In this article, today we will discuss three ASX penny stocks, which we will try to know about where they can reach later. Three ASX Penny Stocks Will Discuss
As we saw today the Australian market opened with a bullish momentum and the reason behind this was the signals coming from the global markets. Some of the world's biggest markets, such as the US and European markets, bounced back from their opening lows and ended the session strong. And this strong end is giving the Australian market a head start. Benchmark ASX 200 is trading
Up 1.29% at 7,187 by mid-market trading session. Small caps are also gaining ground. ASX Small Ordinaries Index is up over 1.1% today with positive market.Afternoon, as investors return to high-risk stocks. If you're curious which ASX penny stocks are getting the most attention in today's session, here's a list.
First Stock
The first stock on our list, Zebit is a California-based eCommerce merchant that offers financing. For financially weak customers.
The company has a market capitalization of just AU$3.78 million and competes with smaller players such as Harris Technology Group. Zebit shares are giving respite to investors today as the stock is up 37.5% from the current market. Price AU$0.055 at lunchtime, after fully recovering from Wednesday's 20% drop. Volume for the day has so far been recorded in only 36K shares.
Second Stock
The second stock on our list is Frontier Energy, formerly known as Superior Lake Resources, an ASX-listed clean energy company. Today, the company's shares were removed from suspension, its shares were suspended on 11 August 2021 due to non-compliance with the listing rules and commenced trading for the first time thereafter.
It also announced a capital raise of AU$8 million to develop it on a large scale. Investors are looking happy after Frontier Energy, a solar power in Western Australia. Shares began trading today, up 30.77 per cent from the previous trading price, to AU$0.17 by noon. Volume for the day also increased to 1.83 million shares, highest since September 2019
Third Stock
The last stock on our list, Rhinomed is a medical device company and a focused player. in wearable nose technology. The company manufactures nasal devices to enhance respiration, nasal drug delivery, improve sleep quality, and more. For the past few years, the company has been increasing its losses - from AU$5.94 million in fiscal year 2019 to AU$7.72 . million in FY 2020 to AU$8.64 million in FY 2011. Today, an increase in volatility was observed with the Rhinomed share price rising to the day's high of AU$0.24.
However, selling pressure from above pulled the price back to AU$0.205, still up 17.14% for the day, as of midday.
Investing in penny stocks is riskier than their large cap peers due to several reasons, such as high volatility, low liquidity, insufficient financial history, etc. Hence, before investing in them, due diligence is always recommended.
0 comments:
Post a Comment