NASDAQ Penny Stocks Momentum List: YELL, BRSH, LIDR, STKH, MYMD

While it is true that the NASDAQ is one of the biggest stock exchanges in the world and lists some of the biggest companies, there are many penny stocks to be discovered there too. These stocks can often result in significant returns and may be worth tracking. Here is a look into five NASDAQ-listed penny stocks which may be added to the watch lists at this point.

Yellow Corp (NASDAQ:YELL) was the biggest percentage gainer in Monday’s session as the stock skyrocketed 149% to close at $1.76. However, the stock is still down 30% so far this year.

On Monday it emerged that the United States trucking company, which had been struggling with liquidity issues, had stopped its operations and was preparing to file for bankruptcy. The announced was made by the Teamsters Union on Sunday. However, Yellow Corp did not respond to questions regarding the matter. In the early days of July, the company had managed to avoid a strike from 22000 workers represented by Teamsters.

Last week the company had announced that it was looking into opportunities to divest from its third party logistics company. Sean M O’Brien, the Teamsters General President spoke about the matter as well. He noted that Yellow Corp had demonstrated that it could not manage its business despite workers concessions worth billions and bailout funding worth hundreds of millions from the federal government. The company had been the third biggest trucker in the United States. It was a specialist in the less-than-truckload segment, which put together the shipments from a range of customers into one trailer.

Bruush Oral Care Inc (NASDAQ: BRSH) was another major gainer in Monday’s session and soared 80% to close at $0.24.

The company is a leader in the direct-to-customer oral care space and on Monday it made a key new announcement. Bruush Oral Care Inc announced that its Board of Directors had provided the approval for a 1 for 25 reverse split of its common shares. The company had gone for the move in order to be in compliance with the minimum bid price requirement rules of NASDAQ. The consolidation went into effect yesterday July 31, 2023.

The shares and warrants of the company would trade on a post-split basis from August 1, 2023. The shares and warrants would continue to trade under the same symbols, BRSH and BRSHW. However, after the consolidation, the CUSIP number of the common shares of Bruush Oral Care would be 11750K401. Following the move, each block of 25 shares held by a shareholder would be consolidated into one share. However, any fractional share with a value of less than .50 would be canceled.

AEye Inc (NASDAQ: LIDR) – After a severe fall in the first half of this year, the stock has shown a relief rally with a gain of 88% in just one week. However, the stock is still down 29% so far this year.

The company is a worldwide leader in high performance, adaptive LIDAR solutions and last Friday it made a significant announcement. AEye Inc announced that it had made an addition to its 4Sight Intelligent Sensing line of products. The product line is known for delivering the best obstacle avoidance, prediction and path planning capabilities in the industry. The company deployed its software architecture for improving the range of the sensor by 20% and spatial resolution was also boosted by as much as 400%.

The latter improvement would help in detecting high-speed small particles. The product would provide a comprehensive solution for automotive OEMs. On July 17 the company announced it would announce its financial results for the second fiscal quarter ended on June 30, 2023 on August 7, 2023 following the closure of markets. A conference call would be held on the same day and that would begin at 1-30 PM Pacific Time. The conference call would be made available through a webcast as well.

Steakholder Foods Ltd (NASDAQ: STKH) continues to trend higher and went up another 39% on Monday, extending its monthly rally to 98%.

The international deep-tech food company is one of the major players in the cultivated meat industry. This past Friday Steakholder Foods Ltd announced that it had been awarded a path breaking patent for advanced print heads designed for a paradigm shift in 3D bioprinting. More importantly, the leading-edge technology also represented a major advancement in edible biostructures fabrication.

In recent times, ,bioprinting has emerged as a path breaking process meant for the creation of complex biostructures. That includes edible biostructures since the functionalities and properties of the native tissues are mimicked through this process. The latest patent award for Steakholder Foods Ltd could be a major milestone and was an indication of the company’s relentless pursuit of commercial 3D printing technologies.

MyMD Pharmaceuticals Inc (NASDAQ: MYMD) was another notable gainer in the previous session and surged 31.82% to $1.45 on a very high volume.

The clinical-stage pharmaceutical company is involved in the development of novel therapies for age related diseases and conditions. Yesterday, MyMD Pharmaceuticals Inc announced that it had returned statistically significant top-line results from the randomized Phase 2 study of MYMD 1, its oral TNF-a inhibitor.

It is meant for patients suffering from chronic inflammation due to age related issues or sarcopenia. The study revealed that the product had managed to hit its primary end point of reducing chronic inflammatory markers significantly. The product could end up being the first drug to for sarcopenia to be approved by the United States Food and Drug Administration.