Are These Penny Stocks To Buy Or Sell Before Friday?
As we all know, penny stocks are volatile. But that volatility can lead to quick gains in the stock market today. Albeit a high-risk investment option, these cheap stocks give the rush of a big win in short order. However, that doesn’t mean all penny stocks are the best ones to watch.
A keen eye for trading momentum and background in market fundamentals helps cut through the noise. Luckily, you’re reading articles from PennyStocks.com and we’re aiming to give you a little bit of insight to chew on along your journey to find top penny stocks.
In light of this, it’s important to remember what else is going on in the market. Understanding trends can help keep you ahead of the curve. What do I mean by this? Consider what has happened with coronavirus penny stocks. If you followed the trend, you would have seen an initial focus on biotechnology.
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Essentially an easy trend to the following seeing as any headline mentioning COVID-19 or coronavirus ended up sparking stock market momentum. Then we started to see a rise in delivery stocks and now there’s a trend building around stocks that could have applications for after the economy reopens. This isn’t to say that you should follow the trends but it is something to note when looking for penny stocks to watch.
Penny Stocks To Watch Under $1.50: Genius Brands (GNUS)
Shares of Genius Brands (GNUS Stock Report) saw another big day of momentum on Wednesday. We wrote about the company following its latest update. Genius announced the launch of a new network brand, Kartoon Channel, going live on June 15, 2020. According to Genius, the newly rebranded channel will “significantly expand the distribution”. This already reaches over 100M U.S. television households and over 200M users via OTT and mobile devices as it stands.
While shares pulled back slightly earlier this week, GNUS stock remained a top name to watch. This was based on consistent trading momentum that the market has recently seen. Fast-forward to Wednesday and GNUS stock is back up again. Something we actually noted in our last article about GNUS stock was the fact that the company had entered into securities purchase agreements with “long-standing investors”. Wouldn’t you know it, today’s announcement was citing these two raises.
Commenting on the matter, Chairman & CEO of Genius Brands, Andy Heyward, commented, “I am pleased to report that Genius Brands is in a stronger position today than ever before in its history. With last week’s announcement of Kartoon Channel!, launching on June 15 and available in over 100 million U.S. TV households and 200 million mobile devices, we have put an important stake in the ground to be one of the preeminent ad-supported kid’s digital networks.”
While this isn’t really new, news it does put the capital raises in the spotlight. Whiel we preach looking into corporate disclosures, many investors tend to only pay attention to the PR wires. This essentially took what many had already known and specifically highlighted what the company planned to do with the capital. In any case, GNUS stock is up another 60% today marking a rally of 270% since our May 6th update.
Penny Stocks To Watch Under $1.50: Izea Worldwide
Another one of the penny stocks to watch in May has been IZEA Worldwide (IZEA Stock Report). At the time, IZEA stock traded around $0.31. The company had just announced a streaming event to demonstrate the latest capabilities of BrandGraph®, its newly released social intelligence platform. According to the company, BrandGraph provides an analysis of share-of-voice, engagement benchmarking, category spending estimates, influencer identification, and sentiment analysis.
Furthermore, IZEA stock continued to run this week. On May 18, IZEA’s CEO will provide an overview of the BrandGraph platform. He’s also planning to reveal recent trends uncovered by BrandGraph, along with strategic recommendations designed to help marketers navigate the landscape created by COVID-19. Earlier this week, IZEA reported that it released its latest research initiative, “Open for Business: Consumer Intent as States Lift COVID-19 Restrictions”. According to the company, this U.S. consumer study examines the impacts of COVID-19 “Stay-at-Home” orders and contrasts responses from those living in “Open States” and “Closed States.”
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This may not be a major breaking development for the company. However, the market has taken it in stride. Shares continued climbing on Wednesday to highs of over $0.60 before the closing bell. Furthermore, IZEA stock has now climbed more than 100% since May 4.
Penny Stocks To Watch Under $1.50: Brickell Biotech
Shares of Brickell Biotech (BBI Stock Report) saw a surge of trading momentum on Wednesday. This came in the likely anticipation of the company’s pending earnings results after the market closed on May 13. Brickell will report its first quarter results for 2020. There hasn’t been much news since mid-March besides a few filings on raising capital.
In its last quarterly results, the company had come off of a new milestone in listing on the NASDAQ. On February 20, 2020, Brickell announced that positive results from its Phase 2b study with sofpironium bromide in patients with primary axillary hyperhidrosis were published in the peer-reviewed Journal of the American Academy of Dermatology. FOr the full year, revenue was $7.9 million. This compared to $10.9 million for the year ended December 31, 2018.
The company said the decrease was primarily due to the recognition in 2018 of a $5.0 million payment from Kaken. This is the company’s Asian development partner. Kaken’s Phase 3 pivotal study of sofpironium bromide gel were selected for oral presentation at the Late-Breaking Research Program during the American Academy of Dermatology Annual Meeting on March 21, 2020. Given the fact that results are due today, do you think this is a “buy the rumor, sell the news” situation or could BBI’s stock momentum continue later this week?