3 Penny Stocks Up Big This Week
Some are calling these unprecedented times in the stock market. While traditional investors are trying to figure out volatility, day traders and all of us watching penny stocks can’t get enough. I don’t want to speak for the entire community but with penny stocks being volatile already, this added activity has helped in my opinion. Another contributor mentioned earlier today that more traders are gaining exposure to penny stocks simply based on the fact that stocks have fallen so low.
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With times like these, you can’t ignore the huge momentum low-priced stocks are seeing. Every day this week, there’ve been at least a handful of penny stocks racing past 100% in price appreciation. This can be overwhelming at times. So if you’re new to penny stocks, take a breath and focus on your plan. So many stocks are trading at perceived discounts and as some investors “nibble” to build long-term positions, others are more focused on day trading. I wouldn’t blame them either.
Volatility like this has opened the door for big breakouts and big break downs for that matter. The thing to remember is no one goes broke by taking profit and if you have a bad day, don’t revenge trade to try to make all of your loss back at once either. Trading is just as much a mental game as anything and it can play a big role in your trading career.
Best Penny Stocks To Buy [ or sell] #1: Bio-Path Holdings
Shares of Bio-Path Holdings (BPTH Stock Report) have been relatively quiet or most of March. However, during the Friday session, BPTH stock managed to break out so much that they left the penny stock range. The penny stock jumped 56% since the start of the week from $3.53 on Monday to highs of $5.50 by March 27. In addition, trading volumes have been relatively lower this week. So it wouldn’t have been an indication of “things to come” even if this was on your list this week.
Friday, however, that all changed. Not only did the stock reach highs I mentioned above, but trading volume was also some of the highest all year. By the lunch hour, shares of BPTH stock traded more than 523,000. The interesting part, there wasn’t any new update or filing from the company. In fact, the last update came when the company announced a new auditor, Ernst & Young LLP.
Besides that, there haven’t been new updates that would suggest such a move. If you’re assuming it to be a coronavirus stock, the company hasn’t diverged from its cancer treatment model. Its lead product candidate is a treatment for blood cancers and the company has filed an IND for a Phase 1 clinical trial for solid tumors. Some sources say this could be based on a potential short squeeze. Assuming the current outstanding share count is under 10 million shares, this could be another one of the low float penny stocks to watch.
Best Penny Stocks To Buy [or sell] #2: THL Credit Inc.
Sharers of THL Credit Inc. (TCRD Stock Report) have rallied by more than 145% since hitting lows of $1.56 this week. Something we haven’t seen a lot of are banks and banking-related stocks. THL is a credit investment manager for direct lending and syndicated investments. There’s also the THC Credit Senior Loan und (TSLF Stock Report) which is a closed-end management investment company. In the case of TCRD stock, the latest surge comes amid institutional buying.
A Schedule 13D shows First Eagle Holdings, Inc. has a sizeable position in the company. The 4.238% stake brings the firm’s holdings to 1,259,102 shares of TCRD stock. According to First Eagle’s website, First Eagle Investment Management is an independent firm that manages approximately $101 billion in assets for institutional and individual clients.
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Whether or not this event can continue to drive momentum is yet to be seen. However, on Friday, TCRD stock managed to post a new weekly high of $3.85 during the morning session.
Best Penny Stocks To Buy [or sell] #3: Nautilus Inc.
What’s a good quarantine without some physical activity? Nautilus Inc. (NLS Stock Report) has become one of the top penny stocks to watch in the health & wellness arena. The at-home fitness equipment company has benefited recently from the stay and home orders across the country. In fact, this week, sharers of NLS stock have rallied from an open of $1.33 on Monday to highs of $2.91 during Friday’s mid-day session (118% since the start of the week).
At the start of the week, the company filed a Form 8-K showing that the Board of Directors increased the size from 6 to 7 directors. It also appointed Patty M. Ross as director and member of the Compensation Committee of the Board. Patty spent the majority of her career with Nike, where she dedicated over 34 years in strategy, process-re-engineering, operations, and general management roles.
After posted better than expected Q4 earnings and sales, investors may be eyeing what’s next for the company. Obviously, with gyms closing across the country, the fitness community is hungry for options. On October 21, 2019 NLS announced the availability of a digitally enhanced Schwinn bike and treadmill, and on October 23, they announced the introduction of the Bowflex C6 indoor cycling bike.
The company also has a digital connectivity platform. This allows for things like AI-driven virtual coaching branded as JRNY. Popularized initially by Paleton (PTON Stock Report), now others are taking a page out of their book. “It [JRNY] will be made available on more Bowflex, Nautilus and Schwinn equipment over time,” the company has stated. Will COVID-19 be the spark that gets NLS stock back in shape for 2020?