Right Now These Penny Stocks Can Be Bought For Less Than $2
Obviously, this site is all about penny stocks. But the argument seems to come up on a daily basis. That argument has everything to do with the definition of penny stocks. According to the Securities and Exchange Commission, the definition of a penny stock is one that trades below $5. But some popular opinion suggests otherwise. When it comes to the question of “what are penny stocks?” certain traders are of the belief that they’re equities traded below $2 a share.
Don’t get me wrong, I love a good argument. But at this point, the standard definition of penny stocks is the one I’ll go by. That’s not only because it allows me to write about more cheap stocks but it also is a generally accepted definition.
For our loyal readers though, I’ll bend and take a look at penny stocks under $2 right now. These are likely to be higher volatility stocks simply based on the lower price. Simple math will tell us, the lower the price, the higher the likelihood of bigger percentage swings.
As far as this list of penny stocks goes, we’ve got several companies that have seen big upticks in trading activity this week so it might not be a bad idea to take a closer look. Just keep in mind that even though these are names that can be bought for under $2 it doesn’t mean they’ll end up as the best penny stocks to buy right now.
Penny Stocks Under $2: Remark Holdings
If you caught the action on Tuesday, you might have come across the article “Are These On Your List Of Penny Stocks Today? 1 Up Over 170%.” One of the stocks discussed was Creative Realities Inc. (CREX Stock Report). It caught attention after something “interesting” came about on the company’s website. Its “Safe Space Solution” apparently has the technology to monitor things like temperature and works with facial recognition. This brought more attention to the idea of finding more thermal imaging stocks.
Remark Holdings (MARK Stock Report) has an integrated suite of AI solutions. No news has come from the company. But its technology gained attention in a broadcast on CBS on Tuesday. Its KanKan offers a suite of products that combine advanced computer vision, behavioral analysis and intention analysis models to address certain issues. One of these could be applied to COVID-19 detection when it comes time to “reopen America”.
As was discussed in the earlier article about CREX stock, this first phase back to normal “will likely entail certain precautions so the virus doesn’t come back and shut down the economy again. One of the ideas is screening at large business centers.” Will this new attention on imaging stocks help give MARK stock a boost this week?
Penny Stocks To Buy For Under $2: Guardion Health Sciences Inc.
Another one of the stocks under 2 trading actively on Tuesday was Guardion Health Sciences Inc. (GHSI Stock Report). Since Friday, the penny stock has been in recovery mode after pulling back from highs of nearly $0.50. Over the last few months starting in late-February, GHSI has been on the list of penny stocks to watch. This initially started after the company announced it was selected by a Malaysian company to develop an immune-supportive formula for their consumer base. Via the company’s newly acquired subsidiary NutriGuard, Guardion was tasked with developing a nutrition-based therapy.
Following this, GHSI popped again on earnings results along with announcing the receipt of an initial order from the Malaysian company for its exclusive immuno-supportive formula. According to the company, its acuMMUNE is a “unique nutraceutical formulation designed with the objective of supporting effective immune function.” When it comes to COVID-19, people are turning toward any potential means of preventing threats to the immune system. But keep in mind that if GHSI is on your list, the FDA hasn’t validated its statements made regarding its product’s ability to increase immune response during viral infections.
[Read More] 4 Penny Stocks to Buy For Under $1 Right Now
Needless to say, thanks to more attention coming as a result of positive updates from companies like Inovio (INO Stock Report), coronavirus stocks may be catching another round of momentum. The former penny stock, Inovio Pharmaceuticals announced this week that it interim Phase 1/2a data demonstrated a positive result. Its INO-4700 was designed to target the MERS-CoV Spike glycoprotein. It was able to confirm an actual immune response in its trial. How does GHSI stand up to something like that? Good question. Needless to say, both have seen an increase in market interest this week.
Penny Stocks Under $2: Chimerix
Chimerix (CMRX Stock Report) is another one of the biotech penny stocks gaining attention this week. While the Tuesday session closed red, CMRX stock managed to eke out its 2nd consecutive day of higher highs. Initially, the company has targeted patients with cancer to deploy treatments. It also focused on other serious diseases.
Before we get into more details on this stock under $2, let’s get something out of the way. It’s becoming frequent that we see biotech stocks making big moves thanks to COVID-19 treatments and vaccine development. So if you immediately thought another “coronavirus stock” that makes sense. But in this case, Chimerix is making headlines for something much different.
The company announced that it has received clearance from the U.S. FDA for a rolling submission of its New Drug Application for the approval of brincidofovir or “BCV” as a medical countermeasure for smallpox. Chimerix said that intends to begin the rolling NDA submission in May 2020 with completion targeted for mid-2020.
The company is developing BCV as a potential medical countermeasure for smallpox under an ongoing collaboration and funding provided by the Biomedical Advanced Research and Development Authority. It’s part of the office of the Assistant Secretary for Preparedness and Response within the U.S. Department of Health and Human Services, under ongoing USG Contract No HHSO10201100013C. Since this news came out after the market closed on Tuesday, it could be something to keep in mind for Wednesday.