In the stock market, "momentum" is a term used to describe the strength of a stock's upward or downward trend. When a stock has momentum, it means that the price is consistently moving in a particular direction, and there is a high probability that this trend will continue.
On Thursday, four stocks under a penny showed momentum by finishing the day in the green. This means that they closed higher than their opening price and demonstrated the potential for continued upward movement in the next trading session.
Let's take a closer look at four stocks that exhibited positive momentum in Thursday's trading session to see if they can sustain this energy going forward.
Epazz, Inc. (OTC:EPAZ) is a leading provider of cloud-based software solutions, drone technology, blockchain-based cryptocurrency mobile apps, and metaverse solutions. The company specializes in customized cloud applications for the corporate world, the public sector, and higher education institutions. Epazz is at the forefront of developing metaverse business solutions that enable real-time collaboration through virtual reality and is currently upgrading its business solutions to be fully integrated into the metaverse.
On Thursday, EPAZ announced the development of low-cost augmented reality smart glasses called Stacklens. According to EPAZ, the Stacklens augmented reality smart glasses will be available for under $400 per pair.
The Stacklens glasses are durable and comfortable, making them ideal for use in field service companies where technicians can use them to fix complex machines. EPAZ plans to improve the technology for use with their ZenaDrone 1000 to create a first-person-view smart glasses product with augmented reality technology.
The company has submitted a proposal to the armed forces to use the technology in the field and has received positive feedback from the United States military. CEO Dr. Shaun Passley believes that Stacklens is a game changer in the service industry, providing affordable access to smart augmented reality glasses. With Stacklens, Epazz hopes to win more deals and expand its reach in the European market.
EPAZ closed trading on May 4 at $0.0063 per share, representing a 5.00% increase from the previous day's closing price. The company's stock has shown positive momentum on this day, which may be attributed to the recent announcement of their low-cost augmented reality smart glasses, Stacklens. Epazz's innovative approach to providing affordable technology solutions has attracted investors' attention, demonstrating that the company's drone solutions and other technology offerings have big potential for further growth in the future.
Emergent Health Corp. (OTC:EMGE) is a company that specializes in curating, developing, and marketing products in the innovative regenerative health space. Its diverse range of products includes ingestibles and topicals that cater to the wellness needs of individuals and families alike. The company adopts a strategic approach to distribution by leveraging the power of content-based shopping, which involves collaborating with influencers to showcase its products in their content. This approach has proven effective in positioning Emergent's products throughout the United States and beyond, ensuring a wide reach for its customer base.
Emergent Health Corp. announced on Thursday that it has executed a term sheet for a firm committed to underwriting $10 million with a nationally recognized investment banking firm. This financing will be used for planned corporate financing transactions, including the private placement of securities and the planned initial public offering of Emergent subsidiary, 'PharmaZu' common stock.
The IPO will be applied for listing on NASDAQ or NYSE/AMEX with no dilution to emerging shareholders. PharmaZu is an e-commerce product and service provider focused on the pet community, pet pharmacy, and pet wellness. The company plans to acquire a 48-state authorized compounding pharmacy located in West Palm Beach, FL, upon the effectiveness of the IPO and listing on a national exchange. The capital raised will be used for expanding PharmaZu's business, product offerings, and acquisitions. Upon completion, Emergent plans to distribute shares of PharmaZu as a dividend to its shareholders pro rata.
EMCE shares are priced at 0.0046 USD, marking a 54.33% increase from the previous trading day.
InnerScope Hearing Technologies Inc. (OTC:INND) surged by 13.04% yesterday and is currently trading at 0.0026 USD.
Last month, INND announced the launch of its HearingAssist brand of FDA-registered over-the-counter rechargeable hearing aids on Walgreens.com. The HearingAssist brand has sold over 500,000 hearing aids and is fast becoming America's #1 brand of OTC hearing aids. The HearingAssist OTC Rechargeable Hearing Aids are priced from $499 to $799 a pair, providing affordable, high-quality hearing aids to Walgreens customers without the need for a hearing exam or prescription.
The devices have the latest hearing technology features, including Bluetooth wireless app-controlled models for hands-free phone calling and listening to music or podcasts. This latest launch is part of InnerScope's successful B2B sales growth strategy, which continues to dominate the OTC market with more wholesale distribution and market penetration than any other OTC hearing aid competitor.
IGEN Networks Corporation (OTC:IGEN) is another stock with some momentum from yesterday's market. IGEN is an innovator of solutions for the consumer automotive, fleet management, and supply-chain industries. The company recently announced the closing of non-brokered private placements with two of its directors, Neil G. Chan, Chief Executive Officer, and Robert B. Nealon, Chairman of the Board, for a combined purchase of 83,333,333 restricted shares at an average price of $.0005625 per share with a hold period of 6 months.
IGEN's directors and officers now hold a combined total of 173,138,963 common shares, or 8% of the total shares outstanding. The CEO of IGEN, Neil G. Chan, stated that their directors and officers have been instrumental in positioning the company with great partnerships, technologies, and intellectual properties over the last several years despite macro-challenges. He added that the company's 2023 plan will be executed by demonstrating their convictions through increased ownership of IGEN.
Following the news, IGEN Networks Corp.'s shares closed at a price of $0.00090 per share, showing a significant gain of 28.57%, or $0.00020, from the previous day's closing price. This positive movement could indicate increased investor confidence in the company's recent announcement of the private placements and their plans for 2023.
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