5 NZX penny stocks that can be followed in 2022

Highlights

• With careful fundamental analysis, penny stock investments can prove to be beneficial.
• General Capital’s subsidiary, General Finance, reports a record Q2.
• Geneva Finance announces interim dividend to be distributed towards this month-end

Often, small-time and newer investors are attracted to penny stocks as they believe there is less downside, while they carry the potential to offer above-average returns.

Being low priced as compared to mid-cap and large-cap stocks, these penny stocks tend to dramatically do better when invested with due diligence.

That said, let us explore the five NZ-listed penny stocks worth keeping an eye on in 2022.

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General Capital Limited (NZX:GEN)

General Capital Limited, a financial services company, had recently released an update on General Finance, its subsidiary.

5 NZX penny stocks that can be followed in 2022

Mr. Brent King, General Finance’s MD, opined that the Company had witnessed another remarkable quarter and according to its quarterly report, General Finance’s business continued to grow and reached record levels.

Related Read: What are 5 small-cap NZX stocks examples?

Its NPAT and total assets for Q2 ended 30 September 2021, grew by 46.7% and 11.0%, respectively, on Q1, ended 30 June 2021. 

On 8 November, at the closing bell, General Capital gained by 1.89% at NZ$0.054.

Blis Technologies Limited (NZX:BLT)

Blis Technologies Limited, a biotech company, manufactures advanced oral probiotics. It has announced the appointment of new Marketing and eCommerce Director, Laura Grant, following the resignation of its Chief Marketing Officer.

Do Read: Are these the 5 most active stocks on NZX?

The new leadership aims to offer effective leadership in marketing and eCommerce domains.

Shares of Blis Technologies climbed by 1.69% at NZ$0.060 on 8 November, at the market close.

TruScreen Group Limited (NZX:TRU)

TruScreen Group Limited is a famous manufacturer of cancer screening medical devices. Recently, the Company has provided updates regarding its overseas growth strategy as well as in the field of women’s health care space.

Related Read: One Medical Device Company With Long Trem Growth Potential

TRU has enhanced its cyber security framework with the adoption of Firmware update, which also provides improved user interface and battery management features.

Further, the Company continues to make significant advancements into its largest market, China, and at the same time, is working to broaden its reach throughout Central and Eastern European markets.

Overall, TRU continues to make good progress in its efforts.

At the end of the trading session, TruScreen Group was up by 1.32% at NZ$0.082, on 8 November.

Cannasouth Limited (NZX:CBD)

Cannasouth Limited is a well-known medicinal cannabis company in New Zealand. Today, the Company has disclosed the completion of the commissioning of its Waikato-based, new state-of-the-art greenhouse and processing facility.

In order to ensure a high-tech cultivation facility, the said commissioning comprised a series of testing and substantiations.

Shares of Cannasouth soared by 2.67% at NZ$0.385, at the closing bell, on 8 November.

Geneva Finance Limited (NZX:GFL)

Operating in the financial space, Geneva Finance Limited has lately announced an interim dividend for its shareholders.

It would pay 1.25 cps as a dividend on 30 November, owing to a 21% climb in its half-year pre-tax profit for the period ended September 2021.

At the end of the trading session, Geneva Finance surged by 5.56% at NZ$0.760, on 8 November.

Must Read: Do these 5 NZX financial stocks have healthy YTD returns?

Bottom Line

Though equipped with risks, investing in penny stocks is worthwhile as they have the potential to offer exponential gains.