Can The Latest Penny Stock News Spark More Momentum For These Companies?
If there’s something that can become a quick catalyst for big moves for penny stocks, it’s news. Corporate updates tend to impact these low priced shares especially if the update is significant. We’ve all seen how even the slightest bit of optimism can trigger a huge move up. We’ve also seen how even the slightest bit of pessimism can trigger a huge shift down. Given this as the case, it’s always important to keep your position protected.
What I mean by this is it’s very important to make sure you take profit where you can. The reason is that if you forget about a certain Phase Trial update or earnings presentation, you could be risking your hard-earned gains. In such cases, traders will hold what they call a “core position” and then trade around that core. Typically this core is purchased at the lowest prices attainable.
Needless to say, by practicing this method, you’re more likely to capture the majority of your profit by trading. If you really like the stock or company, then your core will likely be smaller in relativity to what you’ve traded. In any case, these are a bit more advanced ideas if you’re new to penny stocks. However, with that in mind, let’s take a look at a few penny stocks with news that could be on watch lists later this week.
Penny Stocks With News: Aethlon Medical
This has been a frequently discussed penny stock on the site. We first began discussing Aethlon Medical (AEMD – Free Report) this year on January 13th where it was trading around $1.30. In our article, “5 Top Penny Stocks To Trade Or Avoid Right Now?” we talked about Aethlon’s share structure. At the time, the total outstanding share count showed at less than 4 million shares. Since the publicly traded float won’t be higher than the outstanding share count, this could be considered a very low float penny stock.
In true form, we’ve seen how dramatically this penny stock can jump. In fact, since we started watching, AEMD stock has rallied by as much as 161% to highs of $3.40. Thanks to help from the Chinese coronavirus scare, infectious disease drug developers have gotten some play this week.
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Furthermore, late in the Wednesday trading session, Aethlon reported that it completed its previously announced $3.77 million offering at $2 per share. Where you might think the stock might have pulled back, aftermarket trading saw shares climb. Will AEMD continue to be a top penny stock to watch this month?
Penny Stocks With News: eMagin Corp
Next, eMagin Corp (EMAN – Free Report) raised some eyebrows earlier this month. The company closed a $1.4 million order for Collins Aerospace Helmet Displays. However, the biggest day of the year so far came just a few days ago. There wasn’t any news or filings to speak of. But the penny stock traded more than 680,000 shares and reached highs of $0.5275. The next day it was all consolidation.
However, this is one of the penny stocks on this list for a reason, right? After the market closed on January 22, the company reported an update on its fourth-quarter financials. It also announced management changes. Relating to financials, the company estimates revenue to range between $7.1 million and $7.3 million. That would become a 31%-34% jump in comparison to its previous year’s fourth-quarter figures. There’s also a backlog of scheduled open orders for delivery through the end of this year valued at $11.7 million.
Chief Executive Officer Andrew Sculley said, “Our core military business is benefitting from the ramp-up in the volume of the Company’s existing programs as well as new programs. In addition, we continue to have productive discussions with consumer companies interested in the high brightness and superior resolution of our displays for potential AR/VR applications.”
Penny Stocks With News: CytoDyn
Another one of the penny stocks we’ve discussed over the last few weeks, CytoDyn (CYDY – Free Report) saw another big volume day on Wednesday. When we first mentioned it in our article, “Penny Stocks To Trade After Breaking News” it was trading around $0.35. Since then we’ve watched as the penny stock rallied as high as $1.18. During the weeks to follow, we’ve discussed this company amid a series of key updates.
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Once again, this week, we’re looking at CytoDyn after releasing news. This morning the company announced results from its clinical trials evaluating its breast cancer treatment, leronlimab. Nader Pourhassan, Ph.D., president, and chief executive officer of CytoDyn, added: “We are thrilled to see these additional data that further support leronlimab as a potential treatment option for patients with mTNBC and MBC. As a Company, we look forward to continuing our work in the oncology space and developing a potentially safe and effective treatment option for patients suffering from this deadly disease.”
What’s more – and something we always keep in mind – is that the company is set to present at an upcoming conference this week. Though it isn’t a biotech-focused conference, the company will present tomorrow at 9:30 AM PT / 12:30 PM ET. Considering what was just announced, it will be interesting to see what else the company has to say.