Investors are inclined to prioritize stocks exhibiting notable upward momentum. Following a consolidation period, the trend resumed its upward trajectory, initiating another upswing trend.This article will examine five such stocks currently trending higher.
Intelligent Bio Solutions Inc. (NASDAQ: INBS): Recognized as a frontrunner in innovative medical technology, Intelligent Bio Solutions Inc. has garnered notable short-term attention. The company reported robust fiscal second-quarter and six-month results, concluding on December 31, 2023, showcasing a remarkable year-on-year revenue surge of 337% for the six-month period and 114% for the second fiscal quarter. This stellar performance is attributed to the increasing adoption of the company’s Intelligent Fingerprinting Drug Screening System.
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Closing the week at $5.57 on Friday, March 1, 2024, the company's stock has recently shown stability in the mid-$5 range, exhibiting its narrowest trading range in seven sessions. Furthermore, a bullish swing setup has emerged, largely driven by short covering. This development warrants close observation.
TRxADE HEALTH Inc. (NASDAQ: MEDS): On March 6, the stock surged significantly, recording gains of 115% amid considerable investor interest. TRxADE HEALTH Inc. gained prominence following its announcement that the board of directors had approved a special cash dividend of $8 per share of common stock. This special dividend would be funded from a portion of the proceeds derived from the sale of its web-based market platform entities. Scheduled for payment on March 22, 2024, the dividend will be distributed to all TRxADE HEALTH shareholders recorded as of March 18, 2024.
Infobird Co., Ltd. (NASDAQ: IFBD): specializes in delivering software as a service (SaaS) solution powered by artificial intelligence for customer engagement. On March 6, Infobird Co. Ltd. saw its stock surge by 46%. The company previously announced on February 26 that it had opted to revise the effective date of its reverse stock split to March 4, 2024. The press release highlighted that trading of the stock on a split-adjusted basis would commence upon the market's opening on that date. This delay was attributed to unforeseen challenges in obtaining specific regulatory approvals.
Airship AI Holdings Inc. (NASDAQ: AISP): is a prominent figure in the realm of artificial intelligence-driven data management, sensor technology, and video surveillance solutions. On March 6, the stock of Airship AI Holdings Inc. attracted attention as it surged by 40%. The preceding day, the company revealed the acquisition of a significant contract with an agency within the Department of Justice. This contract pertains to the utilization of the Acropolis Enterprise Sensor Management platform, a video and data management solution developed by the company.
Catheter Precision Inc (NYSE American: VTAK): The company has made significant advancements in the medical technology sector with its innovative products. A standout among these is Catheter Precision Inc.’s flagship product, VIVO, which has revolutionized cardiac procedures. HC21, a UK distributor, has administered 165 procedures using VIVO, generating $1500 in revenue for each procedure with a gross margin of 90%. VIVO, a non-invasive device for detecting cardiac arrhythmias before heart procedures, remains a cornerstone product for the company. Other distributors, hospitals, medical facilities, and similar entities conducting VIVO procedures will also be disclosing their findings.
Catheter Precision, Inc. (NYSE American: VTAK) is approaching its 200-day moving average (DMA) and a breakout point at $0.59, maintaining a consistent trading pattern above both its 20 and 50 DMAs. The convergence of multiple bullish indicators, alongside a robust upward trend, suggests that surpassing the $0.59 threshold could trigger another upward trend for the stock.
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