Top 5 Health Care Stocks That Could Blast Off In August
Portfolio Pulse from Lisa Levin
The article lists the top 5 oversold health care stocks that could potentially rise in August. The stocks mentioned are BIOLASE, Inc. (BIOL), G Medical Innovations Holdings Ltd (GMVD), Allarity Therapeutics, Inc. (ALLR), ZyVersa Therapeutics, Inc. (ZVSA), and Penumbra, Inc. (PEN). The stocks are considered oversold as their Relative Strength Index (RSI) is near or below 30.
August 04, 2023 | 3:12 pm
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NEUTRAL IMPACT
Allarity Therapeutics, Inc. entered a Clinical Collaboration Agreement with Detsamma Investments Pty Ltd and its stock fell 6.7% to close at $2.36 on Thursday.
The collaboration agreement could potentially have a positive impact, but the recent drop in price could have a negative impact, making the overall short-term impact neutral.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Penumbra, Inc. reported better-than-expected second-quarter results and its stock fell 5.3% to close at $255.28 on Wednesday.
The better-than-expected results could have a positive impact, but the recent drop in price could have a negative impact, making the overall short-term impact neutral.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
BIOLASE, Inc. reported a 1-for-100 reverse stock split and its stock fell 7.4% to close at $4.73 on Thursday.
The reverse stock split and the recent drop in price could negatively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
G Medical Innovations Holdings Ltd's stock dipped 44% over the past month and fell 6.8% to close at $0.2110 on Thursday.
The significant dip in the stock price over the past month could negatively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
ZyVersa Therapeutics, Inc. reported pricing of $2.1 million public offering of shares and warrants and its stock fell 5.9% to close at $0.1599 on Thursday.
The public offering could dilute the stock's value, and the recent drop in price could negatively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100