These Top Penny Stocks Continue To Make New Highs
The markets have been in a bit of turmoil over the past few days owing to the coronavirus scare. The virus has now spread beyond China and even places like Germany have confirmed cases, now. Due to the fear of economic slowdown, the stock markets have felt the pressure all over the world.
Despite the losses recorded by many stocks in the market, penny stocks continue to offer opportunities for gains. There were even some cheap stocks that managed to actually reach record levels this month. Those looking to invest in penny stocks could take a look at certain sectors that have shown promise. Obviously, the recent focus on COVID-19 has seen a push for things like biotech penny stocks and gold stocks.
But it’s important to keep in mind that with any surging sector, volatility and risk can play a big role. But if you can handle both, then here is a quick look at five of those penny stocks. At the end of the day, however, it will be up to you to decide if they’re the best penny stocks to buy right now.
Top Penny Stocks To Watch This Week: International Land Alliance (ILAL)
While concerns are high as a result of the coronavirus, certain sectors have felt the brunt of its impact more than others. One of the bright spots has not only been biotech but also real estate. While broader stocks have sold off heavily, many real estate ETFs have managed to weather the storm far better.
International Land Alliance (ILAL Stock Report) could be one of the penny stocks to watch. The company has it has just begun expansion into an area rich in culture but more importantly a high-value location targeted by several markets that are rapidly growing. It’s also worth mentioning that this particular area of Northern Baja California, Mexico has quickly become a hotbed for tourism and even baby boomers looking to relocate. Tourism officials in Baja California expect to see a 5 to 7 percent increase in tourists in 2019, according to Baja California’s Secretary of Tourism Óscar Escobedo Carignan.
Furthermore, estimates put the number of ex-pats in Mexico at well over 1 million and increasing every year. This trend is expected to grow with 10,000 baby boomers in the U.S. reaching the age of 65 every day for the next 19 years thanks to vibrant culture, affordable cost of living and excellent healthcare. These are just a few reasons why a play on real estate could be another hedge against the fall-out from coronavirus right now.
Top Penny Stocks To Watch This Week:
Inovio Pharmaceuticals
Due to the rising coronavirus scare, Inovio Pharmaceuticals (INO Free Report) has been one of the penny stocks to watch. It recorded a 19% in the pre-market session. The virus has recently spread to Iran, Italy, and South Korea, among others. That is an indication that it is slowly spreading globally. Inovio has come up with an experimental vaccine for the coronavirus, and it seems that investors are interested.
Inovio’s vaccine contains DNA with the genetic code of the virus. The company was able to design it within hours of learning the genetic sequence in January. That’s according to Chief Executive Joseph Kim. Additionally, Inovio is working with the Wistar Institute in Philadelphia and two other companies to develop a solution. It expects to begin human testing in a few months.
Top Penny Stocks To Watch This Week:
AIM Immuno
Another penny stock that could be worth watching is that of AIM Immuno Tech (AIM Free Report). It is another coronavirus stock, and due to the continuing panic regarding the epidemic, AIM stock showed bullish trends as well. On Wednesday, shares soared by as much as 14%. Over the course of the year so far, AIM has managed to climb as much as 150%.
Back on February 11, the company had announced that it is ready to enter the fight to tackle coronavirus. It also revealed that it has filed as many as three patent applications for the same. During premarket trading, the company started seeing more momentum. In addition, AIM reported that it joined with ChinaGoAbroad to allow entry of its experimental drug, Ampligen into the People’s Republic of China. The goal is to use it as an early onset therapeutic against COVID-19.
Top Penny Stocks To Watch This Week:
Inflarx
On the other hand, Inflarx NV (IFRX Free Report) emerged as another major gainer. This came on Wednesday after the company made a major announcement. Inflarx announced suitably positive initial data from the Phase 2a open-label study of its product IFX-1.
The product is meant to treat patients who are suffering from Pyoderma Gangraenosum. Initial data suggests that the product could prove to be effective. IFRX stock soared by as much as 16% on Wednesday to emerge as one of the notable penny stock gainers in the market.
Dr. Afsaneh Alavi, Assistant Prof. of Dermatology, University of Toronto, explained, “These are the first reported data investigating complement inhibition in Pyoderma Gangraenosum, and they provide encouraging early evidence that inhibiting C5a may provide treatment benefit for these tremendously suffering patients. A complete healing response in 2 out of 5 patients who failed to respond to standard of care therapy can be interpreted as drug activity of IFX-1 since placebo responses in previous PG trials are known to be low.”
Top Penny Stocks To Watch This Week:
Selecta Biosciences
Selecta Biosciences (SELB Free Report) has proven to be another highly impressive mover. and since the middle of December, it has managed to jump as much as 22%. Back in December, the company announced that it had entered into a licensing agreement with Asklepios BioPharmaceutical Inc. According to the terms of the deal, Askpelios is going to commercialize and develop the Selecta product ImmTOR.
While Selecta continues its progress, the company has also managed to attract attention from analysts. This comes as it has just presented at the SVB Leerink Global Healthcare Conference. Mizuho analysts lifted its price target to $7 from $4 and reiterated a Buy rating on the stock. In addition, Cantor Fitzgerald initiated coverage on Selecta giving it a target of $10. The firm also holds an Overweight rating on the penny stock.
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.
