OTC Trade Ideas For Wednesday: SRCO, CMGR, SSOF, PHIL, ILIM, ICNM

While it is true that penny stocks are often quite volatile it cannot be denied that these stocks can often generate enormous returns if investors manage to pick the right stocks. Even at this time when the markets are not performing particularly well, there may be penny stocks that could eventually generate tenfold return.

It is important for investors to take a look at some of the penny stocks which could potentially do that and this article is going to provide you with a list of stocks that may have that potential. Here is a look at six of those.

Sparta Commercial Services Inc (OTCMKTS:SRCO) – The first one that could be one of the penny stocks to possibly generate handsome returns for investors is the Sparta Commercial Services Inc stock.

The company saw its stock gather momentum this past Friday and ended the day with gains of as much as 7% as a consequence. It may be a good idea for investors to possibly take a closer look at the company and its business before making up their minds about the stock one way or another. It is a diversified company and also has interests in the fast-growing cryptocurrency sector. In addition to that, Sparta Commercial Services also has interests in e-commerce, CBD, wellness, mobile app development, website development, and national municipal lease financing industries.

In the quarter that ended on January 31, 2022, Sparta Commercial Services managed to record growth in revenues on a sequential basis and the next quarterly results could be announced by the company soon. It is likely that investors are going to look into the results quite closely. At this point in time, the company mainly boasts of two different verticals when it comes to growth generation.

One of those is iMobile Solutions, which is involved in the company’s IT solutions business. Another one is New World Health Brands Inc which is involved in the health and wellness industry. It is going to be interesting to see if the Sparta Commercial Services stock can manage to hold on to its momentum and add to its gains today.

Clubhouse Media Group (OTCMKTS:CMGR) stock was the biggest gainer in the previous session and soared as much as 112% to $0.007.

Influencer-based social media firm and digital talent management agency, Clubhouse Media Group on Jun 28, 2022, announced the finalization of a brand promotional deal with Target, through a partnership with The Reiman Agency. The deal includes live stream events by major social media influencers and Instagram feed posts. Target was ranked thirty-two on the 2021 Fortune 500 list of largest US corporations and is one of the top 10 retailers.

Julia Salmon, Sales Executive at CMGR expressed excitement about working with Target on successful live streaming for supporting the new maternity line. Salmon added that it was seamless working with the talent and Target and the company is looking to together even in the future.

The diversified holding company, PHI Group (OTCMKTS:PHIL), which is sponsoring PHILUX Global Funds (a group of Luxembourg bank funds) and engages in the Asia Diamond Exchange project in Vietnam, confirmed that the firm has inked an agreement with Danang Rubber Joint Stock Company as well as Tin Thanh Group. It will be cooperating in augmenting DRC’s tire production as well as implementing an innovative sales and marketing program for annual revenues of $ 5.5 billion dollars by 2025.

A pioneer conglomerate, Tin Thanh Group, has decades of experience in providing renewable energy as well as lowering emissions covering Energy, Environment, and Closed Circular Agro-Industrial Energy. The Group is providing energy from renewables to over forty industrial plants in Vietnam and globally. It specializes in sustainable development by growing sorghum crops to create clean energy sources and lowering global emissions.

il2m International Corp (OTCMKTS:ILIM) – Over the course of the past week, the il2m International Corp has been one of the major penny stock gainers as it ended up with gains of as much as 77%. While the gains were staggering, it ought to be noted that there has been no news about the company at all. The company is involved in the social media and music entertainment spaces.

 Nevada diversified global technology firm, Icon Media Holdings (OTCMKTS:ICNM), announced executing the binding letter of intent for acquiring Eastwin8 Pte Ltd, a Singapore company in fintech and logistics.

A Singapore-based digital network platform enabling businesses to conduct e-commerce, Eastwin8 enables business owners to take advantage of the platform functions. It helps them optimize, plan, and distribute the jobs to logistics partners through mobile apps.

The platform makes it easy to add “service partners” to the network. This ensures that platform users can access extended resources through the platform network. The platform gives extra functions like Automatic Route Planning, Live Tracking, Private Network as well as several value-added services.

Sixty Six Oilfield Services Inc (OTCMKTS:SSOF) – Last but certainly not least, it is the Sixty Six Oilfield Services Inc stock that has been in the middle of a major rally in the past few days.

Yesterday, the company, which is known for selling and renting heavy oil equipment to enterprises, saw its stock rally by 7%. That took the gains made by the stock to 25% for the past month. There has been no recent news about Sixty Six Oilfield Services.