Coronavirus Penny Stocks Trading Higher Right Now

4 Coronavirus Penny Stocks To Watch Before Next Week

It’s safe to say the coronavirus penny stocks are a major topic of conversation right now. It seems like the more we try to find a reason to avoid it, the more it becomes a focus. But for traders, that hasn’t been a bad thing at all. If you remember back when the “Wuhan Flu” turned into “coronavirus” back in January, we saw the early makings of a niche market boom. It started with biotech penny stocks and then evolved into a more speculative play on things like food delivery, grocery stores, shipping companies, and even a few pot penny stocks made the early list.

So, where are we now? It seems like thee hype sectors go through phases. First, there’s blind hype buying, then there’s buyer’s remorse when stocks plummet back down, followed by the “educated investors” who actually start researching before jumping in. After this last phase, the market needs to make a decision. Will it continue trading on hype as the focus or is there really something to it?

We saw this a few years back with bitcoin and cryptocurrency but that ended up fizzling just as the “education phase” tried to begin. On the other hand, during the early days of pot stocks, I think it’s safe to say that we’ve seen a full circle lifecycle. Now it’s coming down to a more fundamental approach than anything. But I hope you see my point.

While much of the quick gains are seen early based on hype-fueled momentum, the next few phases may offer a longer-term strategy. No matter your taste and preference, coronavirus penny stocks have seen their fair share of big wins and losses. Heading into the rest of the month, there are still many that have pushed higher after some initial profit-taking.

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Coronavirus Penny Stocks To Watch #4: Bellerophon

If you remember back in October of last year, we first covered Bellerophon (BLPH Stock Report) after it reported positive news. Shares ended up jumping after the company presented Phase 2b data for its INOpulse at CHEST’s 2019 annual meeting. Unfortunately, the penny stock has gone through its share of ups and downs. If you’re looking at the stock right now, its price is a bit different because of the reverse split the company conducted. SO it’s one of the other reasons we haven’t focused on this company since October. It just wasn’t in the region of penny stocks.

Needless to say, shares did manage to trade higher than where we initially reported on the company. But just like many other stocks, BLPH ripped lower over the past few weeks. But after hitting new 52-week lows (in penny stock range) on March 19, BLPH is back in focus in a big way. The company announced that the FDA granted the company emergency expanded access.

This allows the company’s iNO delivery system, INOpulse to immediately be used for treating COVID-19. Due to the sheer potential of this event, BLPH may be one of the top coronavirus penny stocks to watch right now.

Coronavirus Penny Stocks To Watch #3: Tonix Pharma

Tonix Pharma (TNXP Stock Report) is another one of the coronavirus stocks we’ve monitored this year. Similar to BLPH, Tonix stock has also had its share of ups and downs along the way. It hasn’t been the best long-term trade but as a result of its volatility, TNXP stock has managed to jump big in short time-frames.

Finishing out the week, Tonix is once again on the list of penny stocks to watch after a recent filing caught some attention. An 8K shows that the company will present information related to its TNX-1800. If you remember, this is a treatment that the company has used to target the coronavirus. Tonix presents to the World Health Organization on March 20th (today).

This could be an interesting and higher-risk scenario. First, if the presentation is received well, it could be a big win for the company. However, if the presented material fails to wow the WHO, it could act as a big hit to Tonix’s pipeline. Either way, it’s something to keep in mind if TNXP is on your list of penny stocks to watch.

Coronavirus Penny Stocks to Watch #2: Chembio Diagnostics

Next, Chembio Diagnostics (CEMI Stock Report) is another one of the previous coronavirus penny stocks we’ve monitored this year. Shares have mimicked the same volatile moves as TNXP and BLPH. But Chembio has managed to mount a recovery starting this week. Furthermore, shares headed even higher on March 20 after the company’s latest announcement.

Chembio reported that it received a $4 million purchase order from Bio Manguinhos. This order was for the production of DPP COVID-19 IgM/lgG system in Brazil. This is the company’s rapid test platform to help in the diagnosis of “SARS-CoV-2 infections.

Javan Esfandari, Chembio’s Executive Vice President and Chief Science & Technology Officer said, “Recent studies reiterate that both molecular and serological tests are needed to definitively confirm a virus carrier, and the strength of our DPP platform technology-enabled our team to develop a high-quality test for SARS‑CoV‑2 efficiently and rapidly. Our serology test will detect the presence of antibodies in blood indicating that a person had an immune response to SARS-CoV-2, regardless of whether symptoms developed from infection or if the infection was asymptomatic.”

Coronavirus Penny Stocks To Watch #1: BOQI International Medical Inc.

Finally, BOQI International Medical Inc. (BIMI Stock Report)started to make a move during pre-market trading on Friday. You’ll recall that back in October (the weekend of Oct. 11) was when we first caught wind of this company. At the time BIMI stock was trading around $1.48. Since then we’ve seen shares of the company jump as high as $12, pull-back, jump again, and repeat. But a recent bout of selling pressure took shares back down to lows of $1.85.

Closing out the week, BIMI stock has managed to jump back above $2. The company announced that its subsidiary had entered into a $19 million medical device purchase agreement. The deal is with Shandong Forward Medical Group for numeral medical products. These include isolation gowns, protective coveralls, CT machines, ventilators, radiography systems, and laryngoscopes.

Mr. Tiewei Song, Chief Executive Officer and President of BOQI International Medical Inc. said, “As a health care company, we must do our part to help reduce the secondary risks such as shortage of medical devices. We are committed to working closely with our suppliers and logistics partners to ensure the quality and delivery of our products.”