Following were the notable penny stock buzzers in the previous session on high volume. Keep an eye on these stocks this week.
If you are interested in nanocap stocks here is one you should look into
Sparta Commercial Services Inc. (OTCMKTS: SRCO) just launched SpartaPayIQ, a crypto payment gateway developed for e-commerce and brick & mortar businesses. SpartaPayIQ makes SRCO makes a ‘first of its kind’ vertically integrated crypto commerce company.
Two great examples of online vertical integration include:
Netflix- produces shows and films as well as provides the distribution network through its streaming services.
Amazon- marketplace for buyers and sellers – but it also offers its own products and services, as well as its own distribution channel.
SRCO is applying this model to cryptocurrency payment processing. A recent Crypto.com Research Report states there are approximately 221 million cryptocurrency users worldwide holding over $2 Trillion worth of cryptocurrency to spend. That’s why the Global Crypto Payment Gateway Market is expected to grow with a CAGR of 22.8% over the next six years, according to Brandessence Market Research.
SRCO is making its bid to take a sizeable piece of this sizeable market.
Hemp Inc (NASDAQ:BTRS) stock was in action in the previous trading session as the stock ended flat at $4.94 with over 563K shares traded hands, compared to its average volume of 1.15 million shares.
BTRS Holdings Inc. provides cloud-based software and integrated payment processing solutions that automates business-to-business (B2B) commerce worldwide. The company operates in two segments, Print, and Software and Payments. The company offers solutions that span credit decisioning and monitoring, online ordering, invoicing, cash application, and collections. Its products include credit Application, a B2B credit application module, which provides a digital process that delivers credit-related information in real-time to streamline prospect evaluation and new customer onboarding during initial sales activity.
SoFi Technologies Inc. (NASDAQ:SOFI) stock continued to trend in a range on Monday. On Monday, the stock was down 1.72% at $6.86 with more than 39.17 million shares traded hands, compared to its average volume of 51.63 million shares.
After a brutal start to the year, the fintech stock had a solid earnings report, followed by positive analyst notes and an insider purchase from the CEO. Part of the reason for last month’s bounce-back was that SoFi had been absolutely decimated entering May, after a 35.2% plunge in April alone. During the prior month, management preannounced a lower guide for the year after the Biden administration postponed the resumption of student loan repayments until later in the year.
Robinhood Markets Inc. (NASDAQ:HOOD) stock was one of the active stock buzzers. The stock ended down by 0.65% to $9.11 with over 24.08 million shares traded hands, compared to its average volume of 20.44 million shares.
Q1 2022 earnings were disappointing for Robinhood. There was a miss on both earnings per share (EPS) and revenue. EPS GAAP of negative 45 cents was a miss by 10 cents. Additionally, revenue of $299 million was a miss by 58.21 million. Making a list of negative factors in Robinhood’s Q1 2022 earnings is too easy and finding positive factors is too hard.
Marqeta Inc. (NASDAQ:MQ) stock was one of the notable active movers in previous trading session as the stock went up 5.37% to $11.57 with over 14.57 million shares traded hands, compared to its average volume of 10.18 million shares.
The company has teamed up with Western Union, global leader in cross-border, cross-currency money movement and payments, to integrate its solution into Western Union’s next generation real-time multi-currency digital wallet and digital banking platform in Europe. Marqeta’s modern card issuing platform will allow Western Union’s entire remittance service to be offered online, with funds disbursed to a physical or virtual Visa card.
StoneCo Ltd. (NASDAQ:STNE) stock was one of the active stock buzzers. The stock ended up by 2.20% to $12.06 with over 14.09 million shares traded hands, compared to its average volume of 9.81 million shares. StoneCo published Q1 results after the market closed on Thursday, posting a performance that came in above the market’s expectations. The company recorded non-GAAP (adjusted) earnings per share of 0.43 Brazilian reals on revenue of 2.07 billion reals, and its forward guidance was also significantly better than expected.
