Here is a brief overview of the news related to the three most volatile penny stocks:
- Arqit Quantum (ARQQ):
- ARQQ has recently executed a 25:1 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement1.
- The company has seen a significant drop in short interest in July, with a decline of 24.1% as of July 31st2.
- Despite the challenges, H.C. Wainwright maintains a Buy rating on the shares with a steady price target of $2.001.
- Markforged Holding (MKFG):
- MKFG has experienced a substantial increase in stock price after announcing an all-cash acquisition deal with Nano Dimension3.
- The company has also undergone a 1:10 reverse stock split to address non-compliance with Nasdaq's minimum bid price requirement45.
- There are concerns about the stock's volatility and the recent settlement and patent license agreement related to a patent infringement litigation36.
- TransCode Therapeutics (RNAZ):
- RNAZ has been awarded a $2 million grant from the National Institutes of Health to support clinical evaluation of its lead therapeutic candidate7.
- The company reported an EPS miss for the second quarter of 2024, with an EPS of -74 cents, below the estimate of -58 cents8.
- HC Wainwright has a Buy rating on the stock with a price target of $3.009.
These news snippets should provide a comprehensive background for evaluating the potential volatility and investment opportunities associated with these penny stocks.