4 Penny Stocks To Watch After Latest News
If one thing’s certain, it’s the fact that lately, the market has been shifting more than the wind on a breezy day. This goes for penny stocks and blue-chip stocks alike. Each week, we need to digest the latest data and determine the best angle to take. But it can be a hard pill to swallow.
For those looking to actually invest in penny stocks or large-cap stocks, the dramatic swings can be things that aren’t part of your overall strategy. Even though this might be difficult, it’s the perfect time to learn some new skills like how to trade penny stocks instead of investing.
But, before you go jumping, head-first into day trading penny stocks, it’s important that you learn some of the basics. The goal with trading and investing is obviously to make money. When it comes to trading, however, your timeline for holding shares is much shorter. We’re talking a matter of a few minutes in some circumstances. Therefore, if you’re used to investing in stocks, it might be a good idea to start slow and use paper trading to test your newfound day trading skills.
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Also, look for new types of catalysts that may spark a move (up or down) in certain penny stocks. Lately, we’ve seen a lot more headline triggers and even rumors than anything else. We can’t forget to look at corporate disclosures either. These can sometimes get filed without any related press release, tweet, or announcement whatsoever.
They can, however, reveal some important details that could help you make the best decision when it comes down to trading. With this in mind, let’s take a look at a list of penny stocks making waves early this week.
Penny Stocks To Buy [or sell]: Ritter Pharmaceuticals
Shares of Ritter Pharmaceuticals (RTTR Stock Report) took off on Monday morning. If you’ve been following the site for a while now, RTTR stock has been on the penny stocks watch list frequently. Last week we discussed the company as it had one of its biggest days in recent history trading millions of shares & reaching highs of $0.7389. After consolidation took place and likely profit-taking, the penny stock started to creep higher toward the end of the week.
Today, Ritter announced that it has received written notice from the Nasdaq Stock Market LLC that the Company has regained compliance with Nasdaq’s stockholders’ equity requirement for continued listing on the Nasdaq Capital Market. But there’s something likely more important to note about RTTR stock this week. This is something that has been brewing for months now and could be a “make or break” event at least in the near-term.
Ritter Pharmaceuticals is holding a special meeting of stockholders this week on May 14, 2020. Stockholders will be asked to approve various proposals related to the Company’s proposed merger with Qualigen, Inc. The merged company will focus on the development of Qualigen’s nanotechnology therapies for the treatment of cancer and infectious diseases, while also continuing to operate its revenue-generating diagnostic business.
At the same time, the merger provides for, “a portion of the net proceeds from any potential monetization of our RP-G28 technology, a therapeutic treatment for lactose intolerance, to be distributed to our pre-merger stockholders,” according to Andrew J. Ritter, Ritter Pharmaceuticals’ Chief Executive Officer.
Penny Stocks To Buy [or sell]: Cellect Biotechnology
Cellect Biotechnology (APOP Stock Report)is another one of the penny stocks you can find on a few lists, periodically, on the site. While it hasn’t been as consistent as RTTR stock, APOP stock is more of a love/hate type of trade in my opinion. If you look at the chart from the last year, there’s not a who lot of trend going on besides a relatively sideways one.
But something you will notice is that APOP has been a monster on an intra-day/ daily level. Every so often we’ll see this penny stock jump. But overall that jump hasn’t seen any sustainability whatsoever. I wanted to address this because the last 5 “big days” that the stock had, going back to last August, saw shares explode and then implode the next day.
Knowing this, it may not be a bad idea to have yourself prepared for above-average volatility in my opinion. So why is Cellect stock moving today? The company announced the publication of an article in Bone Marrow Transplantation. It’s a peer-reviewed medical journal and member of the Nature publishing house covering transplantation of bone marrow in humans.
Entitled ‘Ex-vivo FAS-ligand to Improve Allograft Safety,’ the article is co-authored by researchers at Cellect and its academic partners highlighting the pre-clinical research, demonstrating that engraftment is robust following transplantation of treated graft. The Company has initiated a Phase 1/2 study in adults undergoing stem cell transplant for the treatment of hematological malignancies. Thanks to this update, APOP stock is “a popping” once again. Shares reached highs of $5.81 during premarket trading. But the biggest question for me: will it be able to sustain the move this time?
Penny Stocks To Buy [or sell]: Remark Holdings
Remark Holdings (MARK Stock Report) has been no stranger to the attention of traders lately. While nothing has been confirmed nor denied, there are rumors buzzing that Remark and Wynn may have some business together. We first started following the company on April 28. This new speculation came about early last week. In the article “Penny Stocks To Watch: A Big Wynn For Remark Holdings?” we highlighted a few tweets that have been brought into question.
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Despite the fact that neither company has formally announced a deal, traders are taking it in stride. More or less, we’re seeing heavy speculative action and Remark hasn’t slowed down with fueling the fire either. On Remark’s Twitter account, the company has been posting short videos and images of what appear to be field testing of its thermal sensor system. They’ve also made mention of the casino operator but haven’t gone any further than making a “relatable” post. Nevertheless, this week begins as last week ended: with big momentum in the market.
During pre-market trading on Monday, MARK stock has jumped back above $1.10 after closing the week out at $1.04. Will this week finally see a confirmation or denial of what the market is speculating on? Also, this is an important aspect to keep in mind. Considering that speculation is a heavy driver of momentum, MARK stock could be very volatile and depending on if/when the market finds out the actual situation between the companies, that volatility could grow even bigger.
Penny Stocks To Buy [or sell]: Kitov Pharma
Kitov Pharma (KTOV Stock Report) was one of the penny stocks we talked about over the weekend. The company’s operating segments include Pain and Hypertension, and Oncology. Most recently it would seem that attention is growing after Kitov closed one several rounds of capital raising.
This month the company closed a $10 million offering. Kitov said that it intends to use the net proceeds of this offering to fund the development of its oncology drug candidates and acquisition of new assets among other things. With the raise officially closed, it should be important to find out the price of the raise to understand any potential dilution risk presenting itself right now.
But what’s more interesting is if you look back at what the company was discussing in March. Kitov provided an update on the planned U.S. commercial launch of Consensi™. This is a treatment designed for osteoarthritis pain and hypertension, that was approved for marketing by the U.S. FDA. The Company’s manufacturing partner was completing the packaging, release and shipment of Consensi™ to Kitov’s marketing partners.
Why’s this important? Sales of Consensi™ are expected to begin in the U.S. in May 2020; this month. Considering the money being raised and no new related updates to this, it could be a speculative bet on if or when sales are set to begin. Regardless, KTOV stock has climbed above $0.50 during premarket trading on Monday. This is the first time it bounced back to these levels since early March.