MicroSmallCap through Comtex, 5 May 2020 — We all know that the technology industry is always changing, and that many investors want to profit from the next breakthrough. That breakthrough is 5G technology, which will be available in 2020. While many large corporations are involved in this transformation, investors should be aware of the various 5G penny stocks accessible. After all, just because they’re low-cost stocks doesn’t imply they’re without promise.
On May 5, four 5G penny stocks are trading higher.
Trading Up: MicroVision, Inc. 5G Penny Stocks (NASDAQ:MVIS)
MicroVision, Inc., based in Redmond, Washington, creates laser scanning technology for 3D sensing, picture capture, and projection. The company is known for not just fueling the 5G revolution, but also for assisting others in working more efficiently throughout it. (5G reduces latency, allowing MicroVision’s services to perform more smoothly).
As of 1:10 p.m. EDT on May 5, MVIS stock is up roughly 47 percent at $1.62. This results in a significant gain early in the trading week, making it one of the top gainers among the 5G penny stocks covered in this article.
We reflect on the company’s fourth-quarter and full-year 2019 results, which were reported in March, as it prepares to report its Q1 2020 earnings this week on May 7. The most notable feature of Q4 2019 was a large increase in revenue, which increased from $1.8 million in the same quarter of 2018 to $4.6 million in 2019. However, revenue for the entire year of 2019 fell from $17.6 million in 2018 to $8.9 million in 2019.
MicroVision recently announced that it had been issued a NASDAQ global market listing deficiency notice. However, keep in mind that this was a notice of inadequacy, not a delisting notification.
Casa Systems, Inc. 5G Penny Stocks (NASDAQ:CASA)
Casa Systems is another firm that has seen its stock price rise on Tuesday, earning it a spot on our list of the day’s top 5G penny stocks.
Casa Systems, based in the United States, is developing innovative ultra-broadband 5G solutions for cable, mobile, fixed, and convergent service providers. Since 2019, the company has collaborated with Sprint on the development of tiny cell technologies. These solutions help with the low bandwidth utilisation required for 5G technology development.
As of 1:20 p.m. EDT on May 5, CASA stock was up 0.35 percent at $4.215.
On April 30, the company announced its financial results for the first quarter of 2020, which included sales of $83.6 million and a gross margin of 51.0 percent. Casa Systems also reported $1.2 million in GAAP net income and $3.7 million in adjusted EBITDA.
“Our success in the first quarter of 2020 exceeded our internal expectations,” stated CEO Jerry Guo. Mr. Guo stated that the company’s successes stemmed from implementing its plan of boosting growth by expanding its addressable market to new companies and boosting its cable subscriber base.
Communications Systems, Inc., Communications Systems, Inc., Communications Systems, Inc., Communications Systems, Inc., Communications Systems, Inc., Communications Systems, Inc., Communications (NASDAQ:JCS)
Communications Systems, Inc., based in Minnetonka, Minnesota, manufactures and distributes connectivity infrastructure products and services for broadband networks in North America through its subsidiaries. It’s also a company that many will likely seek while putting together 5G networks.
JCS stock is up 2.53% to $5.35 as of 12:58 PM EDT on May 5; this is enough to bring it to our list of Tuesday’s 5G penny stocks moving higher.
Communications Systems released its fourth-quarter and year-end financial results in early March. The report’s highlights include a 17.1 percent increase in Q4 consolidated sales from continuing operations to $15.4 million. The quarter’s consolidated operating income from continuing operations was $1.2 million.
ASE Technology Holding Co., Ltd. 5G Penny Stocks (NYSE:ASX)
ASE Technology Holding Co., Ltd. is the last business on the list of Tuesday’s top 5G penny stocks.
ASE Technology Holding, headquartered in Taiwan, is a semiconductor packaging and testing firm as well as an EMS supplier. Apple (NASDAQ:AAPL), a major participant in the technology sector, is said to be considering ASE Technology as a supplier for its mmWave 5G iPhone and iPad antennas, according to sources. Even more incentive to keep a watch on this 5G penny stock is the conjecture.
As of 1:59 p.m. EDT on May 5, the ASX stock was up roughly 1.4 percent at $4.35.
The ASE 2020 results call transcript was released at the end of April, and Ken Hsiang, the Head of Investor Relations, reported a 16 percent drop in consolidated net sales ($97.4 billion) quarter-over-quarter, but a 10% increase year-over-year.
Whether or not you are interested in technological advancements, we must accept that 5G technology is the next big thing in our world. More investors are likely to turn their attention to 5G startups as time goes on. While unpredictable, 5G penny stocks are inexpensive and provide a variety of potential benefits—just make sure you do your homework before making any selections.
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