status, Qantas also sells it through a membership — starting from April 18, 2024, prices will rise from $600 Australian dollars ($392 USD)  to $699 AUD ($456 USD) for one year, $1,100 ($718 USD) to $1,299 ($848 USD) for two years and $2,000 AUD ($1,304) to lock in the rate for four years.

Those signing up for lounge access for the first time also currently pay a joining fee of $99 AUD ($65 USD) that will rise to $129 AUD ($85 USD).

The airline also allows customers to purchase their membership with Qantas Points they collect through frequent travel; the membership fees are also being raised by the equivalent amount in points in what adds up to as much as 17% — from 308,000 to 399,900 to lock in access for four years.

Airline says hikes will 'cover cost increases passed on from suppliers'

"This is the first time the Qantas Club membership fees have increased in seven years and will help cover cost increases passed on from a range of suppliers over that time," a Qantas spokesperson confirmed to Simple Flying. "This follows a reduction in the membership fees for several years during the pandemic."

The spokesperson said the gains from the increases will go both towards making up for inflation-related costs and keeping existing lounges looking modern by updating features like furniture and décor.

While the price increases also do not apply for those who earned lounge access through frequent flyer status or change what it takes to earn that status, Qantas is also introducing even steeper increases for those renewing a membership or adding additional features such as spouse and partner memberships.

In some cases, the cost of these features will nearly double from what members are paying now.

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