Penny Stocks To Watch
Another wild end to another wild week. Just when you thought the S&P was going to end on a high note, the selling came in strong with 30 minutes to spare. During these volatile times, it may be tough to navigate the broader markets. The main reason why is that big-name stocks like Facebook or Twitter are supposed to be less volatile than micro-cap stocks.
That’s not the case right now, however, and that doesn’t mean volatility isn’t a bad thing either. You just need to understand how to navigate these new waters. The bottom line is that these high-fluctuations in price are irregular to large caps but for those of us familiar with penny stocks, big swings are what we live for.
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We saw one of the wildest weeks in the market, for sure but for penny stocks, we saw some of the biggest breakouts to date. They didn’t come within a matter of months but rather days; sometimes even hours. The fact that the markets are getting used to volatility can mean big things for the liquidity in penny stocks.
Earlier this week we watched a number of names that aren’t typically associated with the term “penny stock” trade at levels well-below $5 a share. This not only opened opportunities to trade higher beta stocks, but it also exposed some new traders to the world of penny stocks.
Penny Stocks To Watch: IMC International Mining
One of the junior gold stocks that continues to pop up is our first Company in Focus, IMC International Mining (IMIMF Stock Report)(IMCX). It has seen some of its biggest volume days this week all while price has managed to also creep higher. Shares of IMC closed on a high note this week with Friday’s session finishing at the high of the day. One of the key factors driving interest around the company recently is its current pending acquisition.
This month the company entered into a definitive agreement to acquire Thane Minerals and its Cathedral property which spans over 50,000 acres in British Columbia’s Quesnel Terrane. The northern part of the Quesnel Terrane right between the Mt. Milligan Mine and the Kemess Mine. The importance of this is that the Mt Milligan copper-gold porphyry deposit contains a combined Measured and Indicated Mineral Resource of 243.9 million tons at 0.134% Cu and 0.226 grams per ton of gold, containing 717.7 million pounds of copper and 1,769,000 ounces of gold. The Kemess Mine produced approximately 3 million ounces of gold and 700 million pounds of copper over the life of the mine.
Rider: It is noted that the results of nearby or adjacent properties are not necessarily indicative of the potential of the Cathedral property and should not be understood or interpreted to mean that similar results will be obtained from the Cathedral property.
With Cathedral right between these two mines, the untapped piece of property could have a large audience according to incoming Chairman, Greg Hawkins. He explained on a conference call this week that Cathedral’s location is one of the key factors of this acquisition. He also outlined a very aggressive timeline for both exploration and early drilling before the end of the year. Given the current trend for gold, will IMC be one of the top gold stocks on your watch list?
Rider: It is noted that the results of nearby or adjacent properties are not necessarily indicative of the potential of the Cathedral property and should not be understood or interpreted to mean that similar results will be obtained from the Cathedral property.
Penny Stocks To Watch: SINTX Technologies
This is one of the penny stocks that I came across earlier this afternoon. SINTX Technologies (SINT Stock Report) saw its shares skyrocket for a fleeting moment on Friday. The penny stock was trading around $0.35-$0.40 for most of the day until around 2PM EST. That’s when SINT stock rallied to highs of $0.64. Afterward, the stock rapidly dropped back to around $0.40 before closing the day at $0.4274.
What appears to be the buzz is around the company’s upcoming conference call. Next week SINTX will host a conference call to provide a business update on April 2. What’s more, is that the rising need for testing has SINT stock among the list of coronavirus penny stocks to watch right now. In a March 23 update, Dr. Sonny Bal, CEO said, “The impetus for testing silicon nitride against viruses was to extend our understanding of the unique surface chemistry of silicon nitride, and attendant antibacterial properties. In our experiments, we exposed three strains of pathogenic viruses to silicon nitride, namely, Influenza A virus (A/Puerto Rico/8/1934 H1N1), Feline calicivirus, and Enterococcus 71 (EV-A71).”
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Since the company develops silicon nitride for medical and non-medical applications, the finding that there was “inactivation of all three viral strains as early as one minute after exposure to silicon nitride,” could be a big topic of discussion. Needless to say, after pulling back, SINT stock traded slightly higher after hours. Will this momentum continue into next week? Feel free to comment below.
Penny Stocks To Watch: ThermoGenesis Holdings
With late-breaking news on Friday afternoon, ThermoGenesis (THMO Stock Report) saw its stock rally into the close. The company released an update just before 3 PM EST. ThermoGenesis announced that it closed a previously announced offering for 1,000,002 shares of stock at a price of $3.50 per share. Considering the fact that the company’s stock was trading far-below that figure could be a strong point for THMO.
The penny stock exploded earlier this week after reporting earnings on March 24. ThermoGenesis further revealed that it would begin to develop point-of-care tests for COVID-19. A little bit of backstory: the company previously formed a joint venture with HealthBanks Biotech ( USA ) named ImmuneCyte Life Sciences, Inc. The plan was to develop a proprietary immune cell banking service, leveraging ThermoGenesis’ CAR-TXpress cell processing platform. Fast-forward to the 24th and ThermoGenesis and ImmunoCyte are working toward the development, registration, import and U.S. FDA approval for coronavirus rapid tests.
Management noted that the first of such a rapid point-of-care test could be available as early as April. Given these two events, it seems like THMO stock managed to bounce back from previous lows. The initial update on raising the $3.5 million was a shock to the market and saw shares dip later in the week. But now that the financing has closed, sentiment seems to be much more positive. Let’s see if this continued into next week.
Disclaimer
Pursuant to an agreement between Midam Ventures LLC and IMC International Mining Corp. (CSE: IMCX) (IMIMF), Midam has been paid $200,000 for a period from January 7, 2020, to February 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to March 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to July 9, 2020. We may buy or sell additional shares of IMC International Mining Corp.(CSE: IMCX) (IMIMF) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about IMC International Mining Corp. (CSE: IMCX) (IMIMF). Full disclaimer here.
