Penny Stock Momentum List: CAVR, MRES, AITX, GEGI

There are several factors that investors look into when they decide to track a stock, and one of those major factors is momentum. If a stock gains strong momentum, there is a possibility of the trend continuing, and an investor can make profits in the short term. There have been some penny stocks that managed to gain strong momentum in recent days, and it could be a good move to consider taking a closer look at those. Here is a look at four such companies:

ParagonX Holdings (OTC:CAVR)

CAVR operates as a vertically integrated platform company, focusing on the development of lifestyle brands. ParagonX, a subsidiary of CAVR, specializes in acquiring, developing, and creating products and companies with strong brands. These brands aim to enhance people’s lives and deliver above-average investment returns.

ParagonX Holdings identifies undervalued businesses with revenue-generating assets and works on increasing their value through effective management and strategic execution. The goal is to transform these businesses into robust lifestyle brands.

Currently, ParagonX Holdings is involved in various industries, including real estate services, technology, travel and entertainment, education, and health and wellness.

On July 11, CAVR made significant announcements regarding three new acquisitions. ParagonX Holdings successfully completed the acquisitions of Ruhl Construction, Precision Project Management, and Asher Homes without any dilution of its stock. Notably, historical performance suggests that these acquisitions could add over $60 million in annual revenues and more than $8 million in EBITDA to the company.

The acquired companies are engaged in multi-state home and land development and are based in Tulsa, Oklahoma. They have a strong reputation for the quality and design of their properties. In 2022, these companies generated a combined unaudited revenue of $48 million, and their performance remains robust this year.

Daniel Ruhl, President of Ruhl Construction and Asher Homes, expressed excitement about entering the public space after building successful businesses in the private sector. He looks forward to working with the team to expand further.

In addition, ParagonX Holdings announced that Kevin V. Cox would step down from the position of Chief Executive Officer upon completion of the transactions. Cox accepted the CEO position at SOAAK Technologies, a company that recently acquired RenuYou, a health tech subsidiary of ParagonX Holdings.

The Institute of Biomedical Research Corp. (OTC: MRES) is gaining momentum due to ongoing restructuring efforts aimed at unlocking new growth opportunities. It is a nutraceutical biotechnology company focusing on alternative plant-based CBDs, medical psilocybin, and mental health therapies, leveraging artificial intelligence.

Through the restructuring, MRES aims to deliver innovative solutions and sustainable growth in the biotechnology industry. It also seeks strategic merger and acquisition opportunities to establish itself as a prominent leader in the biotech and phytomedicine sectors.

On June 27, the company announced the signing of a letter of intent for the acquisition of JDAX, a major cryptocurrency platform offering smooth trading, exchange, and secure storage of digital assets. This technologically advanced marketplace provides users with a wide range of cryptocurrencies for trading.

Furthermore, the Institute of Biomedical Research Corp. entered into an agreement with the University of Pretoria and Enterprises University of Pretoria on June 16. The collaboration aims to continue research on plant medicines and explore the applications of machine learning and artificial intelligence in forensic science and drug discovery.

Artificial Intelligence Technology Solutions Inc. (OTC: AITX) specializes in providing artificial intelligence-powered solutions, particularly in the fields of security and concierge services. Its subsidiary, Robotic Assistance Devices Inc., offers the security robot named ROAMEO as a major product.

On July 12, it was announced that Robotic Assistance Devices had partnered with GardaWorld Security Systems. As part of the agreement, GardaWorld’s Canadian customers would have access to Robotic Assistance Devices’ products. The expanded authorized dealer agreement strengthens the marketing of artificial intelligence-powered robots by GardaWorld Security Systems throughout Canada. The President of Robotic Assistance Devices, Mark Folmer, highlighted the company’s focus on innovative security solutions utilizing artificial intelligence.

Genesis Electronics Group, Inc. (OTC: GEGI) has experienced a remarkable surge of over 110% in the past month, signaling a turnaround in its fortunes on Wall Street. Its wholly-owned subsidiary, Glid, specializes in building autonomous road-rail shipping vehicles called gliders. These glider units enable fully-loaded semitrailers to access rails.

The recent success can be attributed to the company’s manufacturing partnership with Bart Manufacturing, a collaboration aimed at building the patent-pending shipping technology Glid units. Production of these all-electric Glid units is set to commence in the summer at Bart’s manufacturing facility in Stockton, California. The initial production of 10 sets of Beta units aims to demonstrate the durability, reliability, and quality of the Glid units.

The banning of new diesel big rigs by 2036 and the requirement for all trucks to have zero emissions by 2042 in California present significant opportunities for Genesis Electronics. Glid’s ability to autonomously transport freight from road to rail without emissions positions it as a reliable option for reducing carbon emissions. Additionally, Glid vehicles’ capability to carry 3 to 4 times the weight of an average trailer makes them an ideal solution, allowing Genesis Electronics to capture a significant share of shipping freight that other electric vehicles cannot reach.

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