Why SAG Holdings Ltd. (SAG) Surged On Thursday?

We recently published a list of 10 Micro-, Small-Cap Firms Dominate Thursday’s Gains. In this article, we are going to take a look at where SAG Holdings Ltd. (NASDAQ:SAG) stands against other micro-, small-cap firms that dominate Thursday’s gains.

The stock market edged lower on Thursday, erasing gains from the previous trading day that was buoyed by the Federal Reserve’s decision to keep rates unchanged.

The tech-heavy Nasdaq decreased by 0.33 percent, the S&P 500 declined by 0.22 percent, and the Dow Jones dipped by 0.03 percent.

On Thursday, investors immediately booked profits following the lack of fresh catalysts to further boost buying appetite.

However, 10 companies under the micro- to small-cap sectors noticeably defied market pessimism, having surged by double to triple digits. In this article, we have identified Thursday’s 10 best performers and detailed the reasons behind their gains.

We classify micro-cap companies as those between $50 million and $300 million in market capitalization, while small-cap firms are those with $300 million and $2 billion in market capitalization.

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SAG Holdings Ltd. (NASDAQ:SAG)

SAG Holdings grew its share prices by 73.33 percent to finish at $1.17 apiece, as investors snapped up shares in the company, successfully pushing its stock price back above the $1 minimum bid price requirement to remain listed on the Nasdaq stock exchange.

While it has yet to receive any formal notification from Nasdaq, the company’s stock price noticeably has been trading below the $1 minimum bid price requirement for 13 consecutive days since March 3, the first trading day of the month.

Companies under the Nasdaq are required to maintain their minimum bid price above the $1 price for 30 consecutive days, otherwise, they could face a potential delisting.

SAG Holdings, through its subsidiaries, distributes and sells automotive and industrial spare parts globally.

At present, it operates in the Asia Pacific, the Middle East, Europe, Africa, and the Americas.

Overall, SAG ranks 3rd on our list of micro-, small-cap firms that dominate Thursday’s gains. While we acknowledge the potential of SAG 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 SAG but 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.