Penny Stocks To Watch This Week
There’s no denying the fact that penny stocks can produce massive gains. I’m sure that’s half the reason why you clicked on the title of this article anyway. But these gains can come quickly so it’s very important to understand how to trade penny stocks before you jump right in.
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If you’ve got that part taken care of and just want to start finding good penny stocks to buy, then you’ll need a plan. What kinds of penny stocks are you looking for? Are you trading based on momentum or are you buying based on fundamentals? How long do you plan on being in the trade or how much percentage gains are you aiming for? These are all great questions to have answers for and design a trading strategy around.
Lately, the coronavirus has sparked up a lot of interest in things like biotech penny stocks, gold penny stocks, and even real estate development stocks. In most cases, investors are looking to either take advantage of potential vaccines or protect their portfolios via safe-havens.
No matter where you stand, you’re here to learn about penny stocks and maybe even find some penny stocks to buy. While I’m no financial advisor and won’t tell you what to buy or sell, here’s a list of penny stocks to watch that have picked up momentum this year.
Penny Stocks To Watch: IMC International Mining
First, a popular gold penny stock to watch has been IMC International Mining (IMCX-Free Report)(IMIMF). Why? When it comes to gold stocks, the name of the game is striking gold. What do companies need to do that? They need claims with the potential for gold discovery. You need to consider things like mineralization, location, and past production. IMC International, specifically, has a mining asset in Arizona that had shown mineralization that could support gold discovery.
But there’s something that could be more pressing right now. IMC International just announced a letter of intent for a major acquisition. On top of that, earlier this month, a follow-up announcement shows IMC plans to close on the deal by March 15. The importance of the acquisition (of Thane Minerals) is that the company being acquired owns 100% of the Cathedral Property in northern British Columbia.
This is just south of one of the most famous mining regions in North America, the Golden Triangle. More specifically, Cathedral is located in the Quesnel Terrane. This area’s host to past and planned production. Given the current circumstances with the price of gold, along with the timeliness of this acquisition, IMC International could be one of the top gold penny stocks to watch 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.
Penny Stocks To Watch: IMAC Holdings
IMAC Holdings (IMAC-Stock Report) saw its shares gap up on Wednesday. After hitting new 52-week lows earlier this month at $0.50, IMAC stock jumped to highs of $1.38 during premarket trading. While normal market hours had shares trading around $0.82, it could be one of the penny stocks to watch following its latest announcement.
IMAC Holdings announced that the U.S. Department of Labor named IMAC Regeneration Centers as an approved provider of medical treatment, physical therapy, and chiropractic services for the Office of Workers’ Compensation Programs. In addition to the DOL and OWCP programs, the U.S. Federal Government Department of Veterans Affairs recently named IMAC as a recognized provider in its Community Care Network.
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How will this translate to revenue for the company? That will obviously be seen over the next few months. For now, this latest update comes as the company has also been expanding on its leadership team and board of directors.
Penny Stocks To Watch: Mallinckrodt PLC
One of the newly minted penny stocks, Mallinckrodt PLC (MNK-Stock Report) traded above $5 a share most of this year. Getting caught in the crosshairs of the opioid epidemic didn’t help its cause. After sliding to lows of $2.01, MNK stock might be starting to turn things around a bit. This comes after the newest update from the company released on March 11.
Mallinckrodt announced that the company and its specialty generics-focused subsidiaries reached an agreement in principle. This was in terms of a global settlement. It would effectively resolve all opioid-related claims against the company and subsidiaries named. This was released on February 25th. This week, however, the company follow-up on this and cited that NY State Attorney General has joined with 47 other state Attorneys to support the previously announced settlement.
Mark Casey, Executive Vice President and Chief Legal Officer of Mallinckrodt said, “We are pleased that New York State has joined the already 47 states and territories in supporting Mallinckrodt’s proposed global opioid settlement, and view their support as an important step toward completing the settlement. We remain committed to satisfying the terms of the agreement in principle and continuing to work toward achieving that objective.”
Penny Stocks To Watch: AIM ImmunoTech
Finally, AIM ImmunoTech (AIM-Stock Report) is actually a unique company for this particular list of penny stocks. On a rare occasion right now, AIM is actually the only coronavirus penny stock among the bunch right now. Shares of the company have managed to rally over 700% this year alone. Much of that came at a time the media identified the coronavirus as the Wuhan Flu.
While there’ve been no new updates from the company since March 9, momentum carried over into the middle of the week. On Monday, AIM announced that its drug, Ampligen will be tested by Japan’s National Institute of Infectious Diseases. The main use is to treat the “New SARS Coronavirus”.
AIM CEO Thomas K. Equels said in a press release, “Ampligen had excellent antiviral activity against the earlier SARS coronavirus in U.S. National Institutes of Health-contracted animal experiments. In those studies of SARS-infected mice, Ampligen stands out as the only drug tested that conferred a significant survival effect: 100% of the Ampligen-treated mice survived, while none of the untreated mice survived.”
Are AIM shares set to return back to the previous 2020 high of over $7 or is this just an interim reaction from the latest coronavirus news cycle?
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.
