Penny stocks are generally meant for risk-tolerant investors due to the volatility in the stocks but the right bet can often lead to considerable gains from a small investment. Here is a quick look into four penny stocks that have been making strong moves in recent days.
HUMBL Inc (OTC:HMBL) – Not too long ago there had been a correction in the HUMBL stock but last Friday the stock managed to make a strong recovery as it rallied by 19%. On June 15, the company announced that it had hit significant milestones in its plan to reduce its debt, which was one of the primary plans of HUMBL for 2023.
Since the spinout of Tickeri, the company had been successful in retiring more than $19,000,000 of its debt since January 1, 2023. Much of that was achieved through the issuance of HUMBL shares for the settlement of debts. In many of the cases, the shares were issued at prices higher than the prevalent market price. Additionally, the company had also managed to satisfy its $2,200,000 settlement with the firm Forwardly Inc. The final tranche of the payment was made to Forwardly on June 14, 2023.
IDGlobal Corp (OTC:IDGC) – This past Friday the company was in sharp focus among investors and its stock ended up with gains of as much as 100% amidst heavy action. On June 27, IDGlobal Corp announced a path-breaking venture in digital workflows and innovations in digital marketing.
The new venture is meant for driving innovations in the field of digital marketing. It is expected to be a transformative initiative and as part of the process, the company announced the induction of two seasoned professionals to its advisory board. The advisory board is solely focused on artificial intelligence and workflow analytics. In a world in which companies need to make research, marketing or sales-based decisions quickly, it is important to have the tools that help in making lightning-fast decisions.
The company aims to achieve that through the deployment of artificial intelligence tools. IDGlobal Corp claimed that it was in a position to create considerable opportunities and spark growth in the industry.
Pervasip Corp (OTC:PVSP) – The company is involved in the development of technologies and businesses involved in emerging markets. Last Friday the stock was on the move as it ended up with gains of 11%. On June 29 its fully owned subsidiary unit Artizen Corporation announced that it was setting up Artizen Nano in Los Angeles for the purpose of expanding its presence in the cannabis market in California.
To that end, Artizen signed a letter of intent with MTN Group with regard to the signing of definitive agreements by the end of this month. Artizen Nano would be involved in the manufacturing and distribution of Slurped Nano beverages in the Los Angeles market. It would constitute the second stage of the West Coast expansion for the company. MTN Group would be the company’s partner and would be responsible for distributing the product through its network of retailers. The company is also working on developing more collaboration for Slurped with other brands.
Rimrock Gold Corp (OTC:RMRK) – If you are looking into gold stocks today then it may be a good time to track Rimrock Gold Corp, which saw its stock rally by as much as 11% on Friday. The company announced last Friday that it had signed a definitive agreement in place to complete the 100% acquisition of BluNitric Group Ltd, a Wyoming corporation. BluNitric is a path-breaking company which is involved in the nutraceutical and algae farming industry.
The company announced that it was going to accelerate the process by taking care of the next steps, which would also include structural and administrative changes at Rimrock Gold. In the coming weeks, the articles of incorporation of the company would be changed to alter its name to BluNitric Gold Corp. Additionally, the company would also get a controlling interest in BluNitric Australia Pty Ltd, a subsidiary unit.