best penny stocks to watch today

Will These Penny Stocks Make New Highs Before 2020?

Penny stocks are volatile; we know this. But it’s also important to know that this volatility can lead to extremes. What I mean by this are extreme highs and extreme lows. Yesterday we wrote about a few penny stocks hitting 52-week lows. The charts of these low priced stocks frankly looked horrible and if you research some of the backstories, you would likely see why.

So this is a big reason to do your research because both of those stocks had solid intra-day moves at times. But overall, the trend was bearish. On the other side of the “extremes,” you have penny stocks hitting 52-week highs. Many people will use these levels to add companies to their list of penny stocks to watch. The reason why is that many times you’ll see stocks at lows, which could mean one of two things.

First, the company may be undervalued and oversold. On the other hand, it may mean the company is worthless and likely to go lower. The inverse of that is for stocks at 52-week highs. Either it’s overvalued and overbought or it’s living up to expectations and set to move higher.

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Though there’s no crystal ball, by researching things like penny stock news and corporate filings, you’ll be able to get a better understanding of the reasons why a stock moves the way it does. Today we’ll look at some companies hitting new highs.

Penny Stocks to Watch: Overseas Shipholding Group, Inc. (OSG)

The first on this penny stocks watch list, Overseas Shipholding Group, Inc.(OSG Stock Report) has been somewhat of a comeback story thus far. As you’ll see on the chart, shares of OSG stock surged early in the year but sharply dropped shortly after. A 2-week rally saw the stock climb from around $1.80 to nearly $2.70. What followed was a 2-month downtrend.

This month, Overseas Shipholding saw a similar move. From December 13 to this week, shares have sharply risen from around $1.80 to new 52-week highs of $2.72. This came after a joint agreement was made with American Shipping Company ASA where OSG exercised options to extend its bareboat charter agreements with AMSC. This was for four vessels currently under charter from AMSC. The biggest question now, will the same outcome result this time around or will OSG continue higher?

penny stocks to watch Overseas Shipholding Group, Inc. (OSG)

Penny Stocks to Watch: Ovid Therapeutics (OVID)

Next, Ovid Therapeutics (OVID Stock Report) had an interesting year and managed to make new highs this week. After dropping to new lows during the first half of the year, Ovid has made a point to focus on execution. After several attempts at breaking out and failing to hold gains, the latest surge has withstood pressure for several weeks.

A lot was revealed in its most recent quarterly update. This includes positive initial results from an ongoing ENDYMION Trials with its OV935 therapy for epilepsy. Further to this, the company has appoint several key members to its leadership and management teams. The big focus comes as the company is expecting a big year next year. In fact, one of the possible catalysts lately is what “could come in 2020.”

Specifically, the company said that it expects multiple clinical data readouts across its pipeline next year including a phase 3 NEPTUNE Trial for Angelman Syndrome. We know by now that positive Phase 3 results can be big for biotech companies (bad results can obviously become the opposite).

penny stocks to watch Ovid Therapeutics (OVID)

Penny Stocks to Watch: DURECT Corporation (DRRX)

This has been a name to watch all year. DURECT Corporation (DRRX Stock Report) has managed to move from around $0.48 in January to $3 this week. That 525% explosion didn’t come by chance either. Over the course of the year, the company has executed several initiatives and delivered on what it set out to.

The first push started in July. It came after DURECT Corporation announced that it received a complete response from the FDA regarding its POSIMIR® (bupivacaine extended-release solution) treatment. What followed included engagements with companies like Gilead Sciences (GILD Stock Report), which has paid DURECT handsomely thus far for access to its HIV treatment.

Also, just recently the company reported positive results from its Phase 2a clinical trial of DUR-928 in alcoholic hepatitis. In any case, there’s been plenty of news and updates from the company that supports the move so far. Looking ahead, do you think this is one of the penny stocks to buy or avoid heading into 2020?

penny stocks to watch DURRECT (DRRX)

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