Which 5 NZX stocks have maximum price movement?

Highlights 

• Stock prices change every day due to market forces.
• Move Logistics was the top gainer for the day and was followed by Greenfern Industries.
• Pushpay Holdings’ shares dwindled the most for the day.

Stock prices fluctuate every day due to supply and demand. If there is a higher demand for a stock than supply, the price of that stock goes up and vice versa in cases where demand is lower than the supply of the stock.

The NZX is always buzzing with news and updates of the companies listed on it. Investors assess the stock market, political and economy-related news that can affect the share price of a stock before investing in that stock.

Let’s have a look at 5 NZX stocks that registered the highest gains and losses in their prices on Wednesday.

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Move Logistics Group Limited (NZX:MOV)

Logistics, freight and warehousing services provider MOV is looking to raise $40 million through a 1 for 3.06 renounceable entitlements offer, which is a part of its capital raising plan and will close on 12 November.

RELATED READ: MOVE (NZX:MOV): What is the update on Institutional Entitlement Offer?

Move will conduct its AGM online on 23 November due to ongoing uncertainty related to COVID-19 alert levels and restrictions.

MOV was the top gainer for the day and ended the day 6.25% in green to close at $1.7.

Greenfern Industries Limited (NZX:GFI)

Therapeutic and wellness products manufacturer Greenfern notified on 9 November that it had started the distribution of GMP medications in Australia and has signed a distribution contract with Cannvalate Pty Ltd.

GFI will look at NZ also to offer GMP medications. GFI was the second top gainer, reporting a 5.45% rise in its share price to close at $0.29.

Wellington Drive Technologies Limited (NZX:WDT)

Leading the IT sector in IoT solutions and devices, Wellington Drive Technologies   reported a strong performance for the third quarter of 2021, achieving an EBITDA surplus of $2.65 million and a pre-tax net profit of $0.66 million.

The Company has maintained US$ invoicing in the range of US$45 million to US$50 million and EBITDA earnings to be in the range of $3.5 million to $4.5 million for 2021.

WDT shares gained 4.4% in Wednesday’s trading session to close at $0.166. 

Pushpay Holdings Limited (NZX:PPH; ASX:PPH)    

Donor management system operator for charities, Pushpay Holdings, reported a US$7.9-million increase in operating revenue, net profit, EBITDA and processing volumes in its financial results for the 6 months ended 30 September 2021.

RELATED READ: Pushpay (NZX:PHP): How did it perform in 2022 interim results?                  

Pushpay expects an EBITDAFI for the year ending 31 March 2022 to be between US$60 million and US$65 million.

PPH was the top decliner for the day, reporting a decline of 12.97% to close at $1.61.

Harmoney Corp Limited (NZX:HMY) 

Online direct and personal lender Harmoney announced the pricing of AU$105 million asset-backed securitisation (ABS) in October, backed by a group of consumer personal loans in Australia. The inaugural securitisation has permitted the firm to test its lending model and systems to enter the ABS market.

RELATED READ: Harmoney (NZX:HMY) announces pricing of an inaugural ABS transaction

HMY expects an NZ securitisation in early 2022 and is likely to be a substantially larger ABS transaction given the size of the NZ loan book.

HMY shares dwindled 3.63% to $1.86 at the end of the trading session on Wednesday.

Bottom Line

Investors are always in search of the stocks doing well and those not doing so well to help them make an informed investment decision.

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)