Are These Penny Stocks On Your Watch List?
Are you looking for penny stocks to buy? Or maybe you’re simply looking to learn about some trending penny stocks to watch right now. No matter what camp you’re in, you’ve come to the right place. We’ve built a track record of finding the top penny stocks trending in the market on a daily basis. But it doesn’t come without its own time-consuming research either.
How To Find Penny Stocks
How do we find penny stocks? Well, by using a mix of stock screeners, researching penny stock news, corporate filings, and scouring hundreds of charts to find what the hottest penny stocks are today. After that, we’ll start putting together a list of penny stocks. This becomes the basis for which companies will get mentioned. A lot weighs on attention from the market and as such, we’ll monitor trading volumes closely.
Sure, a penny stock that’s up 100% is great but if there were only a few thousand dollars traded, it doesn’t necessarily suggest that it’s a liquid stock at all. Of course, there are other criteria we use too and at the end of the day, we aim to make it entertaining, insightful, and informative.
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With the weekend ahead, that gives a few days to sit down without any market noise and research. Here are a few penny stocks that have started to trade higher at the end of the week. Will they be set for momentum next week?
Penny Stocks To Watch: Superconductor Technologies
Superconductor Technologies (SCON – Free Report) is on the list after a noticeably bullish day on Friday. For most of the month, shares were slowly sliding until reaching lows of $0.18 earlier this week. Since then SCON stock has been back on the move and Friday saw a big day of trading volume.
So what happened that could’ve triggered such a move? Well, there was nothing on the news feeds and the last filing was from February 11. As of last month, the company reported a cost reduction plan to align personnel and capital requirements while it “explores strategic alternatives”. This includes things like strategic financing, potential merger opportunities, or an outright sale of the company. In times like this, there’s typically speculative momentum that can drive penny stocks.
I’m not saying that’s definitely what’s happening here. But without any new updates and the company reiterating its “strategic alternative” angle, there could be some speculation helping to bring attention to the company right now. In any case, shares closed green on Friday and may be on watch lists next week.
Penny Stocks To Watch: China Jo-Jo Drugstores Inc.
Next, China Jo-Jo Drugstores Inc. (CJJD – Free Report) had a similar day as SCON on Friday. Shares were sliding for most of the month but aggressively reversed course at the end of the week. What got it to this point was a tumble after reporting earnings for its third quarter for its fiscal 2020. But what’s interesting is that the company realized a bump in most metrics including revenue, gross profit, and a net income vs net loss from the same period in its previous year. However, the company did see gross margins decrease.
Mr. Lei Liu, Chairman and CEO of Jo-Jo Drugstores, commented, “We delivered outstanding financial results for the third quarter of 2020, with revenue recording $33.36 million, up 7.9% compared to the same period of last year…We will continue to focus on successful execution of our long-term growth strategies to unleash the full potential of our consumer-centric healthcare business model and create value for all shareholders.”
Without new news or filings, we should take a look at the market. We’ve got a China-based pharmacy with growing revenue. Meanwhile, there’s a coronavirus outbreak that just got a new life after reports from South Korea. While there may be no company catalyst at play, there could be speculation based on the new virus cases. If the trend continues over the weekend, CJJD could be one of the penny stocks to watch next week.
Penny Stocks To Watch: Aytu BioScience Inc.
Aytu BioScience Inc. (AYTU – Free Report) shares managed to hold the line on Friday. What I mean by this is that the stock has been under pressure recently. But, AYTU stock managed to hold higher lows than its previous trading day. The initial slide came after the company reported its Q2 2020 fiscal revenue aftermarket on February 13. Shares popped on the morning of the 14th but quickly started to fall. They didn’t stop falling until the 20th after hitting lows of $0.67.
So what happened that AYTU stock may have started to rebound? Well, on the 20th an amended 13D filing shows that Armistice Capital, LLC and Steven Boyd hold a sizeable position in the company. Furthermore, we can’t forget about what the company just did this week. Not up to speed, let’s get you there.
Aytu announced something that may have gotten missed. The company closed on its acquisition of Innovus Pharmaceuticals, which essentially creates a specialty and consumer pharma company with revenue of roughly $43 million according to its press release. On the day it was actually announced, the stock dropped. However, Friday saw the penny stock trade its highest share volume all year and rebound to highs of $0.795 after hours. Will this continue into next week?
Penny Stocks to Watch: Oragenics Inc.
Finally, Oragenics Inc. (OGEN – Free Report) had a strong close on Friday with after market trading as well. Overall, the penny stock had a great month so far. Shares jumped from around $0.45 to highs of $0.77. After consolidating, OGEN stock is back on the move once again.
The biotech penny stock initially started to move leading up to its presentation at an industry conference. There were also several FORM 4s filed showing insider movement in the stock too. After the conference came to a close, the stock slid back a bit but still maintained a relative level of support around $0.50. There may be a few things at play right now to note with Oragenics.
First, the company specializes in antibiotics to fight infectious diseases. Coronavirus-FOMO may be a factor right now as it was with other stocks today. But, what’s more, has to do with a previous announcement made in December of last year. Oragenics reported the completion of enrollment of its Phase 2 clinical trial for AG013 in Oral Mucositis.
Specifically, Alan Joslyn, Ph.D., President and Chief Executive Officer of Oragenics, stated, “With the achievement of this significant corporate milestone, we remain on track to report results from this study in early 2020.” I’m not trying to connect any dots but with it still being “early 2020,” this could be another topic of discussion for those watching this penny stock in my opinion.