Why Integrated Media Technology (IMTE) Skyrocketed on Monday?

We recently compiled a list of the 10 Small Firms Kick Off Monday with Strong Gains. In this article, we are going to take a look at where Integrated Media Technology Limited (NASDAQ:IMTE) stands against the other stocks with strong gains.

Wall Street’s main indices kicked off Monday’s trading with a strong finish, ending in the green territory as investors hoped President Donald Trump would dial back on his wide-ranging tariff plans to allow the US to skirt an economic slowdown.

The Nasdaq posted the largest gain, up 2.27 percent, followed by the S&P 500, up 1.76 percent, and the Dow Jones, at 1.42 percent.

Ten companies under the micro- and small-cap sectors mirrored the broader market optimism, registering double- to triple-digit gains at intra-day trading. In this article, let us explore the reasons behind their gains.

To come up with the list, we considered only the stocks with the highest gains in terms of percentage change.

A business executive confidently presenting a financial research report to a boardroom.

Integrated Media Technology Limited (NASDAQ:IMTE)

Integrated Media Technology Limited (NASDAQ:IMTE) surged by 312.96 percent at intra-day trading on Monday before early profit-taking occurred to pull the company just up by 197.45 percent at $2.1 apiece, as investors resorted to bargain-hunting after touching a new 52-week low on Friday.

Additionally, the bargain-hunting propelled the company’s stock price back above the $1 minimum bid price requirement of the Nasdaq stock exchange, having traded below the said level for two consecutive days last week.

According to InvestingPro, the company is currently assigned a “weak” financial health score, having recorded -$19.35 million EBITDA, an alarming gross profit margin of -920.2 percent, and a debt burden of $11.78 million.

Integrated Media (NASDAQ:IMTE) is a technology investment, product development, and distribution company based in Australia, which mainly engages in manufacturing and selling nano-coated plates for filters, electronic glass, Halal products, and energy products and services.

Overall, IMTE ranks 2nd on our list of  small firms kick off Monday with strong gains. While we acknowledge the potential of IMTE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as IMTE but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.