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We recently compiled a list of the 10 Micro-, Small-Cap Firms Were Last Week's Top Performers. In this article, we are going to take a look at where QMMM Holdings Limited (NASDAQ:QMMM) stands against the other stocks.
Micro- and small-cap companies dominated the stock market last week, clocking in impressive gains on the back of a flurry of catalysts that boosted investing appetite.
We named last week’s top 10 performers that outperformed the Russell 2000 index, which dropped by 4.04 percent week-on-week. Among them, one firm particularly stood out with its outstanding 317-percent jump, thanks to a $1-billion deal that could fuel its growth prospects.
To come up with the list, we considered the stocks with the highest week-on-week change, comparing their share prices on March 7 and February 28.
We classified micro-cap companies as those with a market capitalization below $300 million and small-cap firms as those with a market capitalization below $2 billion.
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QMMM Holdings Limited (NASDAQ:QMMM)
QMMM Holdings Limited (NASDAQ:QMMM) soared by 60 percent week-on-week to end Friday’s trading at $1.47 each from the $0.9150 close on February 28 as investors gobbled up shares in the company following a notification from Nasdaq that it fell below the $1 bid price requirement to remain listed on the stock exchange.
According to a statement released on February 28, QMMM Holdings Limited (NASDAQ:QMMM) was given 180 calendar days to regain compliance with the minimum bid price or face delisting.
“The company is currently evaluating options to regain compliance and intends to regain timely compliance with Nasdaq's continued listing requirement. Although the company will use all reasonable efforts to achieve compliance…, there can be no assurance that the company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq continued listing requirements,” it said.
While the bargain-hunt of stocks in QMMM Holdings Limited (NASDAQ:QMMM) helped propel the stock price back to the $1 territory, it can only be considered a bandaid solution, as a potential sell-off could still pull its price back down.
Overall QMMM ranks 5th on our list of last week's top performers. While we acknowledge the potential of QMMM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than QMMM but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.