Nasdaq Stock Gainers Under $1: INPX, SDC, CENN, THTX
Stock listed on NASDAQ are listed after only going through the most stringent checks and stay listed only if the underlying companies adhere to the highest norms of corporate governance. Hence, investors can generally invest with confidence. There are stocks of all categories on the exchange and some may even be trading under a dollar. Here is a look at some of those stocks which had been gained in recent days.
Inpixon (NASDAQ:INPX) – The company, is one of the major players in the real-time location systems space and on July 25 it made a significant new announcement. Inpixon announced that it had gone into a definitive merger agreement with the XTI Aircraft Company. XTI is an aviation company that developed the TriFan 600, a vertical takeoff, and landing (VTOL), fixed-wing aircraft.
An independent financial advisory firm ascertained the enterprise value of XTI and pegged it in the $252 million to $343 million range. The valuation had been determined after comparing the company with other publicly listed companies in the same sector. If the merger is consummated then it would create a publicly listed company that would focus entirely on accelerating the development of the TriFan 600 and then launch it into the market.
Additionally, the new entity would also continue to offer real-time location systems from Inpixon to warehousing and manufacturing clients. The Chief Executive Officer of Inpixon, Nadir Ali spoke about the matter too. He noted that the experience of the XTI team and its disruptive product could help unlock significant value for the Inpixon shareholders.
SmileDirectClub Inc (NASDAQ: SDC) – The new-generation oral care company is best known for having created the first medtech platform for teeth straightening. On July 26 the company announced that it had opened eight new SmartShops in the United Kingdom and Ireland. The company went on to add that it had plans to expand further in the United Kingdom, United States, and Ireland by the end of this year.
Out of those locations, six had been opened as part of an exclusive partnership with the United Kingdom-based aesthetic treatment provider Therapie Clinic. Therapie Clinic mainly operates in the United Kingdom and Ireland. The vice president of International Operations at SmileDirectClub noted that the collaboration with Therapie Clinic was a major milestone for the company in its quest to revolutionise that dental care industry.
The launch of these SmartShops came soon after the company had hit the key milestone of having recorded 2,000,000 customers. Following a strong performance in the first quarter, the company expanded its presence in the United States too.
Cenntro Electro Group Limited (NASDAQ:CENN) – The leading electric vehicles technology company was in focus on July 28 after it announced that it had regained compliance with the NASDAQ listing rules. In a letter dated July 27, 2023, from the Listing Qualifications Department of the exchange, it was noted that Cenntro Electro Group Limited had regained compliance with the NASDAQ Listing Rule 5250(C) (1).
The company regained compliance by having filed its annual report on Form 10-K for the fiscal year that ended on December 31, 2022. The filing was made by the company on June 30, 2023. On July 25, Cenntro Electro Group filed the financial results for the quarter ended March 31, 2023.
Theratechnologies Inc (NASDAQ:THTX) – The biopharmaceutical company is involved in the commercialization and development of innovative therapies. On July 28, Theratechnologies Inc announced that it had gone into an agreement with some funds and accounts managed by Marathon Asset Management LP.
The aim of the agreement was to amend few of the terms and conditions related to credit agreement that had been entered in July last year for lowering the minimum liquidity that must be maintained by Theratechnologies to $15 million. The previously agreed threshold was $20 million. The amendments stipulate that the company must hold a $15 million minimum at all times until October 31, 2023.
