6 Stocks That Ebbed And Flowed On The NZX Today

Summary

  • The decliners outweighed the gainers on Thursday’s trade.
  • It was a mixed bag with many sectoral gainers.
  • Several low-priced stocks gained during the trade on Thursday.

The NZX 50 started the day in red at 12.777, down 0.55%. The stock markets have been volatile throughout the world due to a series of numbers announced recently by the Fed and the other Central Banks. New Zealand market was also volatile during today’s trading session with more losers than gainers emerging by the end of the day. It was a mixed bag as far as the sectoral trend is concerned and losers outweighed gainers.  

Let’s have a look at some of the top gainers and losers in today’s trade.

Rua Bioscience (NZX:RUA)

The stock gained almost 9.30% at 0.465 on Thursday. RUA is a medicinal cannabis company and mostly undergoing some or the other regulatory constraint. Of late, the Company announced that due to hold-ups overseas, its GMP certification had been delayed. The announcement at the Beginning of May said that the delay would impact RUA’s long-term goal of dispatching its export consignments, especially those to Germany. Even then the investors are seeing potential in the penny stock.

Marlborough Wines (NZX: MWE)

MWE sells some of the top wines in New Zealand, and some of its wines have been named as the best wines in the world. On Thursday, MWE stock gained almost 8%, to be at NZ$ 0.275, at the time of writing. This is despite the harvest update provided by the Company recently, which said that the vintage was lighter in yield and therefore, the harvest was down by 26%. The lower yield is also likely to impact the bulk wines available for customers this financial year.
However, the Company clarified that the quality of vintage had been excellent. This would enable MWE to produce quality wine.
Also Read: How these 5 NZX stocks are moving today - GEO, FPH, PYS, MWE, AMP

NZME Limited (NZX:NZM)

NZM is a media group. Recently, the media group agreed to the penalty imposed in relation to the NZ market censures imposed by NZ markets Disciplinary Tribunal. NZM in its Annual Meeting of the Shareholders had declared that it took its responsibilities around the disclosures very seriously. In the two censures, NZM was very compliant and acted immediately. The stock was trading up 5.41% at NZ$ 0.780.

Also Read: Why NZME stock is keeping the market abuzz?

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GEO Limited (NZX:GEO)

Geo was down by 4.65 % at NZ$0.124. Recently, the Company had announced the board succession plan. Its non-executive chair and major shareholder had announced his decision to retire before the Company’s AGM. Although, he intends to seek a re-election in the AGM as a Director of the Company.
Also Read: How Are These 5 NZX Stocks Performing Today- BLT, SVR, ENS, TRU, GEO

TruScreen Limited (NZX:TRU)
The stock lost 4.44% in today’s trade. Its price was 0.086. It announced its update to the shareholders on Thursday. It said that the key activities in the first quarter of CY2021 were Dual-listing on the ASX with a capital raise of NZ$2M, appointment of Juliet Hull as the CEO, increased sales volumes, and China market showing strong recovery.

SMW Group Limited (NZX:SMW)

The Company announced the acquisition of Sarina Crane. It entered into an agreement at a purchase price of up to AU$35.8M. This acquisition will result in the diversification of service offerings and revenue streams. The stock was down 4% at NZ$1.440.

Read Only: 6 NZX Stocks That Shined Or Faded In The Market Today - JLG, VGL, PYS, PHL, GFL, SMW


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