10 Small Firms Kick Off Monday with Strong Gains

3. VivoPower International PLC (NASDAQ:VVPR)

VivoPower soared by as high as 238 percent on Monday before investors took early profits to pull the company’s stock price just up by 149.61 percent to end at $3.22 apiece.

Sentiment was largely buoyed by news on the same day that it received a $120-million unsolicited acquisition proposal from a $1-billion revenue energy company based in Abu Dhabi.

“The board members of VivoPower have acknowledged the receipt of the proposal from Energi and are in the process of reviewing it with its advisors and will provide an update to the market as soon as possible,” the company said.

The news significantly impacted the company’s stock price which has been floating below the $1 minimum bid price requirement of the Nasdaq stock exchange for 28 days in a row.

The Nasdaq issues a notification letter to companies that trade below the minimum bid price requirement for 30 consecutive days. Upon receipt of notification, firms are required to conduct corporate initiatives to boost share prices above the said price, or face a potential delisting.