Top Penny Stocks Making Waves This Month
Another week’s in the books and another round of penny stocks have produced some serious gains. This week we saw the resurgence of coronavirus penny stocks take the market’s attention once again. Though the breakouts weren’t as large as we saw previously, we were still able to witness a few cheap stocks leave the penny stock range. What’s that mean? Well, not much besides the fact that one of the quickest ways to gain direct exposure to the speculation machine.
While the “Johnson & Johnsons” and “Gileads” of the market see fundamental interest, those looking to secure quick gains have focused attention on penny stocks to record swift gains. So, will coronavirus penny stocks be in focus yet again next week? That’s a great question and one we’ll likely have clarity on later this weekend. Right now, we know that 21 people have tested positive from the cruise ship held off the coast of California.
[Read More] Coronavirus: 4 Penny Stocks To Watch
We also know that confirmed cases now surpass 100,000 across the world. There’s still a good chance that no one really knows the full blowback of this as it relates to the economy either. But in the meantime, we look for new opportunities and follow the trends to identify potential in the market. With this in mind, here’s a short list of penny stocks to take a closer look at before Monday.
Penny Stocks To Watch: International Land Alliance
One of the sectors to weather this coronavirus storm has been real estate believe it or not. One of the biggest reasons behind the trend has to do with the coronavirus and China. The residential real-estate market was already in a bad place before the outbreak began in Wuhan. Fast-forward to right now and the market in China is moving at a snail’s pace. According to a survey by China Merchants Securities, sales of new and existing homes dropped 90% from the same period of 2019. That number was closer to 98% based on a survey by Huatai Securities and now investors are looking for investment opportunities in other places in the world, like North America.
International Land Alliance (ILAL–Free Report) for instance, could be offering a unique opportunity for its clients. It is a land investment and development company building a portfolio of exclusive properties. Its main target areas are in an untapped area of development in Baja California, Mexico. And right now, International Land Alliance could present an immediate opportunity to be among developers in a growing market area that has become increasingly popular for tourism, retirement, and you guessed it, investment.
On top of that, with nearly $30 million in appraised value, the current market capitalization is disproportionate in comparison to its industry peers. With such industry growth and so few companies offering easy access International Land Alliance could be in a position to capitalize on several fronts.
Penny Stocks To Watch: Digirad Corporation
Shares of Digirad Corporation (DRAD-Free Report) took off right out of the gate on Friday morning. After closing on Thursday at $3.19, the penny stock shot up to highs of $8.84 during the early morning session. While the stock eventually consolidated later in the day, it still managed to close the week above $6.80. Similar to International Land Alliance, Digirad has operations in real-estate development, investment, and construction.
In September 2019, Digirad completed the acquisition of ATRM Holdings, Inc. and converted from being a healthcare services provider into a diversified holding company operating with three business divisions. On the company’s recent earnings call, Digirad Chairman Jeff Eberwein explained, “For our Building & Construction division, our focus will be on expanding our client and geographic footprint for residential and multifamily real estate construction projects and also expanding our commercial construction business…For 2020, we provide guidance as follows. Revenue between $125 million and $145 million, non-GAAP adjusted EBITDA between $7 million and $9 million and free cash flow between $4 million and $5 million.”
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Aside from this guidance, Digirad also came out with record earnings. For the fourth quarter of 2019, as compared to the same quarter of 2018, its total revenue increased by 39.4% to $36.1 million and gross margin increased 112.2% to $7.9 million. For full-year 2019, as compared to full-year 2018, total revenue increased by 9.6% to $114.2 million and gross margin increased by 21% to $22.1 million. So, it’s no wonder why the market saw some excitement. Will that continue into the next week?
Penny Stocks To Watch: Cocrystal Pharma
Earlier in February we first caught onto Cocrystal Pharma (COCP-Free Report) just as it completed a funding round. For the most part, shares had gently slid for a few days afterward but then COCP stock shot up to 2020 highs of $2.50. Considering it was trading around $0.60 when we first covered it, that was one epic breakout. Eventually, the parabolic run ended with heavy consolidation back down to around $1. But after today, Cocrystal could be back on the move once again.
While Cocrystal has benefited from coronavirus concerns, its latest update might have finally opened up the doors wide for this company. After the market closed on March 6 the company announced a big update. Cocrystal announced it has initiated its Coronavirus program. Shortly after, the penny stock jumped to aftermarket highs of $1.89. Will this continue into the month ahead?
“Following our acquisition of patent rights and know-how from KSURF and our recently completed financing, we are aggressively pursuing the development of novel antiviral compounds for the treatment of Coronavirus infections using our established proprietary drug discovery platform. Given the global threat of COVID1-9, our primary goal is to advance our Coronavirus program into preclinical development. We will seek opportunities for collaborations as we advance our programs.”
Dr. Gary Wilcox, Chairman and Chief Executive Officer of Cocrystal
Penny Stocks To Watch: Altimune Inc.
Finally, Altimune Inc. (ALT-Free Report) managed to hold March gains on Friday. While shares have skyrocketed over the last few weeks, unlike COCP, ALT stock hasn’t plummeted “back down to earth” the same way. Late last month the company entered the coronavirus penny stocks list after releasing an update about one of its treatments.
Altimune announced the advancement of a single-dose, intranasal vaccine using its proprietary technology to protect against COVID-19. According to the company, Altimmune completed the design and synthesis of the vaccine and is now advancing it toward animal testing and manufacturing.
Given the timing of all of this, it was very beneficial for ALT stock. “Our intranasal vaccine technology is especially well suited to provide systemic protection against respiratory infections that affect the upper and lower airways and can, therefore, be a useful tool in preventing further spread of COVID-19,” said CEO Vipin Garg. “As such, we are actively engaged in discussions with a number of potential partners.”
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Thanks to this development, Altimune has been able to ride this wave. The biggest question now is what’s next for the company? I think we’ll know more as it gets closer to Monday morning. But for now, ALT stock has turned heads in the market this week.
Disclaimer: 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). Click for full disclaimer.
