Why Visionary Holdings Inc. (GV) Soared Last Week

We recently compiled a list of the 10 Micro-, Small-Cap Firms Were Last Week’s Top Performers. In this article, we are going to take a look at where Visionary Holdings Inc. (NASDAQ:GV) stands against the other stocks.

Micro- and small-cap companies dominated the stock market last week, clocking in impressive gains on the back of a flurry of catalysts that boosted investing appetite.

We named last week’s top 10 performers that outperformed the Russell 2000 index, which dropped by 4.04 percent week-on-week. Among them, one firm particularly stood out with its outstanding 317-percent jump, thanks to a $1-billion deal that could fuel its growth prospects.

To come up with the list, we considered the stocks with the highest week-on-week change, comparing their share prices on March 7 and February 28.

We classified micro-cap companies as those with a market capitalization below $300 million and small-cap firms as those with a market capitalization below $2 billion.

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Visionary Holdings Inc. (NASDAQ:GV)

Visionary Holdings Inc. (NASDAQ:GV) soared further on Friday to clock in a 317-percent jump in share price week-on-week at $6.05 apiece versus $1.45 on February 28.

The performance followed news that it reached a $1-billion financing consent letter with the Alfardan Group of Qatar to accelerate research, development, and global expansion of its PEGASUS new energy vehicles.

While details of the financing were not divulged, investors took heart on the recently clinched financing’s potential to support and bolster the company’s business growth.

In the past three trading days alone, Visionary Holdings Inc. (NASDAQ:GV)’s stock price already surged by 260 percent.

Headquartered in Toronto, Visionary Holdings Inc. (NASDAQ:GV) recently announced that it officially launched PEGASUS and that it aims for the latter to be the number one brand in the automotive industry ecosystem of an independently developed brand in Canada.

Overall GV ranks 1st on our list of last week’s top performers. While we acknowledge the potential of GV 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 more promising than GV 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 Complete List of 59 AI Companies Under $2 Billion in Market Cap

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