Over the course of the past several months, RichTv LIVE has emerged as one of the more popular YouTube channels for investors. The analysts on RichTv analyses the latest news regarding a whole range of stocks and is also known to offer information with regards to interesting penny stocks.
What To Watch
Penny stocks are almost always in demand among investors for the simple reason that it is often possible to make enormous returns on the back of the right investment. However, it takes a lot of effort to unearth interesting stocks. In its latest video, RichTv LIVE showcased Bluesky Digital Assets Corp (CNSX:BTC) (CNSX:BTC.PR.A) (OTC:BTCWF) as part of its ‘secret penny stock’ series.
The stock went on a remarkable rally in recent days and peaked on Wednesday after a significant announcement was made by Bluesky with regards to its private placement. The Bluesky stock had been trading at $.09 a share quite recently but it rallied strongly and on Wednesday it hit $.60 a share. This rally came about from the middle of October and considering the gains made by the stock, it could be a good idea for investors to perhaps take a closer look at it.
On December 16 the company announced that it closed the final stage of its private placement. The placement of its stock was done without the aid of a brokerage and in total, it managed to raise as much as $822,50 for Bluesky. It was the second and final stage of the direct offering. In this particular offering, Bluesky offered up as many as 913,888 units.
If one takes into account the two offerings made by the company, it managed to raise a total of $805,700 in total and it has clearly come to the attention of investors. Now it remains to be seen if Bluesky can add to its gains through the rest of the week. At this point, it has a market cap of only $8 million, and hence, there could be more upside if Bluesky continues to grow its business in the near term. Additionally, it only has 27 million outstanding shares that are doing the rounds at this point.
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