best penny stocks to watch today

Coronavirus Isn’t The Only Thing Driving Penny Stocks

In a statement made on February 25, economist Mohamed El-Erian said to “resist automatically buying the dip after coronavirus-inspired stock-market sell-offs.” While broader markets jumped early on Tuesday morning, overall sentiment returned to take a bearish stance on the market. However, if you look at penny stocks, you might not have even felt the pressure. That is, depending on which penny stocks were on your list.

One of the great things about these cheap stocks is that they tend to move independently of the broader market. While it’s important to pay attention to industry-specific updates, low-priced stocks tend to move from different catalysts. With this in mind, it’s important to understand that higher volatility in the market can be a catalyst in itself. The reason is that volatility is what creates these big gains in a short period of time.

So what do you do with this information? Use it to your advantage. Knowing that there may be some stocks that aren’t getting smashed in the stock market could be a benefit, obviously. But if you enter the world of penny stocks, you need to keep a few things in mind – risk being the main thing. If you’re used to blue-chip stocks, small and micro-cap equities are a different beast.

[Read More] A True First Mover Advantage In An Industry Outpacing The Market; 1 Stock To Watch

These stocks tend to move quickly and it generally requires a bit more attention than an IRA, for instance. Despite this as the case, if you can stomach a bit of risk, you may want to put together your own list of penny stocks. Here are 6 that have started to make bigger moves this year.

Penny Stocks To Watch: International Land Alliance

penny-stocks-to-watch-International-Land-Alliance-ILAL

International Land Alliance (ILAL – Free Report) has been in an overall bullish trend since last September. Shares of the real estate development penny stock traded around $0.27 at the time and have since moved up by as high as $1.41 this year. Over the course of the past few weeks, the company has focused on expanding its real estate assets.

Tourism officials in Baja California expect to see a 5 to 7% increase in tourists. That’s according to Baja California’s Secretary of Tourism Óscar Escobedo Carignan. Meanwhile, it was named one of the Top 5 places to retire* for the best weather by CNBC. Needless to say, International Land Alliance has amassed land assets with nearly $30 million in appraised value.

Earlier this month, the company announced the opening of a new sales office at the Bajamar Ocean Front Golf Resort. The Bajamar Ocean Front Golf Resort is a master-planned golf community located 45 minutes south of the San Diego-Tijuana border along the scenic toll road to Ensenada. Mauricio Bustamante, Director of Operations, commented, “We are currently utilizing a model home at Bajamar and this new sales office will allow us to connect with our U.S. and international customers quickly and easily. Having a dedicated facility in this prime location will allow us to develop even stronger connections with current and potential customers and provide us access to top talent, so we can give our customers the outstanding service they have come to expect from International Land Alliance .”

Penny Stocks To Watch: Correvio Pharma

correvio pharma (CORV)

Another one of the penny stocks discussed earlier this month, Correvio Pharma (CORV – Free Report) hit new 2020 highs this week. During early trading on Tuesday, CORV stock reached highs of $0.6489 pushing gains for the week to just over 100%.

The company focuses on treating community- and hospital-acquired pneumonia. It has also found itself among the list of coronavirus penny stocks this year. Its Zevtera® / Mabelio® is the specific treatment in question. While more cases continue to pop up, penny stocks like this will likely be a focus.

Read More

What’s important to understand is that the company hasn’t had many new updates to speak of. So just because it’s moving in sympathy with other stocks, doesn’t mean there’s a sole focus, if any, on coronavirus treatment. In light of this, however, shares continue to push higher and its remains one of the penny stocks to watch for the time being.

Penny Stocks To Watch: Genocea Biosciences

Genocea Biosciences (GNCA)

Shares of Genocea Biosciences (GNCA – Free Report) have also turned some heads this month. The biotech penny stock managed to reach highs of $2.37 during early-morning trading on Tuesday. This comes just days after announcing an upcoming presentation.

Genocea will be at the SVB LeerinkGlobal Healthcare Conference. On February 27 the company’s president and CEO presents a corporate overview. While this not seem like a big update, biotech stocks have shown a history of benefiting (or falling) after key presentations at industry conferences. Being that this is the 9th annual conference, it has had time to establish itself in the industry and could be an event to keep in mind.

Besides this, Genocea reported its earnings this month. What’s more is that it cited that its existing cash and equivalents are “sufficient to support operations into Q1 of 2021.” With cash-burn as a key factor of success or failure for biotech stocks, this could also be a positive for the company. In any case, if GNCA is on your penny stocks watch list, 2/27 could be a date to write down.

Penny Stocks To Watch: Spherix Inc.

Spherix Inc. (SPEX) penny stocks to buy sell

One of the top penny stocks to watch on Tuesday has been Spherix Inc. (SPEX – Free Report). The company focuses on small-molecule anti-cancer therapeutics. Its platform is built around therapeutics to treat myriad cancers including myeloid leukemia and acute lymphoblastic leukemia.

Shares of the company jumped on Tuesday after it announced attendance at an upcoming industry conference. The event in question is the AI-ML in Drug Development Summit going on from Feb 24 to 26th. Mr. Anthony Hayes, CEO of Spherix stated, “We believe that the use of machine learning and artificial intelligence in drug discovery and development will be an important part of the future for this industry.  We are excited to be a part of this conference as we continue to work towards becoming a diversified biopharmaceutical company.”

What also may be at play is the company’s share structure. If you take a look on a number of financial sites including PennyStocks.com, you’ll see its current outstanding share count in under 5 million. Based on the current trading price of the penny stock, it could be considered a “low float penny stock”. Given this, in addition to the upcoming conference, it could be one of the reasons why SPEX stock is moving so big this week. Keep this in mind as low float penny stocks can move down just as quickly as they can move up at times. Right now, however, shares have jumped over 230% this week so far.

Penny Stocks To Watch: SPO Global

SPO Global (SPOM) penny stocks to watch

This has been one of the more volatile penny stocks to watch this month. When we first started looking closer at the company, shares traded around $0.12. Since then SPO Global (SPOM – Free Report) jumped as high as $0.68. While this is great, the low share structure was just as harmful as it was beneficial. As we discussed, low float penny stocks aren’t for the faint of heart and volatility can play a big role. In line with this, SPOM stock dropped to lows of $0.1852 over the days to follow its $0.70 high.

This week, SPO Global has once again attracted some attention. This comes as the company reported that its subsidiary partnered with International Health Technologies. SPO’s Gerpang Healthcare Group signed the deal authorizing Shandong Gerpang Biotechnology to apply for certification of International Health’s devices for National Medical Products Administration on behalf of IHT.

[Read More] Top 10 Penny Stocks On Robinhood To Watch For February 2020

Its Bioscan SRT is aimed at the detection of whether the organs are generator qualitative lesions, characterized by a number of criteria. Shares jumped over 15% following this news. The biggest question is whether or not it marks a turnaround for the low float penny stock.

Penny Stocks To Watch: Phunware Inc.

Phunware Inc. (PHUN) penny stocks to buy

Finally, Phunware Inc (PHUN – Free Report) is back on a list of penny stocks to watch this week. It was one of the names on the list of penny stocks on Robinhood under $2 last week. At the time shares traded around $0.90. Since then it has managed to climb to highs of $1.47 on Tuesday.

The initial attention surrounding the company came after announcing a partnership with Cisco Systems. The company debuted a mobile campus solution called On My Way in collaboration with Cisco Systems at South by Southwest. This week the company reported that Cisco Meraki now features Phunware’s Multiscreen-as-a-Service app in its Meraki Marketplace.

Meraki was previously acquired by Cisco back in 2012. Now the company focuses on cloud-controlled WiFi, routing, and security that’s centrally managed. Randall Crowder, COO of Phunware, said, “The Meraki Marketplace will now provide Phunware an important channel to thousands of Cisco Meraki customers across more than 100 countries worldwide who need the very best LBS solutions for their network environments without the risk of deploying unproven technology.”

top penny stocks to buy right now

*References:
https://www.cnbc.com/2020/01/31/where-to-retire-for-the-best-weatherplus-how-much-it-will-cost.html

Disclaimer: 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.


Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 | news@pennystocks.com

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Junior Gold Stocks Creating Massive Opportunity for Investors!

An Immediate Stock Alert is Being Called On: IMC International Mining Corp…

Penny Stock Liberty TripAdvisor Climbed 2,871% In A Day; How?

Shares Of Liberty TripAdvisor Holdings Inc. B Shares Left The Penny Stock…