Are These On Your List Of Penny Stocks To Watch Right Now?
We’re at the start of a brand new month and a whole new crop of opportunities to find penny stocks to buy. It looks like coronavirus headlines are still captivating the market on Friday but there are also headwinds coming from our old friend: China tariffs. Prior to COVID-19 putting a stranglehold on news outlets, the world was dealing with several big events. These involved things like an uprising in Hong Kong, threats from the Middle East, and the trade war between China and the U.S.
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On Friday, broader sector stocks are reacting to comments made by President Trump on Thursday. The U.S. President said that the China trade deal is now secondary to what China did with the virus. Furthermore, he reportedly claimed to have seen “evidence” of a Wuhan lab that was supposedly the origin of the virus. In response to debt payments to China, President Trump said he doesn’t have to stop them, he can just do tariffs. Meanwhile, Economic Advisor Larry Kudlow said that the United States could just spend its way out of this crisis.
There’s a lot to digest from the last 24 hours of banter from the government and mass media outlets. Today there will, of course, be corporate headlines to throw into the mix. But we’re here to find top penny stocks. So shifting focus to the small-cap market, there are a number of penny stocks on the move, early on Friday. But it will be up to you to decide if they’re the best penny stocks to buy today or if you should avoid them at all costs.
Best Penny Stocks To Buy [or avoid]: Medigus Ltd.
Earlier this week we discussed Medigus Ltd. (MDGS Stock Report). It has since become one of the more volatile penny stocks to watch. Big swings in both directions and increasing trading volume have attracted some attention in April. It looks like that has continued into May. Medigus announced the signing of a collaboration agreement with L-1 Systems Ltd. for the joint commercialization of various COVID-19 related products and solutions to governmental agencies.
The deal also included institutional healthcare organizations. Medigus is entitled to proceeds from sales based on a profit share model. This is based on the scope of financing provided by Medigus. The deal has 50% of the profits being allotted in the case Medigus introduces the products, and in all other cases, of 5% of the profits.
This update follows one from last week. Medigus signed an LOI with Polyrizon for an investment and joint commercialization of biological gels. This deal was also proposed with a revenue share model. On Friday, the company continued to flood the newswires with new headlines as well. The company announced that following the signing of a collaboration agreement with L-1 Systems Ltd., they received the first commercial order for COVID-19 serological test kits. MDGS stock has been climbing during the premarket session following this update. Will it remain one of the top penny stocks to watch on May 1?
Best Penny Stocks To Buy [or avoid]: SPI Energy
SPI Energy (SPI Stock Report) has been another one of the more active penny stocks to watch late in the week this week. The company offers photovoltaic solutions for business, residential, government and utility customers and investors. The company provides a range of engineering, procurement and construction services to third-party project developers. It is also engaged in the development, manufacture, and marketing of various PV modules.
The company recently announced that it received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market Inc. on April 28, 2020. It was to notify the Company that its bid price per ordinary share had been below $1.00 for a period of 30 consecutive business days. The company was still given until December 28th to regain compliance. While the obvious look at its chart shows a much different story, SPI stock has managed to not only climb back to $1 but press higher to $2 during premarket trading on Friday.
The biggest question her is whether or not this uptrend can uphold itself. Oil and gas has been a big focus of top stories in the stock market. However, solar power stocks have started to gain some attention as well. SPI Energy recently announced the acquisition of the Cork project. This was from the previously announced framework agreement to acquire up to 8 solar projects in the state of Oregon. The Cork solar project will produce a total of approximately 1.89MW in the State of Oregon. Considering this progress, will it be enough to continue driving the current momentum SPI stock is seeing or will this penny stock fade during the early part of May? Leave a comment below.
Best Penny Stocks To Buy [or avoid]: CHF Solutions
Similar to MDGS stock, CHF Solutions (CHFS Stock Report) has seen a wild daily trend. For the most part, CHFS stock has traded between $0.39 and $0.48 for a few weeks. This range-bound trend has been one of the things attracting those looking to day trade penny stocks. On April 14, the company announced that physicians on the frontlines of treating patients with COVID-19 have used its Aquadex therapy for patients who need fluid removal between dialysis treatments.
However, on Friday May 1, the company’s latest news could be one that turned more heads. The company announced that it has shipped Aquadex product to a specialty care center. That center is designated for the most severe COVID-19 patients in Minnesota.
“We continue to receive positive feedback from physicians and medical staff who are using Aquadex therapy to treat patients affected with COVID-19 throughout the country. With these first shipments within Minneapolis-St. Paul, we are pleased that the Aquadex therapy is being used to help patients in our own community,” said John Erb, CEO of CHF Solutions. Shares have climbed as high as $0.4813 during premarket trading on May 1. But keep in mind the range that CHFS stock has traded in prior to today. Will this latest catalyst be enough to see it break and hold above the upper limit of this range?