HLBZ Up 284% In Three Trading
Days Amid Hope To Maintain
NASDAQ Listing And Aim
To Tackle Short-Selling.
Helbiz, Inc., (NASDAQ:HLBZ) continued to prove the recent strength of NASDAQ penny stocks today, with a close up 109.13%, setting it apart as the biggest penny stock runner of the day. At today’s high of $.48 HLBZ had gained as much as 284% from its open at $.125 on 1/19/23. The big action has come amid the company being notified by the NASDAQ Stock Market that it could soon lose its listing status on NASDAQ, with one reason being that its price has remained below $1 for more than 30 consecutive days. Some of the big price action lately has been due to investors betting on the hope that the company will find means by which to pump up the price in order to avoid being de-listed. The company also saw another big move today because the company has made clear that it aims to tackle short-selling of the stock, which in itself could push a surge in price if rectified.
Helbiz, Inc., Is A Show of Further Proof That NASDAQ Penny Stocks Are Becoming Favored By Many Investors:
Over the course of the past few months we have provided back-to-back reporting on various penny stocks trading on NASDAQ that have seen outsized gains within short time frames. The first of such companies that we covered was that of Cosmos Holdings Inc., (NASDAQ:COSM). In our initial COSM news update, on 11/22/22 we hypothesized that the market might see a significant shift of interest among OTC market penny stock traders toward trading penny stocks that trade on NASDAQ instead because of the various advantages that come with penny stocks that trade on NASDAQ vs. OTC Market penny stocks.
NASDAQ penny stocks have far greater access to deeper liquidity due to being allowed to trade across many more platforms and are even able to be easily traded by institutions, whereas penny stocks that trade on the OTC do not have those same allowances and therefore, so much lighter trading with higher volatility. Listing requirements for NASDAQ stocks require high level reporting of audited financial statements that are filed directly with the SEC, while the majority of OTC stocks do not need to be audited or filed with the SEC, which leaves investors to have to simply take the companies word as truth, in their own potentially inaccurate reporting.
We provided a deeper dive into the recognition of the liquidity advantages of NASDAQ stocks in this further COSM news release, where we mentioned the swift growth that COSM saw in price per share, within just three weeks time and pinpointed that much of it was thanks to the easier access to be trade it as opposed to if it were on the OTC market. COSM trading volume individually surpassed the daily dollar trading volume of nearly every company on the OTC Market, for three weeks straight, which further went to show the strength that comes with easier access and reporting standards that put the investing public at greater ease.
Less than one month after publicly hatching our theory that NASDAQ penny stocks would pick up major attention from penny stock investors, Mullen Automotive, Inc., (NASDAQ:MULN) became the next NASDAQ listed penny stock to see outsized growth that quickly shifted penny stock investors attention from the OTC Market to NASDAQ. In our first MULN blog update, we reported that MULN enjoyed major growth action after filing a press release that announced an electric vehicle (“EV”) purchase contract valued at $200 million. This was major news for the company because this contract value alone was well beyond the total market cap of the entire company, so it came as no surprise that investors and traders alike, flocked in after the news broke. That sort of news on a comparatively low cap company is just the sort of low-hanging fruit that investors hope to come across when seeking value trades within a bear market. In our next MULN news update, we delved deep into the fact that MULN was yet another example of a penny stock trading on NASDAQ that completely flipped the script by drawing liquidity away from the OTC Market, which houses the majority of penny stocks and into the NASDAQ stock market where penny stocks are more of a rarity, which in effect makes it easier for investors to hone in on one at a time, vs the thousands of penny stock options on the OTC.
Even Bitcoin And Other Cryptocurrency Related Penny Stocks Trading On NASDAQ Have Seen This Same Bullish Shift:
More recently we have even seen the bullish NASDAQ penny stock effect hit the blockchain tech industry, as seen with Argo Blockchain plc (LSE: ARB; NASDAQ: ARBK; OTCQX:ARBKF) ("Argo").
In this blog update on ARBK, we delved into the fact that Argo sold off a major portion of its Bitcoin mining operation to Galaxy Digital in effort to restructure the company and move onto new endeavors, while still maintaining a small portion of the mining aspect of the business. The move was in effort to survive the now year-long cryptocurrency bear market with price declines that have in effect seen numerous mining operations have to close up shop. Unfortunately for Argo the sale of this Bitcoin mining portion of the business came just before the biggest Bitcoin resurgence that the market has seen in almost a year, with a massive recovery in price.
Argo recently underwent a sale of a major aspect of its bitcoin mining business due to financial difficulties encountered as a result of the bear market that has impacted cryptocurrencies just as it has impacted the stock market, if not more so.
Even Being Suspended From NASDAQ Has Shown Bullish Growth Tendencies For Penny Stocks:
Normally de-listing is seen as a very bad thing because while moving from one market to another due to an up-list can be immensely helpful, being suspended and in effect, demoted can prove to have the entire opposite effect especially if it is moving from NASDAQ where there is high liquidity, down to the OTC Market, where there is lower liquidity. In a bout of relative irony as mentioned in our prior reporting on Starry Group Holdings, Inc., (OTC PINK:STRY), a delisting from NASDAQ to the OTC Market in this current market, can ironically still have an undercurrent of bullish growth due to the constantly shifting narrative of investor mindsets. In in this STRY blog update, we reported on the fact that STRY was recently announced as being suspended from trading on NASDAQ and was demoted to the OTC Market and while the initial announcement saw a large decline, it was followed by a massive price per share push to the upside. The big surge was largely inspired by the elevated reporting standards that are required of NASDAQ stocks which caused a “one persons trash may be another persons treasure” scenario. OTC Market investors were eager to buy into STRY for a short-term pump because the requirements of filing on NASDAQ that STRY previously adhered to meant that while it couldn’t remain on NASDAQ, it was in fact, by default, one of the most transparent and heavily reporting, audited, and SEC filing companies available on the OTC. While the growth strategy there was short-lived it went to show the new strategies being employed by investors in this current market.
The last of the NASDAQ penny stocks series that we have reported on, was that of Advaxis, Inc., (OTCQX:ADXS). In this ADXS update, we reported on this company seeing sudden outsized growth as a result of a recent merger agreement with Ayala Pharmaceuticals, Inc., (NASDAQ:AYLA). Unsurprisingly the news of an OTC stock merging with a NASDAQ listed stock resonated powerfully with investors and led to a big run on ADXS.
HLBZ is one that we believe that everyone should watch closely because while it is yet another in a series of a clear shift from the OTC Market to NASDAQ stocks, it is of particular interest because of what we saw happen with STRY group as mentioned above. STRY saw huge growth action after being suspended from NASDAQ due to OTC Market investors interest in such a fully reporting transparent penny stock, so it will be interesting to see if HLBZ managed to see the same, if it does happen to find itself fully suspended.
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