Are These Coronavirus Penny Stocks On Your Watchlist?
We are into the last month of the first quarter, 2020 and coronavirus penny stocks are still very relevant right now. In January, we first started hearing rumors of a “new” or “novel” flu-like virus affecting Wuhan, China. Fast-forward a few weeks and we have an all-out pandemic on our hands. The virus is now hitting every major populated continent right now. While every industry has been impacted one way or another, that impact has posed both risks and opportunities. So, it’s vital to pay close attention to key pieces of information.
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Here’s what I mean. The virus isn’t killing an exorbitant amount of people compared to the number of confirmed cases. But, since there’s no vaccine, it’s causing major disruptions. The European Central bank is even testing ways to operate should it need to shut down offices. Obviously, the “work from home” idea is the first step to test, which is what the ECB did on Monday.
So where are opportunities right now? Look at the 30k foot view. What do you need to live? Food, water, medicine, etc. What industries are traditionally viewed as safe-havens? Gold & precious metals historically see investors looking for a flight to safety during times of market disruption. With this in mind, here’s a look at a few penny stocks to watch right now.
Penny Stocks To Watch: Gold
First, you can’t talk about a sector to watch during market uncertainty without discussing gold stocks. It’s also worth a close look since the price of gold just got a huge boost last night. The price of gold traded above $1,700 for the first time since December of 2012. Since revenue for these companies depends on the price of gold, higher prices translate into the potential for higher earnings. What’s more, is that during times of big moves (both up and down) the junior gold stocks tend to react more aggressively. When gold is on the move higher, gold penny stocks can see massive gains.
IMC International Mining (CSE:IMCX) (OTC:IMIMF)
First, IMC International Mining (IMCX-Free Report)(IMIMF) has been one of the top gold penny stocks to watch this year. Earlier in January, shares only traded in Canada around $0.25CAD and have since moved as high as $0.50CAD. There was a similar move made once the U.S. listing went live at the end of January.
Needless to say, IMC International has been one of the only gold stocks to have weathered the storm from late February when the entire sector took a hit. When most of the major gold stocks dropped some 13-20%, IMC didn’t fluctuate much.
Aside from the price of gold, there is something else investors should take note of. It involves very specific timing. Aside from its current gold asset in Arizona, IMC International announced in February that it entered into a letter of intent to acquire Thane Minerals, owners of the Cathedral Property in British Columbia. It’s located in the Quesnel Terrane, host to past and planned production.
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.
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It’s also just southeast of the prolific Golden Triangle region of British Columbia. The Golden Triangle is so named because it hosts some of the richest gold ore bodies in the world, as well as abundant silver, nickel and copper deposits.
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.
Penny Stocks To Watch: Biotech
One of the top sectors taking the spotlight right now is biotech and the biotech stocks that make up the sector. A vaccine has become a key focus for everyone. Obviously, biotech/pharma are the standouts. It seems that any company with either a coronavirus headline or some pipeline treatment related to upper respiratory or immune treatments has gotten attention.
AIM ImmunoTech (NYSEAMERICAN: AIM)
This was one of the top coronavirus penny stocks to watch for a few weeks now. This week, however, SIM ImmunoTech (AIM-Free Report) came out with news and an update for its potential coronavirus treatment. According to the update, the National Institute of Infectious Diseases in Japan will begin testing AIM’s drug Ampligen as a potential treatment for COVID-19.
“As we have been saying all along, this emerging pandemic is caused by a virus that has nearly identical regulatory RNA sequences to the original SARS coronavirus, known as SARS-CoV-1, in respect to pathogenesis. This means that the prior studies of Ampligen in SARS-CoV-1 animal experimentation may predict similar protective effects against the new virus. The WHO has recently renamed this emerging, highly pathogenic virus as SARS-CoV-2,” said AIM CEO Thomas K. Equals. Shares have jumped over 600% since the beginning of the year. Much of this move came as the coronavirus concern began circulating.
LightPath Technologies (NASDAQ: LPTH)
Another one of the coronavirus penny stocks to watch this year is LightPath Technologies (LPTH-Free Report). Playing off of the fear in the market, LightPath has used it to its advantage. The penny stock began making its bigger move in February. At the time the company reported its financial results for fiscal Q2 2020. The company beat estimates compared to Wall Street analysts. Furthermore, it followed up these results with the announcement of a big contract win ($2.8 million) for an order of its BD6 thermal imaging assemblies from a “major defense contractor”.
This week, LightPath continued to update on new progress. The company received new orders totaling over $1.7 million in the Asian market for medical and sensing applications. Jim Gaynor, of LightPath, stated, “These new orders demonstrate the continuing and accelerating demand in the marketplace for LightPath’s innovative infrared products. Many of these products are used in various medical applications being utilized to combat the spread of the novel coronavirus.”
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Since the start of February, this penny stock has managed to make a significant move. At the time it was trading around $0.60. This week, shares of LPTH reached highs of $2.10 during premarket trading on March 9.
Vaxart Inc. (NASDAQ: VXRT)
Another one of the popular coronavirus penny stocks, Vaxart Inc. (VXRT-Free Report) put in new highs for March this week. The company focuses on treatments for H1 influenza. The similarities between the flu and COVID-19 are quite evident at this point. Specifically for Vaxart, the company directly addressed plans for a coronavirus solution earlier this year.
Back in January, the company reported that it has initiated a program to develop a coronavirus vaccine candidate based on its proprietary oral vaccine platform, VAAST. “Vaxart’s proprietary technology has been clinically proven in humans, and the ability to make an oral vaccine to meet this current public health threat is very important to all of us at Vaxart,” said Sean Tucker, Ph.D., chief scientific officer of Vaxart.
Shares of VXRT stock have continued to push toward new highs and new cases remain a top focus for major news headlines this year. Previously, the company cited that the results of a recently published influenza challenge study demonstrated that its oral tablet vaccine primarily protects through mucosal immunity. This has been a key factor when targeting mucosal pathogens such as this new coronavirus. Will it signal new potential for Vaxart this year?
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). Click Here For Full Disclaimer.
