The small cap and microcap Canadian stocks on our list are flashing signs of higher future share prices
SmallCapPower | January 21, 2021: Positive price momentum combined with a large trading volume increase is a powerful combination, especially for smaller-cap stocks and micro-cap names. Today we have dug down and discovered three sub $100 million market cap Canadian stocks with the best price and volume momentum, which could be a good indicator of more gains ahead.
*Returns are based on closing stock prices as of January 20, 2021
Zenabis Global Inc. (TSX:ZENA) – $0.10
Zenabis Global is a Canadian licensed cultivator of medical and recreational cannabis. The Company has facilities in Atholville, New Brunswick; Langley, British Columbia; and Stellarton, Nova Scotia. Zenabis currently has 111,200 kg of licensed cannabis cultivation space across its Canadian facilities, together with its cannabis import, export and processing joint venture, ZenPharm, operating from Birżebbuġa, Malta. The Company has been selling assets recently to pay off its debt, including the sale of its wholly-owned Bevo Farms subsidiary announced on January 4. ZENA has a 10-day average daily trading volume of 13.7 million shares.
- One-Year Return: 122%
Therma Bright Inc. (TSXV:THRM) – $0.66
Therma Bright is a medical device technology company focused on providing consumers and medical professionals with quality medical devices that address their medical and healthcare needs. The Company received a Class II medical device status from the FDA for its platform technology that is indicated for the relief of the pain, itch, and inflammation of a variety of insect bites or stings. On January 18, Therma Bright announced that it had achieved improved accuracy for its CoviSafe COVID-19 rapid saliva antigen test, indicating a test sensitivity of 86% and a specificity of 100%. THRM has a 10-day average daily trading volume of 11.2 million shares.
- One-Year Return: 222%
Solar Alliance Energy Inc. (TSXV:SOLR) – $0.49
Solar Alliance Energy is an energy solutions provider focused on residential, commercial and industrial solar installations. The Company operates in Tennessee, Kentucky, Illinois, North/South Carolina and California and has an expanding pipeline of solar projects, developing $1 billion of renewable energy projects since the business began in 2003. On January 5, Solar Alliance Energy announced that it signed a binding Letter of Intent for the design and construction of a 56 megawatt solar project located in Illinois. SOLR has a 10-day average daily trading volume of 9.8 million shares.
- One-Year Return: 600%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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