Three ASX penny stocks making splash today

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Three ASX penny stocks making splash today

 Three ASX penny stocks making splash today
Image source: Vitalii Vodolazskyi, Shutterstock.com

Highlights

  • The ASX Small Ordinaries index (ASX:XSO) was down 0.5% to the lowest level of the day, at 3,436.5.
  • NAE, RGL and VOR are some of the ASX penny stocks shining today.
  • Investors must be cautious while investing in penny stocks due to their high volatile nature.

Australian markets have been on a backfoot in Tuesday’s session as the total number of COVID-19 cases hit the one-million mark. The benchmark ASX 200 was trading 0.73% or 54.3 points down to 7,392.8, as of 12:50 PM AEDT, 11 January 2021.

ASX penny stocks

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The same story continues with small caps, as the ASX Small Ordinaries index (ASX:XSO) was down 0.5% to the lowest level of the day, at 3,436.5. Despite a not-so-good session for investors, some penny stocks have managed to rake in stellar gains. Let us have a look at three such stocks.

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  1. New Age Exploration Limited (ASX:NAE)

The first stock on our list, New Age Exploration, is an ASX-listed diversified metals and mining company, primarily focused on gold projects, the company has a market capitalisation of AU$18.6 million.

In FY21, the company extended its losses to AU$5.52 million, compared to a net loss of AU$4.87 in FY20. The NAE share price has been on a tear since Monday and has gained 60% this week so far, including today’s 23.08% rally to AU$0.016, as of 12:50 PM AEDT, 11 January 2022.

  1. Riversgold Limited (ASX:RGL)

Riversgold also operates in the metals and mining space and currently working on Western Australia’s Archean goldfields region. The company Tuesday announced that its nickel-gold prospective had been granted tenement which covered an area of 109km2. This has triggered a buying spree amongst investors leading to a price surge of 16.67% to AU$0.021 in Tuesday’s session, as at 12:50 PM AEDT.

Also, the volume of 9.55 million shares clocked so far is significantly higher than the 20-day daily average volume of 820K shares.

  1. Vortiv Limited (ASX:VOR)

The last name on our list, Vortiv, is a tech-focused company catering to the financial services sector. The company invests and collaborate with businesses providing analytics, payments services, etc. The company has a market capitalisation of a mere AU$3.65 million.

The company Tuesday announced that its TSI India business continued to perform strongly and was expected to surpass its FY22 EBITDA guidance of INR506 million – INR560 million. TSI has also been shortlisted for several new ATM contracts in India. As a result, VOR shares rallied 15.38% to AU$0.03 in Tuesday’s session.

Bottom Line

Investing or trading in penny stocks is a risky venture. This entire space is capable of delivering quick profits as well as severe losses. Therefore, investors must do their own due diligence before diving deep into penny stock investing.

Read More: Three penny stocks that started 2022 with a bang

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