Top Penny Stocks To Watch: Final Week Of February 2020
Penny stocks give many investors the rush they look for when it comes to making quick money. But just because some of these cheap stocks jump and drop quickly, doesn’t mean all penny stocks should be treated the same. As you’ll see in this article, there are several penny stocks to watch that have been on consistent moves higher. Some since the beginning of the year and others for only a few days.
The obvious focus for investors is to make money; that’s a given. But how you go about doing that is most likely specific to your trading style. There are some things you can do that might help to at least find some penny stocks to watch. In this regard, looking at certain industry trends and monitoring stocks within them can give you a bit of an upper hand.
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For instance, biotech penny stocks, mining penny stocks, and even marijuana penny stocks have all found a stronger trend due to industry factors. Biotech, due to coronavirus fears, mining resulting from economic uncertainty, and cannabis thanks to big news from market leaders are all things to take notice of. Now, whether or not you do anything with this information is, of course, up to you. However, with this in mind, here’s a list of penny stocks to watch that have started to trend higher this year.
Penny Stocks To Watch: IMC International Mining
First, on the list of penny stocks, IMC International Mining (IMCX – Free Report) (IMIMF) has been a top performer among gold stocks this year. Since the start of 2020, shares of IMC International managed to climb from $0.25CAD to highs of $0.50CAD. Even after pulling back to lows of $0.40CAD, the gold stock managed to rebound to close last week at $0.45CAD. What’s more, is that its U.S. listing “IMIMF” has also managed to climb considerably this year.
Since beginning to trade in the U.S. on January 28, the penny stock has already climbed from around $0.25USD to a close of $0.34USD last week. The obvious move that gold prices have made could be one of the key catalysts for junior gold stocks like this. In addition, IMC International is also in the midst of a potential acquisition that could open new opportunities in British Columbia. IMC International’s latest development is to acquire Thane Minerals may not seem like a big deal on the surface but Thane’s interest in British Columbia’s Cathedral property could create one of the biggest opportunities in the history of IMC.
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The Cathedral Project is in an area called the “Quesnel Terrane” which is rich in mineralization perfect for gold discovery. The Quesnel Terrane hosts past and planned production of 50 billion pounds of copper, 28 million ounces of gold, and has 16 producing and development projects. Not to mention, it’s just southeast of the prolific Golden Triangle.
Penny Stocks To Watch: Yamana Gold
Next, another gold penny stock to watch has been Yamana Gold (AUY – Free Report). With more than 23 million shares traded, Yamana was one of the most active in the sector on Friday. What has also helped is the recent breakout for gold as well. Gold entered a new phase of growth over the last few weeks as prices have jumped into overdrive. The price of gold has managed to move up 6% to new 7-year highs of $1,652.10 per ounce.
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As far as Yamana is concerned, gold prices aren’t the only things helping boost sentiment in the market. After reporting a strong outlook for 2020-2022, the company announced another major development at the end of the week last week. Yamana reported an update on its exploration program to advance its pipeline of exploration projects.
“Yamana has always taken a long-term strategic perspective,” said Henry Marsden, Senior Vice President of Exploration at Yamana. “We believe that investing in a generative exploration program today will secure our future tomorrow. We have strong prospects in mine-friendly jurisdictions that we know well, and we are confident that they will become a cornerstone of Yamana’s next generation of mines.”
Penny Stocks To Watch: New Age Beverages Corporation
New Age Beverages Corporation (NBEV – Free Report) has been pushing higher this month. If you actually look at the overall cannabis sector, most of the leading pot penny stocks have trended down. But for New Age, it has firmly etched new 2020 highs this month. Ever since the beginning of the month, NBEV stock has steadily increased. At the time shares traded around $1.74 and as of last week, reached highs of $2.84.
This 63% rally didn’t happen by chance. There’ve been several big developments within the industry as well as from the company. First, better than expected earnings results from market leader Canopy Growth (CGC) sparked up momentum for sector stocks. Next, attention from the likes of Kendall Jenner has also boosted sentiment for the stock. One of the company’s brands was listed as part of Jenner’s diet; Kusmi Detox Tea.
What has helped things during the latter half of the month was what the company reported on the 19th. The company announced the launch of its CBD beverage Noni+CBD in Japan through its network of more than 50,000 independent distributors. This could obviously be a big opportunity for the company. But with coronavirus fears still looming, will the outbreak have an impact on this latest deal?
Penny Stocks to Watch: Sundial Growers
Though Sundial Growers (SNDL – Free Report) hasn’t performed the same as New Age, it could become one of the marijuana penny stocks to watch. After plummeting at the end of January, the stock has been in recovery mode. As one of the now many cannabis companies ousting top management, Sundial followed suit.
It’s former CEO Torsten Kuenzlen resigned with board member Zach George taking the open position. Sundial’s executive chairman Ted Hellard also stepped down but remains on the board while Brian Harriman, Sundial’s COO, will depart. Andrew Stordeur, the current President of Sundial’s Canadian operations will take over as COO and President.
As discussed last week, SNDL could have initially triggered as a sympathy play to the rest of the sector. However, that initial move hasn’t ended (yet). The company’s focus on optimizing its operations could have also given reason for some to look closer at the company. Sundial said it has put several streamlining and efficiency initiatives in place and focused on a longer-term approach. In light of these developments, SNDL stock has managed to steadily trend higher. As you can see, since February 11, the marijuana penny stock has managed to climb over 40%.
Penny Stocks to Watch: PAVmed, Inc.
Finally, PAVmed Inc. (PAVM – Free Report) continues to surge. This has been one of the top penny stocks to watch on the site since early January. In the initial article on PAVmed, we discussed how PAVmed’s CarpX clinical safety study met its primary effectiveness and safety endpoints. As a result, it can now proceed with the finalization of clinical reports including diagnostic test results by a U.S. physician.
Furthermore, after regaining compliance with Nasdaq, things appear to have become more bullish. But rightfully so as PAVmed has started announcing even bigger developments over the last few weeks. The company reported that it received Breakthrough Device designation from the FDA for its EsoGuard™ Esophageal DNA Test. This was a big development for the company but it didn’t stop there.
Late last week the company announced two key updates as well. First, its EsoCure™ Esophageal Ablation Device was added to its commercial product pipeline. The devices is targeted for commercialization in 2021. Following that, PAVmed’s majority-owned subsidiary, Lucid Diagnostics Inc. entered into a sponsored research agreement with the Fred Hutchinson Cancer Research Center at the University of Washington in Seattle. This is for the evaluation of Barrett’s Esophagus progression biomarkers in patients using Lucid’s EsoCheck™ Esophageal Cell Collection Device with Collect+Protect™ Technology. Can this momentum continue into the final days of the month?
Disclaimer: Pursuant to an agreement between Midam Ventures LLC and IMC International Mining Corp.(CSE: IMCX), 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. We may buy or sell additional shares of IMC International Mining Corp.(CSE: IMCX) 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). Click For Full Disclaimer.