Momentum is something that many investors look for when it comes to putting money in stocks. Irrespective of other factors, if a stock has momentum then many investors flock to it and ride out the wave as soon as it lasts. Every morning thousands upon thousands of investors start their trading days looking for such stocks and more often than not there are almost always a few of those. Before the beginning of the trading day, this article gives you a glimpse into five momentum plays that you could track this morning.
Sparta Commercial Services Inc (OTCMKTS:SRCO) – The first one that could be one of the penny stocks to possibly generate handsome returns for investors is the Sparta Commercial Services Inc stock.
The company saw its stock gather momentum this past Friday and ended the day with gains of as much as 7% as a consequence. It may be a good idea for investors to possibly take a closer look at the company and its business before making up their minds about the stock one way or another. It is a diversified company and also has interests in the fast-growing cryptocurrency sector. In addition to that, Sparta Commercial Services also has interests in e-commerce, CBD, wellness, mobile app development, website development, and national municipal lease financing industries.
In the quarter that ended on January 31, 2022, Sparta Commercial Services managed to record growth in revenues on a sequential basis and the next quarterly results could be announced by the company soon. It is likely that investors are going to look into the results quite closely. At this point in time, the company mainly boasts of two different verticals when it comes to growth generation.
One of those is iMobile Solutions, which is involved in the company’s IT solutions business. Another one is New World Health Brands Inc which is involved in the health and wellness industry. It is going to be interesting to see if the Sparta Commercial Services stock can manage to hold on to its momentum and add to its gains today.
Premier Medical Laboratory Services (NASDAQ:ADTX) – The first stock that makes it to this list is that Premier Medical Laboratory Services, which was in considerable focus among investors yesterday and ended up with gains of as much as 40% as a consequence.
That being said, there was no news about the company yesterday, although it had managed to gain momentum. The last time Premier Medical Laboratory was in the news was back on June 14 when the company announced that it had added AditxtScore to its testing service offerings.
It is a test that allows patients to go for customized COVID 19 immune tests and could well prove to be a major boost for the company’s immediate future.
Athersys (NASDAQ:ATHX):- The next stock to look into if you are looking into momentum stocks is Athersys, which was in the middle of a strong rally yesterday and ended up with gains of 9%. It should also be noted that the rally that was seen in the stock on Wednesday took the total gains for the past month to as much as 30%.
Earlier this month on June 9, it emerged that Athersys had decided to postpone the annual meeting of shareholders since it wanted to add another proposal. The proposal in question was with regards to a reverse stock split.
COMSovereign Holding Corp (NASDAQ:COMS): – Another major momentum stock at this point in time is of COMSovereign Holding Corp, which was a major gainer yesterday as it ended the day with gains of as much as 60%. The company is involved in the development of 4G LTE and 5G solutions.
Last week on June 23 it announced that it had managed to bag a contract for a G ORAN-FlexRAN system from the National Institute of Standards and Technology (“NIST”), Shared Spectrum Metrology Group. The contract is valued at $199400 and may have been one of the reasons for the rally in the COMSovereign Holding Corp stock.
Aeterna Zetarnis Inc(NASDAQ:AEZS) – The Aeterna Zetarnis Inc stock was in the middle of a major rally yesterday despite there being no news about the company and ended up with gains of as much as 43% as investors piled on to it.
The last time the company was in the news was back on June 21 when it announced that all the proposals had been approved at the annual meeting of shareholders except the one related to the consolidation of Aeterna Zetarnis Inc shares. The announcement may have had an impact on the latest rally that was seen in the stock.
Avenue Therapeutics Inc (NASDAQ:ATXI) – Specialty pharmaceutical firm Avenue Therapeutics Inc was in considerable focus investor yesterday and gathered strong momentum to end the day with gains of 32%. There was no news about the company yesterday.
The company is involved in the development and commercialization of products that are supposed to be used in the intensive care or acute care units at hospitals or in similar settings. It remains to be seen if the stock can hold on to its momentum today.
