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Hot Penny Stock Under 10 Cents: JPEX
6 min read
Previously under the custodianship of Alpharidge Capital, LLC, JPX Global, Inc.’s (OTC: JPEX) merger candidate was announced on October 29th setting FinTwit ablaze with the announcement. A clean shell which had been defunct since 2019, the company is now back on investors’ radars as it’s merger with VeeMost Technologies, LTD is officially announced making JPEX a hot penny stock to watch.
Catalysts
JPEX announced a reverse merger on July 21st, as Caren Currier took on the role of interim president and CEO. With growing anticipation surrounding the merger, JPEX took to twitter to update its shareholders on certain topics. They reassured investors that there will not be a reverse split or dilution with the upcoming merger. JPEX also shared a list of strategic partnerships it has secured, saying it is “working diligently to secure more partnerships that will enable us continue our exponential growth $JPEX”.
JPEX’s custodian, Alpharidge Capital, LLC, went a step further assuring investors that it will include a restrictive clause forbidding reverse-splits for a minimum of two years. This clause is contingent upon JPEX finalizing its merger agreement but the company is also working to reduce the number of outstanding shares.
Despite no official statement identifying the merger candidate, many had speculated it would be Veemost – a cybersecurity company that specializes in designing, deploying, and managing secure digital solutions and platforms for its customers. Melvin Ejiogu – CEO of VeeMost – has decades of experience in tech and has worked in large-scale companies like AT&T. According to its website, Veemost has secured $75 million in contracts with both private and public entities, with many more planned projects for the upcoming few years.
These speculations became reality on October 29th when JPEX officially announced its merger with VeeMost Technologies, LTD . The agreement between both companies was executed in an all cash transaction where VeeMost Technologies, LTD purchased majority control of JPEX. JPEX Global, Inc will also undergo a name change to VeeMost Technologies, Inc.
This merger is particularly exciting for shareholders because VeeMost has plans to get in the mix of the rapidly expanding cloud services market by launching its own innovative cloud services and solutions in the last quarter of 2022.
VeeMost is also working on a cloud security product – VeeShield Cloud Security – which is expected to launch in the next 60 days. VeeShield Cloud Security is a bundle of security products delivered from the Cloud to protect users from: malicious content, malware, and categorized url-filtering. The company stated that “in the past 6 months VeeMost has been the subject of numerous buyout inquires” but it remains committed to growing the company through multiple acquisitions.
With this in mind, the company’s management confirmed that there will not be any dilution or reverse splits which is good news for shareholders as JPEX works to uplist to the OTCQB.
Media Sentiment
Some investors like @otc_chairman seem bullish on JPEX’s chances of a buyout after its merger with VeeMost making its a hot penny stock to watch.
Technical Analysis
JPEX has been witnessing a general upward trend for the past few weeks and is currently trading at $.0378 with a resistance at .0416. It has a primary support at.0359, with a stronger one at .033. The stock has also been witnessing an upward trend in accumulation and the MACD appears poised for a bullish crossover. The RSI is also spiking and is currently at 53.18.
Should you Buy?
Trading at $0.0334, this hot penny stock is currently at a decent entry point for investors. JPEX presented a good short term play as volume flows back into the OTC market following impressive gains from SHIB and other small cap plays. Now with the merger news, JPEX could also present a good long-term hold as it works towards a “digital business transformation to provide secure cloud ready data/application solutions”. With the VeeMost merger being announced and upcoming catalysts are being worked on, the stock is poised to easily break its resistance at $0.0416.
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