Wednesday’s Bounce List: CTIB, SNMP, BCAN, CTNT, ZJYL

The NASDAQ is among the largest stock exchanges in the world, and billions of dollars are traded every hour. Will some of that money go into stocks that might have struggled in the recent past? Are there opportunities for investors in NASDAQ-listed stocks that may bounce back? Here is a look at five of those that could

Yunhong CTI Ltd. (NASDAQ: CTIB): The custom film packaging products manufacturer Yunhong CTI Ltd. is mainly involved in the novelty balloons, balloon gift products, and candy industries. On August 2, the company announced its financial results for the second fiscal quarter and the six-month periods, both of which ended on June 30, 2023.

On the next day, the company’s management hosted a conference call to discuss the results as well. The Chief Executive Officer of the company, Frank Cesario, noted that the order indications for the upcoming holiday season had been strong, and the balloon sales figures bounced back to surpass the performance in the prior year quarter. However, balloon sales continued to be affected by the higher price of helium.

He went on to add that due to the usual fluctuations of the market, the film’s sales figures had been disappointing in the first quarter. However, the results proved to be much better compared to the second fiscal quarter.

Evolve Transition Infrastructure LP (NASDAQ: SNMP): On July 26, Evolve Transition Infrastructure LP made a major new announcement with regard to its listing issues on the NYSE American exchange. The company announced that on the previous day, it had received a notification from NYSE American LLC, which informed the company that it had resolved the issues related to its listing non-compliance. The issue was with regard to the low selling price of the Evolve stock, as enumerated in Section 1003(f)(v) of the NYSE America Company Guide.

Due to this development, the delisting determination with regard to the company has been withdrawn by the staff at NYSE Regulation. As a consequence, the trading suspension on the common units of the company was also lifted. Following the development, the common units of Evolve Transition Infrastructure resumed trading on the NYSE American on July 31, 2023. Despite the lifting of the trading suspension from the exchange, the company remained under the obligation to regain compliance with the listing rules as specified in its own previously disclosed plan.

BYND Cannasoft Enterprises Inc. (NYSE American: BCAN) Yesterday, BYND Cannasoft Enterprises Inc. was in focus after it announced its financial results for the six-month period that ended on June 30, 2023. The company also released the unaudited financial statements in the interim period, and discussions as well as analyses from management have been provided on the SEDAR website. Revenues for the period shot up by 21% year on year to $251,047 from $207,653 in the prior-year period.

The gross profit, however, went down to 57% as opposed to 59% in the prior-year period. Bynd Cannasoft Enterprises suffered net losses of $1,147,324 for the six-month period, which reflected a rise of as much as 242% from the losses of $473,386 in the prior-year period. The working capital at the company’s disposal stood at $1,021,170 at the end of the six-month period, which was lower than the working capital figure of $2,987,975 as of December 31, 2022.

Cheetah Net Supply Chain Service Inc. (NASDAQ: CTNT): Cheetah Net Supply Chain Service Inc. is involved in supplying parallel import vehicles from the United States for sales in the PRC. Last week, the company announced that it had been successful in concluding the public offering of 1250,000 shares of its Class A common stock that had been previously announced.

Each share of the Class A common stock was sold for $4 each, and the company generated gross proceeds of $5 million. However, offering expenses and underwriting discounts would be deducted from the sum. The underwriters of the offering had been provided with a 45-day option by Cheetah Net Supply to pick up 187,500 shares of the Class A common stock. It would compensate for the overallotment at the IPO.

Jin Medical International Ltd. (NASDAQ: ZJYL): The World’s leading rehabilitation equipment provider, Jin Medical International Ltd., made a key announcement about its nanobathing products on August 3. The company announced that those products had been awarded an invention patent in addition to four utility model patents.

The company noted that the medical nanobathing care bed had been awarded an invention patent. The company also announced that it had inked a directed procurement agreement with Shanghai ZhongjinHongKang Medical Technology Co., Ltd. for bed-type nanothermal therapy bath cabins. The company revealed that the agreement was a demonstration of the constant improvement that Jin Medical brought about in its nanothermal therapy products.