Coronavirus Penny Stocks #2: Alpha Pro Tech (APT)
Though this is no longer a penny stock after today, Alpha Pro Tech (APT – Free Report) caught the attention of coronavirus stock seekers this week. Last Friday (1-17) shares closed at $3.50 which continued a relatively lackluster month up to that point. However, this week got off to a running start. APT stock opened on January 21 at $4.25 and eventually reached highs of $6.87 on the 24th.
Where does Alpha fit into this mix? Well, believe it or not, it isn’t a vaccine developer and it doesn’t have any biotech pipeline either. Simply put, the company makes face-masks. Think of this as a “picks and shovels” type of play on coronavirus. As basic as it sounds, when there’s a virus outbreak, people cover-up.
And based on the market’s response, they appear to think a lot of people are looking to cover up in the near term. Whether or not that translates to a sustainable move is in the air. But for the time being, Alpha Pro has found itself in the coronavirus stocks list.