Top Penny Stocks Trading Higher Right Now
When you’re looking for penny stocks to buy, what are some of the main things you track? Is it news, volume, or maybe it’s simply looking for penny stocks making large moves in price. No matter what you’re looking at, understanding the “why” is just as important as knowing the “how” when it comes to trading penny stocks.
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The latter is a bit easier. How do you trade penny stocks? It’s as easy as opening up a penny stock brokerage account that allows you to buy and sell penny stocks. Some of these brokers will either restrict access to certain stocks or require certain fees to buy penny stocks. At the same time, other penny stock brokers may simply say, “here you go, get trading.” But in reference to the former: why are you trading the penny stock you just bought? The answer to that question should already be understood before clicking the “buy button” itself.
I’ve seen so many new traders treating lower-priced stocks and even options like lottery tickets. Now, if you consistently win the lottery, then congrats. But my guess is that even if you’re winning $2 on a scratch-off, that doesn’t pay your monthly bills. One of the most important parts of trading is building a strategy that you can consistently execute and make money with.
So, while a broker is important to have for obvious reasons, a well-thought-out strategy is paramount. With this in mind, here’s a list of penny stocks to watch that have pushed to new weekly highs.
Penny Stocks To Watch: IMC International Mining
IMC International Mining (IMIMF Stock Report)(IMCX) is our recent gold company in focus. Not only has it been one of the only gold stocks to not pull-back recently, but it is also a company that has just completed one of its biggest acquisitions to date. On Thursday, IMC announced that it had acquired Thane Minerals. Thane’s interest in British Columbia’s Cathedral property could create one of the biggest opportunities in the history of IMC International.
Thane’s 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.
The deal also comes with a new Board Chairman, Greg Hawkins. Not only does he have over 50 years of industry experience, but Hawkins was also the Founding Project Consultant and/or Founding Director of seven public and private Exploration/Development ventures. These include 4 that have been bought out for upward of $1.8 billion. IMC is hosting a conference call on March 30, hosted by GoldStocks.com to discuss this latest deal with the company’s new Chairman.
Penny Stocks To Watch: Hepion Pharmaceuticals Inc.
Hepion Pharmaceuticals Inc. (HEPA Stock Report) saw its shares take off on Friday. The company hasn’t announced any news. There weren’t any updated filings either. A quick look at some of the market buzz right now may suggest speculation on a coronavirus angle with the company.
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Please note that the company hasn’t come out with any news updates regarding COVID-19. However, its last update could shed some light on this. The company released “positive findings from a translational research study”. This was to investigate the effects of its drug candidate, CRV431. The target of this investigation was on lung tissue obtained from a patient with idiopathic pulmonary fibrosis.
Since COVID-19 poses a respiratory strain, we’ve seen companies targetting lung treatment benefit from this latest series of speculation. More specifically, the company explained that its treatment may be applicable to a range of diseases. Dr. Daren Ure, Chief Scientific Officer of Hepion stated, “The results reinforce that CRV431 has direct-acting anti-fibrotic activity that may be applicable to a range of fibrotic diseases and disorders, potentially even certain cancers. Having previously observed anti-fibrotic activities of CRV431 in isolated cells from an IPF lung, the current study extends those observations to intact, IPF tissue, which is significantly more relevant.”
Penny Stocks to Watch: Everi Holdings
One of the sectors that many wouldn’t have thought would be trending higher is Vegas-style gaming companies. With the likes of most major casino operators shutting things down, this week was a rough one thus far. However, if you look at most of these same blue-chip stocks today like MGM (MGM Stock Report) and Penn Gaming (PENN Stock Report) you’ll see something very different than what we saw at the beginning of the week. Everi Holdings (EVRI Stock Report) has followed suit.
The company is a supplier of technology and entertainment solutions for casinos and the gaming industry at large. Over the last few days, shares of the company have managed to bounce back from 52-week lows of $1.55 this week. It seems that bullish comments from BofA Securities analysts were a driving force for the sector. Analyst Shaun Kelley said he was bullish on U.S. gaming companies with exposure to the Macau market.
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Recently, Everi drew down $35 million available under a credit facility to boost its cash position. Obviously, during tough times like this, access to cash is key. Since the COVID-19 illnesses declined in China, casinos & their downstream or cross-stream partners could continue to benefit.
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.
