If you’re looking for penny stocks to buy, you’re likely searching for a few different things. It might be technical trends, news, corporate filings, or even rumors. Yesterday, for example, we saw shares of Liberty TripAdvisor (LTRPB) skyrocket from under $5 to over $134 within a single day. Shares are still trading above $60 during premarket hours on Thursday.
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There wasn’t any news, filings, or technical indicators that would have “tipped” off traders to this ultimate move. However, this jump in itself was enough to get people speculating. Sometimes the unknown is enough to make cheap stocks, penny stocks to buy for certain traders.
Top Penny Stocks To Buy
Will every penny stock end up running like Liberty TripAdvisor’s B shares? The simple answer is no. But that doesn’t mean you can’t find some of the top penny stocks each day, jumping 50%, 100%, or even more in a single day or week. That’s where the excitement is; the volatility.
And where broader market trends may impact stocks like Twitter or Facebook, they don’t necessarily take a toll on penny stocks, in general. This morning there are a lot of penny stocks to watch right now that have taken off in a BIG way. But does that mean they’ll be the top penny stocks to buy right now?
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ThermoGenesis Holdings (THMO)
Market Cap: $25.53M
Share of ThermoGensis Holdings (THMO) exploded during the Thursday morning session. We first covered the company in late March. At the time it was trading around $2.75 and had just announced the development of a point-of-care test for COVID-19.
This week THMO stock left the range of penny stock levels after yet another big piece of news was released. The company announced an acknowledgement letter from the FDA. Specifically, the FDA confirmed that the company’s kit is appropriately validated. On top of that, the required registrations and listing with the FDA have been completed. So this means that the company can begin distribution.
This kit will be jointly marketed by ThermoGenesis and ImmuneCyte Life Sciences. 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.
Edison Nation Inc. (EDNT)
Market Cap: $10.11M
Shares of Edison Nation Inc. (EDNT) also set sights to the skies on Thursday. Edison is a bit of a conundrum. While it focuses on “business” it casts a wide net with that definition. In its latest endeavor, coronavirus is the main source of attention. Earlier this month the company launched “Edison Nation Medical” to specifically address the demand for products during the recent pandemic.
Why did shares of Edison Nation jump on Thursday? The company came out with another big update that has triggered more investor interest. Edison announced that it has received over $10 million in orders for the purchase of personal protective equipment during its first week since launch. The products range from sanitizers to protective masks and the plan is to ship orders this quarter.
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“With the Coronavirus pandemic effecting thousands of families and healthcare workers in the U.S., we remain focused on furthering the development of our PPE supply network and the Edison Nation Medical brand,” said Edison Nation Chief Executive Officer Chris Ferguson. While this is big news, let’s not forget that the proof is in the pudding. Purchase orders are great but I’m sure the bigger focus, now will be on delivery. What do you think about this latest news from Edison?
PDS Biotechnology Corporation (PDSB)
Market Cap: $12.69M
PDS Biotechnology Corporation (PDSB) hit lows of $0.71 on Wednesday essentially continuing a sideways trend that’s lasted since late March. But on Thursday, that all changed in a very big way. PDSB stock rallied to highs of $1.78 during premarket trading, pulled back, then began to rally once the opening bell rang.
Why did PDS Biotechnology stock run today? The move came after another big COVID-19 related headline came out. PDS announced that it expanded its infectious disease pandemic development program. And wouldn’t you know, it included a vaccine for COVID-19 (and universal influenza). In the Company’s previously reported Phase I clinical study of its PDS0101 (NCT02065973), Versamune® was confirmed to be safe and to uniquely facilitate the induction of strong antigen-specific CD8+ and CD4+ T-cells in vivo. This included memory T-cell responses against the HPV viral target, leading to regression of disease.
“Preventive vaccines to date have focused on induction of neutralizing antibodies. However, both neutralizing antibodies and killer (CD8+) T-cells have now been confirmed to be important in addressing pathogen-induced diseases such as COVID-19, influenza and tuberculosis.”
Dr. Frank Bedu-Addo , CEO of PDS Biotech
T2 Biosystems (TTOO)
Market Cap: $70.61M
In late-March, we looked at T2 Biosystems (TTOO) after the company was awarded an Innovative Technology contract from Vizient, Inc. At the time, TTOO stock was trading around $0.50. According to the company, Vizient is the largest member-driven healthcare performance improvement company in the country. The deal covered T2’s T2Dx Instrument, T2Bacteria, and TT2Candid Panels. These detect sepsis causing bacterial and fungal pathogens from blood. Obviously the attention on blood testing and COVID-19 are starting to go hand-in-hand. This week, T2 stock is back on the move.
Why is T2 Biosystems stock moving today? That’s tough to say. Aside from news on inducement awards to 4 new employees, there weren’t any further follow-ups to previous announcements. Last week the company entered into Amendment No. 2 to the Equity Distribution Agreement with Canaccord Genuity LLC.
Under the initial agreement, T2 can sell shares of the Company’s common stock through Canaccord, as the Company’s sales agent. As of April 8, 2020, the Company has sold 73,237,178 shares of Common Stock with an aggregate offering price of approximately $48.1 million; or about $0.65 a share on average.
Mosys Inc. (MOSY)
Market Cap: $5.14M
Mosys Inc (MOSY) stock, moseyed higher on Thursday. Similar to what we saw with the market for LTRPB, MOSY stock has rarely traded more than 100,000 shares at any price level. For the most part, shares have been sliding for the majority of the year. But on Thursday, the company saw its stock fly high, to over $4. Amid the multiple trading halts, there still weren’t any major headlines to note.
So why did Mosys Inc. stock jump? That’s a great question and feel free to leave a comment with your speculation as well. Earlier this week the company gave a business update. This included the company saying it has resumed shipments of its IC products. In a statement, the Mosys said, “The Company expects to continue shipments during the current quarter ending June 30, 2020 , as MoSys and its vendors are supporting shipment of components for critical infrastructure, as defined by the federal government.”
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But this still doesn’t explain the massive jump in share price and volume. With such a low market cap and less than 3 million shares showing as outstanding on the company’s profile page, this could be another case in favor of low float penny stocks. The company is a provider of hardware and software/firmware solutions that enable fast, intelligent data access and data decisions for cloud networking, security, test and measurement, video and other systems.
