5 Special Situation Penny Stocks With Near Term Catalysts

In this piece, we will take a look at five special situation penny stocks to consider. If you want to find out about what’s happening in the market today, head on over to 10 Special Situation Penny Stocks to Consider.

6. Kubient, Inc. (NASDAQ:KBNT)

Number of Hedge Fund Investors In Q1 2023: 2

Kubient, Inc. (NASDAQ:KBNT) is a software company headquartered in New York, New York. It enables publishers and advertisers to connect with each other. The firm announced in March 2023 that it will merge with an advertising company.

By the end of this year’s first quarter, two of the 943 hedge funds part of Insider Monkey’s database had bought a stake in  Kubient, Inc. (NASDAQ:KBNT). The firm’s largest investor is Jim Simons’ Renaissance Technologies with a $29,000 investment.

7. Recruiter.com Group, Inc. (NASDAQ:RCRT)

Number of Hedge Fund Investors In Q1 2023: 1

Recruiter.com Group, Inc. (NASDAQ:RCRT) is a staffing company operating out of New York. The firm, as the name suggests, enables recruiters, staffing personnel, and employers to connect with each other. Recruiter.com Group, Inc. (NASDAQ:RCRT) is slated to acquire a financial technology firm later this year.

Only one of the 943 hedge funds profiled by Insider Monkey had bought Recruiter.com Group, Inc. (NASDAQ:RCRT)’s shares during Q1 2023. This lone investor is Jim Simons’ Renaissance Technologies which owns $6,000 worth of shares.

8. Adamas One Corp. (NASDAQ:JEWL)

Number of Hedge Fund Investors In Q1 2023: 1

Adamas One Corp. (NASDAQ:JEWL) is a diamond company that provides diamonds for both industrial and personal use. It bought a minority stake in an artificial intelligence firm in May 2023.

As of March 2023, one of the 943 hedge fund portfolios studied by Insider Monkey had invested in Adamas One Corp. (NASDAQ:JEWL).

9. Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL)

Number of Hedge Fund Investors In Q1 2023: 1

Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL) is an electronic cigarette firm based in Florida. It acquired a ton of patents related to vaping products in May 2023.

Insider Monkey took a look at 943 hedge funds for their Q1 2023 shareholdings and discovered that one had bought Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL)’s shares. This lone investor is Israel Englander’s Millennium Management which owns $12,000 worth of shares.

10. DSS, Inc. (NYSE:DSS)

Number of Hedge Fund Investors In Q1 2023: 1

DSS, Inc. (NYSE American: DSS) is a multinational company that has captured the attention of investors seeking exponential growth opportunities. With a clear vision in mind, DSS aims to identify and acquire companies with strong growth potential, leveraging its operational and management expertise to enhance profitability and shareholder value with a unique strategy of unlocking that value through the periodic spinoff of subsidiaries directly to DSS shareholders. In the very near term, DSS is spinning off their biotechnology subsidiary, Impact Biomedical (IBIO) to DSS shareholders of record on June 30 for the distribution on June 14 of 4 shares of IBIO for every 1 share of DSS.  DSS possesses key competitive advantages, including a global capital network, a rich international sales and distribution network, central capital and management support, and strong alignment of shareholder interests through the founder’s significant ownership. As of January 13, 2023, DSS has a market capitalization of $31.7 million, with a stock price of $0.228 per share. The company recently reported impressive financial results for the first quarter of 2023, showcasing impressive revenue growth and improvements in operating loss, cost of revenue, and total expenses. With their continued focus on spinning off key assets into IPOs and driving growth in diversified sectors, DSS presents an intriguing investment opportunity for those seeking long-term value creation and additional future equity ownership in additional spin offs.

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