Overlooked Stocks, Under $1, that You should Watch!
The following companies are covered in this article, (OTCQB:KBLB), (NASDAQ:GNS), (NASDAQ:LICY), and (NASDAQ:PHUN)
DENVER, Colo, January 23, 2024 (247marketnews.com)– As the major indexes continue to smash through previous highs, some of the biggest trades this week have been happening in companies trading below $1.
(OTCQB:KBLB) Kraig Biocraft Laboratories shares moved up 5% on Monday, as volume increased more than double the 60-day moving average and shares are beginning to consolidate under a nickel. Kraig Labs shared an update on near-term commercial applications and opportunities for recombinant spider silk as it prepares to expand production in 2024.
Spider silk has long been prized for its unique blend of chemical and mechanical properties, including strength and elasticity, and Kraig Labs is currently in the process of ramping up production trials of its trademarked Dragon Silk™ recombinant spider silk. The move to ramp up production follows on the heels of the Company’s successful early production test announced in December.
One can look at the chart for the last 3 years on this stock and see the volatility a “production” run can have on the stock. Don’t sleep on Kraig Labs.
Kraig Labs is the leading developer of genetically engineered spider silk-based fiber technologies and achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.
(AMEX:GNS) Genius Group Limited increased more than 26% on 2024 financial guidance news. GNS projected 110% expected growth on $56-$60 million in revenue. The stock traded more than double the 10-day moving average and closed at 37-cents. Genius Group was trading above $2 back in September, but the price was depressed on the recent filing and closing of an $8.25 million offering. The stock has had wild volatile moves up in the past and could finally be ready to fill the gap on the way back up. It’s one to watch.
Genius Group is a leading entrepreneur Edtech and education group, with a mission to disrupt the current education model with a student-centered, life-long learning curriculum that prepares students with the leadership, entrepreneurial and life skills to succeed in today’s market. The group has a group user base of 5.4 million users in 200 countries, ranging from early age to 100.
(NASDAQ:LICY) Li-Cycle’s market perked up Monday the 22nd on a report that the heavily shorted stock had gotten on traders’ radars. LICY traded 7.48 million shares today on rumored potential short squeeze. Li-Cycle has not announced any new news in a while; however, shares were $2.36 in November. So, if volume continues, things could get interesting. The average 10-day volume is 4 million and the stock had more than 66,000 trades by yesterday’s close, which is an indicator of a large retail presence.
Li-Cycle is a leading global lithium-ion battery resource recovery company and North America’s largest pure-play lithium-ion battery recycler, with a rapidly growing presence across Europe. Established in 2016, and with major customers and partners around the world, Li-Cycle is on a mission to recover critical battery-grade materials to create a domestic closed-loop battery supply chain for a clean energy future. The Company leverages its innovative, sustainable, and patent-protected Spoke & Hub Technologies™ to provide a safe, scalable, customer-centric solution to recycle all different types of lithium-ion batteries. At our Spokes, or pre-processing facilities, we recycle battery manufacturing scrap and end-of-life batteries to produce black mass, a powder-like substance which contains a number of valuable metals, including lithium, nickel, and cobalt. At our Hubs, or post-processing facilities, we will process black mass to produce critical battery-grade materials, including lithium carbonate, nickel sulphate, and cobalt sulphate. For more information, visit https://li-cycle.com/.
(NASDAQ:PHUN) Phunware Inc. stock soared more than 60% yesterday and traded more than 774.66 million shares. To put this into perspective, it generated more than 426,000 trades and 268.36 million in dollar volume. The stock had fallen on a previous funding announcement but has reclaimed most of those losses over the last 10 days of trading. The stock traded more than double the 10-day moving average. The previous offering was done at 6-cents per share. This stock could get interesting in the coming days.
Phunware was one of our favorite stocks over the past week and was included in several of our watchlists during that time.
Phunware’s mission is to achieve unparalleled connectivity and monetization through widespread adoption of Phunware technologies, by leveraging brands, mobile consumers, partners and digital asset holders and market participants. With the activation of Phunware 3.0, Phunware is poised to expand its software products and services audience and verticals, utilize and monetize its patents and other intellectual property rights and interests, and update and reintroduce its digital asset ecosystem for existing holders and new market participants.
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