Micro Cap Outperforms Broader Market Following H1 Revenue Results

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, October 1, 2024

A Chinese metals company is making major waves on Tuesday after the company reported a year-over-year increase in H1 revenue results.

Following the release, traders rushed to snatch up shares of ZK International Group Co. Ltd (Nasdaq:ZKIN), pushing shares of this micro cap up to $0.5931/share (+15.19%) at the early session high. This was an impressive feat given the broader markets have been experiencing a selloff at the time of writing.

ZK International Group Co Ltd is engaged in the manufacture and marketing of metal pipes. The company is specialized in producing double-press thin-walled stainless steel tube and fittings, carbon steel tube and fittings, single-press tube and fittings, and stainless-steel strip. The products are used in restaurants, hotel, hospital, firefighting, food, beverage, ship, engine, industrial seawater desalination and systems of direct-drinking water, cold /hot water supply, city water supply, gas of large/middle scale construction projects.

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Tuesday's technical standout looks to be Oxford Nanopore, which is displaying a Golden Cross (50 DMA / 200 DMA) with today’s move to $2.20.

Tuesday's hottest penny Stock on the Canadian Securities Exchange was Northern Lights Resources Corp., which gained 100.00%, closing the day at $0.01.

Trading on the Nasdaq, Paranovus Entertainment Technology Ltd. rallied 93.33%, closing at $0.93 on Tuesday.

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