list of penny stocks to watch right now chart

Blood In The Streets But Penny Stocks Still Show Strength

While the broader markets faded further after the closing bell, several penny stocks continued higher. Call it a side-effect of the coronavirus or pure speculation but no matter how you cut it, the moves were clear for several low-priced stocks. With soo much fear in the stock market today, volatility is becoming big. Most of those who trade penny stocks are used to such volatility. When “blue-chip” investors experience more than a 10% move in a week, it could be a time for panic. It’s this panic that has created the big swings that the market is seeing right now.

But how do you know when it’s time to get back in if you’re out? On another note, how will you know the market will go lower? The short answer is you won’t. But again, when we talk about penny stocks, the short-term time-frame is relatively standard. For the most part these cheap stocks are day traded and swing traded.

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If someone does invest in penny stocks, it’s usually a situation of a core position to trade around. If you’re unfamiliar with this type of tiered trading strategy, check out some of our basics articles. On another note, if you haven’t done so already, you can download our brand new, 60+ page book by subscribing for free. In any event, the name of the game is making money. With that, let’s check out a few penny stocks to watch after big momentum this week.

Penny Stocks To Watch: IMC International Mining

top penny stocks to trade IMC International Mining (IMCX) (IMIMF)

First, IMC International Mining (IMIMF – Stock Report)(IMCX) was one of the top gold penny stocks to watch this week. While the vast majority of gold stocks dropped for the last 4 trading days, IMC International maintained a sideways trend, until March 12. On Thursday the gold stock ended up testing its 52-week high level of $0.50 CAD. In the U.S. market, its IMIMF symbol managed to jump from $0.37USD to highs of $0.41USD.

What’s happened with IMC International lately? Much of the attention on the company stems from a pending acquisition. In February the company announced entry into a letter of intent with Thane Minerals. As a follow-up earlier this month, the company reported plans to close on the deal by March 15th.

Considering gold prices just hit new highs 4 days ago, this 8% pull-back in gold, could see attention shift back to the yellow metal amid the latest bout of market uncertainty. Moreover, if and when the Thane deal is closed, IMC would then have direct access to a property called the Cathedral Property located in British Columbia’s Quesnel Terrane. Based just southeast of the famous Golden Triangle, Quesnel hosts past and planned production. Since the start of the year, IMC stock has managed to rally by as much as 100%.

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: iBio Inc.

penny stocks to buy sell iBio Inc. (IBIO)

iBio Inc. (IBIO-Stock Report) has been on a wild ride this year. At the start of 2020, shares traded around $0.25. Since then, the biotech penny stock has managed to reach highs of $3.40. After consolidating during the weeks to follow, Thursday could have marked a turning point for IBIO stock. Obviously time will ultimately tell that to be true or false. However, iBio gave a new update after the market closed on March 12 which seems to have boosted sentiment.

Better known as a coronavirus stock lately, iBio has plans to develop a plant-based coronavirus vaccine. But this isn’t the catalyst from March 12. After the closing bell, iBio announced the appointment of Thomas F. Isett, as its Co-Chairman and Chief Executive Officer.

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Mr. Isett, a current member of iBio’s Board of Directors, succeeds Robert B. Kay, who has retired from the role as Chief Executive Officer. Kay will remain as Co-Chairman and member of the Board, however. After this news came out, IBIO stock jumped from a closing price of $1.43 to aftermarket highs of more than $1.70. Will this momentum continue into Friday’s morning session?

Penny Stocks To Watch: Organogenesis Holdings Inc.

penny stocks to watch Organogenesis (ORGO)

Finally, Organogenesis Holdings Inc. (ORGO-Stock Report) saw a sharp reversal in trend as well on Thursday. ORGO stock had been trending down for weeks. In fact, on March 11, the penny stock reached new 52-week lows of $2.80. On Thursday, however, things appeared to be turning around. Organogenesis shares rose to highs of $4.86 before closing at $3.97.

This move comes after the company recently provided its earnings results to the market. Not only did the company beat on earnings per share, it also beat sales estimates. For the 4th quarter, Organogenesis reported an eps loss of $0.04 compared to the street’s estimates of a loss of $0.09. Sales came in at $74.6 million compared to estimates of $70.41 Wall Streett analysts had anticipated.

For full-year 2020, the company expects net revenue to be in the range of $273 million and $277 million. That range is ahead of the average estimate of $271.4 million from analysts. Will this be enough to keep the momentum going through the rest of the month? Feel free to comment below.

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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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