Some financial outlets may tell you that all penny stocks should be avoided like the plague. But it really comes down to your personal strategy. No matter the investment, if you are well-educated, fully aware of the risks, and see an opportunity to capitalize, what’s there to avoid? One of the biggest goals of this site is to inform the retail public. We talk about top penny stocks, some things to watch, and potential things to avoid. We want to give a general sense of the market landscape so you can research further.
While we don’t give buy or sell recommendations, many of our articles have featured companies that went on to score big. Needless to say, I’m here to report on what’s hot right now. The coronavirus has made a bit difficult for traders to find breakout stocks. But on Monday, there are actually several penny stocks making big moves already.
The question now is: will they be the best penny stocks to buy this week or should you avoid them entirely? At the very least, they may be some companies to add to your list of penny stocks to watch before next month.
Penny Stocks To Watch: International Land Alliance
First, on this list of penny stocks, International Land Alliance (ILAL – Free Report) has seen market momentum building over the past few weeks. Last Friday, the penny stock traded its highest share volume of the year. What has helped bring attention to this company?
Since late November, International Land Alliance has been building upon its asset portfolio. Initially, the company completed site prep for its Costa Bajamar Oasis Condo project. This was followed up with pre-sales at one of its newest communities, Valle Divino. This is the Company’s 20-acre project located roughly 50 miles south of San Diego. The project consists of 132 residential lots and 3 commercial lots.
In total, International Land Alliance has amassed a real estate portfolio with nearly $30 million in appraised value. Currently, it owns a total of five different real estate development properties consisting of over 600 acres of land. These properties are all located in southern California or Northern Baja California, Mexico. According to the company, once fully developed, the properties could potentially yield over 1,500 lots and over $70 million in potential revenue.
Penny Stocks To Watch: Harmony Gold
Harmony Gold stock (HMY – Free Report) joins a long list of gold penny stocks to watch. Over the weekend more concern grew over more coronavirus cases. Furthermore, the global economic slow-down persists. In light of such events, many investors have flocked to safe-haven stocks. Gold stocks are one of these safe-havens.
In the case of Harmony, shares have been climbing aggressively since the middle of the month. On February 11, HMY stock hit lows of $2.74. This week the stock already hit highs of $4.63 during premarket trading on the 24th.
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The company recently selected purchased AngloGold’s remaining South African assets. While a number of gold miners have pulled out of this area, Harmony sees it as an advantage. After making the $300 million deal, Harmony Chief Executive Officer Peter Steenkamp explained the company’s stance. On a conference call, he said, “We don’t think it’s a bad thing to be the last man standing.”
Penny Stocks to Watch: China Pharma Holdings
Like I discussed earlier, the coronavirus has become a lasting issue in the market. It has also created a whole new set of penny stocks to watch. This has become known as “coronavirus stocks” and created big demand. As we’ve seen the cult-like following for some stocks like Tesla and Virgin Atlantic, these stocks draw a lot of speculative attention. After this weekend, it’s no wonder why many are soaring this week.
There haven’t weren’t any announcements made this year by China Pharma (CPHI – Free Report). There aren’t any new disclosure statements either. But a quick look at the company’s website and you’ll see that they offer anti-viral and respiratory drugs. Specifically, it focuses on “the development, manufacture, and marketing of pharmaceutical products for human use in connection with a variety of high-incidence and high-mortality diseases in the People’s Republic of China.
Considering the extent of the virus outbreak in China, there may be a little bit to go off of. But be aware that no matter if its cannabis stocks, bitcoin stocks, or coronavirus stocks, hype can be a curse and a blessing. In many cases, hyped stocks may break out big and fast. They can also fall just as aggressively. So if any coronavirus stocks are on your penny stocks watch list, make sure to keep this in mind.
Penny Stocks To Watch: Correvio Pharma
Next, Correvio Pharma (CORV – Free Report) may be on the list of coronavirus penny stocks to watch. Other than some news on non-compliance with NASDAQ, there hasn’t been much new from the company. However, the company does focus on specialty pharmaceuticals.
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When it comes to COVID-19, symptoms mimic the flu and other respiratory illnesses. Correvio’s portfolio could have taken on some interest from investors recently. Of course, this is in light of the latest virus figures over the weekend. Its Zevtera®/Mabelio® is a cephalosporin antibiotic for the treatment of community- and hospital-acquired pneumonia.
If you’ve been following reports of the virus spread, you know it’s not segmented to individual homes anymore. Now we’re seeing hospitals, jails, and other close-quarter buildings show signs of outbreaks. Given the circumstances, this is likely one of the key points of focus right now. The biggest question is will momentum be able to continue? The penny stock has gotten beat down for months. It’s yet to be seen if this is just a glimmer of momentum in sympathy with the sector or if Correvio actually started firming up a reversal. In any case, CORV stock has enjoyed a 3rd consecutive day new highs.
Penny Stocks To Watch: Senseonics Holdings
Finally, one of the other penny stocks that’s been frequently discussed is Senseonics Holdings (SENS – Free Report). Since the first time it was discussed, SENS stock has climbed higher. At the time, shares traded around $1.12. As of this morning, the penny stock managed to reach early highs of $1.68.
So what has helped drive momentum? Initially, Senseonics reported a positive coverage decision for its Eversense continuous glucose monitoring system from Cigna. Obviously, a health service company the size of Cigan could be a big opportunity for the company. But progress hasn’t stopped there.
This week the company announced more key developments. Senseionics reported data that its system showed real-world use across adult age ranges. Katherine Tweden , PhD, Vice President, Clinical Sciences at Senseonics explained, “This real-world data with the use of the Eversense CGM system demonstrated that glucose targets, including time in range and time in hypoglycemia, was achieved or nearly achieved across the adult age range. This data provides more real-world evidence on the clinical value and benefit of Eversense CGM.”
Thanks to developments like this, SENS stock has attracted some pretty notable investors. Soros Fund Management filed a Schedule 13G recently. It shows the firm holding a 5.09% stake in the company.
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