Latest news for Skkynet Cloud Systems (OTC:SKKY) Stock

Skkynet Cloud Systems Inc is an industrial middleware vendor company. It provides connectivity and data acquisition to a wide variety of industrial and office hardware and software products. The company's Skkynet Connected Systems platform includes the DataHub and Embedded Toolkit software. The company provides three types of cloud services: remotely hosted cloud systems and locally hosted cloud systems or a hybrid of the two. The business serves North America, Europe, Asia Pacific, South America and other regions.

Long Ideas

News

Penny Stocks

Insider Trades

Markets

Trading Ideas

HGBL

PALI

SKKY

VINO

US crude oil futures traded lower this morning on Friday. Investors, meanwhile, focused on some notable insider trades.

When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

4 Penny Stocks Insiders Are Buying: Heritage Global, Palisade Bio And More

SKKYNET CLOUD SYSTEMS INC by Skkynet Cloud Systems Inc.

Skkynet Cloud Systems Inc

<p>US crude oil futures traded lower this morning on Friday. Investors, meanwhile, focused on some notable insider trades.</p>
<p>When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.</p>
<p>Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"><em> Benzinga&#39;s insider transactions </em></a> platform.</p>
<h2><strong>Gaucho Group </strong></h2>
<ul>
<li><strong>The Trade:</strong> <strong> Gaucho Group Holdings, Inc.</strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vino#NASDAQ">VINO</a>) Director Reuben Cannon <a href="https://www.benzinga.com/sec/insider-trades/"><em> acquired a total of 8,416 shares </em></a> at an average price of $3.60. To acquire these shares, it cost $30.27 thousand.</li>
<li><strong>What&rsquo;s Happening:</strong> The company&rsquo;s stock has climbed around 16% since the start of the year.</li>
<li><strong>What Gaucho Group Does:</strong> Gaucho Group Holdings Inc develops and operates real estate projects in Argentina. It operates a hotel, golf and tennis resort, vineyard and producing winery in addition to developing residential lots located near the resort.</li>
</ul>
<h2><strong>Palisade Bio </strong></h2>
<ul>
<li><strong>The Trade</strong>: <strong> Palisade Bio, Inc. </strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pali#NASDAQ">PALI</a>) Chief Medical Officer Michael Dawson <a href="https://www.benzinga.com/sec/insider-trades/"><em> acquired a total of 15,000 shares </em></a> at an average price of $1.14. The insider spent around $17.09 thousand to buy those shares.</li>
<li><strong>What&rsquo;s Happening</strong>: Palisade Bio recently announced it received a &quot;Study May Proceed&quot; letter from the FDA for a phase 3 clinical trial evaluating LB1148 to accelerate the return of bowel function following abdominal surgery.</li>
<li><strong>What Palisade Bio Does</strong>: Palisade Bio Inc is a clinical-stage biopharma company. It is advancing oral therapies that help patients with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage.</li>
</ul>
<p><a href="https://www.benzinga.com/trading-ideas/long-ideas/22/04/26421307/executives-buy-over-17m-of-3-stocks"><em>Also check this: Executives Buy Over $17M Of 3 Stocks </em></a></p>
<p><em>Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>.</em></p>
<h2><strong>Heritage Global </strong></h2>
<ul>
<li><strong>The Trade</strong>: <strong> Heritage Global Inc. </strong> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hgbl#NASDAQ">HGBL</a>) Director Michael Hexner <a href="https://www.benzinga.com/sec/insider-trades/"><em> acquired a total of 18,657 shares </em></a> at an average price of $1.35. To acquire these shares, it cost around $25.19 thousand.</li>
<li><strong>What&rsquo;s Happening</strong>: The company recently posted weak quarterly earnings.</li>
<li><strong>What Heritage Global Does</strong>: Heritage Global Inc is a diversified financial services company.</li>
</ul>
<h2><strong>Skkynet Cloud Systems </strong></h2>
<ul>
<li><strong>The Trade</strong>: <strong> Skkynet Cloud Systems, Inc. </strong> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/skky#OTC">SKKY</a>) President Paul E Thomas <a href="https://www.benzinga.com/sec/insider-trades/"><em> acquired a total of 10,000 shares </em></a> at an average price of $0.19. The insider spent $1.88 thousand to buy those shares.</li>
<li><strong>What&rsquo;s Happening</strong>: The company&rsquo;s shares tumbled 73% over the previous six months.</li>
<li><strong>What Skkynet Cloud Systems Does</strong>: Skkynet Cloud Systems Inc is an industrial middleware vendor company. It provides connectivity and data acquisition to a wide variety of industrial and office hardware and software products.</li>
</ul>


Skkynet Cloud reports Q1 record sales growth of 28%

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>&ldquo;Finding the next big-cap tech stock&rdquo; is a popular catchphrase on Wall Street. But&nbsp;actually&nbsp;finding such unknown <a href="https://investorplace.com/industries/technology/">tech stocks</a> before they become popular is very difficult. The tech sector is dominated by a few giants, and up-and-coming startups often get acquired quickly by these behemoths. However, this doesn&rsquo;t mean there aren&rsquo;t opportunities out there for massive returns. If you get lucky, and pick companies with a promising outlook, 100X returns are certainly possible (there are plenty of historical examples to point to).</p>



<p>Such tech startups could see this kind of growth only if they exceed expectations consistently. Landing big contracts in the coming years is key, and these companies will need to see the adoption of their niche technologies take off. In my opinion, this is akin to striking gold. Such overlooked opportunities are extremely rare, but potentially lucrative beyond imagination. </p>



<p>Of course, I would caution against investing a significant amount in these speculative plays for obvious reasons. These are stocks that carry substantial risk and could just as easily implode.</p>



<p>With that said, here are three unknown tech stocks to consider for your portfolio&rsquo;s speculative bucket.</p>



<h2>MultiSensor AI Holdings (MSAI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/ai1600c-300x169.jpg" alt="AI stocks"><div>Source: Shutterstock</div></div><p><strong>MultiSensor AI</strong>&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/msai-stock-quote/"><strong>MSAI</strong></a>) uses AI-powered software to predict asset reliability issues and manufacturing output deviations. Its financials have been doing terribly, and are worse by almost every metric compared to 2021. That said, a rebound seems to be underway. Its quarterly results show promising momentum. Revenue&nbsp;<a href="https://seekingalpha.com/pr/19728519-multisensor-ai-announces-first-quarter-2024-results?hasComeFromMpArticle=false" target="_blank">increased 132% year-over-year</a>&nbsp;to $2.3 million. That&rsquo;s surely noticeable, but what&nbsp;really&nbsp;stands out is the incredible 450% spike in annual recurring revenue to $2.5 million.</p>



<div><a href="https://investorplace.com/wp-content/uploads/2024/05/chart-76.png"><img width="1200" height="628" src="https://investorplace.com/wp-content/uploads/2024/05/chart-76.png" alt="MSAI revenue. Unknown tech stocks"><br>Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div><p>This company is still operating at a loss, but MultiSensor AI seems to be executing well on its AI-driven industrial monitoring answers. If this AI-related company can maintain its top-line growth rate and make the most of its cloud platforms, the path toward consistent upside could emerge sooner than anticipated.</p>



<p>Notably, analysts expectations are very bullish with this name. The company&rsquo;s <a href="https://seekingalpha.com/symbol/MSAI/earnings/estimates" target="_blank">earnings per share are expected to swing to positive levels next year</a>&nbsp;and then expand by 56% in 2026. You&rsquo;re paying just 7-times estimated 2026 earnings at these levels.</p>



<h2>Unusual Machines (UMAC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/drone-war-300x169.png" alt="A drone being used by soldiers."><div>Source: Gorodenkoff / Shutterstock.com</div></div><p>I am very bullish on drone companies right now. Modern warfare is now heavily drone-dependent, and this has kicked off an arms race of sorts between countries. China dominates this space presently, due to its well-established manufacturing base which was already making thousands of drones before they were widely used in conflicts. However, there are small Western alternatives I think are worth betting on for when the government pushes to bridge this gap.</p>



<p><strong>Unusual Machines</strong>&lsquo; (NYSEMKT:<span><a href="https://investorplace.com/stock-quotes/umac-stock-quote/"><strong>UMAC</strong></a></span>) recent quarterly results provide an early look at where this new publicly-traded drone maker may be headed. The company&rsquo;s&nbsp;<a href="https://www.unusualmachines.com/investors/news-events/press-releases/detail/7/unusual-machines-issues-letter-to-shareholders" target="_blank">$0.6 million in revenue</a>&nbsp;and 33% gross profit margin for the period following their recent acquisitions, though modest, only represent around 45 days of activity. This company was pre-revenue before, so I expect numbers to surge from these low levels, particularly when the company has a whole quarter to work with.</p>



<p>Unusual Machines&rsquo; real potential lies in the strategic shift toward serving an important customer &ndash; the U.S. military. As the defense industry looks to domestic options for non-Chinese-made drones due to new guidelines, Unusual Machines&rsquo; American-made vehicles that meet these standards have them poised for massive growth.</p>



<p>The company&rsquo;s first defense product is on track for release next month and will soon undergo an important evaluation for use. This could potentially open the door to significant contracts from the country&rsquo;s defense agencies.</p>



<p>However, investors should also remember that sales to the military typically fluctuate around the end of the fiscal year in September. Sustained growth will still depend on the continuing success of the consumer drone market. It&rsquo;s a small company, but if it takes off, multi-bagger returns are certainly in the cards.</p>



<h2>Skkynet Cloud Systems (SKKY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/data1600e-300x169.jpg" alt="a stock image of a person working on data charts using a futuristic computer."><div>Source: Shutterstock</div></div><p><strong>Skkynet Cloud Systems</strong>&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/skky-stock-quote/"><strong>SKKY</strong></a>) is a company that specializes in real-time data communication for industrial systems. It also offers services to help companies move data across data centers. So, with the current data boom going on, I have a strong conviction in the stock.</p>



<p>Skkynet delivered an impressive first quarter, with record&nbsp;<a href="https://skkynet.com/skkynet-reaches-record-sales-growth-in-first-quarter/" target="_blank">revenue growth of 28% year-over-year to $630,536</a>. This robust top-line growth, coupled with the company&rsquo;s swing to profitability with a net income of $23,951, shows the increasing demand for data-related services, especially in the industrial sector. This small-cap company is very well-diversified across geographic segments for its size.</p>



<div><a href="https://investorplace.com/wp-content/uploads/2024/05/chart-77.png"><img width="1226" height="741" src="https://investorplace.com/wp-content/uploads/2024/05/chart-77.png" alt="Geographic segments SKKY. Unknown tech stocks"><br>Click to Enlarge</a><div>Source: Chart courtesy of <a href="https://GuruFocus.com">GuruFocus.com</a></div></div><p>Notably, Skkynet is also about to launch their most ambitious software release yet. This release will feature enhanced security and performance capabilities tailored to enterprise needs. I think this is the most important catalyst to consider right now.</p>



<p>The company has a strong cash position and proven product-market fit. Accordingly, strong execution could unlock substantial long-term value in this niche market. The profits here are what&nbsp;really&nbsp;makes me bullish, since the software sector is riddled with loss-making dilutive startups. If Skkynet&rsquo;s software release gets more attention, I think multi-bagger returns are very likely.</p>



<p><em>On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a></em></p>
<div><p>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT771245">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT771236">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2021/01/one-percenter-issues-urgent-warning/?cid=MKT499868&amp;eid=MKT793997">It doesn&rsquo;t matter if you have $500 or $5 million. Do this now.</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
<p>The post <a href="https://investorplace.com/2024/05/3-unknown-tech-stocks-that-could-100x-your-money-really/">3 Unknown Tech Stocks That Could 100X Your Money (Really!)</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

3 Unknown Tech Stocks That Could 100X Your Money (Really!)

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>The market rally is causing investors to become more and more aggressive recently, and I believe this trend could accelerate as the rally continues. Thus, it seems to be a good time to buy some speculative stocks. Sub-$1 <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> are as speculative as you can get in the stock market. It&rsquo;s not enough for the stock to be listed on any major exchange, so we&rsquo;re almost dealing with pure pink sheets here, except for two stocks.</p>



<p>These companies have very little information about them available online and are rarely covered by analysts. Regardless, if these companies land big contracts or capture a good amount of market share in their sectors, you can easily realize 10,000%-plus gains from them in a short amount of time. The inverse is also true, so you should be very careful about what you&rsquo;re putting your money into. You&rsquo;ll only find lottery tickers below $1.</p>



<p>So, let&rsquo;s explore the seven sub-$1 penny stocks that may be worthy of consideration. </p>



<h2>NamSys (NMYSF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/03/bonus-pay-money-300x169.jpg" alt="100 dollar bills being passed from one hand to the other. Can represent stimulus checks or payment. millionaire-maker stocks"><div>Source: Maryna Pleshkun/Shutterstock.com</div></div><p><strong>NamSys Inc.</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/nmysf-stock-quote/"><strong>NMYSF</strong></a></span>) provides cloud-based cash management and currency processing software solutions, primarily serving the banking and retail sectors in North America. It has a SaaS business model, which is driving robust recurring revenue growth.</p>



<p>The company <a href="https://www.google.com/finance/quote/CTZ:CVE" target="_blank">reported total revenue of 1.66 million CAD</a> for the quarter, up an impressive 9.3% year-over-year (<strong>YOY</strong>). Notably, recurring revenue from software subscriptions, hosted services and product support surged 9.2% to 1.64 million CAD. Its flagship Cirreon Smart Safe platform is also very sticky and has little customer churn. Additionally, gross margins expanded by 1.8 percentage points to a healthy 63%.</p>



<p>While the stock has treaded water over the past five years, NamSys&rsquo; accelerating financial momentum could be the catalyst to propel shares significantly higher going forward.</p>



<h2>MariaDB (MRDB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/cloud1600c-300x169.jpg" alt="image of a cloud surrounded by various symbols related to internet connectivity and interaction"><div>Source: Shutterstock</div></div><p><strong>MariaDB</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/mrdb-stock-quote/"><strong>MRDB</strong></a></span>) is a cutting-edge cloud database company providing businesses with an open-source relational database solution. MRDB&rsquo;s flagship product offers cross-cloud flexibility and universal accessibility that appeals to organizations of all sizes. Developers praise its intuitive design, adaptability and game-changing impact within the open-source domain. In fact, it&rsquo;s been <a href="https://mariadb.com/database-topics/mariadb-vs-mysql/" target="_blank">downloaded over one billion times to date</a> and has dethroned MySQL as the go-to in Linux distributions.</p>



<p>Despite a rocky five-year stock performance, MariaDB seems to be orchestrating an impressive turnaround in recent months. Shares have skyrocketed more than 100% year-to-date (<strong>YTD</strong>). So, if the company can sustain its current growth trajectory, this rally could still have plenty of runway ahead.</p>



<p>Admittedly, gaping losses have been MariaDB&rsquo;s Achilles heel in years past. However, management deserves kudos for slashing those deficits dramatically over the last three quarters. In Q1 of 2024, net losses <a href="https://www.google.com/finance/quote/MRDB:NYSE" target="_blank">narrowed</a> to $3.5 million from $17.6 million two quarters ago. Similarly, the operating cash burn was more than halved to $7.2 million.</p>



<p>Now, MariaDB is by no means out of the woods just yet. Liquidity concerns can&rsquo;t be brushed aside. But if the company continues executing on its streamlining initiatives while driving breakneck top-line expansion, MRDB could deliver big upside.</p>



<h2>5G Networks (MLBEF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/global-earth-connections-mapped-300x169.jpg" alt="Global network of map points"><div>Source: Blue Planet Studio/Shutterstock.com</div></div><p>While the &ldquo;5G&rdquo; in its name may confuse some investors, the company actually has no relation to the 5G cellular standard rollout by telcos. Instead, <strong>5G Networks</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/mlbef-stock-quote/"><strong>MLBEF</strong></a></span>) is determined to be the one-stop-shop for Oceania businesses&rsquo; entire cloud and connectivity needs. The <a href="https://5gnetworks.au/news/webcentral-and-5g-networks-agree-to-merge/" target="_blank">merger with Webcentral</a> has created Australia&rsquo;s largest independent provider in this space. It now commands over 330,000 customers.</p>



<p><a href="https://www.google.com/finance/quote/5GN:ASX" target="_blank">Revenues were 96.1 million AUD</a>, which was basically flat for all of 2023. However, the company trimmed losses by 23.57%. I believe it has enough cash to handle losses until it turns profitable since the company is already giving cash back to shareholders. Also, 5G Networks has announced the cancellation of 816,123 of its ordinary fully paid shares following an on-market buy-back process concluded on June 28, 2024. It repurchased a total of 3,678,256 ordinary fully paid shares on the previous trading day. This is part of a larger cumulative buy-back of 20,943,629 shares to date, as <a href="https://www.tipranks.com/news/company-announcements/5g-networks-limited-continues-share-buy-back-4" target="_blank">reported by TipRanks</a>.</p>



<p>I personally think this is a bit premature, given the company hasn&rsquo;t achieved profitability yet. However, it is still promising.</p>



<h2>Zoomd Technologies (ZMDTF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/digital_marketing_16-300x169.png" alt="a photo of someone typing on a laptop on a wooden table with computer-related images"><div>Source: My Life Graphic/Shutterstock.com</div></div><p><strong>Zoomd Technologies</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/zmdtf-stock-quote/"><strong>ZMDTF</strong></a></span>) is a rising star in the marketing technology arena. Based on their latest earnings report, I believe this sub-$1 penny stock has the potential for explosive growth. The company&rsquo;s revenue <a href="https://zoomd.com/zoomd-technologies-reports-first-quarter-2024-financial-results/" target="_blank">increased by 16%</a> compared to the previous quarter, and profitability is finally within reach after six consecutive quarters of net losses.</p>



<p>Last year, management made tough but necessary strategic decisions to refocus the business. Those moves are clearly paying off. Operating profit surged nearly 950% quarter-over-quarter to $0.6 million. Adjusted EBITDA also skyrocketed by $1 million to reach $1.2 million. ZMDTF achieved this while keeping capital expenditures steady, showing an impressive ability to drive higher returns without overextending.</p>



<p>With a cash balance of $2.3 million and no long-term debt, Zoomd Technologies looks well-positioned to capitalize on the booming digital advertising market. Its unified user acquisition platform should see robust demand as more businesses shift ad dollars online.</p>



<h2>OneMeta (ONEI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/software1600d-300x169.jpg" alt="A man examines a digital screen with different icons for software."><div>Source: Shutterstock</div></div><p><strong>OneMeta</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/onei-stock-quote/"><strong>ONEI</strong></a></span>) aims to break down global communication barriers with AI-powered software. The company reported a tiny revenue of <a href="https://www.google.com/finance/quote/ONEI:OTCMKTS" target="_blank">$5,387 for the first quarter of 2024</a>, a 70% increase compared to the same period last year.</p>



<p>Despite the losses, I believe OneMeta holds good potential. Their flagship product transforms smartphones into personal translators. This technology could revolutionize international communication. In April 2024, they <a href="https://www.accesswire.com/856368/onemeta-begins-translation-services-for-the-archdiocese-of-oklahoma-city" target="_blank">began</a> providing translation services for the Archdiocese of Oklahoma City. Also, they claimed to have reduced translation and transcription speed to under 200 milliseconds.</p>



<p>However, you should keep the risks in mind. The company operates in a competitive space, with tech giants heavily investing in translation technologies.</p>



<p>Nonetheless, OneMeta&rsquo;s stock has surged 117% over the past year. If the company can effectively scale its services and show a clear roadmap to profitability, I believe OneMeta could become a major player in the global communication space.</p>



<h2>Skkynet Cloud Systems (SKKY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/cloud-computing-300x169.jpg" alt="an image of a cloud imprinted on a circuit board lit up by blue circuit lights. AVCT stock. cloud computing stocks"><div>Source: Blackboard / Shutterstock</div></div><p><strong>Skkynet Cloud Systems</strong> (OTCMKTS:<span><a href="https://investorplace.com/stock-quotes/skky-stock-quote/"><strong>SKKY</strong></a></span>) provides industrial companies with real-time data and cloud solutions. The market for these services is growing strongly due to the AI and machine learning boom. Startups like Skkynet Cloud Systems are well-positioned to benefit from this trend as more companies look to diversify their cloud operations beyond Big Tech providers.</p>



<p>In Q2 of fiscal year 2024, Skkynet&rsquo;s <a href="https://seekingalpha.com/filings/pdf/17621353" target="_blank">revenue increased 28% YOY to $601,806</a>. While still a small company, this growth is encouraging. However, losses did expand.</p>



<p>SKKY ended the quarter with $1.03 million in cash, up from $916,780 in October 2023. Its balance sheet looks clean, with minimal liabilities. Deferred revenue, a key indicator of future growth, stands at $372,451.</p>



<p>While still losing money, I&rsquo;m optimistic about the company&rsquo;s prospects in the fast-growing industrial cloud space. If it can continue scaling rapidly and win new enterprise contracts, we could see this sub-$1 stock deliver explosive returns in the coming years.</p>



<h2>Global Mofy Metaverse (GMM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/06/metaverse-1600-300x169.png" alt="Illustration of the metaverse. A young boy wearing a VR headset is in the metaverse."><div>Source: PopTika / Shutterstock</div></div><p><strong>Global Mofy Metaverse Limited</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/gmm-stock-quote/"><strong>GMM</strong></a></span>) is a technology solutions company focused on virtual content for the metaverse. While I see immense potential in this burgeoning industry, the metaverse remains a niche market that may be ahead of its time for mainstream adoption.</p>



<p>However, Global Mofy Metaverse&rsquo;s recent moves and financial results suggest it could be a pioneer in this space. The company&rsquo;s <a href="https://www.stocktitan.net/news/GMM/global-mofy-metaverse-launches-69-million-fund-with-strategic-rycf3kvnexo2.html" target="_blank">$69 million fund launch</a> could lead to aggressive growth.</p>



<p>Plus, I&rsquo;m optimistic about the partnership between GMM&rsquo;s subsidiary, Gauss AI, and Heartdub to develop a generative video AI platform, which could lead to something meaningful. Global Mofy Metaverse&rsquo;s record fiscal 2023 revenue of $26.9 million is pretty solid for a penny stock.</p>



<p>Regardless, the price is below <strong>Nasdaq&rsquo;s</strong> $1 minimum, so keep an eye out for a reverse split.</p>



<p><em><strong>On Penny Stocks and Low-Volume Stocks:</strong>&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.</em></p>



<p><em><strong>Read More:</strong>&#8239;Penny Stocks &mdash;&nbsp;</em><a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank"><em>How to Profit Without Getting Scammed</em></a></p>



<p><em>On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a></em></p>



<p><em>On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.</em></p>
<div><p>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</p></div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2023/10/no-1-ai-investment-might-be-this-company-youve-never-heard-of/?cid=MKT764787&amp;eid=MKT802110">The #1 AI Investment Might Be This Company You&rsquo;ve Never Heard Of</a>
					</li>
																<li>
						<a href="https://investorplace.com/2023/07/elon-musks-project-omega-stuns-silicon-valley-insiders/?cid=MKT738510&amp;eid=MKT766411">Musk&rsquo;s &ldquo;Project Omega&rdquo; May Be Set to Mint New Millionaires. Here&rsquo;s How to Get In.</a>
					</li>
																<li>
						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget A.I. THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul><div>
			<div></div>
						<div></div>
					</div>
	
<p>The post <a href="https://investorplace.com/2024/07/7-sub-1-penny-stocks-with-10000-upside-potential/">7 Sub-$1 Penny Stocks With 10,000% Upside Potential</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

7 Sub-$1 Penny Stocks With 10,000% Upside Potential

Skkynet Cloud Systems ( ($SKKY) ) has issued an announcement. Skkynet Cloud Systems, Inc. has appointed Xavier Mesrobian as a new director, bringin...

Skkynet Cloud Systems Appoints New Director Xavier Mesrobian

MLBEF

MRDB

MSAI

NMYSF

ONEI

UMAC

ZMDTF

Earnings

Press Releases

Skkynet Reaches Record Sales Growth in First Quarter

Skkynet Cloud Systems

<p>US crude oil futures traded lower this morning on Friday. Investors, meanwhile, focused on some notable insider trades.</p>

<p>When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.</p>

<p>Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"><em> Benzinga&#39;s insider transactions </em></a> platform.</p>

<h2><strong>Gaucho Group </strong></h2>

<ul>
	<li><strong>The Trade:</strong> <strong> Gaucho Group Holdings, Inc.</strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VINO#NASDAQ">VINO</a>) Director Reuben Cannon <a href="https://www.benzinga.com/sec/insider-trades/"><em> acquired a total of 8,416 shares </em></a> at an average price of $3.60. To acquire these shares, it cost $30.27 thousand.</li>
	<li><strong>What&rsquo;s Happening:</strong> The company&rsquo;s stock has climbed around 16% since the start of the year.</li>
	<li><strong>What Gaucho Group Does:</strong> Gaucho Group Holdings Inc develops and operates real estate projects in Argentina. It operates a hotel, golf and tennis resort, vineyard and producing winery in addition to developing residential lots located near the resort.</li>
</ul>

<h2><strong>Palisade Bio </strong></h2>

<ul>
	<li><strong>The Trade</strong>: <strong> Palisade Bio, Inc. </strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PALI#NASDAQ">PALI</a>) Chief Medical Officer Michael Dawson <a href="https://www.benzinga.com/sec/insider-trades/"><em> acquired a total of 15,000 shares </em></a> at an average price of $1.14. The insider spent around $17.09 thousand to buy those shares.</li>
	<li><strong>What&rsquo;s Happening</strong>: Palisade Bio recently announced it received a &quot;Study May Proceed&quot; letter from the FDA for a phase 3 clinical trial evaluating LB1148 to accelerate the return of bowel function following abdominal surgery.</li>
	<li><strong>What Palisade Bio Does</strong>: Palisade Bio Inc is a clinical-stage biopharma company. It is advancing oral therapies that help patients with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage.</li>
</ul>

<p><a href="https://www.benzinga.com/trading-ideas/long-ideas/22/04/26421307/executives-buy-over-17m-of-3-stocks"><em>Also check this: Executives Buy Over $17M Of 3 Stocks </em></a></p>

<p><em>Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>.</em></p>

<h2><strong>Heritage Global </strong></h2>

<ul>
	<li><strong>The Trade</strong>: <strong> Heritage Global Inc. </strong> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HGBL#NASDAQ">HGBL</a>) Director Michael Hexner <a href="https://www.benzinga.com/sec/insider-trades/"><em> acquired a total of 18,657 shares </em></a> at an average price of $1.35. To acquire these shares, it cost around $25.19 thousand.</li>
	<li><strong>What&rsquo;s Happening</strong>: The company recently posted weak quarterly earnings.</li>
	<li><strong>What Heritage Global Does</strong>: Heritage Global Inc is a diversified financial services company.</li>
</ul>

<h2><strong>Skkynet Cloud Systems </strong></h2>

<ul>
	<li><strong>The Trade</strong>: <strong> Skkynet Cloud Systems, Inc. </strong> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SKKY#OTC">SKKY</a>) President Paul E Thomas <a href="https://www.benzinga.com/sec/insider-trades/"><em> acquired a total of 10,000 shares </em></a> at an average price of $0.19. The insider spent $1.88 thousand to buy those shares.</li>
	<li><strong>What&rsquo;s Happening</strong>: The company&rsquo;s shares tumbled 73% over the previous six months.</li>
	<li><strong>What Skkynet Cloud Systems Does</strong>: Skkynet Cloud Systems Inc is an industrial middleware vendor company. It provides connectivity and data acquisition to a wide variety of industrial and office hardware and software products.</li>
</ul>
 

Comments

Skkynet Cloud Systems

News

Latest news for Skkynet Cloud Systems (OTC:SKKY) Stock

Friday, April 01, 2022

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga