Are These The Best Penny Stocks To Buy Right Now?
When most people look for penny stocks to buy, they’re looking to make quick money. So if this is what brought you to the article, keep that in mind. All too often, traders will fall in love with a certain stock. They forget all about actually making money with penny stocks.
In order to do that, you need to sell that stock and take your profit. But we can’t ignore the greed factor. If a stock is up 20% maybe you think, “if it goes just a little higher I can make X.” The fact of the matter is that there will always be more penny stocks to buy. Also, you can always rebuy penny stocks after you sell if you think there’s still potential.
So when it comes to identifying the best penny stocks to buy, take into account a few things. This includes the time frame you anticipate holding the stock. You’ll also want to plan possible exit points to take profit at, and possible stop loss levels to either break even or minimize losses. When it comes to “the best,” it’s a very subjective scenario and it is all based on your personal strategy.
Best Penny Stocks To Buy [or ignore] Genius Brands
First, on this list of penny stocks, Genius Brands (GNUS – Free Report) has caught some momentum today. There’s been no news from the firm. There haven’t been any new filings posted either. The company creates entertainment content for children and thanks to the delivery of some of its series to Netflix (NFLX – Free Report), the company enjoyed a nice boost in the 3rd quarter. The last update from the company was its Q3 earnings report. In it the company showed a 563% increase in revenue for the quarter.
As far as filings are concerned, the company posted 2 disclosure statements this month. One shows the company has a shelf registration to raise up to $50 million. Additionally, holders of shares of Series A Convertible Preferred Stock of Genius Brands International, Inc. converted some of these shares into 3,171,428 shares of the Company’s common stock.
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One might assume dilution could become a risk here but about a week after filing these, shares of GNUS are up significantly. In fact, the stock reached highs of nearly $0.45 on Wednesday. It will be interesting to see if there will be a potential catalyst revealed that could have been the source of this recent momentum.
Best Penny Stocks To Buy [or ignore]: Inuvo Inc.
Inuvo Inc. (INUV – Free Report) also saw share explode on Wednesday. This was actually a company we discussed during the latter part of the 3rd quarter last year. Though it’s had its share of strong spurts of momentum, this week saw its highest activity day yet. Inuvo ran to highs of $0.439 on heavy share trading volume.
Similar to GNUS, there hasn’t been much by way of news or filings this week. however, the company is coming hot off the heels of an update last week. Inuvo announced the expansion of its IntentKey services. It will now offer it to a “national auto insurer” after successful test performance. Though this “national insurer” wasn’t listed by name, it was enough to get the market and company excited.
Tristan Cameron, Director of Sales said, “Inuvo’s IntentKeyTM was able to automatically reach prospects who had exhibited a similar content consumption journey to those who had filled out an online application for insurance, delivering results up to 86% higher than the PSA tests.”
Best Penny Stocks To Buy [or ignore]: China Jo-Jo Drugstores
As much as we hear that’s bad coming out of China this week, China Jo-Jo Drugstores (CJJD – Free Report) was something good this week. Shares of the Chinese pharmaceutical distributor rose to highs of $2 so far. This continued a relatively bullish uptrend that began back in November. At the time, shares traded around $1.20 so this move has definitely been noticeable.
As of its last announcement, the company reported its second-quarter 2020 results. The company saw smaller earnings per share loss as well as increased revenue from the same period in its 2019 report. Mr. Lei Liu, Chief Executive Officer and Chairman of Jo-Jo Drugstores, commented, “We are pleased to announce our financial results for the second quarter of fiscal year 2020, with revenue increasing by 3.4% compared to the same period last year. We made great strides in boosting our business and optimizing our operation. As a result, our gross profit had a 15.5% increase and gross margin had a 2.4 percent points increase in the second quarter of 2019.”
What may have also helped things along was a filing from January 21. The company will hold a shareholder meeting in March to discuss several topics. Of note, it looks to elect 6 directors.
Best Penny Stocks To Buy [or ignore] Trillium Therapeutics
Trillium Therapeutics (TRIL – Free Report) has been one of the best penny stocks to watch since early December. This is when we first began discussing the company and its progress. At the time, TRIL stock traded around $0.50 and has since moved to highs of $3.90 this week. This 680%+ move has been fueled by strong progress and trading momentum.
Earlier this month Trillium reported upbeat results with its cancer treatment programs. The company’s TTI-621 and TTI-622 dose-escalation and dose-finding progress demonstrated a viable potential and warranted further study by the company.
Dr. Jan Skvarka, President and Chief Executive Officer of Trillium said, “The program continues to demonstrate clear single-agent activity across a range of hematologic malignancies, as well as a strong tolerability profile. We believe that TTI-621, even at these low initial doses, is the only anti-CD47 agent that has shown meaningful single-agent activity, including complete responses.”
A new 13G Filing this week shows increased interest from institutional investors this week. On January 21, Empery Asset Management filed the form. It showed a 4.99% stake in the company. Something else to keep in mind is the company also announced that it intends to launch a public offering, however, the offering price wasn’t revealed yet.