Top Penny Stocks To Buy or Sell Right Now; 1 Over 170% In March

Are Markets Indicating A New Bull Trend For These 5 Penny Stocks?

While the market has felt pressure from coronavirus concerns over the last week, the trend could be starting to turn around right now. Since the end of last week, the Dow and S&P have made an about-face. In fact, March began with one of the biggest one-day rallies in market history.

While many blue-chip stocks have gotten a lot of the attention this week, you can’t count out penny stocks whatsoever. In fact, if it weren’t for penny stocks, there likely wouldn’t be the speculative coronavirus stocks that so many traders have cashed in on over the last few weeks. Needless to say, some of the hottest sectors right now are in precious metals, biotech, and even real estate. These have served as potential hedges against the COVID-19 threat right now.

So what is the next focus for investors? Right now, honestly, when it comes to penny stocks, the name of the game is momentum. That’s the beauty of these cheap stocks. Most of the time it doesn’t matter what the rest of the market is doing as long as there are people to speculate on “things”. We’ve seen this time and time again.

While some still write off penny stocks as companies for “noobs” or “training wheels for real stocks,” those actually trading penny stocks professionally are making money. I don’t have to tell you about the massive breakouts that the coronavirus penny stocks made over the last 2-3 weeks. If that isn’t evidenced enough, let’s take a look at a few others that have started to perk up in the market in March 2020.

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Penny Stocks To Buy [or Sell] #1: AIM ImmunoTech

AIM ImmunoTech (AIM – Download Report) is one of the more frequently discussed penny stocks right now. We started covering it back in January just as “coronavirus penny stocks” became a keyphrase. Since then, we’ve watched AIM stock jump from around $0.80 to highs of $3.40. While it pulled back from those highs, AIM has continued to trend in March.

On March 2, shares of the company jumped from around $1.65 to highs of $1.97. While there was no news to go along with it, recent interest in coronavirus stocks again could be a factor. On a broad level, the company works to develop treatments for viral and immune-based disorders. The company’s product, Ampligen was initially designed for a broad range of applications in anti-viral and anti-cancer properties.

Recently, however, the company has taken aim at Ampligen for its potential application for coronavirus. Last week the company reported that it joined with ChinaGoAbroad for an Ampligeen China Entry against COVID-19. AIM CEO Thomas K. Equels said in a press release, “Ampligen achieved a 100% survival rate, as compared to 100% mortality in the untreated control animals, in SARS animal experiments after the outbreak in 2003. In these experiments, Ampligen was administered to mice prior to and shortly after infection. The Company believes that Ampligen may provide similarly effective prophylaxis against COVID-19, as both coronaviruses are extremely similar in key regulatory RNA sequences essential for coronaviral replication.”

Penny Stocks To Buy [or Sell] #2: Vislink Technologies Inc.

Vislink Technologies Inc. (VISL – Download Report) extended gains on March 3. It was one of the penny stocks battling back from 52-week lows this year. In fact, we wrote about how VISL stock reached new lows back in early-February. Obviously that wasn’t the end of the slide either. On Feb. 27, the penny stock inked new lows of $0.15 but since then it has been nothing but going up. Shares reached highs of $0.225 on March 2 and came within striking distance of that high on the 3rd.

Since hitting those lows, the company has been zeroed in on business development it would seem. It appointed a new CFO and further closed a contract with a Government Agency in the Middle East & North Africa (MENA). The deal itself is valued at $400k and helped bring some bullish sentiment back to the beaten-down penny stock.

There wasn’t much of a follow up as far as additional opportunities go. Sometimes companies will outline next steps after “this deal.” But not in this case. Regardless, it was enough to see VISL stock jump at the start of the month. Will it continue into the rest of March?

Penny Stocks To Buy [or Sell] #3: Stealth BioTherapeutics Corp.

Next, Stealth BioTherapeutics Corp. (MITO – Download Report) saw its stock take off on March 3. This came just a few days after MITO stock hit 52-week lows of $1.76. It hasn’t been a great year for Stealth. Shares once traded as high as $20.99 bu steadily declined after that to lows of $4.97 last year. Hopes were high during the 4th quarter as the penny stock had made a rebound to highs of $14.41 before the holidays, then disaster struck again.

So what happened to boost Stealth BioTherapeutics this month? The company had been granted rare pediatric disease designation by the FDA. This is for the company’s elamipretide used to treat Barth Syndrome. Leading up to this, we reported in late February that the FDA granted Fast Track and Orphan Drug designations for elamipretide. Thanks to this news, sharers of MITO stock jumped to highs of $5 on March 3.

“This designation for elamipretide underscores our alignment with the FDA around the significant and urgent unmet medical need for Barth patients,” said Reenie McCarthy, Chief Executive Officer of Stealth, in response to the development. Will this be enough to spark a true reversal or is MITO setting up for another pull-back?

Penny Stocks To Buy [or Sell] #4: Superconductor Tech

While tech stocks have gotten hit a bit this year, Superconductor Tech (SCON – Download Report) has weathered the storm relatively well. The general side-ways trend lent itself to holding a steady base this year. In February we briefly touched on the company as it was exploring strategic alternatives for its corporate direction.

For those who may not be up to speed, companies will sometimes take on exploratory measures. This is usually due to identifying potential risks in the current model and wanting to continue being able to deliver for its sharerholders. In this case, Superconductor seems to have done exactly that. Those who waited patiently are likely very happy with March so far. In fact, since the beginning of the month, SCON stock has jumped from $0.205 to highs of $0.5689; 177.5% for the month.

The company announced on March 3 that it reached a deal to Merge with Allied Integral United Inc. Allied is a wellness company that’s privately held. In any case, upon completion of the deal, Superconductor will change its name to “Clearday Inc.” and focus on non-residential daily care services. Jeff Quiram, STI’s President, and Chief Executive Officer commented, “As we wind down our Conductus® superconducting wire platform, we believe the Clearday transaction has the potential to monetize our cryogenic cooler technology, which was developed as an important part of our overall technology solution.”

Penny Stocks To Buy [or Sell] #5: Diffusion Pharmaceuticals

Finally, Diffusion Pharmaceuticals (DFFN – Download Report) has enjoyed a solid 3 day move so far. On February 28, DFFN stock had started to make a move that has continued into this week. On March 3, the penny stock hit highs of $0.52 during the morning session. This marked a 3-day move of 57% during that short period. So what happened to justify that jump?

That’s the interesting part. The company hasn’t released news since early-February. At the time, Diffusion had been granted a patent related to trans sodium crocetinate compositions. These are used along with radiation and chemo in patients. While the company focuses on cancer, the immune-therapy segment of biotech has received attention recently.

This comes as new concerns build about the spread of COVID-19 across the globe. Whether this is speculation or something else, DFFN stock has enjoyed a solid move so far in March. Something else to note is that filings from mid-February also show interest from the hedge fund community. Both Steven Boyd’s Armistice Capital and Bruce Winson’s Anson Funds show positions in the company.

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