The Penny Picks || Why Are Penny Stocks Gaining Traction Amid Market Volatility?

The show details the buzzing penny stocks of the day, analyzes why they are doing so and places them in the context of the overall market scenario in Australia. Watch The Penny Picks on Kalkine TV and stay updated.

• Let’s begin with the first penny stock on the radar – AnteoTech. The shares of the medical diagnostic tools developer Anteotech surged following the Company’s announcement on signing the UK distribution agreement.

• The shares of SRJ Technologies rallied by over 7 per cent during intraday trading on winning consulting contract with SBM Offshore.

• Moving on to the next stock grabbing attention in the penny space – gold explorer MT Monger Resources.

• The shares of Mt Monger climbed by about 6 per cent during early morning trading following an update on East Laverton Project.

• Now, move on to another interesting player in the penny segment – mineral explorer Tombola Gold.

• The stock of Tombola jumped as much as 20 per cent during intraday trading following the grant of Golden Mile Mining Lease.

• Another penny stock worth paying attention to is battery manufacturer RedFlow Ltd. The shares of RedFlow rallied by over 5 per cent intraday on a capital raising update.

• Moving on to the next interesting stock in the penny space - Health and Plant Protein Group. The shares of the Company climbed as much as 10 per cent intraday on an update on its Kapua Orchards strategic review.

• The stock of WestStar jumped as much as 17 per cent intraday following a significant update related to its subsidiary SIMPEC.

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