With another big day of news in the broader markets, some penny stocks have already begun to take off. The biggest focus right now is on momentum and what causes these moves in the first place. If you look at some of the pre-market news today, you can already see a bit of a trend forming. Earnings from the biotech, healthcare, and gold industries have investors looking sector stocks.
Not only that but there’ve been big updates from several companies reporting data on recent trials and further approvals from certain agencies. But also keep in mind that as good as this news can be “today,” the market “tomorrow” can be very different. The point here is that you buy penny stocks to make money.
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So, don’t forget to do so when a stock is screaming higher. Greed can be a big driver to hold onto a stock longer than you aimed to do so. In this regard, let’s take a look at a few penny stocks to watch this week. Some have news, others have market momentum but will they make your list of penny stocks to buy right now?
Penny Stocks to Buy [or avoid] This Week:
IMC International Mining
IMC International Mining (IMCX – Stock Report)(IMIMF) has been one of the top junior gold stocks to watch this year. That’s based on the overall trend. Since the start of the year, the company’s stock managed to move 100% in just over 1 month. Furthermore, shares have also managed to hold at higher levels this week. With Barrick Gold stock reporting earnings, it could be a pivotal day for the mining sector as a whole.
This month, things like the coronavirus and further concerns over the global economic landscape have taken hold of the markets. Safe-haven stocks like gold have caught most of the attention as investors look to hedge against things like this and lower interest rates. For many who invest in gold, they may look beyond North America for speculative bets on gold exploration.
However, in the case of IMC International, the Bullard Pass Property could be a huge untapped resource as it stands today. Its property is currently comprised of roughly 3,896 acres in the Harcuvar and Harquahala Mountains in Yavapai County, Arizona. Furthermore, in 1992 the history and geology of the Bullard district were summarized in Arizona Geological Survey Open-File Report 92-1, titled Mineral Deposits of the Bullard District, Harcuvar Mountains, Yavapai County, Arizona. The report states that “the mineralogic and structural similarities of the Bullard and Copperstone districts suggest that potential exists for a major gold deposit in the area of the Bullard district”.
Rider: It is noted that the results of nearby or adjacent properties are not necessarily indicative of the potential of the Cathedral property and should not be understood or interpreted to mean that similar results will be obtained from the Cathedral property.
Penny Stocks to Buy [or avoid] This Week:
Agile Therapeutics
The next penny stock that could be worth watching at this point is that of Agile Therapeutics (AGRX – Stock Report). It has performed impressively on strong momentum over the course of the past few weeks. On Tuesday, Agile stock jumped by as much as 14.5% after the company made an important announcement.
The company announced that it had received a new credit facility worth as much as $35 million. The credit facility is being provided by Perceptive Advisors, and the first tranche worth $5 million has already been disbursed to Agile. If its product Twirla gets approval from the FDA, then Agile would get another $15 million. This has been a long, drawn-out process and Agile has yet to get the full approval of the FDA.
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However, along the way, the company continues to further enhance its product. “This strategic debt financing coupled with our current cash increases our balance sheet strength and positions us well to continue our commercialization strategy for Twirla®, with an expected FDA decision less than one week away,” stated Al Altomari, Chairman and Chief Executive Officer of Agile. In an earlier article this week, we cited the fact that this is a very important event to keep in mind. If the outcome is positive, it could mean big things for AGRX. However, if they come up short again, it could mean a big hit to the company.
Penny Stocks to Buy [or avoid] This Week:
AIM ImmunoTech
AIM ImmunoTech (AIM – Stock Report) is another pre-market mover on Wednesday. This came after the company announced that its CEO will appear on FOX Business Network’s The Claman Countdown and Cheddar’s Opening Bell. Mainly, he will discuss the potential of the company’s Ampligen treatment. Specifically, it will focus on the impact Ampligen might have on the novel coronavirus.
Earlier this month the company reported that it filed 3 provisional patent applications for Ampligen for use against the virus. “Our analysis of the RNA sequences of the SARS virus and the Wuhan coronavirus and our research lead AIM to believe Ampligen has significant therapeutic potential as both an early-onset treatment and prophylaxis against this new and deadly virus. If clinical trials follow the results of SARS animal testing, this means helping people who are already sick as well as a prophylaxis for people directly exposed to the virus as it spreads…,” said AIM CEO Thomas K. Equels.
Today, the CEO will be live throughout the day. So if AIM stock is on your list of penny stocks right now, here’s the breakdown of timeslots and networks:
- Cheddar’s Opening Bell at 10:20 AM ET
- The Claman Countdown on the FOX Business Network between 3 PM and 4 PM ET.
Penny Stocks to Buy [or avoid] This Week:
Acorda Therapeutics
Another one of the penny stocks to watch this week, Acorda Therapeutics (ACOR – Stock Report) could have some upcoming events to note. The company presents new data on its INBRIJA and OFF Periods at an upcoming conference. February 15 is when the company will present at the Pan American Parkinson’s Disease and Movement Disorders Congress. Even though it is over the weekend, it may be important to follow the developments of the conference if this is on your list of penny stocks right now.
The company’s INBRIJA is already approved for intermittent treatment of OFF episodes in adults with Parkinson’s disease treated with carbidopa/levodopa. OFF refers to the periods of time where Parkinson’s symptoms are present. Needless to say, over the last few weeks, ACOR stock hasn’t performed all that well. However, this news appears to have boosted sentiment in the market.
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Furthermore, it will be interesting to see how guests react to the data presented this weekend. I’m sure we’ll hear more about it next week but at least it could be a point of focus for due diligence over the weekend. Shares were up sharply in premarket trading on Wednesday, reaching highs of $2.14; a level not seen since late January.
Penny Stocks to Buy [or avoid] This Week:
CHF Solutions
Finally, CHF Solutions (CHFS – Stock Report) has come out swinging during the middle of the week. The stock has gotten beaten up over the last 3 weeks. This came after CHF announced an equity raise at a steep discount to market. CHF priced an $8.4 million raise at a per-share price of $0.55 a share when the stock was trading around $0.70.
This week, however, things shifted for the company. On February 12, CHF announced that it had initiated a distribution agreement covering Germany, Austria, and Switzerland with a company called Neucomed. This further expanded the company’s commercial presence in the EU. Distribution partnerships now cover 13 countries worldwide.
“With the recently-announced receipt of the CE Mark for our next generation Aquadex SmartFlow™ console, we are able to provide this simple, flexible and smart solution to patients in the EU suffering from fluid overload due to heart failure, cardiovascular surgery and other critical care conditions and are looking forward to working with Neucomed.”
John Erb, chairman, and CEO of CHF Solutions
Will this news finally spark a reversal in trend for CHFS stock? Since late-January, the company’s stock has been trading in a tight range between $0.41-$0.48. Wednesday’s pre-market session saw the stock hitting highs of $0.49.
Pursuant to an agreement between Midam Ventures LLC and IMC International Mining Corp. (CSE: IMCX) (IMIMF), Midam has been paid $200,000 for a period from January 7, 2020, to February 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to March 14, 2020. Midam has been paid an additional $200,000 and extended its period of coverage to July 9, 2020. We may buy or sell additional shares of IMC International Mining Corp.(CSE: IMCX) (IMIMF) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about IMC International Mining Corp. (CSE: IMCX) (IMIMF). Click for full disclaimer.
