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Highlights
- Penny stocks trade at a low price and are linked to small companies.
- Chatham Group provided an update on its key milestones achieved in the last 12 months.
- Wellington Drive announced on 2 December that its Chief Customer Officer would be David Burden.
A penny stock is a stock that trades at a low price and has a low market capitalisation. These stocks are associated with small firms and have a lack of liquidity.
Investors can make sizable gains by investing in these stocks. However, there is an equal possibility of losing substantial investment in a short period.
Let’s look at the performance of these 4 penny stocks.
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Blis Technologies Limited (NZX:BLT)
Blis announced this month that its Marketing and eCommerce Director, Laura Grant, had resigned and would return to Europe by the end of FY22. She has made substantial contributions to Blis’ marketing and e-commerce ventures.
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She will stay in the role until at least 31 March 2022.
On 15 December, at the time of writing, BLT was trading at $0.05, up 2.04%.
Geo Limited (NZX:GEO)
Geo completed both of its previously announced private placements, bringing the total amount raised to $7 million.
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The Group further stated that any unspent application funds for the oversubscribed placement would be reimbursed in accordance with the terms of the offer.
On 15 December, at the time of writing, GEO was trading flat at $0.152.
Wellington Drive Technologies Limited (NZX:WDT)
Wellington Drive announced on 2 December that its Chief Customer Officer will be David Burden.
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In his new post, he will be in charge of customer success, commercial, and marketing teams. He had developed a cutting-edge IoT platform that is now an integral element of WDT's IoT ecosystem.
On 15 December, at the time of writing, WDT was trading at $0.179, up 3.47%.
Marlin Global Limited (NZX:MLN)
Marlin’s gross performance return was down by 2.5% for November, while the adjusted NAV return was down by 2%. It lagged the market in November due to weaker financial results from 3 of its companies.
On 15 December, at the time of writing, MLN was trading at $1.48, up 0.68%.
Bottom Line
Penny stocks can prove to be great investments but need careful selection and research.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)