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Robinhood IPO: what you need to know

The long-awaited Robinhood IPO is imminent. Is this a savvy investment? How does Robinhood make money and is its business model sustainable?
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Trading app Robinhood Markets Inc.’s long-anticipated initial public offering (IPO) is expected to go live later this month. Robinhood shares will be available to the public on the NASDAQ stock exchange under the ticker “HOOD.”

Robinhood filed an amended S-1 form with the Securities and Exchange Commission (SEC) on July 19, 2021.

According to this, Robinhood intends to sell around 52.4 million shares, and some of its significant shareholders (e.g., Ribbit Capital, DST Global, Index Ventures) will sell approximately 2.6 million. The price they hope to fetch will range between $38 and $42 a share.

Altogether, it hopes to raise around $2.2 billion, which will give it a market cap of around $33 billion. This is less than the $40 – $50 billion figure the company was touted to make a few months ago.

However, one unique aspect of Robinhood’s IPO is it’s reserving up to 35% of its shares for its customers to purchase at IPO price. This makes predicting its IPO valuation more difficult because analysts have to consider demand from both the institutional and retail sides.



A brief history of Robinhood

Founded in 2013 by Baiju Bhatt and Vlad Tenev, Robinhood has amassed considerable institutional support and raised $5.6 billion through 23 funding rounds (according to Crunchbase).

Iconic rap legend Snoop Dogg was one of Robinhood’s very first investors. He invested back in 2014 in a $13 million Series A funding round.

In 2020, the company again sold shares privately, achieving a close to $12 billion valuation.

This past year its popularity has exploded, driven by the pandemic lockdowns and a rise in retail investor interest.

The GameStop (NYSE: GME) short-squeeze controversy in late January further fuelled this retail boom. In a phenomenon that saw online forum Redditt rally an onslaught of new investors to invest in so-called ‘meme stocks’ such as GameStop and AMC Entertainment (NYSE: AMC).

The majority of this trading was done via Robinhood due to its commission-free status.

The trouble is, while Robinhood appeals to the masses with an altruistic ethos democratizing the investing landscape, it uses several shady practices attracting increasing scrutiny.

The Robinhood app acts as a casino or gaming company, incentivizing in an opaque manner.

Robinhood Crypto Pie Offer

How Robinhood makes money

Historically, beginners to investing were restricted by the amount of spare cash they had to get started.

The beauty of Robinhood is that anyone can trade stocks with as little as a dollar. This is possible because it allows the buying and selling of fractional shares.

Traditional brokerage firms charge high commissions, and you need a few thousand dollars to stand any chance of making even a modest return.

Robinhood doesn’t charge a commission, so the barrier to entry is low.

So, how does Robinhood make money?

It sells consumer trading data to big firms. This process is called ‘payment for order flow.’

This means it routes its customer’s orders via market makers. Robinhood receives a nominal payment for each order. These small fees soon add up and Payment for order flow accounts for over 80% of Robinhood’s revenue.

Meanwhile, Net Interest Revenues account for around 12% of Robinhood’s total revenue.

The other 8% of revenues come from a variety of additional income streams. These include premium membership fees, interchange fees linked to its debit card, lending stocks on margin, interest on uninvested cash, and various additional revenue streams.

Robinhood Gold is a paid subscription service offering upgraded services. These include professional research, improved instant access to deposits, NASDAQ Level II market data, and access to margin investing for approved users.

Stocks, options, and crypto trading

While users buy and sell stocks in the traditional manner, many are drawn into derivatives trading. This includes buying and selling call and put options. And is a much riskier style of investing that without discipline and careful risk management, can quickly spiral out of control.

Margin Call
Photographer: Frank Busch | Source: Unsplash

Many options dealers trade on margin, which means debt. If their trades don’t go to plan, they may face a margin call. This is where Robinhood closes the positions, causing the customer to lose money while ensuring Robinhood stays solvent.

As well as stocks and options, Robinhood allows cryptocurrency trading. It currently offers seven digital coins, including Bitcoin, Ethereum, Dogecoin, and Litecoin.

Photographer: Executium | Source: Unsplash

Crypto makes up around 17% of its transaction-based revenue, with Dogecoin contributing 34% of this in Q1. This highlights Robinhood’s reliance on hype and speculation to drive revenues.

The financial technology (fintech) firm expects Q2 revenue to come in between $546 million and $574 million. That’s close to double Q2 2020.

We’ve covered Robinhood in the past; check out some of our previous articles:

Robinhood’s financial fundamentals

Despite all its publicity and growing customer base, Robinhood lost money in Q1 2021. To the end of March 2021, its net loss came in at $1.4 billion. This was up from $522.2 million year-over-year.

A $1.5 billion non-cash charge largely caused the loss. This came from a rush to secure debt at the height of the market’s meme stock volatility.

Before this, Robinhood was profitable. In its full year of trading to the end of December 2020, Robinhood achieved a net income of $7.4 million. Considering the prior year came in with a $106.6 million net loss, this inspired investor confidence.

Shareholder risks to consider

Payment for order flow is a controversial process that’s been heavily criticized. The problem is it creates a conflict of interest for brokerages because they’re incentivized to send their customer orders to the highest bidder. Rather than choosing the market maker with the best price and fastest execution times.

Many countries have already banned ‘payment for order flow’. If the US bans ‘payment for order flow’ in the future, then Robinhood’s business will be in big trouble.

Trading slowdown

While activity soared last year, the company expects this to slow in the coming months.

A reality check is hitting the global capital markets with fear of the virus ongoing and inflation concerns causing investors to pull back.

The stimulus-induced giddy highs of 2020/21 are unlikely to be repeated, and Robinhood’s ongoing success will be dependent on signing up new customers and retaining existing ones.

A competitive arena

Furthermore, competition is steadily rising. Additional discount brokerages are appearing, and traditional firms are moving in to compete.

Some of its rivals include Charles Schwab (NYSE: SCHW), Morgan Stanley (NYSE: MS), JP Morgan (NYSE: JPM), Square (NYSE: SQ), Coinbase Global (NASDAQ: COIN), River Financial Corp (OTC: RVRF) and Citigroup (NYSE: C).

With the stock frenzy dying down and the world set to get back to operating post-Covid, many see Robinhood’s IPO indicating a market top for retail investing.

Where’s the Value?

  • Robinhood is a digital discount brokerage offering commission-free trading and investing.
  • It generates most of its revenue from payment for order flow, a practice at risk of regulation or outright ban.
  • It has international expansion plans, but international jurisdictions each come with their own regulatory hurdles to cross.
  • The GameStop frenzy has brought a barrage of class action lawsuits, congressional hearings, and federal warrants.
  • Robinhood will pay $70 million in fines and restitution as part of a regulatory settlement over providing users with “false or misleading information.”

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Should You Invest in Draftkings Stock?

Draftkings stock is new to the markets and could do well for investors. The sports betting industry is growing as more states legalize it.
The post Should You Invest in Draftkings Stock? appeared first on Investment U.

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In May of 2018, New Jersey won a landmark court case in the Supreme Court. This victory repealed a long-standing ban on states’ rights to legalize sports gambling. Since then, the floodgates have been open for states to legalize sports betting. This has given rise to Draftkings stock and other investments. In just two short years since this decision, more than $20 billion has already been bet with the U.S. sportsbook.

If you’re a big sports fan then you’ve most likely heard about DraftKings thanks to their aggressive ads. If not, DraftKings is an online sports gambling company. Thanks to the ease of use of their app and frequent promotions, they have built up a solid user base. This begs the question: should you invest in a hot, young company that’s in an exciting, freshly legal industry?

Let’s take a look at a few reasons why you should consider investing in Draftkings stock…

NOTE: I’m not a financial advisor and am just offering information and commentary. Please do your own due diligence before making any decisions. I also own a small position in Draftkings.

Draftkings Stock Still Run by its founders

Draftkings was founded in 2012 by Jason Robins, Matt Kalish, and Paul Liberman. These three are all still involved in the company.

In general, founder-led companies tend to have a better track record for success. If you look at some of today’s most successful public companies, they are almost all founder-led. For instance, there is Facebook and Zuckerberg, Netflix and Hastings and Amazon and Bezos (until just recently).

These men have dedicated the past eight years of their lives building DraftKings into what it is today and will want to continue their success. Since sports betting was just legalized two years ago, they will likely have a huge second wind. This could push Draftkings stock higher.

Sports Gambling is an Industry on the Rise

Let’s compare the sports gambling industry to another up-and-coming industry, marijuana.

Marijuana used to be known as “the devil’s lettuce” and smoking it was a serious offense that could land you years in jail. Now, it’s legal in close to 20 states and you can find hemp and CBD products in your local grocery store. On top of that, legal cannabis is expected to generate $43 billion by 2025. It’s a growing industry and here are some of the top U.S. marijuana stocks.

On that same note, gambling used to be associated with mobsters and money laundering. Now, companies like Draftkings make it fun and harmless to bet a few bucks on your favorite sports teams. The stigma surrounding Draftkings stock and the entire sports gambling industry is shifting. Already, in just two years, 20 states have rushed to legalize sports betting. States where sports gambling is legal, like New Jersey, are generating tens of millions in tax dollars.

Online Sports Betting has a Distinct Edge

It’s important to note the difference between in-person betting and online betting. Most states choose to legalize both but some states will choose to legalize one and not the other. In total, more than 20 states have legalized sports betting. Of these, 18 have legalized in-person betting compared to just 14 for online betting.

Yet, when it comes to where people prefer to do their betting, the internet is by far the more popular choice. According to Sports Betting Dime, more than 80% of the total bets placed in New Jersey in 2019 were placed online. When it comes to online gambling, Draftkings is in more states than any other operator.

Draftkings Stock Earnings

So far, I’ve discussed a lot of external factors about the industry. Sure, sports betting may be on the rise but will Draftkings stock and the company benefit?

Draftkings went public via a SPAC merger with the Diamond Eagle Acquisition Corporation in late June of 2020. If you’re not familiar, a special purpose acquisition company, SPAC, or “blank check company” is a company with no actual business. Instead, their main goal is to buy another business that’s already thriving.

Since DraftKings has only been public for about one year, there isn’t a lot of financial data to view. Additionally, most of their time as a public company was during 2020, when live sports were canceled. As you might imagine, canceling live sports for a company like DraftKings is like banning the consumption of chicken for a company like KFC.

Despite this mild hiccup, DraftKings still grew their revenue by 90% from 2019 to 2020. That said, they also posted a whopping loss of $1.23 billion for 2020.

Evaluating their performance so far is like trying to evaluate the potential of a first-round draft pick who sat out his rookie year with a torn ACL. It’s hard to draw any concrete conclusions because they haven’t really been given an opportunity.

Drafting Stock Prediction, Should You Invest in Draftkings?

At the end of the day, Draftkings is an exciting young company in an industry that has amazing potential to grow. Although, I’d be doing a disservice to not bring up a few of the risks associated with their business, so here they are:

  • Competition – Draftkings and Fanduel are the Uber and Lyft of their industry. These two will likely be in a cutthroat fight over the coming years.
  • Societal pushback – Gambling is addictive and Draftkings makes it incredibly accessible. They tend to treat gambling like much more like a video game, not a risky practice that has consequences. This could lead to increased scrutiny and regulation.
  • Future variants of COVID-19 – Another wave of COVID could crush DraftKings stock.
  • Gambling laws are complex – Each state has their own rules and essentially acts as its own market. For DraftKings, this means high costs and potential lawsuits.

There are definitely plenty of risks associated with Draftkings stock. However, like their slogan says, “life is more fun with skin in the game.”

I hope that you’ve found this article valuable when it comes to getting a better idea of whether or not you should invest in Draftkings stock. If you’re interested in more investing opportunities, consider subscribing to Liberty Through Wealth below. It’s a free e-letter that’s packed with investing insight from market experts.

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Economics

Weekly investment update – Emerging markets miss out on equities and bonds surge

At first sight, the direction of financial markets in July might have come as a surprise: global equities posted their sixth consecutive monthly gain despite a steep drop in emerging market equities, while bond markets also recorded strong advances, again

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At first sight, the direction of financial markets in July might have come as a surprise: global equities posted their sixth consecutive monthly gain despite a steep drop in emerging market equities, while bond markets also recorded strong advances, again except for those in emerging markets.

Volatility spiked at times during July. Indeed, it hit its highest since early May and took equities from a historical peak to the lowest level in a month within the space of a week before they set another high towards month-end. Emerging market equities suffered from a persistent sell-off in Chinese stocks over the government’s regulatory clampdown on sectors ranging from ride hailing to gaming.

Economic growth – On an even keel  

While markets worried that the economic recovery had peaked, the latest purchasing managers’ data – seen as a leading indicator of the direction of growth – did not signal a sharp slowdown. China’s PMI for July, typically also a proxy for wider emerging market growth, fell by 0.5 of a percentage point from the previous month, indicating that company activity had slowed down. Remaining at above 50, the indicator also signalled that overall economic expansion overall is continuing.

In the eurozone, business activity rose at its fastest rate in just over 15 years in July. At 59.8 in July, after 58.3 in June, the services sector PMI was at its highest since June 2006 and consistent with a sharp rate of activity growth.

US GDP growth was 6.5% annualised in Q2 after 6.3% in Q1 and fell short of expectations. While inventories and net exports contracted, personal spending on consumption and non-residential private investment grew strongly. GDP was above its pre-Covid peak. Thanks to massive fiscal and monetary stimulus, it is now back on its pre-Covid trend.

Despite this economic progress, the US Federal Reserve has continued to indicate that there is still ‘some ground to cover’ before it will start reducing its pandemic support for the economy. Employment is still some seven million jobs below pre-Covid levels. Risks to the outlook remain, not least as Delta variant Covid cases rise.

Equities: Record-setting

July saw concern over slowing global growth offset by news of strong corporate earnings and still record-low interest rates. Markets were buoyed by optimism over the outlook for the US economy in the second half of 2021, even in the face of a pickup in Covid infections due to the more contagious Delta variant.

Some observers are pointing to the small chance of widespread lockdowns, while others have noted that although caseloads are rising rapidly, hospitalisations and fatalities are not.

US stocks recorded their sixth monthly rise in a row. The S&P 500 rose by more than 2%, while the tech-heavy NASDAQ and the Dow Jones added more than 1%.

There were all-time highs for European stocks as well, allowing them to record a sixth consecutive month of gains. Mid-caps, IT and dividend stocks led the market, while the energy sector lagged.

Asia takes a dip

In contrast, Asian equity indices had a poor month due to rising Covid cases across the region and concerns that a regulatory crackdown on tech businesses in China could slow already decelerating growth. This came on top of spreading Delta cases in the country and a softening land and property market. The developments clouded market sentiment across various regions.

Japanese equities lost more than 2% on concerns about another coronavirus wave and its impact on the economic recovery. Investor worries over global economic growth not only drove down US Treasury yields, but also the US dollar, allowing the yen to strengthen. The break in what had been the yen’s weakening trend also roiled Japanese markets.

Tepid domestic data, concerns about growth in China and volatile oil prices – Japan imports some three quarters of its oil consumption – also weighed on the market.

We believe there are reasons to be somewhat cautious on equities despite the good recent earnings momentum and the continued support from central bank pandemic measures. Recent recoveries followed sell-offs on a modest scale rather than sharp retrenchments and dips have not attracted many more new buyers or more widespread buying. Recent gains look vulnerable to us.

Bonds: The rally rolls on

Yields fell as investors sought shelter in haven assets such as US Treasuries and Bunds, extending the rally by a third month.

In the US market Treasury, 2- and 10-year yields notched their biggest one-month drops in over a year (March 2020), even as the Federal Reserve’s preferred inflation gauge rose sharply in June for the fourth big gain in a row. However, June’s increase was smaller than forecasters had expected.

Investors still appear to be siding with the Fed, accepting its view that higher inflation is due to supply bottlenecks and shortages and that these should ease off as the recovery matures. Ironically, the pressure should also ease as a growth slowdown tamps demand.

Over the month, long-dated debt yields fell to around five-month lows.

What’s up with real yields?

Some investors appear to worry that very low real yields — which measure the returns investors can expect once inflation is taken into account — are warning of a (coming) sharp slowdown in growth as the more contagious Delta variant spreads, turning businesses and consumers cautious again.

Others have argued that market pricing has become too pessimistic, pointing to the US economy’s strong rebound, even if growth has now peaked.

A further explanation could be that continued large-scale bond buying by central banks is still holding down yields across the board – even yields that are adjusted for inflation that has seen high readings in the US, the UK and Europe. An end to this form of support for economies does not appear to be in sight any time soon.

The Fed, which has bought about USD 120 billion of bonds monthly throughout the pandemic to pin down borrowing costs for households and businesses, reiterated after its latest policy meeting that the economy was making ‘progress’, but it remained too early to tighten monetary policy. Any tapering of bond purchases could be delayed by a growth slowdown, which should support markets.

Elsewhere in bond markets, high-yield credit in USD, EUR and GBP had another good month, extending their run of gains by a seventh month. UK inflation-linked bonds were in the lead in the fixed income segment.   

Gold was supported by the continued rise in inflation and the declines in real yields that have made it more attractive as an inflation hedge. Commodities more broadly were the best-performing asset class in July.

BOND MARKETS      
10-year yields   Monthly change 2021
US T-note 1.22 -25 31
JGB 0.02 -4 0
OAT -0.11 -23 23
Bund -0.46 -25 11
EQUITY MARKETS      
Euro Stoxx 50 4089.3 0.6% 15.1%
Stoxx Europe 50 3555.8 1.2% 14.4%
       
Dow Jones 30 34935.5 1.3% 14.1%
Nasdaq 14672.7 1.2% 13.8%
S&P 500 4395.3 2.3% 17.0%
       
Topix 1901.08 -2.2% 5.3%
       
MSCI all countries (*) 724.2 0.6% 12.1%
MSCI Emerging (*) 1277.8 -7.0% -1.0%
(*) in USD      

Any views expressed here are those of the author as of the date of publication, are based on available information, and are subject to change without notice. Individual portfolio management teams may hold different views and may take different investment decisions for different clients. The views expressed in this podcast do not in any way constitute investment advice.

The value of investments and the income they generate may go down as well as up and it is possible that investors will not recover their initial outlay. Past performance is no guarantee for future returns.

Investing in emerging markets, or specialised or restricted sectors is likely to be subject to a higher-than-average volatility due to a high degree of concentration, greater uncertainty because less information is available, there is less liquidity or due to greater sensitivity to changes in market conditions (social, political and economic conditions).

Some emerging markets offer less security than the majority of international developed markets. For this reason, services for portfolio transactions, liquidation and conservation on behalf of funds invested in emerging markets may carry greater risk.

Writen by Nathalie Benatia. The post Weekly investment update – Emerging markets miss out on equities and bonds surge appeared first on Investors' Corner - The official blog of BNP Paribas Asset Management, the sustainable investor for a changing world.

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3 Tech Penny Stocks To Watch In August 2021

Tech penny stocks continue to attract attention; here’s 3 for your watchlist
The post 3 Tech Penny Stocks To Watch In August 2021 appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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Hot Tech Penny Stocks to Watch in August 2021

This year tech penny stocks have become some of the most popular small-caps for investors to buy. And, there are plenty of good reasons for this. During the most recent earnings season, most of the big-name blue-chip tech stocks blew the expectations out of the water. While some fear that this could be a peak, others believe tech is just getting started. 

In the second quarter of this year, the U.S. GDP shot up by around 6.5%, indicating that expansion is well underway following the onset of the pandemic. Right now we have to consider the effects of the Delta variant on a reopening economy. In line with this, investors should understand what this means for penny stocks across the board. With the tech industry, investors remain bullish on the potential impact of the pandemic. 

[Read More] 4 Top Reddit Stocks To Watch As Robinhood (HOOD) Stock Breaks $80

As we saw early on in the course of Covid, many tech stocks were able to benefit greatly. The increased need for new tech products and better work-from-home/educate-from-home offerings created a highly bullish environment for the tech industry. With strong confidence in the future of the stock market, here are three tech penny stocks to know about in August. 

Tech Penny Stocks To Watch For August 2021 

  1. Alpha Esports Tech (CSE: ALPA) (OTC: APETF
  2. Sonim Technologies Inc. (NASDAQ: SONM)
  3. Bitfarms Ltd. (NASDAQ: BITF)

Alpha Esports Tech (CSE: ALPA) (OTC: APETF) 

During the course of the pandemic, people have searched for new methods to entertain themselves from home. And while video games have remained highly popular, competitive gaming or Esports is something that has only started to pick up momentum in the past five years or so. 

While Covid highlighted several industries for their temporary contributions to the pandemic-stricken economy, other industries used it as a launching point. One of those industries is Esports. It’s worth noting that the momentum around this unique sector has only just begun to pick up in the past few years, indicating that there could be plenty of potential left to take advantage of. Alpha Esports Tech has begun to turn some heads this year. 

From its GamerzArena platform to its active userbase, Alpha Esports has focused on taking advantage of this new wave of interest in Esports. Rather than focusing on one specific area of the market, the company has broadened its reach with a multi-pronged approach to the industry. Looking at the company, we can break it down into three separate propositions: esports, mobile gaming, and eCommerce. While they all are different, these three business opportunities present different value points for investors to take a closer look at. 

Overall, Alpha Esports’ focus is on bringing together the gaming community onto its unique GamerzArena platform. The GamerzArena allows players to come together for community competitions, tournaments, and daily prizes. In addition, Alpha Esports has already succeeded in monetizing this product with its GamerzArena+ subscriber-based model. At $12.99 per month, gamers have access to better prizes, unique events, and all the gaming analytics one could ask for.

[Read More] Alpha Esports Announces Expansion into Brazil; Signs Launch Partnership with Mais Esports, Brazil’s Largest Esports Media Company

Alpha Esports has managed to build a gamer community that thrives on the success of its players. And, it works with its gamers to help them succeed in the long run. Case and point, Devlin D’Zmura, the Social Media Manager & Content Producer at Barstool stated that the GamerzArena “exceeded our expectations across the board. The level of personal and interactive content it provides us for our community is invaluable!” 

From a fiscal perspective, Alpha Esports is also putting itself ahead of the game. The company expects to have more than 500,000 users by the 4th quarter of this year alone. And if we look at the Market Insight Report for the global esports betting market, we see a CAGR of over 13% to $13.05 billion by the year 2025. Considering this, do you think it’s worth adding to your watchlist?

Sonim Technologies Inc. (NASDAQ: SONM) 

Up by a solid 6% or so by midday are shares of SONM stock. If you’re unfamiliar, Sonim Technologies is a U.S. provider of mobile tech solutions aimed at the ultra-rugged market. Its products are in use in fields such as onsite maintenance and those in harsh environment roles. 

[Read More] 4 Hot Penny Stocks to Watch With High Volume in August

The lineup of offerings that Sonim has includes rugged phones, industrial accessories, and a variety of applications for use on these platforms. A few weeks ago, Sonim announced an exciting partnership with 4K Solutions. This partnership will oversee the launch of the Mobile Broadband Kit Elite or MBK-Elite, which is designed to support the Sonim Xp8 ultra-rugged Android handset. 

“We are excited to team up with 4K Solutions to offer a complete critical communications solution that can be tailored to each customer’s demanding requirements. Combining Sonim’s expertise in rugged smartphones with 4K Solutions expertise with mobile broadband kits is a win-win for customers needing a rapid-deployment solution for emergency response.” 

The CMO of Sonim Technologies, John Graff

Since mid-July, shares of SONM stock have climbed by over 10%. And with its constant innovation, Sonim Technologies could be worth keeping an eye on in the near future.

Sonim Technologies (SONM Stock Chart)

Bitfarms Ltd. (NASDAQ: BITF) 

Over the past month, shares of BITF stock have climbed by over 18% and YTD by over 140%. This staggering rise is a reflection of both Bitfarms’ work and the rise in Bitcoin popularity during that time. For some context, Bitfarms is a vertically integrated Bitcoin mining company. It operates onsite technical repair, data analytics, engineering and installation services and high hash-rate Bitcoin mining. While it was only listed on the NASDAQ in June of this year, Bitfarms has received a great deal of attention since that time. 

If you follow the crypto industry, you likely know that one of the main issues is the extreme use of energy required to mine cryptocurrency. To combat this, Bitfarms states that over 99% of its operations utilize hydropower. This is a big deal in the blockchain industry and something that companies are just now beginning to move toward. It’s worth noting that BITF stock is not technically a penny stock at just over $5 per share. However, it was only a few days ago prior to its recent climb. And, its solid rise in that time frame could be due to its positive outlook on the near future. 

The company stated that in the first six months of 2021, it was able to mine 1,357 Bitcoin. This is the largest number of Bitcoin mined in North America for any publicly traded mining company. At the August 4th BTC price of just under $40,000, this number amounts to $53,354,526. In June alone, Bitfarms mined 265 new Bitcoin, which was a record for the company at the time. So, with the popularity of cryptocurrency only continuing to rise, is BITF a welcome addition to your penny stocks watchlist or not?

Penny_Stocks_to_Watch_Bitfarms Ltd. (BITF Stock Chart)

Tech Penny Stocks Are Ripe With Potential 

Over the past year and a half, the tech industry has grown substantially. And while blue-chip tech stocks like AAPL stock and TSLA stock are always in focus, this massive industry growth has put a spotlight on tech penny stocks as well. 

[Read More] This Biotech Stock was Once a Penny Stock but is Now Making Big Moves on the Nasdaq!

With hundreds of choices from Esports to blockchain penny stocks, the potential for profitability is almost unlimited. But as always, investors should do their research into any and every company on their watchlists. This will help to ensure the best chance of making money with penny stocks. Considering this, which tech stocks are on your watchlist right now?

education technology penny stocks to buy edtech

Pursuant to an agreement between Midam Ventures LLC and Alpha Tech INC Midam has been paid $300,000 for a period from February 12, 2021, to April 2, 2021. We may buy or sell additional shares of Alpha Tech INC in the open market at any time, including before, during, or after the Website and Information, to provide public dissemination of favorable Information about Alpha Tech INC. Now extended from 6/30/2021 to October 29, 2021 & no additional compensation of any kind has been received by MIDAM. Click Here For Full Disclaimer.

The post 3 Tech Penny Stocks To Watch In August 2021 appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

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