These Penny Stocks Are Turning Heads This Week
There are a lot of people talking about a lot of things right now. Some have said we’re in a position that is once in a lifetime. With the impact of coronavirus on the economy, traders are laser-focused on 2 things. First, securing gains. Second, mitigating risk. While plenty of the blue-chip stocks are wavering, countless penny stocks are on the rise. Many of these are jumping based on gaining exposure to coronavirus.
[Special Report] Gold Company In Focus
So where has attention focused? Biotech has definitely been a key sector of interest for investors. Some food-related stocks have also found excitement and you can’t forget about gold and precious metals finding some footing either.
While the fallout of the coronavirus is still a ways away, the market’s volatility has created stronger opportunities for investors. You just need to know where to find them in order to profit. With this in mind, here’s a list of penny stocks to watch as the wild week starts winding down.
Penny Stocks To Watch: IMC International Mining
If you haven’t heard, IMC International Mining (IMIMF-Stock Report)(IMCX) is our first “Company In Focus”. This comes amid two key developments: 1. A gold sector rebound & 2. Big news from the company. Over the last few days, the price of gold has teetered around a previous technical level. On Thursday, the price of gold began to turn around during the morning session. Considering that this was a previous “bottom” for gold earlier this year, the rally in gold could be the rising tide to lift other sector stocks.
Next, today, IMC International finalized a multi-million dollar acquisition of Thane Minerals. When we talk about a gold stock rally, you can’t ignore juniors (aka the smaller companies). If you look at history, you’ll see it was junior gold stocks that have rallied the highest during times of bullish gold prices. Furthermore, IMC’s latest deal sees the company acquire a property called Cathedral, of which Thane owns 100% interest in.
The 51,000+ acre Cathedral property is in an area called the “Quesnel Terrane” which is rich in mineralization and perfect for gold discovery. In fact, just North West of this region is an area called “The Golden Triangle,” which hosts some of the richest gold ore bodies in the world. In our opinion, this is a must-see story with a company that just closed a big acquisition and brought on top talent to move things further. Read The Full Report Here.
Penny Stocks To Watch: T2 Biosystems
T2 Biosystems (TTOO-Stock Report) has taken off on Thursday. This came as the company was just awarded an Innovative Technology contract from the largest member-driven healthcare performance improvement company in the country, Vizient, Inc. The deal will cover T2’s T2Dx Instrument, T2Bacteria, and TT2Candid Panels. These detect sepsis causing bacterial and fungal pathogens from blood.
President and Chief Executive Officer John Sperzel explained, “T2 Biosystems is the only Company with solutions that can detect sepsis-causing pathogens, directly from whole blood, in hours instead of days. With the mortality of patients in septic shock rising by eight percent every hour they are not on targeted treatment, the need for hospitals to have more effective rapid diagnostics that enable earlier targeted therapy integrated into their infection management protocol is essential.”
Penny Stocks To Watch: Aphria Inc.
Surprised to see Aphria Inc. (APHA-Stock Report) on a list of penny stocks to watch? The cannabis sector has gotten demolished over the last year. But that doesn’t mean there haven’td been sporadic jumps. Whether or not this latest move for APHA stock can sustain itself is yet to be seen. For now, however, the marijuana penny stock is on the move after an analyst upgrade.
On Thursday, Bank of America upgraded the company. The firm gave Aphria a Buy rating on the stock. This is up from the previous Neutral rating. B of A also set a $5 CAD price target for the pot penny stock. This could be one of the reasons why a number of marijuana companies including the fresh crop of pot penny stocks have perked up a bit on March 19. But, as I said, whether or not this can become a sustained move is yet to be seen for 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 April 30, 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.