Could These Penny Stocks Be Set For New Highs?
Investing in penny stocks has its advantages and disadvantages. Considering the amount of volatility in the market, in general, it looks like today’s investor is open to some higher levels of risk. Take Tesla (TSLA Stock Report) for example.
Shares of this large-cap stock have skyrocketed over 100% this year alone. That’s not the norm with stocks trading above $400 per share. But given the current market climate with new highs again this week, that seems to have opened some people’s eyes this year.
While 100% gains in a few months is great for any stock, it’s more of a norm for penny stocks. The high risk-high reward mentality is a daily occurrence when it comes to buying cheap stocks. In this same light, within the amount of time it took Tesla to run that high, countless penny stocks have produced hundreds of percentage returns.
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Now, don’t get me wrong, those gains came fast and furious. Some of those same penny stocks dropped just as quickly as they rose. But the fact remains if big gains on quick price moves are your goal – and you’re okay with risk – you may want to start putting together a list of penny stocks to watch.
With this in mind, investors need to keep an eye on the latest events in the market in order to discover the right penny stocks to trade. On that note, here is a look at 5 penny stocks that could be tracked at this point.
Best Penny Stocks To Watch #1: International Land Alliance
International Land Alliance (ILAL Stock Report) is a newcomer to most but its business model is easy to follow. The company specializes in real estate development. Right now its focus is in Baja California, Mexico. Since Mexico is the world’s 15th largest economy with the potential to become 5th by 2050 the location presents new opportunities for companies like International Land Alliance.
Mexico is also the most stable economy in Latin America. Over the next two years, the International Monetary Fund projects a growth of 2.3% and 2.7%, respectively. However, this is just the basis for International Land Alliance. As investors, the goal is to find early opportunities with undervalued companies and right now, real estate stocks have outpaced most markets. Take, for instance, the cannabis industry. One of the top-performing pot stocks isn’t a grower, it’s real estate investment company, Innovative Industrial Properties.
As far as International Land Alliance is concerned, with nearly $30 million in appraised property values, its current market capitalization is disproportionate in comparison to its industry peers. Furthermore, its current project portfolio could present over $70 Million in base-line revenue based on simple metrics.
Where many real estate stocks are trading well above $50 per share with similar assets, ILAL stock traded just above $1 and has managed to climb 25% over the last 6 trading sessions. Could this be a similar scenario to the other low float penny stocks we’ve tracked over the last few months?
Best Penny Stocks To Watch #2 Milestone Scientific
Milestone Scientific (MLSS Stock Report) has been one of the bigger gainers among penny stocks so far this year. In fact, we’ve been covering the company since late-September. At the time the penny stock was trading under $0.90 and has since jumped to highs this week of $2.41. But this 170% move didn’t happen on its own.
The computerized drug delivery instruments maker has executed on several milestones. Recently the company reported an important update on Tuesday. This saw MLSS stock soar another 11% and hitting its 52-week high of $2.20 a share. Obviously, this 52-week high was further eclipsed on Wednesday as shares reached highs of $2.41.
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So what did Milestone announce? The company reported that the disposable kit for its CompuFlo® Epidural System had been awarded the CE Mark approval by the relevant authorities in Europe. Leonard Osser, Interim Chief Executive Officer of Milestone Scientific, stated, “This CE Mark approval overcomes an important hurdle to commercialization in Europe. Based on market feedback, it was evident that anesthesiologists using our instrument preferred to have the disposable kit pre-assembled before packaging to save valuable minutes in the operatory. Albeit a modest change, this modification required us to secure regulatory approval in Europe, which we have now achieved.”
Best Penny Stocks To Watch #3 Abeona Therapeutics
Next, investors could also be watching biotech penny stock Abeona Therapeutics (ABEO Stock Report). Shares hit new highs for February and for 2020 on Wednesday. This came after increased momentum pushed the penny stock higher following a big update this month.
Last week, the company announced that researchers at Abigail Wexner Research Institute presented positive interim data from the Phase ½ clinical trials. This was of its gene therapy products ABO-102 and ABO-101. It is a significant development for the company, and ABEO stock has benefited ever since.
João Siffert, M.D., Chief Executive Officer said, “For ABO-101, the reductions in disease-specific biomarkers are encouraging and demonstrate a clear biologic effect, which parallels that seen in the MPS IIIA study. We look forward to enrolling the Transpher B study as expeditiously as possible.”
ABEO stock was a penny stock we discussed for most of the second half of 2019. We watched as shares rose from August lows of $$1.46 to highs of over $5 in December. Now that it’s pulled back a bit in 2020, shares have once again started to climb. As noted last week, recently filed 13G’s are something to take notice of. They show that institutional investors are building positions in the stock. Take a look at the filings from the month so far, here.
Best Penny Stocks To Watch #4 FuelCell Energy
Next, FuelCell Energy (FCEL Stock Report) continued to hold a place on the list of penny stocks to watch this month. Earlier this week we talked about how the company has begun to climb after its latest announcement.
FuelCell reported that it closed on a tax equity sale-leaseback financing transaction for a 2.8-megawatt project in Tulare, California. This was done with Crestmark Equipment Finance.
This efficient sale-leaseback financing structure enables FuelCell Energy to retain the Tulare BioMAT project in our generation portfolio, enhancing the Company’s recurring cash flows and margin.”
Michael Bishop, Executive Vice President and Chief Financial Officer of FuelCell Energy
FCEL stock has been one to watch this year after it consolidated to lows of $1.50. Similar to ABEO, FuelCell has long-been followed on PennyStocks.com. Last year we saw the penny stock breakout from lows of $0.13 to highs of $3 earlier this year. Now that FCEL has begun to rebound, will the next move push the penny stock to new highs?
Best Penny Stocks To Watch #5 Viveve Medical
Finally, Viveve Medical (VIVE Stock Report) has seen another breakout day on Wednesday. This came after trading on above-average volume for the last few sessions. The company hasn’t reported any mainstream news since January. This was when the company received FDA 510(k) premarket approval for its Viveve 2.0 system.
Something else to note is what was announced in mid-January. Viveve reported that it initiated enrollment in its three-arm, three-month feasibility study of its stress urinary incontinence therapy in women.
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“We look forward to presenting results from this study in the second quarter of this year,” said Scott Durbin, Viveve’s chief executive officer, and director in the press release. So, as we edge closer to the second quarter, this will likely be something to keep in mind. Aside from that, it looks like the filings are the one place to find updated info. That’s at least for the time being. Shares have climbed as much as 117% this month, so far.
Disclaimer: PennyStocks.com is owned and operated by Midam Ventures, LLC. Pursuant to an agreement between Midam Ventures LLC and International Land Alliance (ILAL), Midam is being paid $225,000 for a period from January 31, 2020, to May 18, 2020. We may buy or sell additional shares of International Land Alliance (ILAL) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about International Land Alliance (ILAL). Read our full disclaimer here.
