Why Are These 6 Hot Penny Stocks Making Waves On NZX?

Summary

  • These penny stocks are on fire today!
  • Have a look at what these Companies have recently announced!
  • What’s the market performance of these stocks today?

Penny stocks or the stocks trading below a dollar are the perfect way to start investing. Though they have a certain degree of risk involved, they usually help the investor reap quicker benefits. Have a look at some such Penny stocks which you might want to consider today.

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Asset Plus Limited (NZX:APL)

This Company’s key area of function is investment in the real estate industry of New Zealand. It has recently announced the results from its portfolio valuation, which was recorded to be NZ$172.3M on 31 March 2021, while the revaluation gain for the year was NZ$8.9M.

On May 19, Asset Plus Limited traded at NZ$0.315, up by 1.61%, at the time of writing.

Burger Fuel Group Limited (NZX:BFG)

This Company owns several fast-food brand chains in the country. ShakeOut, Winner Winner, and Burger Fuel are some of the top brands owned by the company. It specialises in burgers and fries, along with a host of other fast foods. It even has outlets in the Middle East and the US.

On May 19, Burger Fuel Group Limited traded at NZ$0.385, up by 1.32%, at the time of writing.

Also read: 5 Most Discussed NZX Penny Stocks To Explore In May- SKT, CAV, APL, MPG, ARB

Cavalier Corporation Limited  (NZX:CAV)

This is a Company that deals in the manufacture and distribution of carpets along with other flooring options. According to its preliminary Half-year result, its NPAT was N$4.3M and the net gain on the sale was NZ$2.5M. The revenue was NZ$60.3M after the supply chain had been disrupted due to COVID-19-related restrictions.

On May 19, Cavalier Group traded at NZ$0.425, up by 1.19%, at the time of writing.

Also read: Is Kiwi Food Industry All Set To Witness A Turnaround This Year? A Look At 4 Related Stocks

Geo Limited (NZX:GEO)

SaaS-run operations of the business primarily focus on two products, Geo Services, and Geo for Sales. Mr. Roger Sharp, the shareholder and current Non-executive chair, has expressed his intention of stepping down from the position, latest by the November 2021 annual meeting. Tim Molley, the CEO, was appreciative of his contribution to the growth of the Company and wished him the best of luck.

On May 19, Geo Limited traded at NZ$0.115, up by 4.55%, at the time of writing.

IkeGPS Group Limited (NZX:IKE)

This company manufactures and markets integrated GPS solutions. It has recently announced that its agreement with the Fortune US electricity Company has now been extended. This shall in turn help it to generate an additional transaction revenue of N$1.2M. It is of the view that the strength of the extended contract is going to aid it in a better business.

On May 19, IkeGPS traded at NZ$0.980, up by 1.03%, at the time of writing.

MHM Automation Limited (NZX:MHM)

It offers logistics and food processing-related automated systems. It offered a trading update recently, which spoke about many new orders the Company has secured for the upcoming year. It is confident that these new projects are going to help it earn good income. The delivery of the same shall go on till November 2022.

On May 19, MHM Automation traded at NZ$0.620, up by 1.64%, at the time of writing.

Also read: 5 Most Discussed NZX Penny Stocks To Explore In May- SKT, CAV, APL, MPG, ARB

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