NASDAQ Stocks Gaining Momentum Below $1: VVPR, FFIE, VTGN, IDEX

February 02, 2023 at 05:00 AM EST

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Investing in stocks priced under $1 on the NASDAQ has the potential to be a profitable venture for investors. The market attracts a lot of attention from investors because it has the potential for a high return on investment and a low barrier to entry.

Finding the right stock at the right time is crucial to stock market success. Timing is everything, and it can make or break the success of a potential play in the market. In this article, we'll look at four stocks that have been gaining momentum as of late.

Each of these four stocks are currently trading on the NASDAQ for under $1; savvy investors should consider adding these stocks to their watchlists.

VivoPower International PLC (NASDAQ: VVPR) In the past week, VVPR has been one of the more notable movers, having clocked gains of 118% in the period.

VivoPower is a global sustainable energy company specializing in electrical solutions for ruggedized and custom-built fleet applications, microgrids, batteries, critical power, and solar power. The company is mainly involved in providing turnkey decarbonization products that help in moving towards net-zero carbon status.

On January 13, the business disclosed the signing of a Design Services Agreement for the LandCruiser 70 series with Toyota Australia between its wholly owned subsidiary Tembo and Toyota Motor Corporation Australia Limited. VivoPower and Toyota Australia will continue to look for opportunities that promote a more sustainable future.

VVPR and its wholly owned subsidiary unit, Tembo EV Australia Pty Ltd, announced a supply agreement with Evolution Group Holdings Limited on November 14 of last year. The agreement concerned the complete electrification of light utility vehicles for fleet and traffic management.

VivoPower CEO, Gary Challinor, commented, "We are looking forward to working closely with Evolution, not only to provide conversion EV powertrain kits, ruggedization, and customization, but also importantly to deliver training and change management, as well as complementary sustainable energy solutions."

He also revealed some company expansion plans, saying, "Tembo is currently evaluating options and in discussions with financiers for establishing assembly facilities in Australia, with South East Queensland being a preferred location."

Faraday Future Intelligent Electric Inc (NASDAQ: FFIE) - The electric vehicle industry is growing rapidly, and Faraday Future Intelligent Electric Inc. operates in a niche segment of the market—the one dedicated to luxury electric vehicles.

The company is also committed to continuous improvement in order to establish a sophisticated ecosystem that includes clean energy. On January 17, the company announced that it had signed an amended and restated shareholder agreement with FF Top LLC, a wholly owned subsidiary of FF Global Partners LLC.

Faraday Future also entered into a non-binding Cooperation Framework Agreement with the China Huanggang Government to promote dual-home market initiatives in the US and China.

The company also had a shakeup at the top of its management structure near the end of last year when it appointed two new members to its board of directors. Ke Sun and Xuefeng, the organization's global CEO, were both added to the board of the business. The appointments took effect on December 27, 2022, despite the announcement being made on December 29, 2022.

Vistagen (NASDAQ: VTGN) is a late-stage biopharmaceutical firm. Vistagen is best known for working on treatments to transform the way people living with depression, anxiety, and other CNS issues are treated.

The company is trying to promote such treatments that not only act faster but also produce fewer safety issues and side effects. The business claims to be redefining how depression and anxiety disorders are treated.

On January 24, Vistagen made headlines when it revealed that it had signed the first group of volunteers for the country's Phase 1 study of one of its products. The medication is phenethylamine nasal spray PH10, an investigational therapy for major depressive disorder. The study's main goal is to evaluate the product's safety and tolerability.

The company got the "study may proceed" notification from the United States Food and Drug Administration last November, and earlier this month the company announced that it was going to begin the trial in the first quarter. The FDA also awarded the product a fast-track designation in December 2022. Three clinical studies carried out in Mexico confirmed the positive safety profile of PH10.

Ideanomics (NASDAQ: IDEX) Ideanomics has grown its company with a fairly straightforward but broad vision: to hasten the commercial adoption of electric vehicles. IDEX is working to usher in that era by creating an ecosystem of vehicles, charging technology, financial support, design, and implementation.

According to a morning press release from Ideanomics, Macy Neshati and Robin Mackie have been appointed Chief Operating Officer and Chief Commercial Officer, respectively. Both of those appointments were immediately effective.

Ideanomics created a stir last week when it revealed that it had successfully acquired VIA Motors, a producer of all-electric commercial vehicles. According to the press release, VIA's value is rooted in its VDRIVEelectric skateboard and VTRUXmodular vehicle portfolio. These platforms have been designed from the ground up to meet the needs of commercial fleet operators and drivers.

VIA will offer a full range of fit-for-purpose configurations with its chassis cab, including last-mile delivery vans, box and stake trucks, school buses and shuttles, and more.

"Our acquisition of VIA Motors brings significant revenue generation potential to Ideanomics and its shareholders," says Ideanomics Executive Chairman, Shane McMahon. "We cannot be more thrilled to welcome VIA to Ideanomics."

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