Why Neuphoria Therapeutics Inc. (NEUP) Surged on Friday

We recently compiled a list of the 10 Firms Defy Market Pessimism. In this article, we are going to take a look at where Neuphoria Therapeutics Inc. (NASDAQ:NEUP) stands against the other firms.

Ten companies finished firmer on Friday, bucking an overall market pessimism, over a series of catalysts sparking buying appetite.

Wall Street’s main indices all finished in the red territory, with the Dow Jones down by 0.32 percent, the S&P 500 dropped 0.29 percent, and the Nasdaq down 0.50 percent.

In this article, let’s take a look at which companies defied broader market pessimism and explore the reasons behind their growth.

Friday’s top advancers only considered the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A close up of a lab technician in a protective suit, working with cells in a petri dish to develop innovative therapeutics for immune-related diseases.

Neuphoria Therapeutics Inc. (NASDAQ:NEUP)

Neuphoria Therapeutics Inc. (NASDAQ:NEUP) saw its share prices jump by 25.79 percent on Friday to end at $4.39 apiece as investors resorted to bargain-hunting to take advantage of the company’s cheap valuations, as it nears a 52-week low.

In the news, Neuphoria Therapeutics recently regained compliance with the Nasdaq’s minimum bid price requirement, having flagged for falling below the requirement.

In July 2024, the company received a deficiency letter from Nasdaq due to its American Depositary Shares not meeting the $1 minimum bid price over a 30-day period.

The issue is now resolved and the matter is considered closed—a development significant for Neuphoria Therapeutics as falling below the minimum requirement threatens itself from maintaining a position on the stock exchange.

Overall NEUP ranks 1st on our list of the firms that defy market pessimism. While we acknowledge the potential of NEUP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NEUP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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