Robinhood Penny Stocks #2: MannKind Corporation
MannKind Corporation (MNKD Stock Report) has been steadily gaining ground in 2020. After closing out 2019 below $1.30 a share, the penny stock has managed to climb as high as $1.88 this year. Over the past few weeks, it consolidated but on February 20, MNKD stock seemed to have caught a breath of fresh air.
Much of that “fresh air” may have to do with its latest update. As we’ve discussed in the past, biotech companies love to foreshadow events. In a similar fashion, MannKind announced that it’s presenting data at an upcoming conference over the weekend. It also gave poster presentations on Thursday, too.
At the International Conference on Advanced Technologies & Treatments for Diabetes MannKind will highlight the results of studies on its Afrezza inhalation powder and BluHale system. “These presentations highlight original studies of Afrezza in individuals with both type 1 and type 2 diabetes, and include initial studies of Afrezza in pediatric patients,” explained David Kendall, Chief Medical Officer of MannKind. Will these additional updates over the weekend help boost MNKD stock or was Thursday just a head-fake?
