In the past couple of months, several companies across the globe have been adversely impacted by the detrimental effect of COVID-19. The rising cases in Australia and internationally have led the governments to urge people to stay back at home and perform the tasks from home.
According to the latest statistics released from Australia Government Department of Health, the number of infected coronavirus patients in Australia was 2,423 on 25 March 2020 (at 3:00 PM AEDT). The total number of deaths stood at eight, and there were 287 new cases in the 24 hours.
Australia, at present, is dealing with a grave situation. Undeniably, COVID-19 is a serious health problem, but at the same time, it has become a significant economic problem which has substantial consequences for the financial system on a global level.
While a number of companies have been impacted due to the COVID-19 outbreak, there are some stocks which have performed well even in such testing times. Let’s look at some of these stocks.
PointsBet Holdings Limited (ASX:PBH)
PointsBet Holdings Limited has announced that its wholly-owned subsidiary PointsBet Colorado, LLC has been granted an Internet Sports Betting Operator License & a Sports Betting Operator License by the Colorado Limited Gaming Control Commission. The initial term of the license is applicable until March 2022.
Double Eagle Hotel and Casino, the partner of PointsBet Colorado, LLC in the State of Colorado was issued a Master Sports Betting License the Colorado Limited Gaming Control Commission in February 2020.
Now, PointsBet Colorado, LLC would be operating online as well as retail sportsbooks in Colorado and the Company expects to take its first bet in 2H 2020.
The announcement had a positive impact on PBH share which, by the closure of the market, settled at $1.300, up 1.167% from its previous close. The shares are trading near its 52 weeks low price. However, the announcement gave a slight thrust to its share price. The market capitalisation as on 25 March 2020 is 196.39 million, and the Company has 152.84 million outstanding shares.
HeraMED Limited (ASX:HMD)
HeraMED Limited, a medical technology company, reported a significant boost in its share price on 25 March 2020. The stock ended the day’s trade at $0.135, a whopping increase of 92.857% compared to its previous close.
On 24 March 2020, the Company received significant uplift in interest and demand for its HeraBEAT and HeraCARE, which are its proprietary in-home pregnancy monitoring products.
During this challenging phase of COVID-19 and a rolling global tragedy has provided HMD with considerable opportunities to fast-track the rollout of its proprietary in-home pregnancy monitoring products. In this current scenario of coronavirus outbreak, the mission of the Company is to offer expecting mothers with a precise, reliable & user-friendly in-home pregnancy management solution to reduce concerns and ensure that they are cared for properly.
The team at HMD is working around to help expecting mothers prevent the spread of infection and at the same provide value during such uncertain times.
The Company has reported a significant increase in the demand for tele-health solutions which is followed by the government requesting for self-isolation as well as hospitals operating under intense pressure. Thus, accelerating commercialisation.
Also, the Company has received multiple requests from the health care providers concerning the rapid deployment as well as the application of its HeraBEAT and HeraCARE platform.
At present, the Company is focused on providing targeted assurance to the leading healthcare providers in the US, UK, Germany and Australia.
Lifespot Health Limited (ASX:LSH)
The share of Lifespot Health Limited skyrocketed on ASX after the Company released an announcement that its BodyTelTM platform is being broadened to Bluetooth enabled thermometers to assist self as well as organisational monitoring. The stock closed the day’s trade at $0.049, a substantial increase of 122.727% compared to the previous close.
Looking at the market request for fully integrated temperature self-tracking and monitoring system, the Company has used Australian as well as International resources to build and complete the BodyTelTM APP and platform extension. The extension will include temperature monitoring through the Bodytel platform along with a branded Bluetooth thermometer.
The recent guidelines provided by the Australian government recommend ongoing self-monitoring of symptoms like fever, sore throat, coughing, fatigue & shortness of breath. In the present scenario, there is a significant unmet need for fever tracking on a global scale as a result of COVID-19 pandemic. In this situation, self-monitoring and community tracking have a significant contribution to lessen the impact of coronavirus.
At present, the Company is negotiating with the pharmacy channel distributor in Australia for initial market launch.
NOVONIX Limited (ASX:NVX)
NOVONIX Limited is an integrated designer and supplier of high-performance materials, equipment & services for the global lithium-ion battery industry. The stock of NOVONIX Limited closed the day’s trade at $0.295, an increase of 18% compared to its previous close.
On 23 March 2020, the Company had provided COVID-19 Corporate Update concerning the various government actions being executed in the region where the Company functions. The Company has implemented the COVID-19 Protocol across its functions which is applicable for all its staff, corporate and operational across all the operating regions.
As of now, the Company has been able to sustain all underlying operating activities as well as operate at NOVONIX BTS in Halifax Nova Scotia & PUREgraphite in Chattanooga, Tennessee. Also, the Company has not faced any significant interruptions in commissioning PUREgraphite anode material production plant. The team has also completed the construction and is in the final stage of commissioning its first commercial production system.
NVX anticipates producing the finished product from this system at the end of March 2020 depending on unexpected COVID-19 related events which might impact the plan.
9 Spokes International Limited (ASX:9SP)
9 Spokes International Limited is a leading technology marketplace and insights player to small business. The Company’s vision is to utilise the power of the cloud for small firms. 9 Spokes has witnessed a growth in its share price by 20% and settled at $0.012 by the closure of the market. The daily trading volume stood at 4,831,668.
Cloud computing is an emerging technology and is likely to drive the technology sector in the coming decade.
The shares of the SaaS provider have been trading closer to its 52-week low price of $.008, which was noted on 23 March 2020. Given the fact that the Company utilises in-demand technology to provide its solutions and the low prices its stock is trading at, it appears that investors might have shown interest in investing 9SP stocks at a lower price. This could be the reason behind the stock closing the day’s trade 20% higher than the previous day.
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There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.
