Bitcoin miner Bitfarms , has appointed insider Ben Gagnon as its new chief executive officer to oversee a strategic review and navigate a dispute with its biggest shareholder, Riot Platforms.
Examining stocks that could turn $100 into $1,000 reveals the exciting potential of the penny stock market.
Low-priced stocks are attractive as they provide an opportunity to create a diversified portfolio with limited funds. Additionally, there are speculative ideas among low-priced stocks that attracts investors for quick returns at the blink of an eye.
U.S. stock futures were mixed this morning, with the Nasdaq futures gaining around 0.2% on Friday.
These companies could be potential targets or buyers in the second half of 2024.
Investing in growth stocks under $10 could prove incredibly lucrative over the long term. However, with mega-cap stocks dominating the market, it's easy to overlook penny stocks that could become giants in the future.
Bitfarms (NASDAQ: BITF ) stock is in the news Monday on an update to Riot Platforms' (NASDAQ: RIOT ) plan to take over the cryptocurrency mining company. Riot Platforms has withdrawn its previous offer to acquire all outstanding shares of BITF stock for $2.30 each.
Bitfarms Ltd (NASDAQ: BITF) opened about 10% down on Monday after Riot Platforms Inc (NASDAQ: RIOT) withdrew its $2.30 per share offer to takeover the bitcoin miner. Shares of Riot Platforms are also in the red at writing.
Bitcoin miner Riot Platforms said on Monday it was withdrawing its offer for Bitfarms and had nominated three directors to the board of rival crypto miner.
When searching for the hidden treasures in the stock market, it's easy to focus on the big-name companies with equally big price tags. However, it's wise not to overlook stocks under $10 to buy.
Bitfarms (NASDAQ: BITF) and Riot Platforms (NASDAQ: RIOT) stock prices have been in the spotlight in the past few weeks. BITF has surged by over 78% in the past 30 days, giving it a market cap of over $1.19 billion.
In the vast expanse of the stock market, penny stocks often go unnoticed by the typical investor. However, for those willing to wade through the riskier waters of low-priced equities, the potential rewards are enormous.