Double Digit NASDAQ Stock Winners: SGOC, STMP, TBLT
10:13 am Tuesday, July 13th, 2021
Following are major stock gainers on Nasdaq in Friday ‘s trading session:
SGOCO Group, Ltd. (NASDAQ:SGOC) was the active stock gainer on Friday . SGOCO Group is a penny stock that manufactures phase change storage systems, among other items. Headquartered in Hong Kong, the company now has a market cap of over $1 billion but only $4 million in 2020 revenue, $3 million in cash on its balance sheet, and is currently unprofitable.
Right now, it is unclear who is behind this large trading volume, but there was high demand for SGOCO Group shares today that caused the stock to skyrocket, and it wasn’t because the company’s fundamentals changed.
Stamps.com Inc. (NASDAQ:STMP) was another notable winner as the stock went up 64% to end the session at $324.23. On Friday, Stamps.com and Thoma Bravo announced a $6.6 billion cash deal in which the online postage company agreed to be acquired by the private equity firm. Pitney Bowes is a 100-year-old shipping company, best known for its classic postage meters. But in recent years it has shifted to digital shipping services, including customer information management and mailings for e-commerce. It made that shift, in part, due to the disruption in the business by Stamps.com.
ToughBuilt Industries, Inc. (NASDAQ:TBLT) surged 46% to $1.05. The company announced that it has entered into securities purchase agreements with certain institutional investors for the issuance and sale of 46,029,920 shares of common stock and warrants to purchase up to 23,014,960 shares of common stock, at a purchase price of $0.869 per share and accompanying warrant in a registered direct offering priced at-the-market under Nasdaq rules.
