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Biotech And Industrial Metals Top Penny Stocks To Watch For August

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Leading market benchmarks hit new highs in July, generating interest in small-cap stocks and low-priced securities for August, according to the Investopedia penny stocks to watch for August.

Suffering sectors like industrial metals and brick-and-mortar retailers also perked up, driving swing traders and bottom feeders into the market. Such developments bode well for penny stocks in the near-term, even though traders have to recognize higher than average risk.

Biotech stocks performed well during the month as major sector funds broke out of basing patterns set in 2015. The strength of biotechs signals the start of secular uptrends that should support rallies at all capitalization levels in the next few months.

Four of this month’s stocks return from the previous two months while the balance are newcomers.

1. ImmunoGen Inc. (IMGN)

Source: Investopedia

ImmunoGen, Inc. has grown by more than 70% since it joined the penny stock watch list in June, raising odds for double digit growth.

Immunogen, a provider of antibody-drug conjugates for the treatment of cancer, leads the top penny stocks for the second straight month after joining the list in June as the number four top stock to watch.

The stock posted a 12-year high at $20.25 in 2013 and sold off to $5.34 in December 2014. A recovery in 2015 stalled less than a point below the prior peak, creating a decline that continued into an 18-year low at $1.51 in November 2016.

The stock reached a 14-month high above $8.00 in early July. A mid-month pullback dropped the stock into intermediate support at the 50-day EMA, creating a healthy bounce that could now test the prior high, pushing into double digits.

ImmunoGen creates targeted cancer therapeutics. The company’s candidate, mirvetuximab soravtansine, is in a Phase 3 trial for an ovarian cancer, and is in Phase 1b/2 testing in combination regimens for an earlier-stage disease.

The technology is used in Roche’s Kadcyla, in three other clinical-stage ImmunoGen product candidates, and in programs in development by Amgen, Bayer, Biotest, CytomX, Lilly, Novartis, Sanofi and Takeda.

2. RADA Electronic Industries, Ltd. (RADA)

Source: Investopedia

RADA Electronic Industries, Ltd. (RADA), a defense electronics system of advanced electronic systems for airborne and land applications, rose from number 7 in July’s top penny stocks to watch to number two in August.

The stock fell into a multi-decade decline after it joined Nasdaq in the 1990s. It ground out a series of lower highs and lows through January 2016’s all-time 54-cent low. The stock spent 16 months moving sideways in a narrow basing pattern before turning higher in May 2017 and rallying back to 2016 resistance at $1.78. The bullish activity completed a cup and handle breakout pattern that could point to a fast rally into the August 2015 gap between $3.70 and $2.50.

The stock continues to gain strength, targeting the August 2015 gap at $4.24

Revenues totaled $4.7 million in the 2017 first quarter, up 91% compared to revenues of $2.5 million in the first quarter of 2016.

Gross profit totaled $1.7 million in the first 2017 quarter of 2017, a gross margin of 35.7%, compared to gross profit of $6,000 (gross margin of 0.2%) in the 2016 first quarter.

Operating income was $0.4 million in the first 2017 quarter compared to an operating loss of $1 million in the 2016 first quarter.

Net income attributable to RADA’s shareholders in the 2017 first quarter was $0.4 million, $0.02 per share, versus a net loss of $1.8 million, or $0.23 per share, in the 2016 first quarter.

3. 22nd Century Group, Inc. (XXII)

Source: Investopedia

22nd Century Group, Inc., a plant biotechnology company that is a provider of tobacco harm reduction and development of proprietary hemp/cannabis strains, rose from the number five spot in July’s top penny stocks to watch to number three in August.

The stock broke out above multi-year resistance near $1.50 in 2013, rallying to a record high a few months later at $6.36. It then began a persistent decline through August 2015 before finding support at 56 cents, followed by a bounce to $1.75.

The stock traded within those boundaries for 22-months, bouncing at support three times and reversing at resistance in equal measure. The price returned to that level a fourth time, improving odds for a breakout that could double the price in the year’s second half.

The stock found support near 70 cents in the second half of the year, testing that level three times ahead of a March 2017 uptick that has now reached ranged resistance. A breakout over $2 should draw strong buying interest favoring a high percentage rally back to its 3-year high.

The stock joined the Russell Microcap Index two months ago, when FTSE Russell reconstituted its U.S. and global equity indexes.

Membership in the Russell Microcap Index signifies automatic inclusion in the value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

22nd Century Group focuses on genetic engineering and plant breeding that allows the increase or decrease of nicotine levels in tobacco plants and cannabinoids levels in cannabis plants. Its primary goal for tobacco is to lessen the harm caused by smoking. The primary goal for cannabis is to develop proprietary hemp/cannabis strains for new medicines and agricultural crops.

4. Ballard Power Systems, Inc. (BLDP)

Source: Investopedia

Ballard Power Systems, Inc. (BLDP), a provider of clean energy products that reduce customer costs and risks, and helps customers solve challenges in their fuel cell programs, rose from the number 10 spot in the July penny stocks to watch to the number four spot in August.

The stock reached an all-time high at $144.95 in 2000 before falling for more than 12 years, reaching an all-time low at 56 cents. A 2013 uptrend continued through 2014, reaching an 8-year high at $8.38, followed by a correction that returned to 2015 resistance at $3.10.

The recovery wave reached new resistance in April 2017, generating a 3-month symmetrical triangle pattern that could yield an uptrend into the prior high.

Total revenue was $22.7 million in the last quarter, an increase of 39% from growth in both power products and technology solutions.

Gross margin was 42% in the quarter, an improvement of 22 points due to a shift in product mix toward higher margin technology solutions and a heavy duty motive for the China market, including the establishment of a production line in Yunfu, China for the manufacture and assembly of FCvelocity-9SSL fuel cell stacks.

Cash operating costs were $10 million in the quarter, a 6% increase due to higher research and product development expenditures as well as a stronger Canadian dollar relative to the U.S. dollar, since a significant amount of cost is denominated in Canadian dollars.

Low-priced biotech stocks have risen following a long slumber, with steady buying interest likely to continue. This group should offer a variety of profitable penny stock plays during the quiet summer trading season, while low-priced stocks in other sectors move into narrow trading ranges.

5. Trilogy Metals, Inc. (TMQ)

Source: Investopedia

Trilogy Metals Inc., which engages in the development and exploration of mineral properties, joins the top penny stocks to watch list this month at number 5. The Vancouver, Canada-based company went public on the U.S. exchanges in April 2012 at $3.20, beginning an immediate downtrend to an all-time low at 15 cents in January 2016. A recovery wave mounted the 200-day EMA at 60 cents that stalled three months later, yielding a narrow basing pattern into a July 2017 recovery that has reached a 2-year high at $1.22.

A pullback to new support in the 80- to 85-cent price range should mark a low-risk buying opportunity, as the upside that could reach $2.

Trilogy Metals Inc. reported a strong working capital position of $20.1 million in the second quarter, with cash on hand of $14.5 million.

For the three months ending May 31, 2017, the company reported a net loss of $2.4 million compared to a net loss of $1.6 million for the corresponding period in 2016. This variance was primarily due to the size of the field programs at the Upper Kobuk Mineral Projects in 2017 as well as the timing of the program.

An increase of $840,000 of mineral property expenses occurred during the three months ended May 31, 2017 compared to the three months ended May 31, 2016. In 2017, the field program at Arctic and Bornite began with drilling by early June compared to 2016 where the field program kicked off in early July. This earlier start resulted in an increased mineral property expense during the second quarter of 2017. Additionally, an increased level of ongoing technical studies was occurring during the three months ended May 31, 2017 compared to the corresponding period in 2016.

The company announced a financial partnership with South32 Limited for an option to form a 50/50 joint venture for a minimum investment of $150 million. South32 is required to fund a minimum of $10 million per year for up to three years to keep the option in good standing. The first $10 million has been advanced to the company and will be spent on a 12,000-meter exploration drill program at the Bornite deposit, which is already underway.

6. Antares Pharma, Inc. (ATRS)

Source: Investopedia

Antares Pharma, Inc., which focuses on self-administered parenteral pharmaceutical products, caught fire after suffering an all-time low at 29 cents in January 2009, then delivering a strong uptrend continuing into the July 2012 all-time high at $5.58. The stock then fell in multiple selling waves that ended at a 6-year low in March 2016.

The subsequent recovery has now completed a round trip into the April 2015 high, retracing half of the multi-year decline. The price has consolidated above $3 for the past three months, establishing the final stage of a 2-year cup and handle pattern targeting the multi-year high.

The company recently reported operating and financial results for the second quarter ended June 30, 2017. The company reported revenue of $13.4 million and a net loss per share of $0.02 for the three months ended June 30, 2017.

Revenue for the three months ending June 30, 2017 was $13.4 million, compared to $12.2 million for the comparable period in 2016. For the six months ended June 30, 2017, total revenue was $25.4 million, versus total revenue of $24.5 million for the six months ended June 30, 2016.

Product sales were $7.3 million for the three months ended June 30, 2017, compared to $8.7 million for the comparable period in 2016, totaling $17.4 million for the six months ended June 30, 2017 compared to $19.5 million in the same period of 2016.

The decrease for the period was primarily driven by a reduction in sales of pre-launch auto injector devices for use with Teva’s generic epinephrine product and reduced sumatriptan product shipments to Teva partially offset by increased sales of OTREXUP.

The company also completed a non-dilutive, 5-year debt financing with Hercules Capital, providing Antares the ability to draw up to $35 million, with the first tranche of $25 million funded upon execution of the agreement.

7. Corindus Vascular Robotics, Inc. (CVRS)

Source: Investopedia

Corindus Vascular Robotics, Inc. topped out near $4.60 in 2015 and began a steep decline in January 2017 when it posted a multi-year low at 40 cents. The stock rebounded on strong volume one month later, marking an uptrend that reached an 18-month high at $2.25 in early July. The stock has been consolidating at new support for the last three weeks, settling on the 50-day EMA while its on-balance volume holds near the rally high. The bullish configuration favors continuing upside that could reach 2015 resistance at $3.

Second quarter revenue was $2.3 million compared to $0.5 million for the same period in the prior year. The increase is due mainly to CorPath GRX Systems and capital upgrade sales.

The company installed three new CorPath GRX Systems in the second quarter, increasing the installed base to 16 systems and the total installed base to 51 systems. The installed base of 16 systems accounted for almost 90% of all CorPath cassettes shipped for revenue in the second quarter.

Gross profit was $58,000 for the second quarter, compared to a loss of $0.6 million for the second quarter of 2016. The cost of revenues for the second quarter continued to include the effect of under-utilization of production facilities as well as the cost of CorPath GRX system upgrades installed pursuant to contractual service arrangements with no corresponding revenue in the period.

Selling, general and administrative expenses were $5.9 million, compared to $4.4 million in the second quarter of 2016. The increase is primarily due to higher compensation and travel expenses associated with incremental sales headcount, investment in medical education and international sales initiatives, and incremental non-cash stock-based compensation expense related to the CEO and commercial leadership transitions during 2016.

8. Medical Transcription Billing Corp. (MTBC)

Source: Investopedia

Medical Transcription Billing Corp., a healthcare information technology company that provides proprietary web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings, went public at $4.28 in July 2014 and entered a downtrend that continued to the April 2017 all-time low at 29 cents. The stock recovered two sessions later in reaction to positive sales news and topped out at $3.84 in mid-May.

A subsequent pullback has now since reached support at the 200-day EMA near $1.20, with a rally from this level generating buying signals favoring ongoing upside into the second quarter high.

Revenues for second quarter 2017 were $7.8 million, an increase of 49% versus $5.2 million in the same period last year. The increase was mainly due to the MediGain acquisition.

The second quarter 2017 GAAP net loss was $1.7 million, or 22% of revenue, an improvement of $1 million compared to a net loss of $2.7 million in the first quarter 2017. The GAAP net loss in the second quarter 2017 was mostly a result of non-cash amortization and depreciation expenses of $1.5 million.

The second quarter 2017 GAAP operating loss was $1.4 million, or 18% of revenue, which represents an improvement of $1 million or 43% from the $2.4 million operating loss in the prior quarter.

As of June 30, 2017, the company had $5.8 million in cash and a working capital deficiency of approximately $4.1 million.

The company raised gross proceeds of $2.3 million from a registered direct offering of its common stock priced at the market on May 10, 2017. MTBC issued 1 million registered shares of common stock to a healthcare institutional investor at a purchase price of $2.30 per share. Concurrently in a private placement, MTBC issued warrants to purchase up to 2 million shares of its common stock, with an exercise price of $5 per share, which are exercisable through May 15, 2018, and would deliver potential gross proceeds of up to $10 million if exercised.

In addition, the company raised gross proceeds of $7.4 million from the sale of about 295,000 additional shares of its non-convertible Series A Preferred Stock on June 23, 2017.

9. Intrepid Potash, Inc. (IPI)

Source: Investopedia

Intrepid Potash, Inc., the only U.S. producer of muriate of potash, sold off to 2008 support at $13.80 in 2014. Two years later, the stock began a decline that reached an all-time low at 65 cents in March 2016. The stock rose above $1.50 in June before settling in a sideways pattern ahead of a December 2016 breakout that soon stalled at $3.04.

The stock spent the last eight months consolidating its gains and is now testing the rally high. A breakout could generate an uptrend reaching 200-week EMA resistance between $6 and $8.

Intrepid generated a second quarter net loss of $5.9 million, or $0.05 per share, delivering a first half net loss of $19.6 million, or $0.19 per share. This marked an improvement over the net losses of $13.4 million, or $0.18 per share, and $31.8 million or $0.42 per share, in the second quarter and the first half of 2016, respectively.
Improvements in year-over-year net loss per share were driven in part by a gain in outstanding shares from a March 2017 secondary offering.

Consolidated gross margin advanced to $3.7 million and $0.8 million in the second quarter and the first half of 2017, respectively, against the prior year. Improvements were due to lower cost solar potash production and higher average net realized potash pricing that offset lower average net realized sales prices for the product, Trio.

Cash provided by operating activities rose year-over-year to $9.7 million and $11.5 million for the second quarter and the first half of 2017, respectively. Increased cash flow was due to strong spring demand, increased potash prices, and the elimination of costlier conventionally mined potash from the production profile.

10. Tantech Holdings, Ltd. (TANH)

Source: Investopedia

Tantech Holdings, Ltd., a manufacturer bamboo-based charcoal products for industrial energy applications and household cooking, heating, purification, agricultural and cleaning uses, went public at $6.00 in March 2015 and began an uptrend that topped out at $33.97 five months later. In the next three months, the stock relinquished more than 90% of its value. Bears maintained control into the April 2017 all-time low at $1, followed by a recovery that reached a 10-month high in July.

Pricing has tested resistance at the September 2016 breakdown through the October 2015 low, with a buying surge setting the stage for upside in the $6 range.

For the six months ended December 31, 2016, revenues were $24.88 million and net earnings were $2.77 million, according to a June 2017 financial report.

Gross margins widened from 25.02% to 30.33% compared to the same period last year, with EBITDA operating margins 18.28% compared to 18.64% the prior year. Year-on-year change in operating cash flow was 32.02%, about the same as the change in earnings.

Penny stocks require investors to make some guesses about the future. Very few such stocks have a sufficient track record to indicate they will prosper. At the same time, the stocks on this list are in significant industries and have the potential to be vital players in those industries.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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3.9 stars on average, based on 8 rated postsLester Coleman is a veteran business journalist based in the United States. He has covered the payments industry for several years and is available for writing assignments.




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Overstock.com Shares Spike 17% After Chinese Private Equity Firm Pledges $270 Million for tZERO

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Shares of Overstock.com (OSTK) surged in after-hour trading Thursday after a major Chinese equity firm agreed to invest in tZERO, the blockchain subsidiary vying to reshape the investment world through a SEC-regulated alternative trading system (ATS).

GSR Capital to Invest Heavily in tZERO

CNBC confirmed on Thursday that Hong Kong-based GSR Capital will invest up to $270 million in tZero. The investment is based on a valuation of $1.5 billion, giving GSR an 18% stake in the new blockchain startup. GSR will also buy $30 million worth of tZERO security tokens.

“We are honored to have GSR Capital as a strategic investor,” said tZERO CEO Saum Noursalehi in a statement, as quoted by CNBC. “The tokenization of securities has the potential to disrupt global capital markets responsible for moving hundreds of trillions of dollars. Together with our partners, we will globalize our blockchain-based platform, bringing more efficiency, liquidity, and trust to capital markets.”

The announcement came less than six weeks after GSR Capital signed a letter of intent with Overstock to purchase $160 million worth of security tokens.

Launched in December, tZERO’s initial coin offering (ICO) has raised $134 million to finance its ATS infrastructure, which will provide a regulated venue for securities trading. The company plans to build similar systems around the world.

Despite a highly successful crowdraise, documents submitted to the SEC earlier this year revealed a target of $250 million. Independent valuations had placed tZERO’s ICO anywhere between $200 million and $500 million.

Overstock.com Spikes

Overstock.com’s share price was up by as much as 21% after-hours. It would eventually settle at $45.40 for a gain of 17.6%.

As the following chart illustrates, the OSTK price rose 4.5% in regular trading on Thursday to settle at $38.60.

Despite the gain, OSTK has been a dismal performer this year. Share prices are down 40% year-to-date, vastly under-performing the Nasdaq Composite Index, which has returned more than 14%.  What’s more, the stock is trading at less than half of its 52-week high.

Overstock’s share price has been rocked by disappointing quarterly results and the cancellation of a proposed public stock offering. Last March, the company offered four million shares of common stocks before abruptly cancelling those plans. Noursalehi said the decision to pull the offering was due to “market volatility and price.” To be sure, OSTK had declined 20% following the initial announcement to issue common stock.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 548 rated postsSam Bourgi is Chief Editor to Hacked.com, where he specializes in cryptocurrency, economics and the broader financial markets. Sam has nearly eight years of progressive experience as an analyst, writer and financial market commentator where he has contributed to the world's foremost newscasts.




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A Closer Look at Boerse Stuttgart’s New Cryptocurrency Platform

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The Boerse Stuttgart group has is expanding upon past product launches to create a complete holistic ecosystem for digital assets, including cryptocurrencies. This comes on the heel of them launching the “Bison” app, which allowed users to trade cryptocurrencies with zero fees, similar in functionality to that offered by Robinhood.

The difference between Bison and Robinhood, however, is that the Boerse Stuttgart group is the second largest derivatives exchange in Germany. Another unique feature of the Bison app was its “crypto radar” feature.

This functions as a social media tool that aggregates more than 250k tweets and analyzes them to determine the “mood” of cryptocurrency investors.

Having an existing (and profitable) large financial firm expanding their brand to cryptocurrencies in any capacity reflects a market that is increasingly accepting the reality of institutional capital flowing into crypto markets.

The new ecosystem is composed of three distinct pillars. Bison represents the first of these pillars. The second is a branded platform for initial coin offerings to sell tokens. The third is a safe custody solution for digital assets.

This ecosystem, in turn, falls within Boerse Stuttgart’s so called “digitization” strategy and should serve as a bellwether of changes to come in financial markets. After all, as an established market player, Boerse Stuttgart Group has extensive knowledge in the fields of technology, regulation, and trading models respectively.

According to their own CEO Alexander Höptner, “On this basis, we can offer central services along the value chain for digital assets, all under one roof. Investors and market participants know that Boerse Stuttgart Group stands for quality, transparency, and reliability. As a Germany-based provider, we want to transpose this standard into the digital world. We will help to promote acceptance of digital assets.”

The key to their ambitions focuses on solving two major problems. The first is that KYC procedures tend to be overly complex for average investors, as well as time-consuming. The Boerse Stuttgart group’s own KYC solution allows traders to pass KYC and start trading within minutes, as opposed to more typical solutions that take a few days.

The second issue they are tackling the liquidity and accessibility of ICO tokens post-sale. They solve this by allowing tokens launched through their platform to be traded within their broader ecosystem using Bison.

According again to the CEO, “At the trading venue tokens issued via our ICO platform can be traded on the secondary market. This is an important success factor for ICOs. At the same time, we are responding to demand from both retail and institutional investors for a regulated and reliable environment for trading with cryptocurrencies. Furthermore, established cryptocurrencies like Bitcoin or Ethereum will also be traded.”

This approach will likely serve to establish the Boerse Stuttgart group a prime recipient of crypto-intrigued institutional capital. After all, the early bird gets the worm. A key component of this future success also rests on how well they partner with authorities.

This exact point was also emphasized recently by the CEO, who said, “In designing the strategic projects we closely cooperate with all competent boards and committees, and especially with the supervisory authorities.”

While it remains to be seen whether retail investors make use of this ecosystem, it seems reasonable to assume that larger investors will flock to a simple crypto-specific ecosystem backed by an old guard stalwart of finance.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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MasterCard Could Be Your Best Friend

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Since just after the financial crisis, I have been searching for a way to beat MasterCard and Visa at their own game. These two brands dominate the business of processing debit and credit card transactions.  I have always considered this duopoly as the enemy of mankind, but could turn out to be a hasty judgement.

MasterCard and Visa don’t actually process transactions as much as they offer an electronic network and charge fees for the use of their name.  They collect about 0.11% per card swipe which ain’t much until you consider they are running more than 150,000 transactions per minute through their network.  Pretty nice business to be in. All together, the two will generate about $30 billion this year.

The problem with both of these guys is that it is impossible to get around them.  If you buy something anywhere in the world with a debit or credit card, it is almost guaranteed to run on either the Visa or MasterCard network.  In which case, in addition to the 0.11% taken out for the network, the store that accepts your purchase pays anywhere from 3% to often as much as 5% in total for processing fees.  And if you travel abroad and charge something, well forget about it. Everywhere along the network are intermediaries taking their nick of your wallet.

When foreign currency transaction fees are taken into account, that is where more intermediaries are included.  That is where the costs add much higher and that is often where the consumer is hurt most.

Fighting Back

The whole idea behind blockchain technology is to make transactions of all types fast with little or no dependency on intermediaries.  All this makes MasterCard and Visa the enemy of cryptocurrency developers. But neither of these brands are sitting still applying for patents on blockchain based payments methods.

The natural reaction is to sell to sell your crypto and find some easier way to earn a decent return.  We disagree: we think there is crypto to be made from MasterCards strategy. Here is why you should be encouraged.

ome time back, MasterCard applied for a patent on blockchain technology that created a link between crypto and fiat currencies. MasterCard is not alone, as there are any number of crypto projects with the same idea.  Recently we looked at TenX and there are others.

Using TenX for comparison, MasterCard’s recently awarded patent offers to convert crypto to fiat using the existing MasterCard network.  TenX and many others plan either create their own high speed mainnet or use the Ethereum platform.

In head to head competition, this gives MasterCard a sizable advantage since MC is pretty much accepted by merchants everywhere.  As much as I hate the duopoly represented my MC and Visa, right now they could turn out to be the best thing to happen for one simple reason.  They will unquestionable accelerate mass acceptance of crypto.

Their existing network and transaction speed, immediately solves the lingering Bitcoin/Ethereum issue of scalability.  In addition as observers have pointed out, both MC and Visa have had systems in place to identify fraudulent transactions.

Having said all of this, is MasterCard going to kill all other crypto payment wanabys like TenX and others? Before concluding the answer is yes, consider this.  In their recently released quarterly review to shareholders, MasterCard reported net income of $2.33 billion on revenue of $5.24 billion. That is a whopping profit margin of 44.5%!  This towers over extraordinarily profitable companies like Apple at 20.3% or the average US corporation at less than 10%.

When MasterCard’s blockchain system goes into use, it will plump up those already MC margins. So, as a crypto investor, you have to ask yourself, do you actually think that MC will pass on those savings or wallow in the cost savings?  The answer is pretty obvious.

MasterCard Could Be The Best News

Crypto naysayers are the first to deny that Bitcoin and others are a legitimate medium of exchange.  This is based largely on the limited number of mainstream merchants that are in the crypto loop. MasterCard could help take crypto mainstream and that would be a good thing for major names like Bitcoin, Bitcoin Cash and Ether.  And with the payments processing business dealing in over $50 trillion in transactions annually, there will be room for startups offering high speed scalability at lower cost. It will not happen this year but it will happen.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 96 rated postsJames Waggoner is a veteran Wall Street analyst and hedge fund manager who has spent the past few years researching the fintech possibilities of cryptocurrencies. He has a special passion for writing about the future of crypto.




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