The demand for investment opportunities in digital assets is increasing rapidly and some of the best penny stocks to buy right now are racing to venture into this evolving space. Zuki Inc. (OTC: LUSI), originally known as MMA Global Inc., is one of the newest companies expanding into this niche. With the anticipated launch of its app – Zuki – LUSI is venturing into mobile applications, software, and blockchain enabled “live events”. After announcing its intentions in July, LUSI’s stock gapped up from $0.02 to $0.23 over only 11 days. This 950% increase indicates LUSI’s potential for a great short-term play.
With an incredibly low float of only 6.47 million, the stock is very volatile and will run given the chance, making it one of the best penny stocks to buy right now. Currently, it is trading at only $.1372, and eager investors may find a suitable entry point here before the company becomes current with the OTC. The company has filed its paperwork and, as of today, Attorney letters for each financial period have been disclosed. Clearly, it is only a matter of time before the company becomes OTC Pink and LUSI has proudly shared the news saying, “Next stop … OTC Pink Current.”
LUSI is undergoing a name change in part because of its new business direction. Its upcoming app – Zuki – is described as a gaming, social media, and blockchain platform. Offering its users mobile and browser-based games as well as live events, LUSI has already applied to trademark its app with the US Patent and Trademark Office. Drawing on the company’s 2018 acquisition of MME Inc., LUSI has a backlog of technology assets for pay-to-play style mobile games.
These games were formerly owned by Shout TV Inc. and include other assets such as Shout, The Challenge, Shout Live, and Flashvote. Tying back into LUSI’s plans for social engagement and live events, these games have already been tested at Real Madrid Football Club and the World Series of Fighting live events to spur fan engagement. It seems likely that LUSI will combine these assets with blockchain technology to “reward creativity and to drive value creation”.
Capitalizing on this promising digital space, the Zuki app will use blockchain to incorporate NFTs in its structure. Given the success of Axie Infinity and Lost Relics – NFT games revolutionizing the future of gaming – the potential uses of NFTs in Zuki’s games are seemingly limitless.
On this note, the company has found new leadership with James Phipps who replaced Darl McBride – infamous for the unsuccessful SCO v. IBM litigation – in June. Phipps has a wide breadth of professional experiences as a strategic advisor, investor, and lawyer. Specialized in entrepreneurship, company turn around management, and asset management, Phipps has experience as a board member for high tech gaming and social media companies as well as sports entertainment companies. He brings expertise related to English football, gaming, fantasy football, and sports talk radio to LUSI’s expansion.
As LUSI draw closer to becoming current with the OTC, more OTC investors are catching on contributing to the stock’s momentum. @LadeBackk – the $WING king – shared the news with his 74.5 K followers.
Currently, the stock is seeing an uptick while trading at $.1372. Its former resistance at .1250 is its most immediate support with a secondary support at .1111. The stock’s resistance appears at .1603 but there is free space for the stock to skyrocket through this resistance given its small float. Accumulation is on the rise and RSI is rising rapidly at 66.05. Meanwhile, the MACD crossed over after market close and has been rising to the upside since with no sign of a second crossover. Followers of the Penny Stocks Today YouTube channel would have heard of this play at the lower price point of $.1180.
Because the app is still in development, Zuki Inc. has no revenue to report. For this reason the company has been operating at a loss of $40.6 thousand in Q2 and $71.8 thousand in Q1, with software development costs of $913,178. Including short and long-term assets, the company has $918,980 in assets with only $5,802 of it in cash. To pay for these costs the company has issued a convertible note valued at $21,933 due at the end of this year. Another issuance valued at $433,077 is due at the end of 2022.
Should you Buy?
Given LUSI’s small float, the stock is likely to skyrocket as it did in July with its 950% increase. This makes LUSI one of the best penny stocks to buy right now for an excellent short term play. However the selloff will likely be more abrupt than July’s and investors would be wise to book their profits on the way up rather than get caught holding the bag on the other side. Trading at $.1372 now, the stock could surpass its 52-week high in the upsurge, potentially hitting $.30 in the rush.
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