The Monday blues have claimed some but not all today. While a few penny stocks are down, there are a few trending small cap stocks (two, in particular) that have caught our eye. And why? Interestingly enough, neither small cap company seems to have announced anything new, but the stocks are moving higher and higher—as is our interest.
Trending Small Cap Stocks: India Globalization and Jumei International
On Monday, India Globalization and Jumei International entered the green zone, both currently up in the double-digits. The prior, India Globalization, is moving higher than Jumei, up nearly 60%. For that reason, we’ll start there.
India Globalization Capital (NYSEAMERICAN:IGC)
Based in Maryland, India Globalization is a company heavily involved in cannabis. Specifically, India Globalization develops various cannabis-based therapies that help treat a number of conditions, ranging from eating disorders to Alzheimer’s pain.
These cannabis-based combination therapies are also used to treat endpoints of Parkinson’s disease and epilepsy.
This month, the India Globalization stock has soared. On August 21st, the stock increased by roughly 20%. Today, the stock is up nearly 60%—currently trading at $1.12, which means it’s up 57.77%.
There’s no explanation for this increase. Well, there is, but it’s not recent. Although, that could indicate a significant amount of market optimism around the company. Previously, the company disclosed that it will be moving into the California market with Hyalolex.
Jumei International Holding Limited (NYSE:JMEI)
Headquartered in Beijing, Jumei International Holding is an offshore holding company. For the moment, Jumei is focusing on the business of retailing beauty products on the Internet. Despite mostly selling products that come from South Korea and Japan, Jumei also sells European and American products.
Last week, the Jumei International earnings report was released. Highlights included that short-term investments increased significantly in the first half of 2018; this is likely why the stock opened in the way that it did today.
At press time, Jumei International is trading at $1.99, which puts the stock up 21.34%.
Trending small cap stocks come and go and it’s evident why Jumei International is considered one today, but why do you think India Globalization is? Is it solely because of its intended move into the California market?
Let us know what you think in the comments below!
Featured Image: Depositphotos/© kasto