Penny stocks are risky enough. But when you include some of the cheapest of the cheap, be ready to see that risk amplify. Taking out all other contributing factors, the lower the price, the less it takes to realize a significant percentage change in value. Today’s article looks at four more penny stocks under $1 to watch this week and is a continuation of our article “Best Penny Stocks To Buy Now? 3 Under $1 To Watch.”
What Are Penny Stocks?
You might say, “aren’t penny stocks traded under $1 anyway?” Well, it would make complete sense to think that. But according to the standard definition of penny stocks, it includes small companies’ stocks trading for $5 or less. While your typical cheap stock is risky, stocks trading for pennies have their risk/reward dynamics.
Why Trade Stocks Under $1?
This might beg the question of why? Why take on so much risk if it could result in a massive loss from a move of just a few cents? The short answer is the flip side of that argument can bring significant gain potential. Let’s not even discuss companies like Apple or Amazon. Let’s take two penny stocks: one trades at 50 cents and the other at 5 dollars. It will only require the cheaper of the two stocks to move 10 cents to hit a 20% gain. If the stock trading for $5 advanced 10 cents, it’s a barely noticeable change.
Penny Stocks To Buy For Under $1
Now that we’ve covered some of the basics, let’s look at a few penny stocks with a retail price below $1. We’ll see what recent catalysts might have helped momentum in the market. Then you can decide if they deserve a place on your watch list or not.
Cosmos Holdings (COSM)
The global healthcare company Cosmos Holdings has recently caught some bullish momentum. It’s a welcome sign for some who saw the penny stock crumble earlier this month. The move came after announcing a multimillion-dollar financing round that it planned to offer at a discount to the market. Cosmos raised $7.5 million earmarked for acquisitions, paying down liabilities and working capital.
[Read More] 10 Top Penny Stocks To Buy According To Wall Street Analysts In 2022The company owns lines of nutraceutical products, including its Sky Premium Life and Mediterranation. With the anticipated closing date of October 20th (today), the market has grown bullish, assuming cash is in hand.
What To Watch With COSM Stock
It’s worth mentioning news from last month. Cosmos entered into a letter of intent to acquire ZipDoctor, a direct-to-consumer telemedicine subscription platform. While terms weren’t disclosed, no further updates were released, and speculation has begun to grow in light of this new financing.
AnPac Bio-Medical Science Co. (ANPC)
Shares of biotech company AnPac Bio-Medical Science have also spiked this week. The $0.26 penny stock has been moving since announcing board and management changes at the beginning of October. However, one of the more significant developments this month came after CRS Holdings Inc. submitted an amended 13D filing. It showed beneficial ownership of 83.23% of Class B Ordinary Shares.
If you read the article “3 Best Penny Stocks To Buy Before November According To Insiders,” you know the “Follow The Money strategy” could have played a role. On October 13th, ANPC stock saw some of its highest volume and single-session trading price in over a month.
What To Watch With ANPC Stock
Besides institutional activity, AnPac has maintained a growth strategy focused on expanding its cancer screening and detection suite. Last month it raised over $3 million toward things like its Class 3 medical device clinical trial. As Co-CEO Dr. Chris Yu discussed, “The successful completion of this clinical trial and obtaining a Class III medical device license is very important to our efforts to commercialize our cancer detection technology and Company valuation.”
Adamis Pharmaceuticals (ADMP)
Last month was tough for Adamis, which reported results from a trial of its Tempol in COVID patients. It failed to meet the primary endpoint, and the result in the market was what you might expect; a significant drop.
In light of the data, David J. Marguglio, Adamis’ CEO, explained, “Though we are certainly frustrated with these results, we remain bullish on ZIMHI® (launched in 2022), and SYMJEPI® and our team is focused on increasing sales and improving manufacturing efficiencies for our commercial products.”
What To Watch With ADMP Stock
Now that ADMP stock seems to have found some footing around the $0.10 area, traders and the company have reassessed the situation. Adamis announced it would review strategic alternatives, including partnership or sale of certain commercial products.
The speculation surrounding what comes next has begun driving momentum in the stock market this week. As of now, no new details have been released or discussed the strategic alternatives.
Corbus Pharmaceuticals (CRBP)
Immunology company Corbus Pharmaceuticals caught much-needed momentum in the stock market this week. Shares bounced back from 52-week lows of $0.10 to highs of nearly $0.20 during premarket trading on Thursday.
The company’s pipeline is what has come into focus, helping prompt some of the bullish action. Corbus develops antibodies that are activated by the endocannabinoid system. With a focus on cannabis stocks more recently, there’s a bit more optimism surrounding select names. Corbus’ most advanced compound, lenabasum, is an oral, small molecule that has shown the potential to reduce inflammation and fibrosis.
What To Watch With CRBP Stock
Corbus announced that it would present preclinical data for its CRB-601 at the Society for Immunotherapy of Cancer meeting next month. The presentation will demonstrate the treatment candidate’s ability to overcome tumor immune exclusion while enhancing immune checkpoint inhibitor activity.
With current Investigational New Drug enabling studies underway, this presentation could be something to note if CRBP stock is on your list. The dates of the actual presentation are November 10-11thwith an abstract available on the event’s website on November 7th.
List of Penny Stocks To Buy For Under $1
Today’s article looked at four more penny stocks under $1 to watch this week and is a continuation of our article “Best Penny Stocks To Buy Now? 3 Under $1 To Watch.” For the full details, check out the update and for the complete list, the names are included below:
- Cosmos Holdings (NASDAQ: COSM)
- AnPac Bio-Medical Science Co. (NASDAQ: ANPC)
- Adamis Pharmaceuticals (NASDAQ: ADMP)
- Corbus Pharmaceuticals (NASDAQ: CRBP)
- Oblong Inc. (NASDAQ: OBLG)
- Clever Leaves Holdings Inc. (NASDAQ: CLVR)
- Nutex Health Inc. (NASDAQ: NUTX)
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