10 Best Get Rich Quick Stocks To Invest In

2. Fitell Corporation (NASDAQ:FTEL)

Current Share Price as of February 19: $1.10

Stock Beta Rating: 6.07

Number of Hedge Fund Holders: N/A

Fitell Corporation (NASDAQ:FTEL) is a specialty retailer that operates as an online gym and fitness equipment retailer for personal training studios. It markets and sells fitness equipment, including home gym and commercial strength-training equipment. The Australian online retailer has moved to strengthen its financial position by raising $4 million in gross proceeds and prospects of an additional $6 million in a registered direct offering.

The significant capital injection leaves Fitell in a solid financial position to develop and launch smart fitness equipment. Fitell Corporation (NASDAQ:FTEL) is also eyeing strategic business and technology acquisitions to further strengthen its long-term prospects and growth metrics. The development of smart fitness equipment is a strategic focus that marks a significant change from traditional retail to higher-margin, tech-enabled products. This change could significantly strengthen the company’s competitive position in the Australian fitness market, where connected fitness solutions are becoming more popular.

Despite the market’s slow recovery, Fitell Corporation (NASDAQ:FTEL) is positioning itself to ramp up operations once Australia’s fitness and wellness sector recovers. When favourable opportunities are found, Fitell anticipates continuing to grow its licensing business service in the Asian market. Two- to three-year growth plans call for creating cardio equipment under proprietary or private labels to boost profit margins.