- Penny stocks trade at a low price.
- They can be volatile in nature but some of these stocks can have high growth potential.
- Me Today, PaySauce, Burger Fuel, Marlborough and Kiwi Property ended in green on Tuesday.
Penny stocks are the stocks that are low priced and trade usually under $1. These stocks can be explored by investors who have the high-risk taking ability as these stocks can be highly volatile.
Here is a look at 5 NZX penny stocks that ended in green on Tuesday.
Image source: © 2021 Kalkine Media New Zealand Ltd, Data source- Refinitiv
Me Today Limited (NZX:MEE)
Me Today, health and wellness operator, announced the completion of acquisition and termination of 34,414 shares of less than 1,000 parcel size shareholdings from 1,302 stockholders. This would lower the number of registered stockholders to 840 holders.
On 21 September, MEE ended the trading session at $0.083, up 1.22% from its previous close.
Marlborough Wine Estates Group Limited (NZX:MWE)
Marlborough Wine reported robust growth by employing the branded wine growth approach in NZ and via expanded distribution in the international market.
The Group reported a 5% growth in revenue to $6.7 million in FY21, propelled by 41% growth in branded wine sales. MWE has a robust financial structure and plans to develop its distribution network in the year ahead.
On 21 September, MWE ended the trading session at $0.245, up 2.08% from its previous close.
PaySauce Limited (NZX:PYS)
Paysauce, a SaaS fintech platforms provider, plans to conduct its ASM virtually on 24 September. The Group announced that PYS Chairman Nick Lewis will retire from the Board on 1 October.
Existing director Michael O’Donnell will be elected as interim Chairman of the Group w.e.f. 2 October.
On 21 September, PYS ended the trading session at $0.310, up 3.33% from its previous close.
Burger Fuel Limited (NZX:BFG)
Burger Fuel, a food-based stock, reported a 4.1% drop on FY20 in its operating revenue to $21 million in FY21 due to COVID-19 restrictions. However, the revenue loss and other operating costs were counterbalanced by the government wage subsidy and rent relief given by landlords.
The Board is uncertain about its profitability amid present alert level 4 restrictions in Australia and NZ.
On 21 September, BFG ended the trading session at $0.39, up 2.63% from its previous close.
Kiwi Property Group Limited (NZX:KPG)
Kiwi Property, a real estate portfolio manager, announced on Tuesday that it would be going forward with the building of its first major build-to-rent development. This kind of accommodation is owned and run by institutional landlords, particularly for long-term rental.
The 295-apartment complex will be situated in Auckland’s Sylvia Park and nearly 1,200 apartments are likely to be built across this site in the medium term.
On 21 September, KPG ended the trading session at $1.19, up 1.71% from its previous close.
Investors can add penny stocks to their portfolios if they have high-risk tolerance levels and want to achieve high returns in a short time span.
(NOTE: Currency is reported in NZ Dollar unless stated otherwise)