Check Out This List Of Penny Stocks To Buy Or Sell This Month
The term “insider trading” doesn’t usually coincide with penny stocks. But this month some of the most active penny stocks saw momentum spark from just that. The typical thought when someone hear’s the term “penny stocks” is that they’re looking at a “young company.” But the fact remains, just because something is considered a penny stock based on the share price, doesn’t mean it isn’t a company worth watching.
It’s important to point out that the markets have been increasingly volatile but in a general uptrend for months. Based on this, some investors look to more high-risk options to get their fresh dose of adrenaline.
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It just so happens that cheap stocks can do the trick. This year alone we’ve seen how small-cap stocks and micro-cap stocks have outperformed compared to previous years. Now, heading into the new year, it would appear that the trend has continued. The question with this list of penny stocks: Are they a buy or sell this month?
Best Penny Stocks To Buy [or sell]: Eastman Kodak Company (KODK)
Once a titan of industry, Eastman Kodak Company (KODK Stock Report) has traded well-below the $5 penny stock threshold for the better part of the last 18 months. In 2019, the general trend hasn’t been up or down, overall but more sideways. However something has changed this month that could indicate potential catalysts, at the very least.
That “something” is insider trading. Earlier in December Eastman Kodak directors Philippe Katz and George Karfunkel bought more than 6.6 million shares of KODK stock. Based on the average price paid, that equated to $16.6 million.
In terms of comparable companies trading under $5, which do you know of that see insider buying to this extent? Aside from this, there hasn’t been any news since the company reported its quarterly results in early November.
Why does that matter this week? Well, we’ve got a situation where there hasn’t been news, there’s active insider buying, and on Tuesday KODK stock saw another big push in price just before the lunch hour. In its corporate update, company CFO David Bullwinkle, said, “We have strengthened our financial position by eliminating significant interest costs with the transactions completed earlier in the year.” Can this help strengthen the company enough to have a better year in 2020?
Best Penny Stocks To Buy [or sell]: Corvus Pharmaceuticals (CRVS)
Another one of the penny stocks to watch with insider trading activity this month is Corvus Pharmaceuticals (CRVS Stock Report). But in the case of Corvus, the activity was conducted through exercising stock options in the company. Seven members of the company’s leadership team exercised options to buy stock at a price of $3.54 per share.
If you’ve been reading our articles this month, you already know that there was a big biotech conference held earlier in December. The American Society of Hematology held its annual meeting during the first few weeks of the month. Hundreds of companies were in attendance and many reported positive updates to certain therapies.
Corvus followed suit and presented preclinical data from its Phase 1/1b Trial of CPI-818. Early data showed that CPI-818 achieved its target. Results were strong enough to where the company now plans to escalate portions of the study to find an optimal dose.
“We are excited to report the first clinical experience with CPI-818, our selective covalent ITK inhibitor designed to address T-cell lymphomas, a category of hematologic cancers with great need for novel therapeutic options.”Richard A. Miller, M.D., co-founder, president, and chief executive officer of Corvus.
However, after jumped to highs of nearly $5 earlier in December, CRVS stock pulled back. This week has seen a strong recovery and within any obvious news, the search is on or what, if anything, could be a catalyst.
Best Penny Stocks To Buy [or sell]: 22nd Century Group (XXII)
Initially followed as a marijuana penny stock, 22nd Century Group (XXII Stock Report) has actually focused on tobacco, specifically. This week the company welcomed significant news on Tuesday and after losing its CEO without a successor, that may have been a warm welcome at that.
The US FDA announced authorization for marketing of two new tobacco products manufactured by the company. Its Moonlight and Moonlight Menthol cigarettes contain reduced amounts of nicotine compared to normal cigarettes.
“Today’s authorization represents the first product to successfully demonstrate the potential for these types of tobacco products to help reduce nicotine dependence among addicted smokers…We’ll be closely monitoring how Moonlight and Moonlight Menthol are marketed and will take action as necessary if the company fails to comply with any applicable statutory or regulatory requirements or if there is a notable increase in the number of non-smokers, including youth, using these products.”Mitch Zeller, J.D., director of the FDA’s Center for Tobacco Products.
This does not, however, mean these cigarettes can be considered “FDA Approved.” So don’t get too carried away. Despite this case, shares of XXII stock skyrocketed to highs of $1.21 in early morning trading. Will this trend remain in place for the duration of 2019?