Investors are on the hunt for undervalued, underfollowed and emerging stocks, and retail traders have countless methods at their disposal to uncover new information.
For some, this may be overwhelming.
Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks each week that are just under the surface and warrant attention.
The index layers editorial commentary to help make sense of why these stocks should be of interest and whether investors and casual readers should watch them.
Here is a look at the Benzinga Stock Whisper Index for the week of June 23, 2023.
U Power Ltd UCAR: The automotive company saw shares rocket higher recently on news from China. The country announced a new $72.4 billion package of tax breaks that apply to green energy vehicles and electric vehicles, which could benefit U Power.
Shares have been volatile since a March IPO offered 2.5 million shares at $6 each. Shares have traded between $2.98 and $75 since going public, hitting highs shortly after their debut. U Power shares are up 92% in the past month.
Trxade Health MEDS: The health service IT company saw shares rocket higher this week on news of a reverse stock split. The split calls for shareholders to get one share for every 15 shares they own.
Shares were halted Thursday after the reverse stock split shrunk the number of outstanding shares making the stock a low float stock. Higher trading volume came in on the stock.
Shares of TRxADE are up 53% in the last month and up 65% year-to-date.
VIC Global Ltd VCIG: The business strategy company saw shares move higher this week on news related to artificial intelligence.
The company announced it will distribute an AI-based “socializer messenger” for Cogia GmbH. “Socializer messenger” is a military-grade communication that uses artificial intelligence and provides full data encryption and privacy protection. VIC Global will be the exclusive distributorship for Cogia.
“The (distributorship) will open up, yet another revenue stream for us which will undoubtedly increase VCI Global’s value,” VCI Global CEO Victor Hoo said.
Related Link: Bitcoin Returns To Greed Territory After Crossing $30K Mark
Root Inc ROOT: The car insurance company saw shares move higher after news of a proposed takeover bid broke from a Wall Street Journal report. The report said Embedded Insurance has offered to acquire the company for $19.34, which was significantly higher than the $6 to $7 range the stock was trading in prior to shares being halted.
Root went public in November 2020 with shares offered at $27 each. Shares are down 48% in the last year. Root shares currently trade at $11.69, which is below the proposed offer. The company has not indicated it will accept a buyout offer at this time.
Marathon Digital Holdings Inc MARA: The cryptocurrency mining company saw shares jump this week, likely related to a surge in the price for Bitcoin BTC/USD and Ethereum ETH/USD. Bitcoin crossed the $30,000 mark for the first time in months.
The stock saw increased interest from Benzinga readers as it is often linked to the cryptocurrency sector. Shares of Marathon Digital are up 28% in the last month and up over 200% year-to-date. Marathon also has a reported 26% of its float short, which could make the stock a short squeeze target for investors.
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Stay tuned for next week’s report, and follow Benzinga Pro for all the latest headlines and top market-moving stories here.
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