Nasdaq Stocks Soaring to the Top with Strategic Splits: NVDA, INBS, JAGX, SINT, GWAV

June 04, 2024 at 16:40 PM EDT

Investor interest shifting towards certain companies in the coming days due to recent developments. This article highlights five companies poised to attract attention.

Nvidia Inc (NASDAQ: NVDA) will execute a stock split at the market's close on Friday, June 7, 2024. If you were a shareholder of record holding common stock as of the market's close on Thursday, June 6, you will receive an additional nine shares of NVDA for each share you previously held. This marks the sixth forward stock split in the company's history. Nvidia's strong financials and approaching $3 trillion market cap could surpass Apple Inc. (NASDAQ: AAPL), whose market cap surged after their last stock split.

Intelligent Bio Solutions Inc. (NASDAQ: INBS) experienced significant growth, providing innovative, rapid, non-invasive drug testing solutions to over 400 customers across 15+ industries in the UK. In the nine months ending March 31, 2024, revenue reached approximately $2.38 million, marking a 193% year-over-year increase, with the UK contributing around 93%. High-margin cartridge sales accounted for about 49% of total revenue. Over the 12 months ending March 31, 2024, the company acquired 111 new accounts. The successful adoption in the UK suggests promising potential for Intelligent Bio Solutions in the US, pending its planned FDA 510(k) submission and anticipated product launch in early 2025. The stock price surged to an intraday high 11.70 and a closing high of $6.77 in February 2024 following their stock split on January 29, 2024.

Jaguar Health Inc (NASDAQ: JAGX) after a stock split on May 23, 2024, the company announced on May 29 that it had signed an out-licensing agreement with its joint venture firm Magdalena Biosciences Inc. This joint venture, formed with Filament Health Corp, focuses on developing unique, natural prescription plant-derived medicines for mental health issues. Jaguar Health revealed that the collaboration's scope had expanded to include the development of a prescription botanical drug candidate for treating schizophrenia. The news release highlighted that, according to the agreement, the company would also receive royalties from sales in the United States schizophrenia market, which could reach a valuation of $8.06 billion by 2030.

SINTX Technologies Inc (NASDAQ: SINT), after a stock split on May 23, 2024, this manufacturer and developer of advanced ceramic materials and related technologies, was in the spotlight on May 29 following a significant announcement. SINTX Technologies revealed that it had entered into a 5-year strategic agreement with Myosung Co Ltd. Under this agreement, Myosung would represent SINTX Technologies' interests in Korea, focusing on cultivating clients in the technical ceramic products space. The announcement highlighted that SINTX Technologies offers a significantly differentiated and novel product range in the technical ceramics industry. Myosung decided to support the company's Korean expansion after being suitably impressed during previous collaborations.

Greenwave Technology Solutions Inc (NASDAQ: GWAV), a metal recycling company, announced on May 29 that it would implement a reverse stock split. The reverse stock split, effective on May 31, 2024, would be executed at a 1-for-150 ratio. In the news release, the company stated that this move aimed to boost the trading price per share and meet NASDAQ's minimum bid price requirements to remain listed on the exchange. It was also revealed that the stock would begin trading on a split-adjusted basis starting June 3, 2024.

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Nasdaq Stocks Soaring to the Top with Strategic Splits: NVDA, INBS, JAGX, SINT, GWAV

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