- Sky Network Television to redefine its leadership structure.
- Cavalier Corporation announces stepping down of its CEO, who was behind the restructuring of its carpet business.
- Asset Plus provides an update on its portfolio valuation.
Penny stocks generally trade at less than a dollar. These stocks attract traders because of the temptation it offers on providing exponential growth as well as a chance to double, triple, or even quintuple the amount invested.
The investors who are inclined to invest money in these multi-bagger penny stocks include experienced traders, corporate insiders, short sellers, hedge funds, speculators, and market makers.
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While the country awaits its Budget 2021 to be declared on Thursday, let us cast a glance at these 5 most discussed penny stocks trading at less than 50 cents in May 2021.
Sky Network Television Limited
Sky Network Television Limited (NZX:SKT;ASX:SKT) declared an alteration in its senior management framework. The modification would comprise a relatively smaller Executive board and broader structure for SKT's key leaders, who would be reporting to the Executive and will focus on delivering goals and the best customer experiences.
The Company would release a detailed report on the new structure and strategy on its Investors Day, which will be held on 2 June 2021.
On 19 May, at the time of writing, Sky Network Television was trading flat at NZ$0.174.
Cavalier Corporation Limited
Cavalier Corporation Limited (NZX:CAV) announced the resignation of its revered CEO, Paul Alston, who has been serving the organisation for 9 years.
He supervised the Company’s turnaround as well as the streamlining of its famous carpet business. He was also responsible for making CAV more sustainable and business oriented.
Alston will continue to work till a suitable replacement has been found.
On 19 May, at the time of writing, Cavalier Corporation was trading up by 1.19% at NZ$0.425.
Asset Plus Limited
Established in 2010, Asset Plus Limited (NZX:APL) deals in property-related investments. As per its latest update on portfolio valuation by March-end 2021, the Company's NTA was consistent at 44.7 cps along with NZ$172.3 million as its portfolio valuation.
On 19 May, at the time of writing, Asset Plus increased by 1.16% at NZ$0.315.
Metro Performance Glass Limited
Metro Performance Glass Limited (NZX:MPG) has issued trading guidance for the expected FY21 results, wherein it is hopeful of achieving the group EBIT between NZ$16.5 million and NZ$18.0 million.
This could be attributed to the resilience of its business operations amid the pandemic with strong residential activity in New Zealand and Australia, clubbed with the government aid.
MPG will declare its FY21 annual results on 21 May 2021.
On 19 May, at the time of writing, Metro Performance Glass was trading flat at NZ$0.410.
ArborGen Holdings Limited
ArborGen Holdings Limited (NZX:ARB) recently revealed an enhancement in its FY2021 guidance with EBITDA to range between US$11 million-US$11.5 million instead of the previous one provided in January 2021.
With an improved market environment and increased demand across the US and Brazilian markets, ARB looks forward to a favourable FY2022.
On 19 May, at the time of writing, ArborGen Holdings was trading at NZ$0.180, moving up by 0.56%.