5 Penny Stock Momentum List: INQD, GSTC, APTY, SGMD, MMMM
Every day thousands upon thousands of investors log in to their brokerage accounts and look for the next big thing in penny stocks. These stocks can often deliver considerable gains in a short period of time but investors also need to have a degree of risk appetite. Here is a look at the 5 penny stocks which have been notable gainers in recent times.
Indoor Harvest Corp (OTC:INQD) – The company saw its stock go into overdrive in the past week. This past Friday the Indoor Harvest Corp stock went up by 17% and that took the total gains over the week to as much as 40%. There has not been any news about the company in the past week but there is definitive interest in the stock.
On May 23 the company had been in the news after it announced the appointment of Stephen Papageorge as its new Chief Brand Officer. It was a significant new appointment from the company since Papageorge is regarded as a marketing visionary. He had been made responsible for playing a major role in pushing the company’s sustainable hemp and wellness health products forward.
At the time Indoor Harvest Corp stated that Papageorge had an excellent track record in building successful brands in the consumer space. He also had a unique approach to brand building which was a combination of iconoclasm, originality and effectiveness. In addition to his industry knowledge and considerable experience, he was also supposed to bring a fresh new perspective.
GlobeStar Therapeutics Corporation (OTC: GSTC) – Last Friday the company’s stock was one of the major movers in the penny stock space and ended up with gains of as much as 38% amidst significant interest. GlobeStar Therapeutics Corporation is involved in the development of transformative therapies which are meant for managing chronic neurodegenerative conditions.
The company had conducted an initial study for Project Amethyst with 150 volunteers, out of which 90 were in the 25 years to 65 years age group with multiple sclerosis. The group also included 60 healthy volunteers. It was noted that the average Expanded Disability Status Scale (EDSS) score for those suffering from MS dropped by 1.3 points in pre-treatment and by 4.02 points post-treatment.
On June 14, GlobeStar Therapeutics was in focus after it announced it had signed a memorandum of understanding collaboration agreement with Advanced Innovative Partners for designing and implementing the clinical trials for Project Amethyst. The company holds the global licence for Project Amethyst and that includes all the patents as well as the patent applications related to the project. James C Katzaroff, the President and Chief Executive Officer of GlobeStar Therapeutics noted that everyone at the company was delighted with the collaboration with AIP.
APT Systems Inc (OTC:APTY) – The company is involved in the software development and financial technology spaces. Last Friday APT Systems Inc was in prime focus among investors and its stock rocketed up by as much as 19%.
While there has not been any news about the company in recent days, the company made a major announcement on January 6. At the time, APT Systems announced that it had appointed the development team members from RocketUS LLC for the purpose of leading the efforts to deliver Verifundr, its escrow service.
Additionally, the company also announced that the project would also involve the integration of Spera, a true stablecoin. It would work as the main medium for moving funds from escrow wallets to traditional cash bank accounts and vice versa. The company noted at the time that it had contemplated the next stage of growth at the company and concluded that making key additions to its development team was the natural step forward. One of the major appointments was that of YegorKudinov, a senior engineer with two decades of experience in a range of security and blockchain roles.
Sugarmade Inc (OTC: SGMD) – The product and branding marketing company is involved in making investments in a range of technologies and operations which present disruptive potential. Some of the major brands in its portfolio include Lemon Glow, SugarRush, CarryOutSupplies.com and J Grade Farm among others. The Sugarmade Inc stock was in the middle of a strong rally this past Friday and clocked gains of as much as 50%. It will be interesting to see if the stock can manage to hold on to its potential this week.
On March 2, 2023, the company announced that Darren Kenney had been appointed as an independent director and as a member of the audit committee. Sugarmade noted at the time that Kenney’s considerable expertise in financial integrity and accuracy was a major factor in appointing him at a time when the company was going to launch into an aggressive growth initiative. Jimmy Chan, the Chief Executive Officer of the company, noted that it was another major step for the company towards meeting the requirements for advancing on to a listing on the OTCQB exchange. Kenney would also help the company in boosting its accounting and reporting abilities so that Sugarmade could look for new acquisitions and work on an uplisting to the NASDAQ in the future.
Quad M Solutions Inc (OTC: MMMM) – Last Friday its stock emerged as one of the major movers as it ended up with gains of as much as 30% amidst heavy action. There was no news about the company last week but on March 31, 2023, it had made a major announcement. Quad M Solutions Inc announced on that day that it had launched StayputInsurance Inc, its new subsidiary. The subsidiary would be involved in providing innovative insurance products aimed at those who work in the GIG economy. It would also be helping businesses and corporations all over the world who are suffering from a chronic shortage of labor.
The company held a 51% stake in the new subsidiary and the products had been designed for the specific purpose of addressing the labor shortage issues by encouraging senior workers to delay their retirements.
