Investors often find stocks with momentum attractive because they have shown a recent trend of strong performance. The belief is that this trend may continue, offering the potential for profitable investments. For those interested in stocks that have gained momentum lately, here are four penny stocks worth exploring:
Ameritek Ventures Inc. (OTC:ATVK) is making a name for itself in the tech industry by focusing on cutting-edge technologies like robotics, blockchain cloud software, and artificial intelligence. Among its notable subsidiaries is Augmum, which specializes in merging machine learning and augmented reality. Augmum's inventive approach aims to enhance the control of robotic arms using specialized gloves and glasses.
Ameritek Ventures envisions that Augmum's technology could revolutionize multiple industries in the future by enhancing precision and automating tasks. This vision aligns well with the global robotic technology market, projected to reach a staggering $283 billion by 2023, a significant leap from $72 billion in 2022. The company is well-positioned to capitalize on this remarkable growth.
On September 7, Ameritek Ventures made a significant announcement: its subsidiary, Augmum, had filed a patent for its robotic arm technology. Augmum's ultimate goal is to create a versatile platform accessible to militaries, corporations, and healthcare organizations, enabling remote access to robotic arm technology. This innovation facilitates seamless interaction with distant environments.
Imagine military doctors stationed at a base communicating with and treating a patient on the front lines of a conflict. Augmum's technology, developed over four years, is finally preparing to enter the market. It relies on HailOas glasses, offering an all-encompassing solution for remote environment interactions.
Ameritek Ventures plans to price the augmented reality glasses at an affordable $500 each, making it an attractive entry point for artificial intelligence-powered robotic arm technology. This patent filing comes about a month after Ameritek Ventures took significant strides toward becoming a leader in enterprise software solutions.
On June 28, 2023, the company confirmed its plans to launch AI-powered business decision-making software. This software will cover a wide range of functions, including employee performance evaluations, cybersecurity management, crucial data analysis, and balanced scorecards, among others.
Ameritek Ventures also gains a competitive edge in the medical industry through its subsidiary, FlexiFridge. This subsidiary offers a smart mini-fridge designed for medical use, boasting an impressive 8-hour battery life. This feature makes it ideal for transporting temperature-sensitive medications and vaccines that must be kept below freezing for preservation.
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Elite Pharmaceuticals Inc. (OTC:ELTP) is a specialty pharmaceutical company involved in the development, manufacturing, and distribution of niche generic products. The company’s product lines constitute both controlled-release and immediate-release items, in addition to solid oral dose products.
On September 7, Elite Pharmaceuticals Inc. announced that it had appointed a new Chief Financial Officer in the form of Carter Ward. The appointment went into effect on September 5. From July 2009 through May 2021, he was the Chief Financial Officer at the company, and in its news release, Elite Pharmaceuticals noted that it was pleased that he had re-joined the company in the new role.
Ward’s experience in the industry spans a period of more than three decades, and prior to taking up the latest position, he had been the Chief Financial Officer at Mirror Biologics Inc., a private life sciences company. Prior to that, Ward had been with the publicly traded biotechnology firm Enveric Biosciences Inc., where he had been the Chief Financial Officer.
Before his earlier association with Elite Pharmaceuticals, he had worked in a number of supply chain and finance roles at Actavis Group and its United States-based subsidiary unit, Amide Pharmaceutical Inc. Ward had also been a consultant for the firm Centennial Communications Corp., a company listed on NASDAQ.
At the beginning of his career, he was employed in the capacity of a certified public accountant in the audit department of the behemoth KPMG. He holds a Bachelor of Science degree in accounting from Brooklyn, New York-based Long Island University. The company expects Ward to be an important asset to its management team as it tries to generate growth through its direct sales and distribution channels.
Northwest Biotherapeutics (OTC:NWBO) is a biotech company that is involved in the development of customized immunotherapy products designed for the treatment of cancer that are more effective than traditional treatments. Additionally, the treatments are also free of the toxicities that are generally associated with chemotherapies. Northwest Biotherapeutics seeks to offer the products at a competitive cost in both Europe and North America. The company is involved in the development of DCVax-customized immune therapies for treating solid cancer tumors.
On September 12, the company announced that it had added a new member to its Scientific Advisory Board in the form of Dr. Linda Liau, MD, PHD, MBA. Dr. Liau had been the principal investigator of the company’s Phase 3 trial of DCVax-L for the treatment of glioblastoma. Currently, she is the Chair of the Department of Neurosurgery at UCLA as well as the Professor and Director of the UCLA Brain Tumor Program.
She is also the Editor in Chief of the Journal of Neuro Oncology and Director of the UCLA Brain Cancer SPORE (Specialized Program of Research Excellence). Last but not least, Dr. Liau had also been elected to the National Academy of Medicine. Some of the long-serving members of the Scientific Advisory Board of Northwest Biotherapeutics include Dr. John Smyth, Dr. Samir Khleif, and Dr. Jerome Galon. Until his death, Dr. Mac Cheever had also been a member for many years.
The joining of Dr. Liau is expected to further strengthen the Scientific Advisory Board at the company due to her considerable experience as a leader in the field of neuro-oncology. She had been involved in research pertaining to immunotherapies and brain cancer biology over the course of many decades. Lastly, her experience with the Phase 3 trial of DCVax-L as its lead investigator is also expected to be a key factor in the work that she will accomplish in her new role at Northwest.
Enzolytics Inc. (OTC:ENZC) is a drug development company focused on the commercialization of its proprietary monoclonal antibodies and proteins meant for the treatment of impairing infectious diseases.
On September 18, Enzolytics Inc. was in the news cycle after it announced that it had been successful in executing the binding combination agreement for the sale of its operating subsidiaries, Biogenysis Inc. and Virogenetics Inc., to Sagaliam Acquisition Corp. The company announced that, as per the agreement, the transaction would be worth $450,000,000. The combined new entity would be expected to be listed on NASDAQ.
In the news release, the company revealed that the de-SPAC process had already started and the entities were moving forward with the closing processes of the transaction. The transaction could open up considerable opportunities for Virogenetics since it would help the company make its technology more advanced, work on the development of new technology, and grow its fast-growing nutraceutical line of products.
As an entity, Biogenysis is involved in making an impact in the world of drug discovery through the deployment of advanced artificial intelligence technology. The artificial intelligence platform for the company is constantly being fine-tuned with disruptive innovations to cater to the evolving demands of the healthcare sector. Enzolytics has managed to come up with a well-thought-out strategy as well as the requisite technology, which could produce a number of therapeutics for treating a range of viral infections across the world.
The transaction with Sagaliam came at an important time in the company’s journey. The extra funding for the two subsidiary units would help finance the final phase of the development of the range of therapeutics that are under development.
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