Market Volatility Has Traders Watching Penny Stocks
Investing in penny stocks can often prove to be highly rewarding for investors. Over the years, plenty of people have managed to make fortunes by picking the best penny stocks to buy. However, one needs to watch the market closely as well to find good opportunities.
This can be done through researching things like News, looking at charts, following corporate developments & looking into company filings. With this in mind, here is a look at four penny stocks that are worth considering at this point in time.
Best Penny Stocks To Watch #1 Assertio Therapeutics
Assertio Therapeutics Inc (ASRT Stock Report) made significant gains on Thursday after the company made a major announcement. The company announced that it had sold its product, Gralise to Alvogen in a deal worth $127 million. Gralise is the companies leading pain medication. The news resulted in a major rally in ASRT stock and it soared by as much as 56.65% as investors flocked to the Assertio stock.
“This transaction continues the transformation of Assertio, allows us to focus on our growth products, CAMBIA® and Zipsor®, strengthens our balance sheet, and increases our flexibility for future business development opportunities,” said Arthur Higgins, President and Chief Executive Officer of Assertio.
The deal is structured in a way that benefits both parties. Assertio receives $75 million upfront. The remaining balance gets paid out of royalties on the first $70 million in net sales of the medication.
Best Penny Stocks To Watch #2 ENDRA Life Sciences
The next one to watch is ENDRA Life Sciences Inc (NDRA Stock Report). It has made impressive gains after the company announced a private placement. Typically, capital raises trigger negative sentiment in the market. But not in this case. On Thursday the company announced that it has completed a private placement of Series A Convertible Preferred Stock, warrants and common stock.
The company managed to raise as much as $8.1 million from the placement and the news resulted in a major rally. NDRA stock shot up by as much as 16.67% on the back of the news. It’s also interesting to note that the stock didn’t drop the following day. Though prices were slightly lower than on Thursday, ENDRA maintained higher levels than it was at in late November.
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A portion of the funds get directed to paying back convertible debt from July. ENDRA also plans to use funds to further support commercialization initiatives and clinical studies. “This was a transformative financing for the company as we believe that we are now capitalized through the anticipated regulatory approvals and initial commercialization of the TAEUS liver device. We would like to thank our investors for their continued support and belief in the promise of our TAEUS technology,” said Francois Michelon, ENDRA’s Chief Executive Officer.
Best Penny Stocks To Watch #3 Exicure
Exicure Inc (XCUR Stock Report) was another penny stock that managed to record gains on Thursday after the company made announcements with regards to its product AST-008 this week. The company released updates from the Phase 1B/2 trial of its therapy meant to treat solid tumors.
The trial revealed that patients showed tolerance for it and there was activity in patients suffering from Merkel cell carcinoma. The company also revealed that it is going to soon enroll patients for the Phase 2 study.
“We’re very pleased with the preliminary data generated so far in our ongoing Phase 1b/2 trial and we look forward to enrolling patients in the Phase 2 portion of the trial,” said Dr. David Giljohann, CEO of Exicure. “Based on these results, we are considering adding additional cohorts to the trial in other cancers where AST-008 may have benefit.”
Shares of XCUR stock have been relatively range-bound since August. This ranged between $2.14 and $3.22. However, at the end of November, the market started to pick up steam. Since Thanksgiving week, XCUR has climbed over 40%.
Best Penny Stocks To Watch #4 CV Sciences
Another penny stock that has had an impressive week cannabis company CV Sciences Inc (CVSI Stock Report). CVSI stock gained 56% since the beginning of the week without there being any news or updates from the company. Back in November, the company had announced a distribution partnership with Southeastern Grocers for its product PlusCBD Oil Topical Products.
However, this marijuana penny stock is still down about 70% year to date. Recent excitement was sparked after new updates came about Canada’s new market for cannabis derivatives. Further to this, Ontario soon opens its doors to a full cannabis marketplace. Ontario plans to issue abut 20 new store approvals starting in April of 2020.