Where will the bottom Be? TRIB, NYMX, IFBD, FRGT

Stocks are all about ups and downs and it is important for investors to figure out if stocks going through a tough phase are going to bounce back or not. A stock may go through a prolonged slump but sometimes it can also offer opportunities and the best way of doing that is by picking up some of those stocks when they hit bottom. Here is a look into four stocks that have had tough times lately but figuring out the bottom may open up opportunities.

Trinity Biotech (NASDAQ:TRIB) – The biotech leader was in focus yesterday after it announced its financial results for the first fiscal quarter of 2023. While the financial results did demonstrate some positive aspects that investors ought to take note of, it did not do much for the Trinity Biotech stock. The stock suffered from a selloff and ended the day with a decline of as much as 14%.

That being said, the company did make a significant improvement in terms of its losses. The loss per share came in at $0.15 and that was a 69.6% improvement from the $0.50 per share in losses in the prior year period. It was an indication that Trinity had made considerable progress in cutting its losses and boosting its balance sheet.

The revenues generated by the company for the quarter was $14.83 million, which worked out to a slight drop by 5.40% year on year from the revenues of $15.68 in the prior year period. Although it may be seen as a negative, Trinity had been growing its earnings at an annual growth rate of 18.5%. The medical equipment industry at large had seen its earnings grow at only 9.9% annually. That is an indication of the fact that there may be potential for strong growth in the future. It now remains to be seen if the stock slides further or not in the coming days.

Nymox Pharmaceuticals (NASDAQ:NYMX) – The past few days have been fairly difficult for the Nymox Pharmaceuticals stock as it continued to be in free fall. Yesterday, the stock continued to slide and ended up with a decline of 20%. That took the cumulative decline in the stock to as much as 30%. The stock continued on its downward slide yesterday after the company announced that its shares would be delisted from NASDAQ on Friday morning.

The delisting of the stock took place because Nymox Pharmaceuticals had failed to regain compliance with the $1 minimum bid requirement rule of the exchange. The company revealed that it had been unable to regain compliance during the six-month extension that it had been given by NASDAQ.

Once the delisting is completed, the shares of Nymox Pharmaceuticals would be listed on the over-the-counter market. The Chief Executive Officer of the company Dr. Paul Averback spoke about the development as well. He stated that the current period would be a critical time for Nymox Pharmaceuticals since the company was in the process of submitting multiple marketing applications.

He thanked the shareholders and went on to note that the management was trying its best to hit key milestones in its business in a ‘reasonable’ time horizon. At one point yesterday, the trading volume in the stock had touched 92000. The average daily trading volume in the Nymox Pharmaceuticals stock.

Infobird Inc (NASDAQ:IFBD) – The company, which is headquartered in Beijing, China has had a tough year so far and it has been reflected in its stock price. On Thursday, the stock experienced a steep selloff and went down by 18% and that made the overall fall for the year to as much as 70%. The company is involved in providing software-as-a-service in the form of artificial intelligence-powered customer engagement solutions for the Chinese market. In this situation, the investors need to figure out if the downward spiral is going to abate any time soon or not. If it might be a good time to pick up the stock on the cheap.

While there has been no news about the company in recent days, Infobird did get a significant boost on May 31, 2023. The company announced at the time that it had got a notification from NASDAQ’s listing qualifications department, which notified that on May 30, 2023, it had regained compliance with the exchange’s minimum bid price requirement rule.

The matter had been closed following the notification. Infobird had been notified on December 6 last year by NASDAQ that it had failed to maintain a minimum bid price requirement of $1 for 30 consecutive trading days. It had been provided with a period of 180 days within which to regain compliance. That worked out to June 5, 2023. On May 15, 2023, Infobird Inc completed a share consolidation in a 1 for 5 ratio and that helped it in regaining compliance.

Freight Technologies Inc (NASDAQ:FRGT) – The technology is involved in the development of solutions targeted at automating and optimizing supply chain dynamics. The company also operates a fully owned subsidiary unit named Freight App Inc, which works in the business-to-business cross-border shipping marketplace in the USMCA. Freight App powers its solutions with machine learning and artificial intelligence.

The company experienced a selloff on its stock on Thursday as it ended the day with a decline of 11%. Yesterday, Freight Technologies announced that it had concluded its integration with Trucker Tools, a popular carrier relationship management platform in the United States market.

The company revealed that thanks to the integration the offers on loads could rise by 75% and help in the growth of the carrier network 20 times in the United States. It could prove to be a major new development in the logistics space. Due to the collaboration, each load posted on the Fr8App platform would become instantly available to the pool of drivers who use Trucker Tools. The drivers would be able to view the loads and then place bids on them with ease.