- Penny stock investment though risky, may tend to become multibaggers and generate profit.
- ArborGen Holdings announced elevated FY21 guidance.
- Blis Technologies secured the grant of using its probiotic strains in India.
- Vital extended its partnership with Logic Wireless.
Trading in penny stocks is entirely different from trading in average stocks. These stocks are low priced, trading at less-than-a-dollar price.
Given the high volatility and low liquidity, investing in penny stocks tends to be speculative. Also, these stocks have upper and lower circuits, beyond which the price does not move. Hence, potential investors must make well-informed and wise decisions while investing in these stocks.
At the same time, these low-priced stocks have tremendous growth prospects if they reach their potential.
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This article would take us through the 5 NZX-listed penny stocks worth watching.
ArborGen Holdings Limited
ArborGen Holdings Limited (NZX:ARB) notified on increasing its US GAAP EBITDA between US$11 million to US$11.5 million for FY2021 as compared to the earlier guidance disclosed in January 2021 of US$10million to US$11 million.
The above-mentioned guidance includes the government’s grant for COVID-19 relief amounting to US$3.7 million.
With improved market conditions and a rise in demand for its products across the US and Brazil, the Company anticipates a strong EBITDA and a cash generation for FY2022.
At the time of writing on 12 May, ArborGen Holdings declined by 2.20% at NZ$0.178.
Blis Technologies Limited
Blis Technologies Limited (NZX:BLT) recently stated that its probiotic strains, namely, BLIS M18™ and BLIS K12™ had been granted approval in India by the Food Safety and Standards Authority of India for its use in health supplements.
BLT has partnered with RNA Nutrition for the commercialisation of its products in India.
At the time of writing on May 12, Blis Technologies rose by 1.54% at NZ$0.066.
Just Life Group Limited
Just Life Group Limited (NZX:JLG) had declared a capital raising of about NZ$4.5 million on 23 April 2021.
The management has invited its shareholders to participate in the rights offer, which remain open till 21 May 2021.
At the time of writing on May 12, Just Life Group decreased by 2.25% at NZ$0.870.
Michael Hill International Limited
Michael Hill International Limited (NZX:MHJ) revealed increased all-store sales with a rise of 11.6% for the quarter ended 28 March 2021. Further, its digital sales rose tremendously, up 69% in the said period as compared to FY20Q3.
Moreover, the Company observed a strong cash position with at least NZ$50 million towards the quarter end.
At the time of writing on May 12, Michael Hill International slipped by 1.12% at NZ$0.88.
Vital Limited (NZX:VTL) provided an update on the extension of its agreement with Logic Wireless, NZ’s leading provider of professional land mobile radio and cellular devices.
Both Vital and Logic Wireless would benefit from the extended partnership with enhanced sales and better customer experiences.
At the time of writing on May 12, Vital was trading flat at NZ$0.78.