10 Micro-, Small-Cap Firms Were Last Week’s Top Performers

5. QMMM Holdings Limited (NASDAQ:QMMM)

QMMM Holdings soared by 60 percent week-on-week to end Friday’s trading at $1.47 each from the $0.9150 close on February 28 as investors gobbled up shares in the company following a notification from Nasdaq that it fell below the $1 bid price requirement to remain listed on the stock exchange.

According to a statement released on February 28, QMMM was given 180 calendar days to regain compliance with the minimum bid price or face delisting.

“The company is currently evaluating options to regain compliance and intends to regain timely compliance with Nasdaq’s continued listing requirement. Although the company will use all reasonable efforts to achieve compliance…, there can be no assurance that the company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq continued listing requirements,” it said.

While the bargain-hunt of stocks in QMMM helped propel the stock price back to the $1 territory, it can only be considered a bandaid solution, as a potential sell-off could still pull its price back down.