Right Now These Penny Stocks Can Be Bought For Less Than $1
Penny stocks are traditionally known for their low prices. The standard definition of a penny stock is an equity trading below $5. That’s the penny stock definition according to the Securities and Exchange Commission. However, when you talk about popular opinion or even certain brokers like TD Ameritrade, they might define these cheap stocks as ones trading much lower.
What’s the point of mentioning this? Well, the basic idea of penny stocks is that you can buy a lot of shares, leverage small moves in price, and score big gains on not a lot of capital outlay. Even though this is 100% true, it does leave out one very important factor: risk. Penny stocks are notorious for their high-risk profiles.
While a stock under $1 might move up 10 to 20 cents and produce meaningful gains, that can also work against you. The lower the price of penny stocks, the higher the pricing-risk you’ll likely encounter. So just because you can buy penny stocks under $1, it doesn’t necessarily mean they’re worth the purchase. However, if you can safely say that you’ve found one of the good penny stocks to buy right now, then it may be worth it for you.
Today, we’re seeing more interest building around reopening the economy. With that, there’s the idea that a vaccine or possible treatment may be near. Even though this may or may not be true, the sentiment is what we’re paying attention to. Right now we’ve seen several penny stocks benefiting from this focus on coronavirus-related businesses. believe it or not, they aren’t all biotech penny stocks either.
Penny Stocks Under $1: AgEagle Aerial Systems
AgEagle Aerial Systems (UAVS Stock Report) was one of the penny stocks we talked about earlier this month. At the time the company had just announced a key development. AgEagle reported that it received a follow-on purchase order to manufacture commercial drones for package delivery.
The company stated that representing significant new revenue, the new purchase orders relate to the continued manufacturing and assembly of drones used for the testing and refining of the client’s commercial drone small package delivery vehicles, systems and operations currently in development.
After the initial breakout to highs of $1.59, the penny stock broke down to lows of $0.53 last week. Again, big risk/big reward scenario. Some people likely made money and others were likely down big after the drop. Over the last few trading days, however, UAVS stock has managed to reverse that downward slide. As of April 27, the penny stock has bounced back above $0.85 for the first time since April 16th. Furthermore, trading momentum has also been picking up.
The next corporate event to keep in mind will come this week. AgEagle will host a conference call on Thursday during normal market hours. The 11AM call is aimed at discussing recent operational highlights and give a corporate update.
Penny Stocks To Buy For Under $1: Vislink Technologies
Vislink Technologies (VISL Stock Report) is another one of the penny stocks that broke out big earlier this month and retraced over the last week. VISL stock jumped to highs of $0.215 on April 15th. After sliding back to lows of about $0.15, the penny stock began to rebound at the end of the week last week. This move hasn’t stopped either.
On April 27th, the penny stock reached highs of $0.25 during the lunch hour. But just like earlier in April, there hasn’t been much by way of corporate news to suggest a potential catalyst at the moment. The most recent update found in a filing was with regard to being granted over $1 million through the governments paycheck protection program.
However, last month Vislink was able to secure several contract to supply communications and surveillance equipment. The company received a $400,000 contract to supply an airborne surveillance video downlink solution to a government agency located in the MENA (Middle East and North Africa) region.
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Following this, Vislink announced receipt of a $180,000 order for satellite communications equipment for deployment in Asia. What else could be behind this latest move for VISL stock? Leave a comment below.
Penny Stocks Under $1: GNC Holdings
It’s becoming a amore frequent event to see well-known brand names mentioned on a list of penny stocks. GNC Holdings (GNC Stock Report) is among them. However, if you’re one of the people who aren’t familiar with the brand, you’ve likely either received a catalogue, seen them in a mall, or gotten served a click ad by their company espeicially if you work out.
GNC Holdings Inc is a specialty retailer of health, wellness, and performance products. It operates through company-owned retail stores, domestic and international franchise activities, third-party contract manufacturing, e-commerce, and wholesale partnerships. Believe it or not, GNC stock has been one of the worst-performing penny stocks to watch this quarter. The penny stock fell from over $2.83 at the start of the year to lows of $0.38 in March. This week, however, that has changed.
On April 27, the company saw its shares skyrocket to over $0.70. But again, there was no update from the company. There weren’t any new filings either. But something that could be helping to fuel this momentum is nation-wide news that retailers could start opening. “Temporarily closed” signs are slowly being replaced by “We are open” placards outside retail businesses after the governors in certain states have started allowing some merchants to reopen.
This has included some malls; a favorite outlet for GNC stores. With this favorable sentiment and market momentum, will GNC remain one of the penny stocks under $1 for long?
Penny Stocks To Buy For Under $1: Salarius Pharmaceuticals
Salarius Pharmaceuticals (SLRX Stock Report) saw shares explode on Monday. The company focuses on targeted therapies to treat pediatric and other cancers. This week the company delivers its virtual presentation at the Emerging Growth Invitational on April 28. Considering that this is tomorrow, it might make some sense that positive sentiment could be building around the company. Company CEO David Arthur will provide a corporate update highlighting Salarius’ recent achievements, upcoming clinical milestones and the company’s focus on developing epigenetic-based therapies for rare and hard-to-treat cancers.
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Salarius’ clinical development pipeline is led by Seclidemstat. This is a reversible inhibitor of the LSD1 enzyme. Seclidemstat is already the subject of a Phase 1/2 study in Ewing sarcoma, a rare pediatric bone cancer, for which it has been granted Fast Track Designation by the FDA. It was also given Orphan and Rare Pediatric Disease designations. A second Phase 1/2 study targets advanced solid tumors (AST), including prostate, breast and ovarian cancers. Salarius expects to begin releasing data from both studies in mid-2020.
Considering that there’s been no other news from the company, we’ve got to look elsewhere for potential catalysts. On Monday, Ladenburg Thalmann initiated coverage on Salarius with a Buy rating. The firm also gave SLRX stock a $3.80 price target.