5 Penny Stocks To Watch Righ Now
Do you trade penny stocks? Are you just getting your feet wet in the market? Do you invest full-time? No matter what stage you’re at, you’re here for 1 reason (I hope) and that’s the make money. Now, there are people who stay away from penny stocks no matter what.
Call it a stigma that some still associate with cheap stocks. But the fact of the matter is this: you can make a lot of money with penny stocks in a very short period of time. That being said, you need to know how and where to look in order to have the best chance at doing so.
Learn To Trade Penny Stocks
I don’t care what the “guru” said on Twitter or what some “Conversation Starter” said on Facebook. What I care about is being consistently profitable. If you don’t know the basics of penny stocks, you’re only hurting yourself. You should know how and why you’re making the trade you’re making.
Not just the fact that “it’s going up.” One of our contributors wrote an article yesterday talking about the importance of education. If you haven’t read that yet, check this out. Needless to say, it’s important to pay attention to things like news, filings, and even rumors that could be possible catalysts behind big moves.
Penny Stock Basics
- Penny Stocks For Beginners; How To Buy, Trade, & Make Money
- Penny Stocks: Frequently Asked Questions About Low-Priced Equities (FAQ)
- How To Trade Penny Stocks: 9 Key Strategies To Learn Now
With this in mind, here’s a list of penny stocks that some have started watching. Whether they’re the best to buy now or not is up to you. But recent moves suggest that they’ve started to turn some heads at the very least.
Top Penny Stocks To Watch: Aurora Cannabis
The long-awaited marijuana stock turn around may not be 100% confirmed. But this week was a good start. A number of marijuana penny stocks have performed very well in light of positive earnings growth from a few top companies. This has triggered a move for pot stocks like Aurora Cannabis (ACB – Free Report) to make a strong push higher.
At the start of the week, shares traded around $1.50. Since then, ACB stock jumped to highs of $2.22 during premarket trading on Thursday. Though Aurora didn’t release any news, industry updates helped catapult shares nearly 50%. Something to note is that this week a bipartisan group of lawmakers introduced a bill that essentially orders the FDA to allow the marketing of CBD as a dietary supplement and food additive. This was a major roadblock that many CBD companies identified as something that slowed sales in previous months.
Though Aurora itself hasn’t reported earnings, favorable results from the likes of Organigram and upbeat demand figures from Aphria have helped boost sentiment across the sector. With this in mind, is it time to start adding marijuana penny stocks to your watchlist? Since Aurora is the most popular penny stock on Robinhood, there are likely tens of thousands of people playing close attention right now.
Top Penny Stocks To Watch: IMC International Mining
IMC international Mining (IMCX – Free Report) has been a penny stock to watch for the last week. Not only did the penny stock see its highest trading volume day on January 15, but it also tested its 2020 high for a second time this year. It’s not a secret that gold stocks have rallied immensely over the last year or so and IMCX appears to have benefited from that bullish sentiment.
The company has focused its efforts on an area of Arizona in the U.S. that has shown potential for gold discovery. The Company’s 100% owned Bullard Pass Property has shown previous production levels that include over 600,0000 pounds of copper, 3,600 ounces of gold, and 15,000 ounces of silver.
Rider: It is noted that the results of nearby or adjacent properties are not necessarily indicative of the potential of the Cathedral property and should not be understood or interpreted to mean that similar results will be obtained from the Cathedral property.
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The company has staked additional claims on the property bringing it to 171 claims. IMC is currently evaluating this property as well. Over the last 8 trading sessions, IMCX stock has jumped by as much as 40% as trading momentum continues to pick up in its market.
Top Penny Stocks To Watch: McClatchy
Another one of the more popular penny stocks to watch right now, McClatchy (MNI – Free Report) has been on the move since the closing bell on January 16. Shares of MNI closed at $0.44 at the time. This continued a near-3-month sideways trend for the penny stock as you’ll see in the chart below. However, since then, MNI stock managed to rally as much as 290% after hitting premarket highs of $1.72 on Thursday.
What was the prime catalyst behind this move? The company announced that it had reached a standstill agreement with the Pension Benefit Guaranty Corporation. This extended a restructuring with key stakeholders. Where this originated comes from initial restructuring negotiations with its secured lenders.
“We want to acknowledge our lenders and the PBGC for working collaboratively and negotiating in good faith to reach a consensus on these important financial matters, which underpin McClatchy’s continuing commitment to publishing independent journalism in the public interest.”Craig Forman, President and CEO of McClatchy
Top Penny Stocks To Watch: Organigram
As one of the actual catalysts for the cannabis industry this week, Organigram (OGI – Free Report) continued its rally. After reporting strong earnings this week, the company released more big news on Thursday. Organigram announced that it secured a supply agreement with Medical Cannabis by Shoppers. If you’re not familiar with “Shoppers,” it’s the online medical platform created by Shoppers Drug Mart.
“We are extremely proud to partner with Shoppers and believe that our complementary approach to the medical cannabis market will offer the full strength of our combined national networks to Canadian patients. We are pleased that we will now be able to offer medical cannabis patients across the country even greater access to our growing portfolio of high-quality products.”Tim Emberg, Senior Vice President of Sales and Commercial Operations
The deal sees Organigram providing Shoppers with a full product portfolio. It includes flower, oil and “other derivative products.” Thanks to this latest update, we’ve already seen shares of OGI stock break above $3.30 during premarket trading on Thursday. That’s a move of nearly 80% since the start of the week.
Top Penny Stocks To Watch: China SXT Pharmaceuticals
Finally, after the latest signing of a Phase 1 deal between China and the U.S., eyes have turned toward emerging markets. But, that may not really be the reason we’ve seen China SXT Pharmaceuticals (SXTC – Free Report) take off this week. After pulling back from its 2020 high of $1.20 last week, shares of SXTC have broken out once again.
This week the company announced regulatory approval of its DNA exam lab. China SXT focuses on R&D, manufacturing, and marketing of traditional Chinese medicine pieces. It may be relatively unique to North America’s general population, however it’s a type of traditional Chinese medicine. Needless to say, the approval of this lab allows the company to perform its R&D and quality control of raw materials and products applying DNA testing technology.
Thanks to this latest update, SXTC stock is back on the move. Shares jumped in early morning trading on January 16. Since Wednesday’s close, this penny stock has managed to rally over 50%. Can that continue through the rest of this week?
Pursuant to an agreement between Midam Ventures LLC and IMC International Mining Corp. (CSE: IMCX) (IMIMF), Midam has been paid $200,000 for a period from January 7, 2020, to February 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to March 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to July 9, 2020. We may buy or sell additional shares of IMC International Mining Corp.(CSE: IMCX) (IMIMF) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about IMC International Mining Corp. (CSE: IMCX) (IMIMF). Full Disclaimer Here