Penny Stocks Making Waves This Month
Penny stocks offer high risk and high reward option for investors in the stock market. For aggressive investors, it can often prove to be an effective way of making money in the market. At the same time, it should be kept in mind that penny stocks can often prove to be quite volatile.
Hence, it could be a good move to keep track of the latest developments from certain low-priced stocks. Here is a look at 6 penny stocks that could be tracked by investors.
Penny Stocks to Buy [Or Sell]: Clearside Biomedical
Last but not least, in our list of penny stocks is Clearside Biomedical (CLSD Free Report) that could be tracked by investors in light of recent events. On Tuesday, Clearside Biomedical announced positive results from the Phase 3 clinical trial of Xipere. The medicine in question is meant for treating uveitis-associated macular edema.
The positive data was released in the well-know journal, “Ophthalmology.” It is a highly positive development for Clearside. What is also highly positive is that the company is jointly working on this project with one of the largest eye health companies in the world, Bausch Health. It came as no surprise when CLSD stock rallied by 10.50% and continued higher on Thursday.
Penny Stocks to Buy [Or Sell]: IMC International Mining
Thanks to new data from China on the coronavirus, fears grew on Thursday. This triggered a sell-off across several sectors. However, one that has performed well in the wake of all of this has been gold. Specifically, junior gold stocks have seen a boost over recent weeks. IMC International Mining (IMCX)(IMIMF Free Report) has followed suit. Since the early days of January, the gold stock has managed to climb from $0.25CAD to highs of $0.42CAD on Thursday. This 60%+ move hasn’t gone unnoticed either.
Daily trading volume has picked up and IMC now has the ability to trade in the United States under the symbol “IMIMF.” Prior to this, the gold penny stock could only be traded on Canadian exchanges. The company has 100% ownership in the Bullard Pass in Arizona.
Though it is underdeveloped, historic production has been shown. Furthermore, geological reports from the State suggest that the mineralogic structure of the location has the potential for gold discovery.
Penny Stocks to Buy [Or Sell]: Advaxis
After dropping a few days ago, Advaxis (ADXS Free Report) has once again begun to climb. The company announced a $10.5 million financing which sent shares tumbling. However, that seems to have changed during the second half of this week.
Thursday, the company announced that its clinical program data will be presented at upcoming medical meetings. This may not seem like a big announcement but the latest trend may suggest otherwise. As discussed in the article, “4 Penny Stocks To Watch Expecting Key Data Soon,” data presentations can be catalysts themselves.
Dates to keep in mind with Advaxis are February 13, 22, and 27. The company will discuss results from studies done on its ADXS-PSA, ADXS-503 and pipeline of immunotherapies. As with any speculation, it may not signal penny stocks to buy immediately but does suggest to keep certain things in mind. These dates are some of them, in my opinion.
Penny Stocks to Buy [Or Sell]: Datasea Inc.
Datasea, Inc. (DTSS Free Report) has dramatically reversed trend on Thursday. Shares had been fading lower since the end of December. However, even with this as the case, DTSS stock continued to trade in a channel that was much higher than it traded at prior to mid-October. The company focuses on security products aimed at smart security and education-related technologies.
This week the company announced that it engaged Dragon Gate Investment Partners to head up its investor relations program.
“We are pleased to engage Dragon Gate Investment Partners as our investor relations representative,” said Ms. Zhixin Liu, Chairman and CEO of Datasea. Aside from this, no other details have emerged to suggest such a huge move for the penny stock
Penny Stocks to Buy [Or Sell]: Lianluo Smart Ltd.
Another one of the penny stocks to watch recently has been Lianluo Smart Ltd (LLIT Free Report). Shares jumped earlier this year from around $0.35 to highs of $2.82. After pulling back to lows of $1.50 earlier this week, LLIT stock is back on the move. A move of more than 560% doesn’t just come out of nowhere.
The company is a Chinese based firm providing smart services and products for the medical industry. The company has a product designed for respiratory solutions. The obvious concern over the coronavirus has investors focused on all aspects. The “pick and shovel” angle has anything from facemask companies to companies like Lianluo in focus. Shares traded as high as $2.67 during Thursday’s premarket session.
Penny Stocks to Buy [Or Sell]: China SXT Pharmaceuticals
Finally, China SXT Pharmaceuticals (SXTC Free Report) is no stranger to being on a list of penny stocks to watch. Earlier this month it hit our radar amid news that it received regulatory approval of its DNA exam lab. The company also reported plans to boost production of its entire line of products.
Unlike other pharma stocks related to traditional medicine, China SXT focuses on Chinese medicine. This includes different powders, scales, and other traditional Chinese medicines. Though it hasn’t been explicitly stated, China SXT may also have found itself in the mx of coronavirus stocks.
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Those who look toward traditional remedies in certain cases may find China SXT’s products as options. Could this be one of those instances?
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