Will These Cheap Penny Stocks Make Your List This Month?
The changing state of the world has resulted in many reopening penny stocks jumping in value. Global economies are starting to open up more as COVID-19 cases decrease. Part of the reason that cases are dropping is a result of vaccine distribution. As of April 6th, ¼ of America has received the coronavirus vaccination. This accounts for 32.4% of the population or 107.5 million Americans with at least the first of two vaccinations.
Even with this news, people like Dr. Fauci believe that masks could be recommended as far out as 2022. There is still a lot the world does not know about this virus, like mutations and variants. This places many stocks in a state of volatility, as weâve seen for the last year. The difference now is reopening has begun to escalate.
(Photo illustration by The Real Deal)
With its hotels business battered by the pandemic, Ashford Hospitality Trust took a cold, hard look at its portfolio and came to a sobering conclusion: The REIT was simply going to walk away from some of its struggling properties.
“While we take no joy in handing back assets to our lenders, we do hope it demonstrates that we are willing to make hard decisions that are in the best interest of our shareholders,” Ashford CEO Rob Hays said on the company’s late-October earnings call.
Dallas-based Ashford, which was facing the threat of insolvency before it landed a $350 million lifeline right before the new year, gave up a portfolio of 13 hotels with more than 2,000 rooms as it struggled to stem losses and work out forbearance agreements to avoid defaults.
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