Penny Stocks Can Still Offer Opportunities Even If You Can’t Be A Minute-By-Minute Stock Jock
There’s no question about it, penny stocks are the heartbeat of the market for some. If you look at some of the top penny stock chatrooms right now, they’re either focused on options trading or finding the best penny stocks to trade.
Why? Simply put, these investment vehicles are inexpensive, volatile and small moves in price mean big gains for a portfolio. More and more people are finding top penny stocks on Robinhood. Is it a perfect app? No, but many people who work a full-time job tend to use the Robinhood platform to buy penny stocks.
So, for those working a day job, intra-day trading may not be the best. If you work a day job, then you already know how tough it can be to watch the market all day. For that reason, investors might want to look at how to swing trade penny stocks instead. This is to say that they should look at penny stocks that have strong trading momentum and multiday movement. Many times, this type of move can continue for 3 days or more. Keeping this in mind, here are 5 penny stocks to watch this week.
Marijuana Penny Stock To Watch: India Globalization (IGC)
Marijuana stocks are still a hot ticket item in the stock market. And among most penny stock investors, the cannabis sector has offered both volatility and volume. India Globalization (IGC Stock Report) has been a mainstay on most marijuana stock watch-lists ever since listing, then de-listing, then relisting onto the NASDAQ exchange over the last few months. So what makes this a marijuana penny stock to watch?
Whether you’re paying attention or not, many big cannabis companies have fallen short on earnings. But for Indian Globalization, the wind is in its favor. In fact, we listed this as a penny stock that may need extra attention, earlier this month.
The Maryland-based company saw its revenue catapult as sales began for its plant and CBD business during the fiscal year 2019. IGC has begun rolling out sales of its Holi Hemp product under the plant and CBD business line. This added $25,000 to total revenue in its first week of sales.
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Additionally, the company begun selling Hyalolex. This is its flagship product and is used to improve the quality of life in people suffering from Alzheimer’s, in select dispensaries in Puerto Rico. Whatever your feelings are on this company (many mixed), IGC stock is now on its 5th day of trading higher. In fact, shares of the pot penny stock are up by more than 70% since last Tuesday.
Biotech Penny Stock To Watch: Obalon Therapeutics, Inc. (OBLN)
I’ve said this plenty of times in the past: Biotech penny stocks can go crazy with news. Obalon Therapeutics (OBLN Stock Report) is no different. On June 24, the biopharma company rolled out some penny stock news about results from a recent trial. The results were presented at Obesity Weekend in Chicago on Friday, June 21st, 2019. These results showed substantial clinical data from a study conducted with 14 clinical sites.
“These data demonstrate the robustness of our Navigation System, which like our gastric balloon, continues to perform well in clinical studies and in commercial use. We remain dedicated to improving the performance, usability and economics of the Obalon Balloon System and making this safe and effective technology more readily available to individuals with a BMI between 30 to 40 kg/m2 who are ready to lose weight and improve their overall health.”Amy VandenBerg, Chief Clinical and Regulatory Officer of Obalon
Granted that some penny stock news can be short-lived. Palatin (PTN Stock Report) was a clear example of this earlier in the morning on June 24. But for OBLN stock, late afternoon volume could be something to pay attention to for momentum later this week. Just an opinion. The last time OBLN stock ran like this, we made sure to bring attention to it. See: One Biotechnology Penny Stock Is Up Over 100% On May 22nd; Obalon Therapeutics, Inc. (OBLN).
Energy Penny Stock To Watch: VivoPower International PLC (VVPR)
VivoPower International PLC (VVPR Stock Report) is raising eyebrows this week after making its own headlines. The company announced that has won major contracts in Australian Solar and data centers. The outcome according to VivoPower: a Record Forward Order Book. The company’s order book has now jumped to more than $51 million and represents an increase of more than 50% in the last 7 months. Since fulfillment is expected within the next 12 months, it would appear that this news could be a short term catalyst.
As with many energy penny stocks, news like this is great when you first read it but then it’s time to get to work. VVPR stock has skyrocketed by more than 100% and continues to surge into the afternoon. The big question mark will be how it will deliver on these orders. Outlying factors like weather, infrastructure, and other attributes can put a pause on projects and slow down the process. In the end, however, investors appear to be supportive of this news at least for today.
Gold Penny Stock To Watch: IAMGOLD Corporation (IAG)
Last week we discussed how silver and, more importantly, gold penny stocks would be something to pay attention to. This is no different today. IAMGOLD Corporation (IAG Stock Report) has gotten a nice lift once again. Ever since the end of May, shares of IAG stock have seen a steady climb. The gold sector tends to lift during times of market uncertainty and increased global fear. The stock market news that we’ve seen recently has helped support a bullish case for gold penny stocks.
IAMGOLD hit fresh June highs of $3.42 on Monday. This was aided by the company’s recent developments. A Bloomberg article recently highlighted the proposed transaction (see: “China National Gold Studies Bid for Canadian Miner Iamgold”). The deal would be between China’s second-largest miner of metal, China National and its bid for Canada’s Iamgold Corp. China National is putting things together with financial advisers on a possible offer, according to people close to the deal. Meanwhile, IAMGOLD continues to pursue all avenues of sale to parties interested in a roll up.
Check Out Our Article: 3 Gold & Silver Penny Stocks Making Big Moves In June
Healthcare Penny Stock To Watch: VBI Vaccines (VBIV)
VBI Vaccines (VBIV Stock Report) got demolished last week. How bad was it? Well, for penny stock traders on June 14, very bad if they held through the weekend. On June 14 VBIV stock closed at $1.89 and the following Monday, opened at $0.85. The huge drop was due to some bad headlines about the company’s late-stage Hep-B vaccine. Check out, “This Biotech Penny Stock Just Took A 69% Nosedive” to read more on this.
Even though the stock plummeted, anyone who has watched this healthcare penny stock since the drop is likely impressed. Shares of VBIV stock have been rallying ever since. With the company set to present at the BMO Capital Markets 2019 Prescriptions For Success Healthcare conference tomorrow (6-25), it will be something that market is sure to be monitoring.
The main focus of VBI’s presentation will likely include progress on its pipeline therapies. Since hitting lows on June 17 of $0.57, VBIV stock has recovered by more than 100% within just one week.