Penny Stocks on the Move: Today’s Top Gainers and Biggest Decliners

Sky Quarry Inc. (SKYQ)
Sky Quarry Inc. (SKYQ), operating in the Business Services & Commercial Goods sector, surged dramatically today, ranking as the top mover in the penny stock market with a 73.49% gain. Its intraday high reached $1.12 before settling at a $0.72 close. Reports indicate a major Nigerian telecom operator, within the last week, executed a significant rebranding and strategic shift seeking new commercial partnerships. Concurrently, a key national pension regulator suspended several mortgage providers from accessing housing loan funds, potentially reshaping the competitive landscape for business service providers operating in related sectors.

Taitron Components Incorporated (TAIT)
Taitron Components Incorporated (TAIT), operating in the Electronic Equipment, Instruments & Components sector, surged 64.40% today, ranking as the second biggest mover in the penny stock market. Shares reached an intraday high of $5.10 before closing at $3.51. Reports indicate the company faced a challenging second quarter 2025 with a net loss. However, momentum built following news around September 3rd of a strategic industry player acquiring an advanced AI company, signaling sector consolidation potentially benefiting component suppliers like Taitron.

Beyond Air, Inc. (XAIR)
The healthcare equipment stock surged 49.77% to close at $3.31, ranking #3 in penny stocks today after hitting an intraday high of $4.78. Recent developments appear to be influencing medical equipment demand; specifically, reports indicate Abia State plans new disease isolation centers (Sept 8) as Nigeria emerged as Africa's largest HPV vaccine market (Sept 8).

Talphera, Inc. (TLPH)
Talphera, Inc. (TLPH), operating in the Pharmaceuticals sector, surged 49.18% to rank 4th among penny stocks today, hitting an intraday high of $1.07 before closing at $0.82. Recent developments may be influencing sentiment: reports indicate Abia state plans new disease isolation centers (Sep 8, 2025), and PenCom suspended seven mortgage banks from pension-backed housing loans on Sep 5, potentially altering financing avenues for related industries.

Millennium Group International Holdings Limited (MGIH)
Millennium Group International Holdings Limited (MGIH), operating in the Containers & Packaging sector, surged 42.14% today—ranking as the fifth-largest gainer among penny stocks—reaching an intraday high of $4.84 before closing at $2.26. Recent sector-specific catalysts include Nigeria's introduction of a 5% fuel tax under the Harmonized Tax Act on September 8, potentially affecting industrial input costs, and the Dangote refinery confirming stable operations on September 8 amid union disputes, easing supply chain concerns for packaging materials.

New Fortress Energy Inc. (NFE)
NFE plummeted 42.86%, ranking as today's worst-performing penny stock, closing at $1.40 after hitting an intraday low of $1.26 in the Oil, Gas & Consumer Fuels sector. This dramatic drop follows Nigerian market turmoil, with union threats to shut the Dangote refinery reported Sept. 8 and Nigeria's new 5% fuel tax under the Harmonized Tax Act introduced on the same day heightening sector uncertainty; analysts cite potential disruptions to regional gas operations.

Professional Diversity Network, Inc. (IPDN)
Professional Diversity Network, Inc. (IPDN), operating in the Information Technology Services sector, saw its stock plummet 33.54% to close at $4.28, ranking as the second-largest decline among penny stocks today; shares touched an intraday low of $4.18. Contributing factors likely include significant Nigerian pension fund restrictions impacting financial service providers, as reports indicate seven mortgage banks were barred days ago from accessing pension funds for housing loans. Concurrently, analysts point to notable corporate rebranding announcements within Nigeria's telecom sector suggesting ongoing market turbulence potentially affecting partner ecosystems, with 9mobile's transition to the T2 brand becoming effective September 6.

Cdt Equity Inc. (CDT)
CDT Equity Inc., operating in the Biotech sector, saw its stock plummet 32.46% today, ranking as the third-worst performer among penny stocks. Shares hit an intraday low of $0.78 before closing at $0.80. Regulatory scrutiny and operational pressures contributed to the decline, particularly amid Nigeria's healthcare system strain. Reports indicate resident doctors in the Federal Capital Territory initiated a seven-day warning strike on September 8th, exacerbating sector-specific headwinds. Concurrently, analysts highlight systemic challenges facing Nigerian biotech firms, with broader industry reports underscoring infrastructural gaps for future health crises.

Cnfinance Holdings Limited (CNF)
Cnfinance Holdings Limited (CNF), operating within the Commercial Banking sector, saw its stock plunge 30.47% today, ranking as the fourth-largest decliner in the penny stock market. The shares reached an intraday low of $2.62 before closing at $3.24. Sentiment was pressured by Nigerian regulatory actions affecting financial firms; authorities suspended seven mortgage lenders from pension housing schemes on September 3 while civil service hiring delays persisted on September 5, tightening credit access in local markets.

Mei Pharma, Inc. (MEIP)
Mei Pharma, Inc. (MEIP), a biotechnology firm, saw its stock plummet 29.08% today, ranking as the 5th worst performer among penny stocks. The stock hit an intraday low of $2.92 and closed at $3.00. Recent regulatory developments have unsettled markets, as Nigeria's pension regulator blacklisted seven mortgage banks for non-compliance yesterday, potentially impacting capital flows. Concurrently, reports indicating ongoing security negotiations with armed groups heightened regional instability concerns. Analysts say this confluence of negative news exacerbated selling pressure in risk-sensitive assets like penny stocks today.