5 Penny Stocks To Trade [or Avoid] Before The Weekend
Investing in penny stocks has often proven to be a quick way of making substantial returns from a small account. Over the years, many investors have made fortunes through these stocks. Hence, there’s always a focus on finding the next big penny stock to buy before the market catches on.
The first quarter of the year is always exciting because tax-loss selling has ended while the first earnings season comes into play. Last week we saw bank earnings suggest strength in the financial sector. However, based on what we’ve seen from the World Economic Forum, that could be very different on a global level. When there’s uncertainty and volatility in markets, investors have tendencies to turn toward penny stocks to capitalize on big swings.
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However, this isn’t just as easy as randomly looking at 3-5 letters and saying, “buy.” You need to put in a lot of research and watch the market closely in order to discover the best penny stocks. Here is a closer look at 5 stocks that could be put into penny stock watch lists by investors at this point in time.
Penny Stocks To Trade [or Avoid] #1 Aethlon Medical
The first on this list of penny stocks, Aethlon Medical (AEMD – Stock Report) has taken off again. Starting this week, shares of AEMD stock raced to highs of $2.90 during early trading on Tuesday. It has seen a remarkable rally so far this year. At the start of 2020, shares opened the year at $0.97. After these January 21 highs, AEMD stock has managed to run nearly 200% this year alone.
So what’s become a driving force for this penny stock and can it continue to act as a catalyst? A lot has to do with the recent global concern over the coronavirus originating in China. The company’s immunotherapeutic devices have the ability to combat viral infections.
Obviously, things like this can act as good short-term catalysts based on buzz. However, the company itself hasn’t come out with additional statements. Regardless, the potential pandemic that can result from the latest health scare in China may be enough to garner more attention around the stock.
Penny Stocks To Trade [or Avoid] #2 Trovagene
Next, Trovagene Inc. (TROV – Stock Report) caught a strong boost on Tuesday morning (1-21) after releasing an update. The actual information was more of a foreshadow to what’s to come this weekend. On Saturday (1-25) the company presents at the American Society for Clinical Oncology 2020 Gastrointestinal Cancers Symposium. It will go over its poster presentation featuring safety and efficacy data from a Phase 1b/2 study in colorectal cancer.
This comes a little over a month after the company reported positive study data for its Leukemia treatment. Keep in mind that we’ve seen plenty times in the past at how penny stocks can surge leading up to and after a big presentation is made.
As this presentation is days away, could speculation take over and continue driving momentum. On the other hand, will this just be a short-lived move from this biotech penny stock? Something to keep in mind as Saturday gets closer.
Penny Stocks To Trade [or Avoid] #3 Titan Pharmaceuticals
The third penny stock that has gained attention is Titan Pharmaceuticals (TTNP – Stock Report). Shares made significant gains over the course of the past few weeks. In fact, since the start of 2020, shares of Titan Pharmaceuticals have rallied by more than 100% so far. Furthermore, trading volume has continued to increase on a daily basis.
So what has helped boost the action for this penny stock? Last week, the company announced that its product Probuphine (buprenorphine) had been added to the Federal Supply Schedule.
Essentially, this opens the door for Titan to provide U.S. veterans and other federal government agencies access to Titan’s 6-month maintenance treatment for Opioid Use Disorder. This extends to more than 9 million VA beneficiaries and others within the federal system.
Penny Stocks To Trade [or Avoid] #4: Viveve Medical
Viveve Medical (VIVE – Stock Report) also got off to a running start on Tuesday. After the extended weekend, shares rapidly pushed higher during premarket trading to kick-off the week. Right at the open, Viveve jumped to highs of $1.60 and marked a move of more than 50% since last Thursday.
The interesting part about Viveve is that there hasn’t been much by way of news from the company. That’s been the case up until this week. The FDA’s site showed the company received FDA 510(k) premarket approval for its Viveve 2.0 system. This comes just days after Viveve reported that it had initiated enrollment of its short-term feasibility study in stress urinary incontinence.
“We are pleased that patient enrollment in our SUI feasibility study has begun and anticipate rapid enrollment towards completion of the study…Initiation of this study represents a significant milestone in our clinical development program and our effort to achieve label expansion of our CMRF technology for the improvement of SUI in women,” said Scott Durbin, Viveve’s chief executive officer and director.
Penny Stocks To Trade [or Avoid] #5: Biocryst Pharmaceuticals
Finally, Biocryst Pharmaceuticals (BCRX – Stock Report) shot higher on Tuesday. Similar to Aethlon, Biocryst benefited from the added attention on vaccine-related stocks. The epidemic in China is reminiscent of what we saw when SARS, Ebola, and even Zika were prevalent in the public health system.
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The company is developing a pipeline of potential treatments for a number of rare diseases. Biocryst just appointed a new Chief Commercial Officer and VP/General Manager for the U.S. to strengthen its commercial rare disease team. Furthermore, the company has just come off of its big presentation at the J.P. Morgan Healthcare Conference last week.
Will this health scare in China continue to push BCRX stock higher this week? That’s definitely highly speculative in nature but something to keep in mind and follow as more cases of this Wuhan Coronavirus increase.