Which ASX penny stocks are buzzing today

Summary

  • Yojee has announced that it had cleared the way to deliver its Platform into 18 countries in the APAC region.
  • RDH’s share price gained 16.8% to AU$0.9 after the company entered into a term sheet with iCollege for its Off-Market Takeover Offer.
  • LMG’s share price rose over 11% in today’s session, currently trading at AU$0.019, with a volume of over 81K shares.

After closing 0.83% down last week, , the ASX 200 continued its downtrend. As of noon, the benchmark index is trading 0.33% down, at 7,284. The market breadth is also skewed towards the negative side, with 7 out of 11 sectors trading in red.

 Image Source: Copyright © 2021 Kalkine Media

The information technology index is spoiling the sentiments the most, falling around 3% today. Despite being a not-so-good session for investors, the penny stock space is going all guns blazing. Let’s have a look at five such penny stocks.

Read More: How do I start trading penny stocks in Australia?

  1. Atomo Diagnostics Limited (ASX:AT1)

Atomo Diagnostics supplies rapid diagnostic test (RDT) devices to the global diagnostic market. Today, the company announced that Access Bio Inc. had received Emergency Use Authorisation (EUA) from the USFDA for point-of-care use of its CareStart™ EZ COVID-19 IgM/IgG test.

The company is in an agreement to supply Access Bio its RDT devices. Following the development, the AT1 share price surged over 40.7% to AU$0.19, clocking a volume of over 14.9 million shares.

  1. Yojee Limited (ASX:YOJ)

Yojee, a cloud-based software as a service (SaaS) logistics platform provider announced that it had cleared the way to deliver its Platform into 18 countries in the APAC region.

The company is expanding through an agreement, which covers major parts of the customer’s operations, including distribution and warehousing logistics along with e-commerce. The stock has shot up by 31.1% to AU$0.175.

  1. RedHill Education Limited (ASX:RDH)

The RDH share price notched up a gain of 16.8% to AU$0.9 as the company announced that it had entered into a term sheet with iCollege Limited (ASX:ICT) in respect of its Off-Market Takeover Offer for RedHill Education shares.

 Image Source: Copyright © 2021 Kalkine Media

The term sheet will facilitate negotiation of a possible Bid Implementation Agreement with RedHill. Subject to the findings of due diligence, iCollege has agreed to an increase in the share exchange ratio from 7.6 to 9.5 iCollege shares for each RedHill share.

  1. Latrobe Magnesium Limited (ASX:LMG)

The LMG share price has risen over 11% in today’s session, currently trading at AU$0.019, with a volume of over 81K shares. Today, the company said it had awarded an Engineering Procurement & Construction Management contract to Mincore Pty Ltd for Latrobe Magnesium’s development of its 3,000 tpa Magnesium Demonstration Plant.

Image Source: Copyright © 2021 Kalkine Media

This plant will produce magnesium metal from a fly ash resource. Mincore has already a value engineering exercise by conducting around 30 individual studies.

  1. Nusantara Resources Limited (ASX:NUS)

Nusantara Resources’ 21.77% stakeholder, Lion Selection Group Limited has announced that it would be entering into a Scheme of Arrangement with PT Indika Energy Tbk for selling all of the issued share capital of Nusantara Resources that it did not already own at an offer price of AU$0.35 per share.

Following the announcement, the NUS share price has increased by 11.48% to AU$0.34, clocking a high volume of over 980K shares.

Read More: The Penny Picks || Are ASX Penny Stocks Worth Evaluating Amid Broad Market Sell-Off?

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK