penny stocks in sight watching

While The Stock Market Slides, These Penny Stocks Are Pushing Higher

The markets have swung up and down in dramatic fashion this week. Wednesday’s session was no different and the S&P ETF (SPY – ETF Report), for example, dropped over 5%.

Meanwhile, the U.S. President is set to meet with banks to discuss options and address the potential fall-out of the markets. How things will end up later this week is still hard to say.

[Learn More] 5 Key Lessons Guaranteed to Make You a More Profitable Trader

With the World Health Organization finally labeling the coronavirus a “Pandemic,” the markets are back in panic mode. What I don’t seem to understand is the fact that the WHO already labeled this a “global health emergency” so for things to get this volatile with nearly a similar statement with a different label is overkill in my opinion. But I digress.

Penny Stocks To Watch

Even as the markets are getting beaten up a bit, there are still plenty of opportunities right now. Given the fact that it’s a risky environment as it stands right now, penny stocks might be right on par with the rest of the market for once.

So what are some top penny stocks to watch right now? Here are a few you might put on your list of penny stocks to trade this week after some bigger moves recently.

IMC International Mining

Gold Stocks in Canada to Watch IMCX

While most gold stocks got smoked this week, IMC International Mining (IMIMF – Stock Report)(IMCX) is actually weathering the storm very well. In fact, shares of IMIMF stock closed green on Wednesday by 2.33%. That’s something the broader markets couldn’t come close to on March 11. While price and volume have remained consistent, one of the prime outliers in focus is the company’s pending acquisition.

In February, IMC International signed a letter of intent with Thane Minerals to acquire the company. Thane owns the 51k+ acre Cathedral Project in northern British Columbia. Via the acquisition, the company would gain immediate access to the property, which is in the Quesnel Terrane. Why does this matter?

Quesnel hosts past and planned production. So this could be a big step for IMC if and when it closes the deal. To that end, investors are likely monitoring the situation closes after a press release that stated IMC plans to firm up the deal by March 15. Due to the timing, it could be a key component behind the momentum IMC International is seeing in the market right now.

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.

China Pharmaceutical Holdings

coronavirus penny stocks China Pharma Holdings, Inc. (CPHI)

Unlike Clearside, China Pharmaceutical Holdings (CPHI – Stock Report) didn’t have anything to report today. However, its shares jumped after the bell on March 11. The company last announced that it had launched a new product: a wash-free sanitizer. When you talk about breakout industries like the coronavirus has become, you look at a few angles. One of these angles is a vaccine, of course. Another is a more “pick and shovel” approach.

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The company doesn’t have a novel drug but it does have something every store seems to be running out of, which are sanitizing products. The latest statement by the WHO has sparked up attention on coronvirus-related penny stocks again.

Since China Pharmaceuticals Holdings has fallen into the category, it makes sense right now. What will be interesting is to watch how the market opens on March 12 for CPHI stock. For now, China Pharma stock seems to have reversed the course for the first time since March 5th.

Clearside Biomedical

penny stocks to buy Clearside Biomedical (CLSD)

Would you believe the first time this was mentioned on PennyStocks.com, Clearside Biomedical (CLSD – Stock Report) stock was trading just over $0.70? Since then, we’ve continued to watch as shares managed to not only rally to highs of $4.13 but it also maintains a price level above $2 a share. While the SPDR S&P ETF just hit new 52-week lows, shares of CLSD stock has come even closer to its 52-week high following big news on March 11.

After the market closed on Wednesday, Clearside came out with a bunch of bombshells. The company initially announced a license agreement with a company called Arctic Vision for Clearside’s patented technology, XIPERE. It’s designed to treat macular edema associated with uveitis. The deal will see the XIPERE footprint expanding in Greater China and South Korea.

In addition to this, Clearside appointed a new CEO and President, Dr. George Lasezkay as well as reported its Q4 and full-year 2019 financial results. In response to everything that came out, Lasezkay explained, “As we continue to progress our XIPERE program and partnerships, we are working together with Bausch + Lomb and our commercial manufacturer to ensure the most thorough and highest quality New Drug Application (NDA) resubmission. We currently expect to resubmit our NDA for XIPERE by the end of August 2020 and believe the FDA will review the NDA within six months of receipt of the resubmission.”

Lasezkay also cited the collaboration deal announced today. It adds $4.0 million in an upfront payment to its balance sheet with the possibility of additional revenue through future milestone payments up to $31.5 million and royalties on product sales.

iFresh Inc.

penny stocks to trade iFresh Inc. (IFMK)

Once again, shares of iFresh Inc. (IFMK – Stock Report)made a move higher on March 11. In fact, since the start of the year, IFMK has climbed by as much as 156%. Believe it or not, the company has found itself in the coronavirus category as well. If you’re about to click over to its “about page,” we have you covered. iFresh is an Asian/Chinese grocery supermarket chain in the U.S. So why is it a coronavirus penny stock?

Think about what you need in the event things get quarantined. Groceries are probably right around the top of that list. iFresh is positioned right now as a grocery store but also a delivery company.

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Specifically, it offers an in-house proprietary delivery network along with online sales channels. Shares of IFMK traded around $0.85 after the market closed on Wednesday. Will this continue to move higher this month?

penny stocks to watch right now

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). Full disclaimer here.


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