Why Basel Medical Group Ltd (BMGL) Surged Last Week

We recently published a list of Small Stocks, But Explosive: These 10 Firms Crushed The Market Last Week. In this article, we are going to take a look at where Basel Medical Group Ltd (NASDAQ:BMGL) stands against other firms that led last week’s charge.

Basel Medical Group soared by 344 percent week-on-week as investors were encouraged by the company’s reaffirmation of its strong financial position despite the recent drop in its share prices.

In a statement, Basel Medical Group Ltd (NASDAQ:BMGL) CEO Darren Chhoa addressed concerns in relation to the company’s share prices, assuring shareholders that the fundamentals remain strong and resilient.

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“Our financial performance continues to be robust, with our subsidiaries winning new sizable contracts, particularly in the supply chain, and we remain on track with our acquisition growth strategy,” he said.

“We believe that the recent share price decline does not reflect the intrinsic value of our business nor the solid progress we’ve made. BMGL has consistently demonstrated strong operational execution, disciplined capital management, and a commitment to delivering sustainable value for shareholders,” he added.

Following the announcement, shares of Basel Medical Group Ltd (NASDAQ:BMGL) jumped by 484.61 percent on Friday versus its closing price on Thursday.

Overall, BMGL ranks 3rd on our list of firms that led last week’s charge. While we acknowledge the potential of BMGL, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BMGL and that has 100x upside potential, check out our report about this cheapest AI stock.

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