June 2024 Spotlight Stocks Under 10¢ Amid Recent Developments: CYN, HNRC, PRST, RJDG, SLNA

Getting your Trinity Audio player ready...

With several companies emerging as key players amid recent developments, it can be challenging for investors to monitor all stock movements. This feature offers an in-depth look at five noteworthy companies that investors should keep on their radar right now.

Cyngn Inc. (NASDAQ: CYN) revolutionizes autonomous vehicle industry with groundbreaking AI technology. On June 10, 2024, the company announced the successful deployment of its advanced autonomous driving system in a fleet of industrial vehicles. This cutting-edge AI technology enhances vehicle navigation, reduces downtime, and boosts productivity, marking a significant milestone for the company and the industry. Cyngn’s innovative approach continues to position it as a leader in the autonomous vehicle sector.

Houston Natural Resources (OTC: HNRC) Posts Strong Q1 Financial Results with Revenue and Earnings Growth. In May 2024 the company captured market attention by announcing robust financial results for the fiscal quarter ending March 31, 2024. The oil and natural gas firm reported impressive revenues of $4,292,940, marking a 2.7% increase from $4,178,580 in the same period last year. Total earnings also saw a notable rise, reaching $2,736,961, up 2.8% from $2,660,713 year-on-year. In addition to revenue and earnings growth, Houston Natural Resources Corporation reported a net asset value (NAV) of $0.27 per share for the quarter, underscoring the company’s solid financial position and ongoing potential for investors. This performance highlights the company’s steady upward trajectory in the competitive oil and natural gas sector.

Presto Automation Inc. (NASDAQ: PRST), a leading provider of AI and automation technology in the restaurant industry, announced a major development on June 3. The company revealed its collaboration with Qu and Taco John to launch the Presto Voice drive-thru pilot at select Taco John locations. Presto Voice aims to enhance drive-thru staff productivity by significantly reducing order-taking time.

RJD Green Inc. (OTC: RJDG) Records Landmark Revenue for Silex Holdings Inc. in May 2024. on June 5, 2024, a significant milestone for its business division, Silex Holdings Inc. The company reported its highest monthly revenues since its inception in 2006. In May 2024, Silex Holdings achieved revenues of $865,730 and a net operating profit of $242,404. This remarkable performance constitutes 18.1% of the average annual income of $4.8 million recorded over the past two years. The surge in revenue is attributed to Silex Holdings’ exceptional performance in the commercial market, while also maintaining steady growth in the retail and housing sectors. This robust financial result highlights the effective strategies and dedicated efforts of the Silex team.

Selina Hospitality PLC (NASDAQ: SLNA), announced June 10, 2024, in collaboration with the Inter-American Development Bank (IDB) Group’s innovation arm, IDB Lab, and TechnoArt, announced the launch of the Miami LAC Gateway. This groundbreaking initiative is the first program of its kind, designed to serve as a pivotal entry point for Caribbean and Latin American companies looking to expand into the U.S. market. Simultaneously, the Miami LAC Gateway will provide U.S.-based companies with invaluable opportunities to penetrate the Caribbean and Latin American markets. This initiative aims to foster economic growth, innovation, and cross-regional business collaborations, marking a significant milestone in international business development.