Why Are These Penny Stocks Flying? BBBYQ, HMBL, DPLS, ILUS, VDRM

Momentum is a major factor when it comes to choosing stocks and more often than not, investors are known to track stocks that gather momentum. Such stock can often continue to move in the same direction for a while. On that note, here is a more detailed look into some penny stocks which have made it to the momentum list lately.

Bed Bath & Beyond Inc (OTC: BBBYQ) – Things may not be absolutely hunky dory for the company with regards to its business operations but a recent development provided the Bed Bath & Beyond Inc stock with considerable momentum. Yesterday, the stock soared by 10% amidst continued momentum and that took the gains clocked in the past week to as much as 35%. On July 14 it emerged that the Buy Buy Baby Stores that it operates would be shutting down as part of the company’s bankruptcy liquidation proceedings. The intellectual property assets of Buy Buy Baby Stores were sold off to Dream on Me industries for a sum of $15.5 million. Dream on Me is involved in the sales of baby products and furniture.

It was further noted that Bed Bath & Beyond had not been able to secure a better offer for the retail unit and as per court documents it was noted that an auction for its assets had been cancelled. Last month Overstock.com acquired the intellectual property assets of Bed Bath & Beyond for $21.5 million. That happened many months after the troubled retail company had filed for bankruptcy protection under Chapter 11.

HUMBL (OTC: HMBL) – The technology company saw its stock gain meaningful momentum yesterday following a significant new announcement. The company, along with the Arena Football League (AFL), made a joint announcement with regard to the fact that HUMBL had been chosen as the official technology platform for the league up until the 2028 season.

The two parties would collaborate on the development of a website, ticketing integrations, digital wallets, and much more. A digital platform ‘Powered by HUMBL’ would be built through the collaboration and it will integrate a range of technologies as well as ticketing partners. The platform would also provide a better digital experience to the fans through the deployment of new technologies like HUMBL Wallet.

The Commissioner of the AFL, Lee Hutton III, spoke about the latest development. He noted that the AFL aspired to provide the best digital fan experience and on that count, it was not going to leave any stone unturned. The league believed that HUMBL offered the most customizable platform and was most suited to what the AFL wished to deliver to the fans across a range of touchpoints. The two parties would also work together closely for marketing the league and the game in the North American market.

DarkPulse Inc (OTC: DPLS) – The company is involved in the deployment of advanced laser-based monitoring systems for accurate and fast monitoring of strains, temperatures, and stresses. These functions help in the advanced monitoring of Smart Cities’ infrastructure.

On Tuesday, DarkPulse was in focus among investors and gathered strong momentum as it ended the day with gains of 14%. While there was no specific news about the company yesterday, it should be noted that on April 13, 2023, the company’s Chief Executive Officer Dennis O’Leary joined the Stock Day Podcast for a chat with the host Kevin Davis. 

At the beginning of the interview, the CEO spoke about the background of DarkPulse as a company and how it eventually came up with the commercial products it offers nowadays. O’Leary noted that the company operated in as many as 20 nations and had also come up with the DarkPulse manufacturing business unit.

The unit is concerned with electronics manufacturing. He went on to note the downtown Houston-headquartered company had the goal to improve human conditions all over the world with its technology.  Another important update from O’Leary was the fact that DarkPulse had also launched into the industrial metaverse and added that the company’s technology could be added to buildings as well as other infrastructural projects.

ILUS International Inc (OTC: ILUS) – The mergers and acquisitions firm ILUS International Inc is keenly focussed on snapping up growing companies in the fields of defense, renewable energy, public safety, and industrial sectors.

On June 28 the company announced that it had signed an advisory agreement with the firm Exchange Listing LLC. Exchange Listing would provide the company with the necessary guidance and preparations for its listing on the NASDAQ Stock Exchange. Exchange Listing boasts of a strong track record and has been successful in listing many companies through its guidance for initial public offerings, and uplistings. It is managed by a highly experienced team led by Peter Goldstein.

Goldstein holds more than three decades of experience across a range of capital markets and in client advisory. Additionally, he has a stellar reputation on Wall Street. At the moment, ILUS International is in the middle of preparations for its uplisting and the company revealed that it would provide more details about its national exchange listing.

ViaDerma Inc (OTC: VDRM) – Yesterday, the company was in significant focus among investors and its stock jumped by 9% for the day. On July 6, ViaDerma Inc announced a range of business updates for its current and potential shareholders, healthcare professionals, and partners. It announced that it was at more than 30% with respect to the process of its stability testing requirements that would be necessary for finalizing the approvals for the distribution of Vistastem Ultra, its lead product.

The distribution would be done through a range of channels in the Middle East and the Caribbean. ViaDerma noted that on the basis of the feedback that it had received thus far, the required testing protocols could be concluded by the end of August or by the early days of September 2023. The company also noted that Nupelo, its hair regrowth product, was in the concluding stages of approval from the FDA.