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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