The Big Game Is This Weekend; Looking or Some Penny Stocks To Watch?
The biggest game in football will be hosted in Miami, FL this weekend but what does that mean for penny stocks? Well, honestly, not much but when people are spending thousands on football tickets, they’re likely looking to make some money too. This is where we see penny stocks taking a bit of the spotlight.
Since there are only a few days until the weekend, there aren’t many asset classes that might return significant gains with small cash outlays. That is if you’re not considering small-cap stocks and micro-cap stocks. These types of equities are known for their explosiveness. As we saw this week, even the smallest catalyst or rumor can send shares soaring.
Penny Stocks To Watch
Also, it doesn’t have to be a rumor either. In the article, “4 Penny Stocks To Watch Expecting Key Data Soon,” I cited a few companies that already announced key dates to pay attention to. During the time leading up to these dates, the stocks had made a strong move.
Some of them have even continued on higher yet. Needless to say, the point of the matter is that it didn’t take years to see a breakout of 40% or more; it took days. So heading into the last few days before the big game, let’s take a look at a few penny stocks that have shown a bit of bullishness toward the end of the week.
CytoDyn (CYDY)
I don’t think I need to go into detail of how long we’ve watched this OTC penny stock. But it’s been a while and we’ve seen shares of CytoDyn (CYDY – Free Report) rocket to a new high after new high since December. As discussed in this article, CytoDyn has found itself among the growing list of coronavirus stocks recently. Simply stating things like “we’re exploring applications to treat patients with the virus,” raises eyebrows. In the case of CYDY stock, those eyebrows have helped give the sentiment a big boost this week.
Shares of the company reached highs of $1.35 after a strong push of buying during power hour helped this penny stock hit fresh 52-week highs. Now, CytoDyn isn’t “just a coronavirus stock,” it has also worked on a true pipeline of therapies mainly for breast cancer.
So whether it’s coronavirus-related or not, the company has other things in its wheelhouse. Case in point, CytoDyn presents data on its HIV therapy on March 26 at the Simian-Human Immunodeficiency Virus at the Keystone Symposia on HIV Pathogenesis and Cure.
Nio, Inc. (NIO)
Next, one of the “love/hate” penny stocks on this list, Nio Inc. (NIO – Free Report) could grab attention. This comes after popular EV car maker, Tesla (TSLA – Free Report) reported blockbuster earnings on Wednesday. Considered as a “sympathy play,” stocks related to EV, in general, may catch some attention during the second half of the week.
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As for Nio, the company is in expansion mode. Earlier this month reports circled about talks with Guangzhou Automobile Group pledging some $1 billion in funding to the company. Though no further details have been confirmed, it was enough to trigger a rally in the stock.
In addition, the company has reported plans for building out more brick and mortar brand locations. No matter the case, it could be Tesla that helps drive momentum for sector stocks. Elon Musk’s company reported an earnings beat and set a goal of selling more than 500,000 vehicles in 2020.
Clearside Biomedical (CLSD)
Clearside Biomedical (CLSD – Free Report) has been on our radar since September of last year. At the time we released this article, shares traded around $0.65. Along the way, we’ve watched how this biotech penny stock has managed to climb as high as $3.95. After pulling back during the first few weeks of 2020, Clearside appears to be making another attempt at an uptrend.
This week the company announced that with Bausch Health, the companies’ Phase 3 data of XIPERE was published by the journal, Opthalmology. The journal reported how patients in the study experienced “clinically significant improvement” in vision compared to the control group.
“The publication of our positive Phase 3 XIPERE clinical trial results is an important milestone for Clearside as it expands the understanding of our suprachoroidal treatment approach,” said Thomas A. Ciulla, M.D., MBA, chief medical officer, Clearside Biomedical. Will CLSD stock return back to its $3.95 highs following developments like this?
Milestone Scientific (MLSS)
Shares of Milestone Scientific (MLSS – Free Report) has quietly made a move of 102% since we first began talking about it on PennyStocks.com. On Wednesday, the penny stock extended its gains during one of its biggest 1-day sessions of the year.
This came just one day after the company gave a big update. Milestone reported on January 28 that and international expert on peripheral nerve blocks (PNB) and consultant to Milestone concluded that the company’s CompuFlo is the only device of its kind capable of reducing the risk of needle injury during PNB procedures. According to the company, the PNB market “represents an attractive and untapped growth market for CompuFlo technology.”
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Leonard Osser, Interim CEO of Milestone Scientific, Inc. stated, “We are very excited about the research that Dr. Choquet continues to conduct, as he is on the cutting edge of regional anesthesia and his team is making important contributions to the field. I am grateful that he recognizes the value in our technology and has agreed to be part of our team. Overall, the PNB is a large, growing and untapped market for our CompuFlo technology.”
