best penny stocks to buy now

Are These On Your List Of Penny Stocks To Watch?

If you’re looking for some penny stocks to watch today, it’s important to understand certain trends. For instance, countless stocks under $5 have made huge moves this year thanks to COVID-19. However, not all penny stocks dealing with coronavirus were multi-month movers.

Understanding how to read the news, knowing where the discounted stock is (from funding rounds), and having a general feel for momentum is important. It’s easy to buy penny stocks, no doubt. But when it comes time to sell, psychology plays a very big (and potentially detrimental) role.

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Having a strategy and truly sticking to it sets the pros apart from the rest of the pack. Look at any of the penny stocks on reddit right now and you’ll easily see how people can get caught up in the dream. That’s “the thing” though, right? Penny stocks are all about “potential” and the “what if” side of the market.

Trading Penny Stocks & Learning The Basics

All of that is great but you can’t forget why you bought penny stocks in the first place: to make money! If you find out a company just released news ‘one day’ and bought the stock saying to yourself, “I want to make X% with this trade,” that’s a good place to start. However, if that same company starts to get hyped up by social media “furus”, and the stock goes higher based on touts, do you hold or fold?

[Learn More] 5 Key Lessons Guaranteed to Make You a More Profitable Trader

What do some of the professional traders say? Most would agree to sell on the way up and if you are interested in taking a gamble that a stock goes higher, a small “core” could be the best bet. It allows traders to take most of their profit out of the market and just play with “house money”. The best part is that if the penny stock goes higher, you would have a much lower cost basis.

But if it goes lower because the hype wasn’t real, then you haven’t lost any of your “own money”. The point is, have a plan in place and don’t let emotions dictate your approach to trading penny stocks. With this in mind, let’s have a look at a few trending penny stocks today. Will they be on your list to buy or sell?

Best Penny Stocks To Buy [or avoid]: Heat Biologics

penny stocks to buy heat biologics (HTBX)

Heat Biologics (HTBX Stock Report) has been one of the coronavirus penny stocks to watch ever since the end of February. At the time we first started to look at HTBX stock, it had just closed out its week at $0.33. Heat Biologics focuses on cancer and T-cell stimulation. Back in December, the company reported that it had dosed its first patient in a Phase 1 trial of its t-cell treatment, HS-130. But up until recently, the focus has been on COVID-19.

According to the company, it established the board to help boost the company’s COVID-19 vaccine and diagnostic programs. The company’s gp96 platform is designed to target the SARS-CoV-2 coronavirus that is behind COVID-19. This week, however, Heat Biologics announced a new update on its oncology pipeline. Heat has been selected to deliver a poster presentation at the ASCO Annual Meeting, to be held virtually from May 29 – 31, 2020.

According to the company, HS-110 is currently in Phase 2 trial in combination with Bristol-Myers Squibb’s Opdivo® (nivolumab) for multiple treatment settings in advanced non-small cell lung cancer. Exploratory biomarker analysis on cancer testis antigens was performed using patients’ tumor tissue at baseline. In this evaluation, improved overall survival was observed. Given these data and the upcoming presentation, it looks like HTBX stock is on the radar once again.

Penny Stocks To Buy [or avoid]: Kitov Pharma Ltd.

penny stocks to buy sell kitov pharma (KTOV stock)

Kitov Pharma Ltd. (KTOV Stock Report) has been growing in popularity over the last few weeks. However, the recent price performance hasn’t matched with the hype this week.

Nevertheless, trading momentum remains high and recent news appears to have sparked interest in the penny stock. On Thursday, Kitov announced that the positive results of a previously reported Phase 1 trial of CM-24 will be presented in a poster presentation at the ASCO Annual Meeting as well.

“These Phase 1 results are encouraging and indicate that CM-24 at higher doses warrants further evaluation in a larger clinical study, and we are proud to be able to present them as a poster at ASCO 2020. Importantly, PK modelling suggests that higher doses of CM-24 of up to 20mg/kg administered every two weeks would be required for target saturation,” said Isaac Israel, Chief Executive Officer of Kitov.  

Since this is a trial conducted in collaboration with Bristol Myers Squibb, it could be a big topic of discussion. Phase 1/2 has already been planned for the second half of 2020. So, for now, we’ll see what type of speculation develops leading up to this May 29th presentation. Will KTOV stock manage to break this 3-day slide or will the trend continue?

Best Penny Stocks To Buy [or ignore]: BioPharmX

penny stocks to buy sell BioPharmX (BPMX)

BioPharmX (BPMX Stock Report) has been a wildly traded penny stock all year. We covered it early on in January when shares broke out to highs of over $1. BPMX stock slid in February, jumped in March, slid in April; you get the picture.

While the longer-term trend is pretty flat, there have been intermittent spikes that have produced big gains for short-term traders. This is one of the points I was making above in learning how to break down trends and information.

[Read More] What Are The Best Penny Stocks To Buy? 3 To Watch Right Now

Needless to say, the most recent focus has been on a pending merger. BioPharmX and TImber Pharmaceuticals previously agreed to a deal. Via this deal, Timber affirmed it would secure “not less than $20 million of financing” for the company. There would be a name and symbol change to go along with it. Obviously, shareholder don’t always approve of mergers but when they do, it’s nice to know both sides are willing to play ball.

This week, the company announced that all proposals related to its proposed merger were approved by BioPharmX’s stockholders. If BPMX stock is on your list right now, make a note that the symbol will change to “TMBR” along with the name changing to Timber Pharmaceuticals, Inc. The big question: will TMBR manage to put a longer-term “spin” on the public market’s side of the business or will it remain a penny stock for short-term traders?

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