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Watchlist Alert: Nasdaq Stocks Under $1 Experience Volume Breakouts: KAVL, BXRX, RMED, SMX

NASDAQ is one of the biggest stock exchanged and not only offers high liquidity but also strong trading volumes. Many stocks on NASDAQ trade under $1 a share and recently there were some which experience a breakout in volume. Here is a look at a few of those.

Kaival Brands Innovations Group Inc (NASDAQ: KAVL) a pioneer in the electronic cigarette industry worldwide, markets and distributes a number of innovative technology solutions and products. The electronic nicotine delivery system or “ENDS” from BIDI Vapor, the BIDI® Stick in the US markets and VEEBA, virtually a duplicate of BIDI® Stick, distributed internationally through a strategic alliance with Philip Morris (NYSE:PM) are expected to dominate the e-cigarette market worldwide in the future. “VEEBA and BIDI® Stick are science-based, premium, responsible, recyclable and disposable devices, developed specifically for use by adult smokers and existing adult nicotine users who are looking for a better alternative to continued smoking."

Kaival Brands Innovations Group Inc came into focus on June 15 after it announced that it had sent an initial shipment of BIDI Stick to 900 Mapco and Kwik Trip outlets. The company intends to take that number to 1200 this year. Out of those, more than 900 locations would be Kwik Trip outlets.

The announcement came a day after Kaival Brands had announced that it had made a shipment of BIDI Stick to more than 1000 Circle K locations. The company is planning to expand the number of locations to 5000 through the rest of the year. The expansion would be mainly focussed on the Midwest and South Atlantic areas in the United States.

Baudax Bio Inc (NASDAQ:BXRX) - The stock experienced a strong breakout recently and that led to a remarkable rally of 100% following a period of consolidation. The rally came about after Baudax Bio Inc confirmed the acquisition of Teralmmune.

The company is involved in providing innovative products for acute settings. The acquisition would help the company in gaining access to cell therapies based on Treg, which would help in targeting autoimmune diseases. Additionally, it would also provide the company with access to high-class scientific expertise to pursue a range of clinical development programs.

The confirmation of the acquisition came up around a month after Baudax Bio announced positive top-line results from the Phase 2 randomized clinical trial of its product BX1000. The product is a novel treatment being developed for neuromuscular blockade among people who undergo elective surgery.

Ra Medical Systems Inc (NASDAQ:RMED) - In Monday's trading session, the stock was in action as it went up as much as 23.91% to an intraday high of $1.14. Moreover, the total volume was 8.7 million shares - 40X its 60-day average volume.

On July 3, Ra Medical Systems Inc announced that it had decided to make a concerted effort to expand its distribution outside the United States market. The company announced last week that it had filed for CE Mark for its product LockeT, a medical device meant for helping in the closure of percutaneous puncture sites. The company's move to expand its distribution footprint was a reflection of its anticipation of the receipt of the CE Mark. Ra Medical Systems expects the receipt of the CE Mark by the third fiscal quarter. 

The company had recently gone into a distribution agreement with Medilynq for the distribution of its products in the Middle East. Some of the countries where its products are going to be distributed include the UAE, Qatar, Jordan, Kuwait, Saudi Arabia, and Oman. The company also started working with a new Spain-based distributor Bioline. Additionally, it also attended a trade show in Spain where its products were exhibited.

SMX Plc (NASDAQ:SMX) - The company is currently involved in providing its clients with transformative supply chain network services which help in increased efficiencies. It manages to do that through superior tracing, tracking, and measuring. It has proprietary technologies and allows its clients to view the entire history and composition of the relevant raw materials. A client can view the origin of the raw materials through to the final materials and also get to know when those materials are recycled.

These tracking and tracing technologies have not only become a major pillar of better management of manufacturing processes but also help with ESG (environmental, social, and governance) issues. Due to its proprietary technologies, it has been possible for SMX to emerge as the leader in this niche industry. Its technologies also help with better recycling.



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