Penny Stocks to Watch: ACBD, CFGX, ECGI, XALL

A lot of research ought to be put in by investors if they are to discover the next big things from among penny stocks. It is important to watch the market closely and the movements in the penny stock category. This feature would present you with a detailed look into four penny stocks that could be watched at this point in time.

AnnaBidiol Inc (OTC:ACBD) – Yesterday the company came on to focus after it announced that it had reached an agreement for a plan of merger with Digital Research Solutions. As per the provisions of the transaction, Digital Research Solutions would merge with AnnaBidiol Inc. Digital Research Solutions had been established in 2015 and is involved in innovative programming, advisory, and artificial intelligence-powered software technology development.

The Chief Executive Officer of Digital Research, Kelly Kirchhoff, spoke about the development as well. She noted that she was excited at having the opportunity of the merger with AnnaBidiol. Kirchhoff went on to add that the company was looking to enter the growing tech market and the merger would provide it with the opportunity to do so. She also noted that the technology at Digital Solutions was stronger than ever.

Capital Financial Global Inc (OTC:CFGX) – The specialty finance company is involved in providing loan advisory services and asset-backed financing. Yesterday, the company announced that there had been a boost to its funding capacity thanks to its latest strategic partnership with RCN Capital, the correspondent lender. The Chief Executive Officer of Capital Financial Global Inc, Paul Edward Norat spoke about the partnership.

He noted that the partnership was a major new milestone for the company in its growth strategy. Due to the further strengthening of its funding capabilities, it would be possible for Capital Financial Global to be in a better position to serve its clients and also unlock value for the shareholders.

It would enable the company to offer a much wider range of financial solutions to its clients. Additionally, it would also help with greater access to more advanced technology and higher flexibility with regard to business operations. The increased funding capability would be particularly helpful for the company in providing assistance to its clients involved in the commercial and investment real estate financing spaces.

ECGI Holdings Inc (OTC:ECGI) – The Nevada-based portfolio company provided a significant update to current and potential shareholders about its ongoing expansion of 8-Bit Buds, a company that it would acquire soon.

ECGI Holdings Inc announced that the 8-Bit cannabis brand had managed to expand its distribution footprint to 65 cannabis stores from 20 cannabis stores since the end of March 2023. That represented a boost in distribution footprint by as much as 225% in less than four months.

The management further added that during that period the top-line growth continued to be strong. On March 23, 2023, the company announced that it had reached an agreement to acquire Endless Consciousness Inc. The primary asset of Endless is the 8-Bit brand of products.

Xalles Holdings Inc (OTC:XALL) – The company is a leading player in the financial technology space and specializes in financial services and innovative technology.

Yesterday, Xalles Holdings Inc made an announcement about its investment strategy and its plans for theĀ  Xalles Commerce Business Group. The group had been launched towards the end of the first quarter of this year and its aim was to acquire synergistic assets headed by strong management teams. Xalles Holdings announced yesterday following the performance of the group in the second fiscal quarter, it had decided to withhold the investment in Loyalty Superstore Inc, a constituent company of the group.

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