You’ll often hear the question: Can you make money with penny stocks? Now, unless you’re one of the extreme skeptics who are completely against cheap stocks, the obvious answer is yes, you can make money with penny stocks. The real question you should be asking is: “how” can you make money with penny stocks?
This is a better way of going about it especially if you’re even a little bit interested in this equity class. Nevertheless, what are some ways to find the best penny stocks to buy? For starters, you can design stock screeners on platforms like TD Ameritrade, ETrade, and others. This would involve taking some time and outlining a certain set of criteria that triggers an alert when those criteria are met.
Penny Stocks To Buy
For example, if you wanted to find trending penny stocks based on irregular volume or price, you might choose to set alerts for stocks that trade a base number of shares. You can then outline irregular volume based on how many times “today’s volume” is above the average.
Let’s say you set your base to track all penny stocks that trade 2 million shares per day, on average. You then would set another trigger that says, “Find only the stocks trading 3 times the average volume.” That would return a list of penny stocks that fit into that description.
Another way to find penny stocks is looking at the news. Tracking updates from companies and sectors can help identify opportunities or shy away from risk. It doesn’t matter what the industry is, news can easily become a metric to use when it comes to putting together your penny stocks watch list.
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There are plenty of other basics when it comes to stocks like these and I suggest you take a look at some of our articles discussing them. Given this, are these the best penny stocks to watch this week?
Penny Stocks To Watch #1: Assertio Therapeutics
This week, Assertio Therapeutics (ASRT – Free Report) got off to a running start. During premarket trading on January 13, shares of ASRT hit highs of $1.40. This came after the company made a big announcement. Assertio closed its agreement with Alvogen where the company will acquire Assertio’s product, Gralise.
We are pleased to finalize this agreement, a true win-win transaction providing value for both companies. This allows us to focus on our growth products, Cambia® and Zipsor®, further strengthens our balance sheet, and increases our flexibility for future business development opportunities.”Arthur Higgins, President and Chief Executive Officer of Assertio
Alvogen will pay Assertio a total of $127.5 million. This includes $75 million in cash at closing. The balance is payable in the form of a royalty on the first $70 million in Gralise net sales.
Penny Stocks To Watch #2: IMC International Mining (IMCX)
Next on this list of penny stocks, IMC International Mining (IMCX – Free Report) has been on the move recently. Shares started the new year around C$0.25 and have promptly moved to highs of $0.35 last week. It’s no secret that the latest bout of geopolitical and geoeconomic issues have helped boost sentiment for mining and gold stocks. However, for IMC, the company is an exploration stage gold miner with a target site in a region of Arizona that was cited as optimal for gold discovery.
Its 100% owned Bullard Pass Property in Arizona could also have untapped potential. In fact, in an amended and restated NI 43-101 Technical Report, the author suggests that the Bullard Pass property is a “property of merit and further exploration is warranted.” Furthermore, an Arizona Geological Survey stated that “potential exists for a major gold deposit in the area of the Bullard district.”
Needless to say, the bullish nature of gold stocks has helped bring new attention to the sector; especially when it comes to junior gold miners. To start the week, gold stocks futures pointed to a more positive start to the week as compared to how they closed the previous week. Will this signal a buy or sell for gold stocks?
Penny Stocks To Watch #3: Dare Bioscience (DARE)
This morning, shares of Dare Bioscience (DARE – Free Report) have skyrocketed. There was no real lead-up to this move either, which makes it more exciting. Why I say this is based on the fact that for some biotech penny stocks, shares can slowly rise leading up to a big announcement.
In the case of Dare, the stock had been trading sideways right up until premarket on January 13. The stock began the year around $0.81 and saw highs of $2.55 during premarket trading this morning.
So what triggered this 210%+ move? Like I said, news can help find trending penny stocks. In the case of Dare Bioscience, the news was big. The company announced that Bayer and Dare signed a license agreement. Bayer may commercialize Dare’s contraceptive product, Ovaprene in the US. This is pending the approval of the FDA, of course.
However, the fact remains that a commercialized drug in connection with a company like Bayer isn’t something to ignore. Dare could be entitled to as much as $310 million in milestone payments plus a tiered royalty structure. Does this make it one of the penny stocks to buy right now? That will be determined by the market reaction throughout the week, in my opinion. For now, at least, it seems like one of the penny stocks to watch to start the week.
Penny Stocks To Watch #4: ContraFect Corp
Another one of the penny stocks on this list, with news, is ContraFect Corp (CFRX – Free Report). On January 13 the company announced that it partnered with a leading orthopedic center in Europe. The goal is to provide compassionate use of exebacase to patients with chronic staphylococcal prosthetic joint infections.
Cara Cassino, MD, Chief Medical Officer and Executive Vice President of Research and Development of ContraFect said, “This would be a significant benefit to patients worldwide, as there are currently no approved medical treatments for post-operative prosthetic joint infections, and surgical reimplantation of a new prosthetic joint can be associated with substantial disability and loss of function.”
Keep in mind that this comes as the company is set to present an update this week. On Monday afternoon (1-13), ContraFect’s CEO Roger Pomerantz presents at the Biotech Showcase. He will discuss updates on its recently initiated Phase 3 DISRUPT study of exebacase in patients with Staph aureus bacteremia.
Penny Stocks To Watch #5: Nio Inc.
One of the penny stocks that has gained a renewed interest recently has been Nio Inc. (NIO – Free Report). This was one of the names that got crushed last year during the first half. The Chinese electric vehicle manufacturer hit 52-week lows of $1.19 in October.
However, since then, shares of NIO stock have steadily recovered. This year we’ve already seen the stock reach highs of $4.24.
What has been the biggest driver? Sales momentum is a big focus for the public right now. In fact, Bank of America Securities analyst, Ming-Hsun Lee reiterated a Neutral rating but increased the price target to $3.90 from $3.80. The shining factor had to do with “strong sales momentum since August.” Can Nio continue this momentum in 2020 as Tesla rolls out more EV’s in China?
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