4 Penny Stocks To Watch For March 2020
Whether you’re a pro or novice, penny stocks have a place in the market for all traders. These speculative, low priced stocks have captivated the attention of investors for their ability to produce quick gains. This week the spotlight shined bright even as the market saw its worst week since the financial crisis. What was the reason?
Investors were on the hunt for coronavirus stocks. Similar to what we saw with Ebola, Zika, SARS, MERS, etc. COVID-19 is the latest flavor of the year. The viral disease has spread across continents and infected tens of thousands. While comparisons have been made more closely to the flu, the big concern isn’t about death tolls rising right now. It’s about how the sickness will impact the global economy.
With manufacturing shutting down overseas and schools and public buildings closing, there’s a real fear that the already slow economy may slow even further. There have also been talks of lowering interest rates further. While the Gilead’s and Johnson & Johnsons of the world may be mainstream for biotech, investors wanted in on the speculative action. Where have they gone?
Traders focused on penny stocks. Some of these ended up running thousands of percentage points in a matter of days. While some traders start to feel the negative effects of a parabolic, overly-hyped stock sell-off, others are looking to fundamentals to point at some penny stocks to watch for March 2020. Will these be on your list?
Top Penny Stocks To Watch For March 2020: IMC International Mining
First, on this list of penny stocks, IMC International Mining (IMCX – Free Report)(IMIMF) is one of the penny stocks in focus this year. The increase in the price of gold has helped boost interest in junior gold stocks like IMC. But unlike most of the sector, shares haven’t really consolidated as aggressively.
It’s especially true when looking at some of the industry leaders like Barrick Gold stock or Newmont Gold stock. Needless to say, investors looking at IMC International could pay particular attention to the timing of its recent updates. More specifically, the company’s pending acquisition.
Earlier this month IMC reported that it signed a letter of intent to acquire Thane Minerals. Thane’s 100% owned Cathedral property spans over 51,000 acres in Northern British Columbia. Given the nature of the region, this latest update could be a reason why it remained one of the top gold penny stocks to watch this quarter. The Cathedral property is within close proximity to two sites that have produced 3 million ounces of gold and 700 million pounds of copper. There are also significant measured and indicated mineral resources on neighboring mines.
Rider: It is noted that the results of nearby or adjacent properties are not necessarily indicative of the potential of the Cathedral property and should not be understood or interpreted to mean that similar results will be obtained from the Cathedral property.
Top Penny Stocks To Watch For March 2020: CHF Solutions
Next, CHF Solutions (CHFS Free Report) has mounted a comeback of sorts before March. After falling to 52-week lows of $0.30 on February 27, the penny stock bounced on the 28th. It’s easy to see a biotech penny stock and immediately think it’s a coronavirus stock. However, with the case of CHF Solutions, there’s more to it than the hype of a niche.
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This month the company announced several milestones. These included distribution deals for Germany, Austria, and Switzerland for its products. This adds to the current partnerships covering 13 countries worldwide as well. The company also received FDA 501(k) clearance for its Aquadex SmartFlow system in pediatric patients weighing over 20kg. John Erb, chairman, and CEO of CHF Solutions said that, “FDA clearance for pediatric patients is a significant milestone for the company and the result of strong execution from our team.”
In light of these developments, shares seemed to have reversed course for the better so far. CHFS stock managed to reach highs of $0.49 before Friday’s closing bell. While it’s been a volatile month for the stock, it looks like it heads into March right around where it kicked off February. Will this latest update help fuel further gains at the start of the new month?
Top Penny Stocks To Watch For March 2020: Pulmatrix Inc.
Pulmatrix Inc. (PULM Free Report) also saw a choppy month of February. But that might change heading into March if some traders are to be believed. The company hasn’t reported much news this year. However, its last update could shed some light on a little potential for the company.
At the end of January, Pulmatrix announced receipt of FDA Fast Track Designation for its Pulmazole. Its purpose is for the treatment of Asthma-ABPA. Why could this be a big deal for Pulmatrix? Fast Track is a process designed to facilitate the development and expedite the review of drugs to treat serious conditions and fill an unmet medical need. The main goal is to get treatment out to patients faster. It also gives the company an option for more frequent interaction and communication with the FDA.
The company also joined forces with Johnson & Johnson JNJ for their Lung Cancer Initiative at the start of the year. While its Fast Track treatment is targeting asthma, its relationship to respiratory illness can’t be ignored either. So, for now, PULM could be one of the more quiet coronavirus penny stocks to watch with other applications as well.
Top Penny Stocks To Watch For March 2020: Senseonics Holdings
Finally, Senseonics Holdings (SENS Free Report) rounds out the short list of penny stocks. The company recently received the okay to extend its study on its Eversense glucose monitoring system. The study will focus on a group of more than 35 patients our of the 181 PROMISE study members. The goal of this extension is to obtain feasibility data on safety and accuracy for a full year.
While this is a new update for the company, SENS stock has been one we’ve followed for a while now. Previously, Senseonics reported a positive coverage decision on its Eversense system from Cigna. This was a big step for the company as it aligned it with a leading health service company. Furthermore, the company reported data that showed the system in a real-world setting. As these are all strong milestones for the company, SENS has also attracted the likes of big institutions.
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Soros Fund Management filed a Schedule 13G recently. It shows the firm holding a 5.09% stake in the company. So, with shares maintaining levels over 50% where the stock began the month, could it become one of the top penny stocks to watch in March?
Disclaimer: Pursuant to an agreement between Midam Ventures LLC and IMC International Mining Corp. (CSE: IMCX) (IMIMF), 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. Midam has been paid an additional $200,000 and extended its period of coverage to July 9, 2020. We may buy or sell additional shares of IMC International Mining Corp.(CSE: IMCX) (IMIMF) 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) (IMIMF). Full disclaimer here.
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