Nasdaq Stock Momentum List Under $5: XXII, IFBD, SGMA, ADES, APVO

The NASDAQ is one of the biggest stock exchanges in the world and lists thousands upon thousands of stocks, including those of some of the biggest corporations. It also attracts millions of investors on a daily basis. This article would provide you with a closer look into five NASDAQ-listed stocks trading under $5 a share which may be worth tracking.

22nd Century Group Inc (NASDAQ:XXII) continued to regain momentum after a big sell-off in early July. On Thursday, the stock soared 35%, extending its weekly gain to 50%. However, despite this week’s rally, the stock is still down 45% in the past month.

The biotech leader is focused on the utilization of plant technologies for improving health and wellness through reduced hops, hemp, cannabis, and nicotine tobacco. The company was in the news cycle yesterday after it announced that it had become compliant again with the listing requirements of NASDAQ.

In a letter from NASDAQ dated July 19, 2023, the exchange informed the company that it had regained compliance with regard to the minimum bid price requirements rule necessary for continued listing. 22nd Century Group Inc is intent on improving health and wellness through plant science. It owns a number of patents that allows it to control the biosynthesis of nicotine in the tobacco plant.

For instance, 22nd Century Group has also been successful in developing its proprietary reduced nicotine content (RNC) tobacco plants and cigarettes. Those plans and cigarettes have also become a major constituent of the comprehensive plan from the FDA to control the disease and deaths brought about by smoking.

Infobird Co Ltd (NASDAQ:IFBD) – was another stock that bounced back on Thursday after witnessing a big fall in the past month. The stock rallied 31.50% to close at $0.92. The stock has lost 41% in the past month and 80% in the past 6 months.

The company is a software-as-a-service or SaaS provider of customer engagement solutions powered by artificial intelligence. It operates in the Chinese market. This week Infobird Co Ltd announced that it had decided to move its operations to the Hong Kong Administrative Region from Beijing. The move is a strategic one for the company since the board of directors made a judgment call about the current business climate and economic situation.

Additionally, the move would be in line with Infobird Co’s ambitions to expand globally. The company would move its operations to Hong Kong and would also hire local employees from the region. The company’s goal is to ultimately expand globally and it seeks to go about it by setting up offices in some of the key locations like Singapore as well as in other locations in South East Asia and Europe.

The relocation could be a major step in the company’s strategy of becoming a global player and there are also going to be operational tweaks. Infobird Co will also expand its SaaS offerings in finance, hotel and real estate management in the near term.

SigmaTron International Inc (NASDAQ:SGMA) – stock continued to trend higher and jumped 27% to $4.55. The stock has gained 35% in the past week and 22% so far this year.

On Wednesday the electronic manufacturing services company SigmaTron International Inc announced its financial results for the first fiscal quarter as well as the fiscal year. Both those periods ended on April 30, 2023. The company generated revenues of $414.4 million for the 2022 fiscal year, which worked out to a year-on-year rise of 10% from the revenues of $378.3 million in the previous fiscal year.

Net income dropped to $14.2 million from $18.4 million in the 2022 fiscal year. The basic income per share stood at $2.34 as opposed to $3.81 per share in the previous fiscal year. In the quarter that ended on April 30, 2023, SigmaTron International clocked revenues of $108.3 million, which reflected a year-on-year rise of 10% from the revenues of $98.9 million in the prior year period. The net income for the quarter soared to $5.3 million from $2.3 million in the prior year period.

Advanced Emissions Solutions Inc- The company offers emission control solutions for industrial, power generation, and municipal water purification spaces. On July 17 Advanced Emissions Solutions Inc announced that it had appointed Robert Rasmus as its new Chief Executive Officer and President. He would succeed Greg Marken.

The chairman of the company’s board of directors L Spencer Wells spoke about the development as well. He thanks Greg Marken for his services to Advanced Emissions Solutions on behalf of the board. He went on to note that Marken had taken over at a difficult time when the COVID-19 pandemic was at its height. He took steps to make the business stronger. He welcomed Rasmus to his new role and expressed confidence in his capabilities as a leader.

ADES stock has been soaring over the past month with a gain of 81%. On Thursday, the stock went up 19.29% to close at $2.35.

Aptevo Therapeutics Inc (NASDAQ: APVO) stock closed up about 19% to $1.05, after falling earlier this week. The stock is still down 38% this week.

The clinical-stage biotech company, which owns its proprietary platform technologies ADAPTIR and ADAPTIR-FLEX, uses those platforms to develop immune-oncology therapeutics. On July 18 the company announced that its biospecific AML drug candidate APVO 436 achieved positive duration of remission results in combination with the latest standards of azacitidine and venetoclax.

The results had been achieved during the Phase 1b dose-escalation trial. Aptevo Therapeutics went on to announce that the Phase 2 program, which would begin in the latter half of 2023, would include both relapsed/refractory and frontline trials.