5 Penny Stocks To Buy Or Sell Before The End Of The Week?
5 Penny Stocks To Watch Before Friday
This week we’ve seen a crazy mix of health concerns and economic uncertainty push the market all over the place. However, following the initial drop, the market has started to recover. Lack of volatility can make investors look for places where there is more wild swings in price. One of these places is penny stocks. These low-priced shares can pop 50% or more within a matter of hours. That pop can also go in the opposite direction.
So it’s very important that you have a plan in place before you decide to buy penny stocks. Most investors will suggest having proper stop-losses in place in case volatility picks up. With stops in place, it can protect your position in the event there is a random sell-off in a given stock.
It’s also important to understand why a penny stock may be moving the way it is. Do your research and track things like news and filings. Also, if you’re new to trading penny stocks, it’s also not a bad idea to check out some of our beginner articles on penny stocks. With this in mind, now it’s time to figure out which penny stocks are ones to buy or which are penny stocks to sell before the end of the week.
Penny Stocks To Buy [or sell] #5: Immutep
Immutep Ltd. (IMMP – Free Report) saw share volume jump on Wednesday with prices reaching highs of $2.40 before the lunch hour. Over the last 3 weeks, the penny stock has seen a boost in daily average trading volumes as well as an increase in its share price. On January 29 the penny stock hit new highs after releasing an update to shareholders.
Immutep reported on the development of its product candidates. These included IMP321 and IMP761. For its IMP321, the company is preparing to give its first data from late-stage AIPAC study in metastatic breast cancer. The anticipated date is sometime in March of this year. According to the company, “If positive, AIPAC results could help to validate an entirely new class of products in immuno-oncology: antigen-presenting cell activators, along with the ‘pushing the gas’ concept.”
“This would be a landmark medical achievement, with metastatic breast cancer just being the first indication of possibly many others to follow. It would also arm the Company with the data it needs to make strategic decisions, paving the way for the creation of very significant value for Immutep and its shareholders.”
Penny Stocks To Buy [or sell] #4: Cannabics Pharmaceuticals
Next, Cannabics Pharmaceuticals (CNBX – Free Report) has been one of the more outstanding marijuana penny stocks to watch since the beginning of the year. While most cannabis names have waffled, CNBX has continued to rise. On January 2, the stock traded around $0.12 and this week it has reached highs of over $0.60.
The company focuses on the application of cannabinoids in cancer. Earlier this month Cannabics reported that in early findings, its cannabinoid Cannabigeral or “CBG” showed to have anti-tumor effects on human stomach and bone cancer cells. This was in comparison to “CBGA,” which is the acidic form of the compound.
Furthermore, through a series of testing, Cannabics also found that the cannabinoid Cannabichromene or “CBC” also exhibited anti-tumor properties when tested on human gastrointestinal cancer cells. Dr. Yaakov Waksman, the company’s head of cannabidiol research, said, “My working assumption is that these results show that a correlation may exist between a cannabinoid’s Topological Polar Surface Area (TPSA) value and its ability to induce anti-tumor activity, diminishing cancer cell’s viability rates.”
Penny Stocks To Buy [or sell] #3: ImmunoGen
ImmunoGen (IMGN – Free Report) held its 3-day uptrend on Wednesday as shares pushed to highs of the week at $5.14. If you’re a long-time reader then you’ve seen IMGN over the last 6 months. We first started following this company back in June of 2019 where, at the time, it traded around $2. Since then, we’ve watched as the biotech penny stock rallied to highs of nearly $6 in December. After pulling back a bit this year, shares have once again begun to head higher starting this week.
At the start of the week, the company announced that it closed a $104.2 million offering done at $4.25. Since then the stock has been in an uptrend. The company has focused on advancing its cancer therapy pipeline. This funding will add to its current capital to fund operations.
The company’s technology platform has been the basis for a number of high-value partnerships for the company. This includes the first-ever ADC approved as a treatment option for HER2-positive breast cancer marketed by Roche, called Kadcyla®. In addition to Roche, we have ADC technology deals in place with Amgen, Bayer, Biotest, Sanofi, and Takeda.
Penny Stocks To Buy [or sell] #2: ToughBuilt
One of the companies that disappointed investors earlier this month was ToughBuilt (TBLT – Free Report). Shares of the company were on a roll and moved from $0.222 to highs of $0.48. Investors piled into the stock leading up to its sales results. After that, shares began to slide right through the end of the week last week. The nail in the coffin came after ToughBuilt announced a $9 million capital raise at a price of $0.21 per share.
In response, TBLT stock fell further to lows of $0.144. However, since then things have been heading back in the right direction. On Wednesday, the penny stock saw its first signs of life as shares jumped to highs of $0.1829 during the first half of the trading session.
A recently filed 13G statement shows that Sabby Volatility Warrant Master Fund has taken a considerable position in the company. This paired with the new cash-infusion seem to have helped boost sentiment in the market. With the planned launch of 14 categories of hand tools during the first half of 2020, will this indicate a pivot point for TBLT stock?
Penny Stocks To Buy [or sell] #1: BIO-key
Finally, BIO-key (BKYI – Free Report) has jumped on Wednesday after the company was featured in a report titled, “Global Biometrics Technology Market Trends, Applications, Analysis, Growth, And Forecast: 2018 To 2027.” In it, BIO-key is listed among several companies “poised to win in 2020.”
“Some of the players from the profiled in the report NEC Corporation, Precise Biometrics AB, Fujitsu Limited, 3M Cogent, Hitachi Ltd, Siemens AG, Nuance Communications, FaceFirst, Suprema Inc, BIO-Key International.”
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- 6 Penny Stocks To Trade Or Fade Before February
The company was selected by Florida’s Orange County Supervisor of Elections to add biometric security to protect access to public records in December. The biggest question here is will BKYI be able to sustain this move? It’s been a frequent occurrence in the market that BIO-key sporadically jumps without much of a consistent move to follow. It could be something to keep in mind heading into the remainder of the week.
