![]() ![]() The OTC fallout will also benefit older firms with longer operating histories. When other unknown firms like Hello Pal International (OTCMKTS: HLLPF) can rise 4,500% after announcing cryptocurrency dreams, why wouldn’t companies like AABB do the same? Transportation & Logistics Systems (TLSS) It’s a company that any traditional investor would write off as a possible pump.īut for Reddit investors seeking a thrill ride, the long-term truth might not matter. And the AABBG cryptocurrency remains unlisted on major aggregators. ![]() The firm’s unaudited financial statements show unusually high profits even in 2018 when prices in the gold industry collapsed. Most of AABB’s claims are likely exaggerated. If true, this could help AABBG join the ranks of other successful gold-backed tokens such as PAX Gold (CCC: PAXG-USD). And earlier last week, management announced it had reached the final stages of development for its AABB Exchange. In February, AABB launched AABB Gold (CCC: AABBG-USD), a cryptocurrency supposedly backed by $30 million of the company’s physical gold reserves. The company regularly files financial statements i.e., isn’t at risk for Rule 15c2-11 delisting), and its unaudited financial statements show $13 million in profit last year.īut Reddit’s r/PennyStock investors have their eyes on AABB for a different reason: the firm’s big cryptocurrency ambitions. Most outsiders have probably never heard of Asia Broadband, a Las Vegas-based company that owns several Mexican gold, silver and base metal mines (talk about a misnomer). …or Asia Broadband (OTCMKTS: AABB) at 11 cents. Instead, these Moonshot investors are looking at cheap companies that they think will go up 10x… 100x… 1,000x. I’m not saying that r/PennyStock users focus on quality. “Downvote away you f*cking idiots, but don’t say I didn’t warn you.”Ĭouldn’t have said it better myself. “TL DR: BBIG is an unprofitable shell company with no viable product who’s stock is rising because of an alleged merger with a company ran by the man who ran MoviePass and defrauded millions of people who slapped a $5b ‘valuation’ on a Tik-Tok wannabe he paid $100m for. R/PennyStock investors, however, are less impressed: Shares jumped 260% at one point before giving up some gains. Unlike its heavily moderated cousin r/WallStreetBets, the Penny Stock subreddit provides an unfiltered look into how retail investors actually feel about individual stocks.Ĭonsider Vinco Ventures (NASDAQ: BBIG), a firm both Twitter and r/WallStreetBets consider an ultimate short squeeze. I’ve written before that some of the best Reddit picks come from a surprising source: r/PennyStocks. Source: Catalyst Labs / The Hot Penny Stocks of Reddit
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