Headlines Are Fueling Momentum For These Penny Stocks
If you’re looking for the best penny stocks to buy, chances are company headlines are a starting point for you. They aren’t hard to find, most brokers will include them front and center on their trading platforms, and if you search for specific companies online, their press releases will often come up before their corporate websites.
While a single piece of research or information isn’t the only thing to base an idea on, penny stock news can prompt an immediate reaction in the market, which goes for both breakouts and breakdowns. This article looks at a handful of cheap stocks with underlying companies reporting milestones. We dive into the details of the releases and search for any further data that could be worth considering.
Once you know the “why” something is moving, it will help you better determine the “what” to do next based on market conditions. With an already hectic week in the broader markets ahead, volatility will likely play a significant factor for most stocks this week, not just penny stocks.
Penny Stocks To Watch This Week
Xeris Biopharma (XERS)
Biotechnology penny stocks are known for their underlying volatility. Things can change quickly with a single FDA-related event or clinical trial update. As for Xeris, the company has been developing a pipeline of treatment candidates for various indications.
XERS Stock News
This week the company announced that the FDA granted the subsidiary, Xeris Pharmaceuticals, an orphan-drug exclusivity for the Recorlev platform. This is intended for treating patients with endogenous Cushing’s syndrome where surgery isn’t an option or hasn’t necessarily worked. This gives Xeris a seven-year window of orphan-drug market exclusivity from the FDA approval date (12/30/21).
This news has helped boost XERS stock early in the stock market today.
Genius Group (GNS)
Love it or hate it, Genius Group shares remain in the spotlight at the top of the week. The short squeeze stock known for igniting a notable trend in the stock market recently has released more news that prompted excitement at the beginning of the week this week.
Earlier this year, news that Genius would go forward with efforts to thwart illegal trading activity sparked bullish speculation around GNS stock. It also gave other companies the same idea, and we saw a week-long trend centered around companies following in Genius Group’s footsteps.
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GNS Stock News
At the heart of it all, Genius Group has billed itself as an edtech company. This week it announced a plan to spin off its Entrepreneur Resorts subsidiary to “create shareholder value.” Specifically, it’s expected that shareholders of GNS stock will receive shares of the newco if and when the spinoff is approved and complete. According to Genius, Entrepreneur Resorts already trades on the Seychelle MERJ stock exchange with a share price of $2.75 and a $37 million market cap.
Flora Growth (FLGC)
Despite marijuana stocks selling off the last year, day traders remain focused on some of these companies thanks to sporadic volatility typically fueled by either market events or company news. In this case, Flora Growth, a cannabis distribution company, gained some attention early this week.
FLGC Stock News
Flora Growth issued its 2023 revenue forecast. The company expects to generate $90 million to $105 million, equating to a year-over-year growth exceeding 100%. Luis Merchan, Chairman and CEO of Flora, further explained, “Our 2023 forecasted revenue range represents anticipated growth in excess of 100% over last year and highlights our continued momentum, despite a challenging macroeconomic backdrop that has disproportionately impacted the cannabis industry.”
Aethlon Medical Inc. (AEMD)
Another one of the biotech industry names to watch is Aethlon Medical. The MedTech company leverages its platform to treat cancer and infectious diseases. Its Hemopurifier, for example, is an immunotherapeutic device designed to treat those with metastatic cancer. It has already received an FDA Breakthrough Device indication for such indications, and recent milestones have centered around Aethlon’s clinical program advancements for the platform.
AEMD Stock News
This week Aethlon announced an agreement with NAMSA, which is a contract research organization (CRO) offering development services and will oversee Aethlon’s Hemopurifier clinical trials for oncology indications. NAMSA will manage the company’s study of Hemopurifier in the US and Australia and include patients with different cancer tumors.
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Helbiz Inc. (HLBZ)
Shares of Helbiz have recently experienced intense bouts of volatility for the same reasons that Genius stock has. The “Battle Against Illegal Short Selling” was announced last week and prompted some speculative trading action in the stock. That wasn’t the only thing going on with the company, however. Helbiz also announced key updates, including pre-orders for its Wheels One micro-mobility vehicle. But this week’s catalysts haven’t resulted from the micro-mobility platform but broader tech fueling the company directly.
HLBZ Stock News
Helbiz announced that it would start incorporating popular AI platform OpenAI’s ChatGPT technology into different departments of the company. Jonathan Hannestad, COO of Helbiz, explained how this would help the company, saying, “With ChatGPT-3 as a deeply integrated AI tool, we are not only able to enhance the overall customer support experience but also empower our front-line workers to access information quickly and resolve tasks, monitor and report on issues, and reduce the number of tasks escalated to tech support. This leads to increased operational efficiency and decreased operational costs, providing our customers with an even better experience, both in terms of customer support and riding and service.”
List Of Penny Stocks To Watch [News Edition]
- Xeris Biopharma (NASDAQ: XERS)
- Genius Group (NYSEAMERICAN: GNS)
- Flora Growth (NASDAQ: FLGC)
- Aethlon Medical Inc. (NASDAQ: AEMD)
- Helbiz Inc. (NASDAQ: HLBZ)
