Here’s a ranking of the five best-performing stocks in March – as well as an overview of the news driving each company’s buying frenzy…
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No. 5: Moxian Inc. (MOXC)
Shares of Moxian, a Chinese social networking platform, rocketed 73.3% from $0.45 on Feb. 28 to $0.78 as of the March 7 close. The stock experienced peak gains during mid-morning trading on Wednesday, March 6 when it topped out at a five-month high of $0.84 a share.
While no big news from the past week is responsible for pushing MOXC higher, shares of the social media company still appear to be riding on momentum from the Jan. 18 news that it would partner with Fujian Sihe Media Co. Ltd., one of China’s largest marketing firms whose clients include big-name media companies like Tencent Holding (TCEHY) and Activision Blizzard Inc. (ATVI). The partnership, which allows Moxian to develop new data platforms around Fujian Sihe client products, pushed shares to a close of $0.79 on Jan. 25, the highest settlement since Oct. 9.
No. 4: TDH Holdings Inc. (PETZ)
TDH Holdings, a producer of pet food products, has been on a tear over the last week, as shares climbed 96% from $0.50 on Feb. 28 to $0.98 on March 7. The stock climbed more than 36% on March 5 alone, closing at a more than three-month high of $1.09. Year-to-date, PETZ has climbed 78.2% from $0.55 to $0.98.
The stock was one of the Nasdaq Composite’s top gainers on March 5 due to an unexpectedly sharp increase in trading volume. That day, volume soared to 14.47 million shares, which was more than 32 times the average daily volume of 447,053. Investors typically move into a low-volume stock when shares have been trading at a heavy discount. Near the tail end of February, PETZ traded near all-time lows of $0.50 per share.
No. 3: China Internet Nationwide Financial Services Inc. (CIFS)
China Internet Nationwide Financial Services was the third-best performer of March’s first week. Shares of the financial advisory firm vaulted 98.7% between Feb. 28 and March 7 as they climbed from $2.24 to $4.45. They hit a nearly five-month high of $4.96 on March 4, and investors who bought the stock at the start of the year and held on have now reaped an enormous 384% return.
The recent rally came on the heels of a strong earnings report, which reflected year-over-year revenue growth of 43% and earnings per share (EPS) growth of more than 90%. The exceptional financials urged investors to pour into the stock, whose volume spiked by more than 980% above average daily volume on March 4.
No. 2: JMU Limited (JMU)
JMU Limited, an e-commerce firm dedicated to the catering industry, saw shares skyrocket 167% over the last week’s worth of trading sessions. The stock ran from $1.03 to $2.75 per share, touching a more than eight-month high of $3.52 on March 4. Shares are now up 293% this year from $0.70 on Dec. 31 to $2.75 on March 7.
As with Moxian, there appears to be no specific news that moved JMU stock higher this past week. The rally likely chalks up to another buy-the-dip scenario in which market participants noticed the company’s discounted shares and scooped them up in hordes. Before March 4, JMU stock was flat-lining near record lows in the $0.70 range.
No. 1: Bio-Path Holdings Inc. (BPTH)
The top gainer of March so far is Bio-Path Holdings, an oncology-focused drug developer based in Texas. Shares of BPTH exploded a whopping 1,395% from $2.60 on Feb. 28 to $38.86 on March 7. For context on just how enormous that is, BPTH gained more than 223% on March 7 alone, rising from $12.02 to $38.86.
As with most biotech companies, the rally came on the heels of an overwhelmingly successful drug trial. Bio-Path updated investors on the Phase 2 trial for its leukemia treatment and stated that 11 of the 17 patients who used its prexigebersen drug responded to the treatment. This represented a large improvement from prior results, which galvanized investors to push the stock to insane highs this past week.
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