It’s A Short Week But These Penny Stocks Could Be On Watch Lists Starting Tomorrow
The holidays are always an interesting time for the stock market, in general. However, when it comes to penny stocks, there are even more things to be aware of. First, the typical liquidity in the market decreases a bit due to people traveling or simply spending time away from their trading desk. This, in turn, makes illiquid stocks that much less liquid.
What’s the point? The major factor to consider here is that it’s the end of the year and there are several days where fewer investors are likely to have traded as a top priority. Some even focus on selling stock rather than buying. One of the most popular penny stock brokers, Robinhood has a good tool to track interest in certain stocks; penny stocks specifically.
It can show you how many people hold a certain name in their list of penny stocks on Robinhood. But keep in mind, even if you know how many own shares of a company, it doesn’t mean you’re out of the woods this time of year. Because of tax selling, investors may cut their non-performing positions before the end of the year to take a tax loss.
Penny Stocks On Robinhood During The Holidays
However, that doesn’t mean this time of year isn’t a good time to trade penny stocks on Robinhood, for instance. It just means that you have to be selective. Finding companies with upcoming catalysts or others with built-in momentum may be a better way to play the slower market.
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So it’s going to take you time to do research on things like news and corporate filings to figure out if there’s an upcoming corporate event or not. With this in mind, here’s a look at 4 penny stocks on Robinhood that have started catching a bit of attention during the last part of the year.
Robinhood Penny Stocks To Watch #4: Acasti Pharma Inc. (ACST)
The first on this list of penny stocks on Robinhood, Acasti Pharma Inc. (ACST Stock Report) has been on a run for most of December. In fact, besides a sideways trend from mid-August to early-December, ACST stock has run higher this year. It began 2019 around $0.83 and has since hit highs this month of $2.94. That’s just 1 cent shy of its 2019 high of $2.95.
One of the great things about this time of the month is that many speculate on previous updates citing “before the end of the year.” In Acasti’s case, the company announced in November that it expects topline results from a TRILOGY 1 pivotal Phase 3 trial “in December.” Phase 3 is very important for pharma companies and can be a “make it or break it” moment. Acasti’s treatment, CaPre, focuses on severe hypertriglyceridemia and it’s no wonder why shares have rallied for the last few weeks.
Pierre Lemieux, Ph.D., COO and CSO of Acasti, commented in a PR, “We are pleased to report our “last patient, last visit” in TRILOGY 1, and we are nearing completion of TRILOGY 2 with approximately 85% of randomized patients having completed TRILOGY 2. Data clean-up is now 97% and 75% completed for TRILOGY 1 and TRILOGY 2, respectively. As a result, we are on track to report topline results for TRILOGY 1 in December 2019 and TRILOGY 2 in January 2020.”
Sometimes speculation can become a big driver of the market and hence, why ACST may be rallying right now. Furthermore, it’s important to note that Mr. Lemieux also said that if the results are positive, 2020 could become a big year too. He said Acasti intends on presenting a full data set “at important scientific meetings” during the first half of 2020.
Robinhood Penny Stocks To Watch #3: MEI Pharma, Inc. (MEIP)
This was another one of the popular penny stocks on Robinhood that could see momentum from speculation this month. MEI Pharma (MEIP Stock Report) announced earlier this year that it expects results from a Phase 2 clinical trial. This is for its Pracinostat treatment, including response and 1-year survival. Specifically, it estimated it to be available “around year-end 2019.”
Much of the more recent interest based on press releases has targeting MEI’s ME-401. The treatment is designed to B-cell malignancies. “During this past quarter, our primary focus remained on advancing the clinical development of ME-401, as well as voruciclib, while continuing to explore additional clinical collaborations and partnering opportunities to effectively leverage the potential of our drug candidates for patients,” said Daniel P. Gold, Ph.D., president and chief executive officer of MEI Pharma in a November release.
However, we still have yet to hear anything about an update regarding this Pracinostat Phase 2 Trial. It’s also important to note that there’s been noticeable insider activity this month. Several directors and officers of the company purchased more than 100,000 shares at an average price of $1.60. Though MEIP stock took a hit in mid-December after announcing a financing deal, shares have been in recovery mode since. Can that continue this week?
Robinhood Penny Stocks To Watch #2: Celsion Corporation (CLSN)
Similar to MEI, Celsion Corporation (CLSN Stock Report) reported an update earlier this year. It indicated expectations for the end of the year to see results. Specifically, for Celsion, in November it said that it was recommended to continue its GEN-1 dose level. It was also done so in order to complete Phase 1 of its OVATION 2 study. This is for ovarian cancer patients.
In his own words, company Chief Medical Officer, Nicholas Borys, M.D. said, “Of the eight patients treated in the Phase I portion of the OVATION 2 Study, five patients were treated with GEN-1 plus NACT and three patients were treated with NACT only. We look forward to presenting surgical results, overall response rates, and translational data as it becomes available later this quarter.”
Since we haven’t heard anything yet, it’s something to take note of. Also if the company hopes to report on schedule, there are less than two weeks left in the quarter. On top of it, last week Celsion announced signing a Memorandum of Understanding.
It was with Hangzhou Yuhang Economic Development Area to set up a subsidiary in China’s Zhejiang Province. The main goal of this is to commercialize the company’s drugs. As they’ve stated, it starts with its ThermoDox for hepatocellular carcinoma or primary liver cancer.
Robinhood Penny Stocks To Watch #1: McDermott International (MDR)
The last and only company that isn’t a biotech penny stock, McDermott International (MDR Stock Report) caught a little wind on Friday. This came after the company came out with several new updates last week.
First, McDermott announced that it received a “sizeable” tech contract from Naftna Industrija Srbije to modernize Naftna’s existing Fluid Catalytics Cracking unit. Next, the company announced shipment of the first commissioning cargo of liquified natural gas. These include Chiyoda International and Zachry Group and comes from its “Train 2” of the project in Freeport, TX.
“The ongoing momentum of this project has accelerated us past multiple accomplishments, including Train 1’s introduction of feed gas, first liquid and first cargo. And, we are well on our way toward commercial operation for Train 2,” said Mark Coscio. He’s McDermott’s Senior Vice President for North, Central, and South America.
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However, there is something you should keep in the back of your head as we turn attention to 2020. McDermott’s Train 3 initial production is on track and scheduled for Q1 of next year.
Great. Should also watch Aptose Biosciences (APTO). Not necessarily a penny stock but very cheap and has a good pipeline related to the BTK Inhibitor.
Thanks Jim. It’s actually a company that has been featured on the site since earlier this month. Check out our article, “These Penny Stocks Just Hit New December Highs; What’s Next?“