If you haven’t heard, the US August Jobs numbers came in and if ever there was a shortfall, it was recognizable today. Expectations on the street were in the ball-park of 220,000 non farm jobs but when the raw data came in, the report showed a deficit of more than 40,000 jobs. The August numbers came in around 173,000 new jobs created during the month. Unfortunately for large cap stocks, this did not bode well. Johnson & Johnson (NYSE:JNJ), Microsoft Corporation (NASDAQ:MSFT), and even Netflix, Inc. (NASDAQ:NFLX) fell by more than 2% by the time the lunch hour rolled in on Friday. As of 11:30AM EST the Nasdaq, S&P 500, and DJIA all showed negative price movement.
Despite these losses and the drop in U.S. jobs numbers, traders have found opportunity in higher volatile markets like that of forex, futures as well as penny stocks. Holiday Island Holdings Inc (OTCMKTS:HIHI), Sierra Resource Group Inc (OTCMKTS:SIRG), Global Equity International Inc (OTCBB:GEQU), and Cell MedX Corp (OTCBB:CMXC)
Holiday Island Holdings, Inc. an emerging small cap company, is currently making progress to acquire particular income producing commercial and residential properties located in Arkansas. The company’s most recent press release announcing that the company is in the works talking with a large Kansas- based developer on the shopping center funding valued at $10,000,000. Over the last month HIHI has seen a price increase of 400% from lows of $0.0001 to highs of $0.0005. On Friday HIHI jumped 100% from an opening price of $0.0002 to a days high of $0.0004.
Sierra Resource Group Inc. a company that engages in the exploration, discovery, and development of mineral resource properties has seen continued momentum over the last couple of weeks. Increased trading volume has seen to be the driving force for the stock’s 1550% over the last month. SIRG has seen lows of $0.0006 back in early August to highs of $0.0099. The stock is currently trading between $0.0016-$0.0019 as of Friday.
Global Equity International, Inc. and its fully owned subsidiary Global Equity Partners Plc., a specialist consultancy firm announced on Friday the company will reapply for OTCQB listing status, once the Company’s closing bid builds at $0.01 or higher. Prior to the most recent press release the company also announced they have signed a consulting agreement with Advanced Imaging Projects. The CEO stated, “AIP has a unique and specialist business that we find very interesting. They have thought through their business model in fine detail and represent a company built on solid plans and aspirations. We will, over time, seek to help AIP establish their products in the Middle Eastern market from Dubai, which offers a huge potential customer base, coupled with ruling family decree to build on their current healthcare facilities. We believe AIP will become one of the market leaders in its sector in a very short space of time and look forward to the long and prosperous journey ahead we are all embarking on.” GEQU over the last 60 days has seen price per share spike of 850% from lows back in July of $0.0014 to highs on Friday of $0.0133.
Cell MedX Corp. a development stage company focused on the discovery, development and commercialization of therapeutic devices for patients with diabetes has seen an increase in trading activity this past week. The company is looking to take a different approach to diabetes treatment that could essentially innovate a new category in the space. Last year, the company bought the rights to a proprietary micro current technology called eBalance that will improve diabetic metabolic markers and lessen the need for insulin, while helping the long-term prognosis for the rising number afflicted with the condition. CMXC over the last 30 days has seen a hike of 126% from lows of $0.15 to highs of $0.34. The stock is currently seeing trading levels between $0.18-$0.21.
CytoDyn Inc (OTCMKTS:CYDY) Regains Momentum After The Big Announcement
Now that the market seems to be coming back into his elements, it could be time for investors to start looking into penny stocks more closely. These stocks may often be risky, but if one makes the right choice, then the rewards could be enormous. One penny stock that could be put into the watch list at this point in time is that of CytoDyn Inc (OTCMKTS:CYDY).
The late-stage biotechnology company, which is developing the coronavirus medicine leronlimab, announced last week that it had filed a comprehensive application for uplisting on NASDAQ. The company announced that it believes that its application satisfies the myriad listing requirements of the NASDAQ Capital Market.
The Chief Executive Officer and President of the company Nader Pourhassan stated that while it is true that the entire process is expected to take many weeks, CytoDyn is hopeful of success in this matter.
He went on to state that a listing on NASDAQ will not only provide shareholders with more liquidity but also give CytoDyn much bigger access to fresh capital. It is a significant development for the company, and the market participants realized it as well. After the announcement was made, the stock rallied by as much as 50%. Investors could do well to keep an eye on the stock this week.
While the rally following this announcement was a welcome relief for the company, it is important to point out that earlier on in the week, the stock has fallen considerably following a setback. Last Monday, the company announced that the United States Food and Drug Administration handed CytoDyn a refusal to file a letter with regards to the usage of leronlimab to treat HIV.
However, at the same time, investors should be noted that the company did announce that it is confident of furnishing the agency with all the further details that have been demanded. It is one of the penny stocks that have performed remarkably well this year so far, and investors could keep an eye on it.
These 3 Pot Stocks Are Up Big Since May: What’s the Buzz?
Over the course of the past year or so, pot stocks had generally struggled, but during the past month, those stocks have recovered nicely. The stock market suffered a historic fall due to the economic turmoil caused by the coronavirus pandemic. It is believed that investors who are looking for value have descended on the beaten-down pot stocks. On the flip side, these stocks could also have been identified as defensive plays in an uncertain market environment.
That being said, it should be noted that despite the gains recorded by many stocks, most of those stocks are still considerably lower than the all-time highs. In such a situation, it could be worthwhile for investors to take a closer look at some of the strongest and more stable cannabis companies in the industry. Here is a look at three pot stocks that made significant moves in May and could be tracked by investors at this point.
1. HEXO Stock Jumps Ahead of Earnings
HEXO Corp (TSX:HEXO) (NYSE:HEXO) is one of those cannabis companies which have had a particularly tough time over the past year or so. However, the stock has emerged as one of the bigger gainers among pot stocks in recent trading sessions. The Hexo stock has gained as much as 120% over the course of the past month. The company is all set to release its financial results for the fiscal third quarter on Thursday, and hence, it could be a big week for the stock.
The recent surge in the Hexo stock may have come as a major boost to investors, but it should be noted that over the past year, it recorded considerable losses. The beaten-down nature of the stock may have contributed to the stock becoming more attractive for investors. However, the trajectory of the Hexo stock in the near term is going to depend a lot on its third-quarter earnings.
The company had made a loss of $298 million in the previous quarter, and while it is almost certain that it is going to make a loss again, the size of the loss is going to be keenly watched. Additionally, any writedowns are also going to be harmful to the stock. Investors should also keep an eye on sales growth.
2 Organigram gains Momentum on Value Buying
Organigram Holdings (TSX:OGI) (NASDAQ:OGI) is another pot stock that has made significant gains in the past month. Since May 13, the stock has gained as much as 80%. In April, the company announced its fiscal second-quarter results, but it had been a disappointment.
Revenues dropped by 13.7% year on year to hit CA$23.2 million, and losses widened to CA$6.8 million from CA$6.4 million in the prior-year period. However, one significant cause for optimism for Organigram investors is the fact that in the second quarter, cannabis 2.0 products made up as much as 13% of its revenue. That has opened up a whole new opportunity for the company.
Wholesale cannabis revenue made up 24% of the net, and that is again a new source of revenue. The company blamed the lower volumes of flower as well as cannabis oil for the drop in sales. Organigram reported cash and cash equivalents of CA$41.1 million as of February 29. Considering the fact that it has burned CA$25 million in the past six months, investors should not use that the cash balance does not paint a pretty picture.
3 Aphria Recovers Following Solid Earnings
Aphria (TSX:APHA) (NYSE:APHA), on the other hand, managed to perform relatively well in its fiscal third quarter. The net sales rose by as much as 19.7% sequentially to hit CA$144.4 million, and more importantly, the company also managed to record a profit for the third time in four quarters. On top of that, it should be noted that although the Canadian cannabis company spends CA$124.4 million on its operations in the nine months trailing that quarter, it still reported a cash balance of CA$515 million.
The performance seems to have buoyed market participants as well, and the stock has rallied by as much as 75% since the middle of May. One of the most important things that investors are going to be looking into is whether Aphria is going to be able to maintain its profitability.
However, due to the turmoil caused by the coronavirus pandemic, it might prove difficult. That being said, it should be noted that the pandemic is going to have an equally damaging effect across the sector.
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