Whether you’re a seasoned trader making money with penny stocks or just getting your feet wet, 2022 has been a wild year for all levels of experience. This week, particularly, marks somewhat of the calm before the storm as September is likely to heat up even more.
Stock Market Good, Bad, & Ugly
We’ll cover much of this in more detail over the weekend, but there are a few critical economic events next week that could directly impact the stock market. In particular, the next round of Consumer Price Index data will come out on Tuesday, followed by Wednesday’s Producer Price Index.
Both figures could give a glaring overview of the state of inflation and lead to speculation on fiscal policy. We’ll also get retail sales data and the all-important jobless claims. All of this data will likely sway markets in one direction or another, and the closer we get, the more apparent that move will become.
So what about the stock market today? This week’s final trading day rounds out a relatively moderate week in the stock market. This lull has seen micro-trends emerge for penny stocks and small-cap stocks in particular.
These trends have ranged from price-specific moves (Hot Penny Stocks To Buy For Under $0.99 This Week), attention on short squeeze stocks (These Short Squeeze Penny Stocks Are Exploding This Week, Time To Buy?), and even data-driven trends with things like unusual options activity (10 Top Penny Stocks With Unusual Options Activity This Week).
But it hasn’t been fun and games for all penny stocks. Many have fallen short of expectations. Even the bullish trend in IPO stocks has slowed down over the last few days. Early breakout moves in certain issuers have failed by the end of the day, and many pre-market stocks to watch dropped like a rock as soon as the opening bell rang.
Stocks still carry risk, and penny stocks generally see that factor amplified due to higher volatility and speculative trading.
Penny Stocks To Buy
There were plenty of penny stocks to buy this week. Some were better suited for day traders than swing traders, while others were the opposite. In this article, we look at a few of the hot penny stocks to watch before next week, see what’s behind the move and let you decide if they’re worth the risk or not.
1. Microvast Holdings (NASDAQ: MVST)
Microvast caught a welcomed move in the stock market on Friday, with shares exploding to highs of $2.54 and marking the first actual green day in weeks. A recent focus on alternative energy stocks and electric vehicles has sparked plenty of action in the market. Microvast designs, develops and manufactures lithium-ion battery solutions leveraging its cell technology.
Electric vehicle stocks remain a hot topic thanks to the Inflation Reduction Act. Specific tax incentives have bolstered optimism for the industry’s future. The upbeat sentiment in the market has helped propel shares of related companies, including MVST stock.
[Read More] 4 Penny Stocks Making A Comeback In September, Time To Buy?Microvast reaffirmed its revenue guidance in a recent quarterly update. It’s expected it to come in at 35% to 45% growth compared to 2021. There’s also a company backlog as of the end of Q2 of $105.3 million. This was an increase of nearly 52% compared to the end of Q2 2021.
Analysts have also grown bullish about Microvast. Oppenheimer recently picked up coverage on the battery company and gave an Outperform rating. Analysts also issued an $8 target.
2. Seelos Therapeutics (NASDAQ: SEEL)
Since mid-May, Seelos has quietly mounted a steady rebound. The widespread focus on the company has been all about psychedelics. Its SLS-002 and SLS-003 are ketamine-based treatments. In its own words, Seelos describes the treatments as follows:
- SLS-002 Has the Potential to Transform the Treatment of Acute Suicidal Ideation and Behavior (ASIB) in Major Depressive Disorder (MDD) and Post-Traumatic Stress Disorder (PTSD)
- SLS-003 (sublingual ketamine wafer) focuses in a chronic indication where sublingual delivery is better suited and continues developing SLS-002 (intranasal racemic ketamine) in the acute setting such as ASIB in MDD.
The company will present at a few upcoming psychedelic conferences later this month and in October. If SEEL stock is on your list, you’ll want to keep September 22 and October 6 on your calendar. At the same time, psychedelics are a draw, more recent newsflow centers around other platforms, including its SLS-004 gene therapy. The candidate contributed to receiving a grant from The Michael J. Fox Foundation for Parkinson’s Research to advance preclinical research and development. Seelos also began dosing in an open-label study of its SLS-005 for Lou Gehrig’s disease. Complete enrollment in the study is expected by the end of this quarter.
3. Spectrum Pharmaceuticals (NASDAQ: SPPI)
Like Seelos, Spectrum has also mounted a strong recovery over the last few months. Following its second-quarter earnings update, SPPI stock began surging more, breaking and holding above its 200-day moving average for the first time in over a year.
[Read More] 4 Hot Penny Stocks To Buy Now According To Top Hedge FundsThe oncology company discussed specific FDA-related milestones, including a completed FDA reinspection of its eflapegrastim manufacturing facility and a date set for its poziotinib New Drug Application review meeting (which is coming up this month). Poziotinib is the company’s candidate in Hspeciifc cancers, including non-small cell lung cancer.
It’s Spectrum’s eflapegrastim that is in focus right now. The candidate is designed to reduce the duration of severe neutropenia, which can cause chemotherapy dose delays, reductions, and interruptions. The re-inspection of the drug’s facility was seen as a “critical step in the regulatory review process,” according to CEO Tom Riga in a statement last month.
This week the company announced that the FDA approved its eflapegrastim-xnst (trade name ROLVEDON) in patients with non-myeloid malignancies receiving certain anti-cancer drugs.
“Our commercial team is in place and ready to engage key stakeholders immediately…Equipped with extensive long-acting growth factor market experience, customer connectivity and learnings from in-depth market research insights, we are ready to optimize the launch trajectory. We expect to have product available in the fourth quarter of 2022 following the fulfillment of customary, pre-launch regulatory requirements.”
Erin Miller, Senior Vice President, Sales & Marketing of Spectrum Pharmaceuticals
The news was posted after hours on Friday. It will be interesting to see how SPPI stock starts next week.
List Of Penny Stocks In This Article
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