The cryptocurrency sector suffered a significant crash over the past weeks and naturally, it had a major effect on the stocks of companies which are involved in the sector. Many of the stocks in the crypto sector went through a selloff and recorded significant declines.
However, things seemed to have changed somewhat on Friday as investors returned to many of the stocks and there were many crypto stocks that managed to make a strong comeback. This article provides you a glimpse into four crypto-related stocks which made a strong comeback on Friday.
BlockQuarry Corp (OTC:BLQC) – There may not have been any news at all about the Texas-based cryptocurrency self-mining and mine hosting company BlockQuarry Corp on Friday, but the company’s stock made a strong move nonetheless. The stock ended up with gains of as much as 15.55% amidst heavy interest.
In this context, it could actually be a good idea for investors to take a look at the news from April 25 when BlockQuarry announced its financial results for the fiscal year that ended on December 31, 2021. Revenues for the period came in at $960,000 and that worked out to a year-on-year rise of a staggering 1643%.
On the other hand, the net operating losses stood at $3.4 million and that was a considerable improvement from the losses of $8.3 million in the year ago period. In addition to that, the cash balance stood at $542000, which reflected a year on year rise of as much as 540%.
GBT Technologies Inc (OTC:GTCH) – The next crypto-related stock that you could look into at this point in time is that of GBT Technologies Inc and as it happens, the company was actually in the news last week on May 10. At the time the company announced that it had made plans for further expanding the multiplanar, 3 Dimensional, integrated circuit continuation patent application related to its manufacturing and designing. It had been planned by the company as a form of response to an action from the United States Patent and Trademark Office. It has also been suggested that the new technology from GBT Technologies could in fact prove to be revolutionary since it could help in the functioning of integrated circuits which take up a considerable degree of silicon space. Last Friday, the stock was in sharp focus as it ended up with gains of as much as 22%.
Mass Megawatts Wind Power Inc (OTC:MMMW) – Renewable energy is something that could eventually have a major effect on the crypto industry in the long run and hence, Mass Megawatts Wind Power Inc could be a stock worth tracking for investors who are interested in the crypto sector. Last Friday, Mass Megawatts came into sharp focus among investors and ended up with gains of as much as 6.5% following a key announcement.
The company announced that it had experienced a significant surge in the demand for solar energy and that was primarily owing to the higher rate of return for the customers. In this context, it ought to be noted that one of the major reasons behind the demand lies in the fact that the prices of natural gas and oil have both gone through the roof in recent times. It remains to be seen if there is a further shift toward solar in the coming months.
Artificial Intelligence Tech Solutns Inc (OTC:AITX) was another gainer with a gain of 26.21% to close at $0.013. The company announced that it launched its very first television advertisement. It should be noted that the advertisement is going to be made available to a limited audience.
The advertisement is going to be particularly focussed on the security and personal safety product RAD Light My Way, which is manufactured by Artificial Intelligence Technology Solutions’ fully owned subsidiary company Robotic Assistance Devices. Over the past months, Robotic Assistance Devices has also managed to bag plenty of orders for many of its products.
Kaival Brands (NASDAQ:KAVL) stock bounced back sharply and surged over 25%. Back on April 18, the company announced that it had managed to make a major expansion to its retailer and wholesaler accounts. This particular expansion is going to help Kaival Brands in sending out the product to more than 21000 more stores this year. It goes without saying that such a development for a wholesaler is a major one and one that could potentially bring a massive boost.
In light of that particular development, it may be a good idea for investors to perhaps consider adding the stock to their watch lists and watch for further developments.
All American Gold Corp (OTC:AAGC) – Last but certainly not least it is the All American Gold Corp stock that ought to be on the radars of many investors.
Last Friday the stock had been in major focus among investors and ended up with gains of as much as 17%. While there was no news about the company on Friday, it should be noted that earlier on in the month the company had announced the milestones hit by its full-service hair salon chain Hollywood Star Cuts. That update may have brought the stock into focus.
