- TruScreen Group remained poised throughout the coronavirus pandemic and its TruScreen device gained efficacy.
- Rua Bioscience concluded the Medbloom agreement and ponders over new opportunities.
- Blis Technologies gets sanction in India for the use of its probiotic strains.
- Promisia Healthcare provided an update to its investors about the allotment of new equity.
Penny stocks trades at low prices, less than a $1 and have low market capitalisation.
With such low prices, investors and traders are skeptical of them.
These penny stocks usually show momentum when a turnaround tale regarding these stocks makes waves on an exchange. As a result of the supposition, stock prices tend to rise in case of positive news. On the other hand, the prices turn south on experiencing any negative news.
Therefore, regarded as a hit-or-miss investment, investors and traders need to be very careful while taking a decision on investing in these penny stocks. Also, as penny stocks require small investments, people can buy many shares in which they are interested.
With proper research, chances are there that the penny stocks help in raking up profits by giving decent returns. They sometimes surpass the blue-chip and mid-cap stocks. Hence, one should include them in their portfolio for diversifying the risk.
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Now, let us explore the 5 NZX-listed penny stocks from the healthcare sector that are worth investing in the month of May.
TruScreen Group Limited
Distribution channels of TruScreen Group Limited (NZX:TRU) have remained resilient and are constantly working with the NZ healthcare workers, despite the challenging year due to the coronavirus pandemic.
The Company has appointed a new interim CEO, Juliet Hull, along with Dr. Dexter Cheung as a Non-Executive Director.
Moreover, a recent research in China pointed out the usefulness of the TruScreen device in cervical cancer screening amid the overwhelmed hospital facilities due to COVID-19. Moreover, Saudi Arabia's largest private healthcare provider, SHMG, has started the clinical evaluation of the TruScreen device.
In another milestone, the Company has submitted the product registration in four new markets in Central and Eastern Europe with commercial activities expected to start within 2021.
At the time of writing on 13 May, TruScreen Group was trading down by 1.11% at NZ$0.089.
Rua Bioscience Limited
Rua Bioscience Limited (NZX:RUA) has concluded a commercial agreement with Medbloom Limited, which was signed in October 2020 for providing raw biomass.
However, this termination of the contract would not delay RUA’s export commitments as it is in advanced talks with other cultivator partners and is hopeful of a positive outcome.
At the time of writing on 13 May, Rua Bioscience was trading flat at NZ$0.400.
Cannasouth Limited (NZX:CBD) in its latest newsletter, revealed that the Company was in the process of installing equipment and commissioning its controlled environment agriculture (CEA) sealed greenhouses at the premises.
With a distinctive design and using solar energy, these greenhouses would facilitate a high-quality growing environment for its medicinal cannabis, thereby lowering its costs and energy consumption.
At the time of writing on May 13, Cannasouth was trading flat at NZ$0.400.
Blis Technologies Limited
Blis Technologies Limited (NZX:BLT) apprised its stakeholders that the Food Safety and Standards Authority of India (FSSAI) had granted approval of its probiotic strains to be used in health supplements in India.
Though BLT faced delays due to the COVID-19 pandemic for getting the sanction, the Company is looking ahead for the commercialisation of its ingredients along with its agent, RNA Nutrition, in the sub-continent.
At the time of writing on May 13, Blis Technologies was trading down by 1.52% at NZ$0.065.
Promisia Healthcare Limited
Promisia Healthcare Limited (NZX:PHL) has informed its shareholders regarding its share purchase plan (SPP). The Company raised NZ$1.7 million through SPP, proceeds of which would be used for meeting the working capital requirements. Further, the amount raised would also be utilised for future growth and acquisitions.
Moreover, PHL issued new shares amounting to $450,000 to the wholesale investors. It will allot the remaining capitalisation shares to the Brankin Family Interest Trust.
At the time of writing on May 13, Promisia Healthcare was trading flat at NZ$0.001.