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Best Penny Stocks To Buy Today? 1 Up 177% This Month

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Are These On Your Penny Stocks Watch List Right Now?

March has been progressively better for the stock market and for penny stocks in general. After the bearish close to February that erased all of 2020’s gains, this month is much different. Not only are hopes high after an emergency rate cut by the U.S. Federal Reserve, but the market continues to favor volatility. Just to give an example, the S&P and DOW had their worst weeks since the 2008 financial crisis last week. On March 2, the market had one of its best 1-day breakouts in history.

To say investors aren’t used to volatility by now is a pretty big understatement. So, what’s my point? Volatility is something those investing in penny stocks know all too well. It’s also something that has historically scared traditional investors away from approaching penny stocks as viable investment options. But I think it’s safe to say that this vale of uncertainty is starting to lift.

Earlier this year we saw blue-chip stocks like Tesla and Virgin Galactic attract the masses. It wasn’t only for the cutting edge ideas but also the massive swings in price. Again, penny stocks are well-known for this already. Now it comes down to educating the public on penny stock companies that are working to build a business and others that fall into the “Wolf of Wall Street” category.

While the latter can offer potential, they tend to be much riskier due to the obvious threats of manipulation. And if you haven’t seen the movie, just check some of the highlights on YouTube to get an idea. In any case, research is always warranted no matter what kind of penny stocks your watching/buying. With March off to a bullish start, here’s a list of penny stocks making big moves already.

Best Penny Stocks To Buy [or sell]: Zosano Pharma

Zosano Pharma (ZSAN – Free Report) has been one of the top penny stocks to watch this month. While most of the year had been quiet, March has come in like a lion. Earlier this week (and month) shares traded around $0.77. Since then ZSAN stock has managed to climb 60% to premarket highs of $1.25 on March 4. While this is great for those who’ve watched, it’s important to understand what’s triggered such a move, too.

Zosano announced that the FDA accepted its New Drug Application for its migraine treatment, Qtrypta. If you recall, earlier in February, Zosano caught some attention after hitting new 52-week lows. This came after it announced fundraising at a discount to market. We discussed that a big component of potential success hinged on the success or failure of a response from the FDA.

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Considering this latest update, it’s no wonder why shares have taken off the way they have on Wednesday. After getting beaten down so much, will this finally mark a turnaround for ZSAN stock?

Best Penny Stocks To Buy [or sell]: Cocrystal Pharma

This was one of the penny stocks to watch from the start of February. At the time Cocrystal Pharma (COCP – Free Report) had announced that it raised money to further its pipeline. This was when COCP stock traded around $0.67. Since then, we’ve seen how shares skyrocketed to highs of $2.50 but then consolidated toward the end of last month.

March could present new potential for the company as it has just released a new presentation deck showing something very interesting. In a timely fashion, Cocrystal has published via 8K filing its latest investor presentation. Not only does it show previous pipeline info, but it also was updated with license deal info for coronavirus. While this was already announced in February, it does appear to show the company is serious about involving a treatment in its pipeline.

Now, this isn’t anything new so the catalyst may be short-lived. But for those looking at coronavirus penny stocks, COCP could be on the list. If it’s on yours right now and you’re wondering what all the excitement’s about right now, this 8K could be a source. But will it be enough to see continued momentum through the month?

Penny Stocks To Buy [or sell]: Castor Maritime Inc.

Castor Maritime Inc. (CTRM – Free Report) came out swinging right after 9AM on March 4. For most of the year, CTRM has been quiet. In fact, so far, this is the highest share volume day it’s had since last October.

What has fueled this latest surge of attention? Castor reported results for 3 months and year-end 2019. Revenues came in at $2.8 million for 3 months ending December 31, 2019. It was more than 100% higher than in the same period in the period from 2018. On top of that, earnings per share came in at $0.20 compared to a $0.30 loss in 2018’s period. Net revenues also soared for 2019. This came in at $6 million compared to 2018’s $4.4 million in revenue. This news sparked an early move to highs of $2.36 and marked a move of over 175% for the month for Castor Maritime stock. This move has also triggered sympathy momentum for other maritime shippers like Top Ships (TOPS – Free Report), Seanergy Maritime (SHIP – Free Report), and Globus Maritime (GLBS – Free Report)

“We are pleased to report a profitable fourth quarter of 2019, closing our first year as a NASDAQ listed company on a positive note. Despite the current market and rate volatility, our strategy of employing our vessels on medium term charters has insulated us from the currently weaker market and has allowed us to remain profitable and cash flow positive.”

Petros Panagiotidis , Chief Executive Officer and Chief Financial Officer of Castor.

Penny Stocks To Buy [or sell]: Cellect Biotechnology

Another one of the companies with big penny stock news on Wednesday was Cellect Biotechnology (APOP). If you’ve followed PennyStocks.com for a while, you likely recognize this company. It’s been one of the penny stocks in the discussion since August of last year. At the time, shares traded around $0.70. Fast-forward to this month and APOP stock has managed to jump to highs of $3.84 so far.

The company came out with news that along with Canndoc Ltd, the companies entered into a strategic pharma-grade cannabis commercial deal. The goal is to reduce opioid usage. As this is a hot topic right now, the news could be well-timed. Better yet, it isn’t based on coronavirus right now. So for those looking for biotechs that aren’t dependent on a virus vaccine, Cellect could be one of the penny stocks to watch.

[Read More] A True First Mover Advantage In An Industry Outpacing The Market

Right now the deal is in the “intent” phase. But if and when the deal is finalized, Cellect will acquire all rights to the use of Canndoc products from Canndoc. Cellect will also be supplied with 6 tons of GMP pharma-grade cannabis products valued at $18 million. What’s more, is that the two companies have also signed a non-binding letter of intent to fully merge as well. Again, these are in the “intent” phases but will likely become a focus for investors looking to add APOP stock to a penny stocks watch list right now.

By J. Samuel

As a trader and expert finance writer, I enjoy finding new and emerging trends that may have been overlooked by the average masses. If there's one thing that a trader or investor wants to know, it's how to use valuable data to their advantage. My expertise is in uncovering this data and compiling it into actionable information. As a professional finance writer, I've contributed to many of the top finance platforms and pride myself on researching factual, publicly available information and using that in all of my articles.

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