Penny Stocks To Watch This Month
The song goes: Come along and ride on this fantastic voyage. But as the Coolio remix explains, and as the market has shown, it’s been more slide, slide, slippity sliding than anything. That doesn’t mean there aren’t plenty of opportunities right now.
In fact, this latest bout of volatility has produced some of the biggest gains I think I’ve ever seen. While larger firms are focused on maintaining their blue-chip positions, small and micro-cap stocks are on fire. In fact, if coronavirus is something you are trying to find ways of making money with, penny stocks are where it all started.
We managed to catch onto this trend early, in January, when Wuhan flu just started to be renamed “coronavirus”. If you go back to that time, these stocks were like the wild wild west. And while many still are jumping on even a whisper of the term COVID-19, investors are starting to pay much closer attention to fundamentals AND hype versus hype alone.
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So where does this put our readers? Well, you are here for a reason and I’m hoping that reason is to learn about penny stocks and gain exposure to some good information to include in your research process. Here’s a quick list of penny stocks to watch this month. But will they be top penny stocks to buy or should you avoid them at all costs?
Penny Stocks [Buy or Sell]: Aytu Bioscience
First, Aytu Biosciences (AYTU) on the list yet again. While most of the session on Wednesday saw AYTU stock trading sideways, it’s what happened after hours that may raise some eyebrows.
It’s no question the market was in turmoil today. But for Aytu Bio, the penny stock managed to hold its higher highs for the second day in a row. The company falls into the coronavirus stock category but unlike some companies that simply mention the word in a press release, Aytu is working on a treatment. The company recently entered into an exclusive distribution agreement. It gives Aytu the right to commercialize a clinically validated and commercially used coronavirus IgG/IgM Rapid Test. It demonstrated the ability to test for things like COVID-19 and report results in 2-10 minutes.
On March 17th the company gave an update on its progress. Josh Disbrow , Chief Executive Officer of Aytu BioScience, commented, “While we are still working with FDA on making the COVID-19 Rapid Test available, we believe that this updated policy may enable near-term availability of our recently-licensed point-of-care test. During this public health emergency, we are working tirelessly to satisfy all requirements in order to make the test available to the professional medical community as soon as possible.”
Penny Stocks [Buy or Sell]: Guess Inc.
Guess what. Guess Inc. (GES) is a penny stock right now. Shares of the fashion company plummeted starting in late February and hit fresh 52-week lows on Wednesday of $3.64. But the recent news that came out could be a big plus in the eyes of investors especially considering the current climate for retail.
Guess? reported its fourth-quarter earnings of its fiscal year ended February 1 on March 18th. Earnings per share came in at $1.22. This beat Wall Street estimates of $1.12 EPS. However, sales did miss the mark with Wall Street pegging the clothing and accessories company at $851.19 million. The reported sales from Guess? came in at $842 million. While the company couldn’t give guidance based on the current COVID-19 issue, the company did say it’s in a “strong” position to face its impact.
Carlos Alberini, Chief Executive Officer, commented, “In spite of the current crisis, I am very pleased with the progress we are making with the implementation of the strategic plan we presented at our Investor Day in December. I strongly believe all the opportunities we identified remain in place for the Company in the long term. I am proud of our team’s accomplishments and I continue to be very excited about our Company’s future.”
Penny Stocks [Buy or Sell]: iFresh Inc.
Another familiar face, iFresh Inc. (IFMK) continued its rally on Wednesday. We first picked up on this company after it announced the opening of a new store in Miami. It quickly found its way to the land of coronavirus penny stocks being cited as a delivery company. In areas that the company has stores, it also offers online ordering and door to door delivery.
But recently, the company pulled a trick shot of sorts. iFresh signed a deal to acquire 70% interest in a medical technology company. It’s kind of the classic scenario of a company wanting to get direct exposure to the latest trend. In this case, it sees iFresh gaining a majority stake in a company that supplies face masks among other medical-related products.
Thanks to the rampant growth of COVID-19 cases, more precautions being taken across the country have helped boost sentiment for companies like this. IFMK has managed to climb as high as $1.86 over the last few weeks. During post-market trading on March 18th, shares are heading higher after closing at $1.43 during normal market hours.
Penny Stocks [Buy or Sell]: Phunware Inc.
Phunware Inc. (PHUN) is a company you may have heard of before. It isn’t a pure play coronavirus stock, but it is an interesting tech company that has been making new engagements over recent weeks. In February Phunware and Cisco Systems’ Meraki launched location-based services in the Meraki Marketplace.
Since then the company has focused on Health centers and systems to deploy “digital front door” services. These include some of the nation’s largest health systems. In fact, in its most recent update, Phunware deployed its service to a health system that saw the platform span over 30 facilities and covers more than 22 million sq feet of space.
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“The enterprise rollout of this mobile application enabled by our location-based services is another great example of leadership in healthcare innovation and we’re proud to play our part in building a true digital front door,” said Alan S. Knitowski, President, CEO, and Co-Founder of Phunware. “Being able to navigate a complex facility easily makes hospital visits less stressful for patients while being able to reach and inform patients with the push of a button, saving precious time and increasing staff efficiencies.”