Are These 6 Interesting NZX Penny Stocks The Cream Of The Crop?

Summary

  • Just Life Group has announced the completion of its rights offer.
  • Sky Network Television’s Investors Day to be held on 29 June.
  • Cannasouth appoints a new quality head to strengthen the pace of its GMP certification process.

New Zealand’s benchmark index S&P/NZX50, at the time of writing on 27 May, decreasing by 1.59% to 12,151.110 basis points. Effects of which were seen in penny stocks as well, as they are currently, giving a mixed performance on NZX.

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Here are the latest updates of the 6 NZX-listed penny stocks you can get acquainted with.  

Just Life Group Limited

Just Life Group Limited (NZX:JLG) announced the successful closure of its rights offer (renounceable). The Company is expected to receive gross proceeds of ~NZ$4.1 million through the offer.

About 5.9 million new shares were taken up as per the offer, these shares would be allotted and will start trading on the New Zealand Stock Exchange by 27 May this year.

On 27 May, at the time of writing, Just Life Group was trading flat at NZ$0.900.

Read: Why To Invest In 6 Hot Penny NZX Stocks After Budget 2021 Declaration? - RAK, JLG, CAV, CBD, GSH, MHJ

Marlborough Wine Estates Group Limited

Marlborough Wine Estates Group Limited (NZX:MWE) recently declared the completion of the 2021 harvest. The 2021 yield was lesser, about 26% lower compared to 2020’s vintage harvest.

However, Jeff Clarke, MWE’s chief winemaker, coined the 2021 vintage one of the best one noted in the last 10 years. The reason was a very dry weather from December to March, which has enhanced the quality of all the grape varieties.

On 27 May, at the time of writing, Marlborough Wine Estates Group was unchanged at NZ$0.250.

Sky Network Television Limited

Sky Network Television Limited (NZX:SKT; ASX:SKT) has scheduled its Investor’s Day on 29 June 2021, wherein insights would be given on the Company's future plans, strategic decisions, etc.

Moreover, it had recently renewed its partnership with ESPN, thereby bagging a multi-platform rights contract with the global sports brand.

On 27 May, at the time of writing, Sky Network Television was trading down by 1.14% at NZ$0.173.

Read: Look At 7 Most Traded Stocks On The NZX In The Week

Wellington Drive Technologies Limited

Wellington Drive Technologies Limited (NZX:WDT) would conduct its annual shareholders meeting on 26 May 2021.

Also, it has recently appointed Greg Balla as its Chief Executive Officer, who would take charge from 1 September 2021.

On 27 May, at the time of writing, Wellington Drive Technologies decreased by 1.16%% at NZ$0.085.

Read: 5 Hot NZX Penny Stocks From Technology Sector To Explore In 2021

Cannasouth Limited

Cannasouth Limited (NZX:CBD) recently notified the market about the appointment of Satish Nand as Quality Head of the Company.

Apart from the proficient quality and regulatory professionals working in Cannasouth, the inclusion of the new Head of Quality into the Board is instrumental in the Company’s odyssey towards validation and GMP certification.

On 27 May, at the time of writing, Cannasouth rose by 3.75% at NZ$0.415.

Metro Performance Glass Limited

Metro Performance Glass Limited (NZX:MPG) delivered a remarkable FY21 performance ended 31 March, with a group revenue of NZ$232.3 million and EBIT of NZ$17.9 million.

The Company has successfully reduced its net debt by 28% or NZ$18.9 million to NZ$48.0 million, as of March this year, thereby strengthening its cash position.

The Board is planning to recommence dividends along with MPG FY22 half-year results. The Company continues to follow a prudent approach for cost management with a prime focus on offering excellent customer services.

On 27 May, at the time of writing, Metro Performance Glass was trading up by 1.18% at NZ$0.430.

Read: Why These 5 Growth NZX Stocks Are Catching Your Attention

Penny stocks, though risky and volatile, may also reward their investors by giving multiple time returns. Constant vigilance and thorough research while investing in these penny stocks should be duly followed before making any investment decision.

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