Are These Penny Stocks On Your Watch List Today?
Penny stocks with news are among the most sought after. Why? In most cases, day traders look for potential catalysts that could spark momentum. In light of this, favorable news, penny stocks tweeting a big update, or significant financial information disclosed could all be reasons for people to take a closer look at certain penny stocks.
I can safely say that this year has been full of example of exactly this scenario. That’s not likely to stop, either. When you consider penny stock news as part of your research, it’s important to understand the “next steps” so to speak. Is the news a simple update on what’s happening “right now”. On the other hand, does the news suggest further potential for the foreseeable future?
We all know timing is important when it comes to penny stocks. When news is a factor, dissecting the information is key to getting a general understanding of how it will impact the market now and later on. With this in mind, we’re going to take a look at a few top penny stocks turning heads on Tuesday after some new updates. Will they become the best penny stocks to buy as a result? That’s going to be entirely up to you.
Top Penny Stocks to Watch #1: IMC International Mining
If one thing’s certain, it’s that gold is on fire in 2020. Gold futures came within striking distance of 52-week highs late last week. Fueled by another potential round of stimulus, slowing economies around the world, and historically low-interest rates, safe-haven gold stocks are among the top stocks to watch in the market.
In line with this, junior gold or “gold penny stocks” have taken a piece of the action. IMC International Mining (IMIMF Stock Report) (IMCX) has been one of these gold explorations companies we’ve followed for quite some time. Initially, the focus was on a “pending acquisition” earlier this year. However, once confirmed, IMC International has been working swiftly to find the true potential of “what lies within”.
That “potential” came one step closed on Tuesday after its latest update. IMC International announced results from its on-going compilation of work from its recently acquired Thane Property. Work on the Property has identified six areas of “significant gold ± copper ± silver mineralization”. The results from IMC’s compilation work presented in this news release are for the Cathedral Area only.
“Exploration results to date have shown the potential for a significant copper-gold alkalic porphyry system within the Cathedral Area. We are currently preparing to follow-up these exciting results with a detailed IP survey, geological mapping, and geochemical sampling as a Phase-1 summer program. Our goal is to determine the best targets for diamond drilling this fall,” stated Brian Thurston, Chief Executive Officer and President of IMC. With a “significant system” identified and a clear timeline outlined, could IMIMF be one of the top gold penny stocks to watch right now?
Top Penny Stocks To Watch #2: Oragenics Inc.
Another hot topic has been biotech penny stocks. Oragenics Inc. (OGEN Stock Report) came out with its own big news on Tuesday. The company announced an agreement between its subsidiary, Noachis Terra Inc and Aragen Bioscience to advance TerraCov2 the company’s SARS CoV-2 vaccine candidate. Aragen will provide cell line development services to Oragenics to aid in the development of Oragenics’ TerraCoV2.
“Developing a variety of vaccine alternatives is critical to bringing the SARS-Cov-2 pandemic under control. Utilizing the technology created at NIH with Aragen’s pre-clinical development capabilities will help us accelerate the development of the TerraCov2 vaccine candidate. We believe the relationship between the companies will result in advancement of the vaccine candidate into the clinic as rapidly as possible,” said Alan Joslyn , Ph.D., President and CEO of Oragenics.
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This comes just weeks after the company acquired Noachis Terra Inc. It holds a worldwide, nonexclusive license to the TerraCoV2 vaccine candidate from the National Institute of Allergy and Infectious Diseases. This was a deal we had previously discussed for quite some time now. While trading activity has been sporadic, this latest uptrend has held for most of May. Will OGEN stock remain on the list of penny stocks to watch after this news?
Top Penny Stocks To Watch #3: Nano Dimension
You also cant forget about tech penny stocks either. Always aiming for the cutting edge, breakthrough developments can become strong catalysts for momentum. On Tuesday, Nano Dimension (NNDM Stock Report) has started to realize this. Pre-market momentum came into play after the company announced that it and HENSOLDT achieved a major breakthrough on its way to utilizing 3D printing. Specifically, it’s in the development process of high-performance electronics components.
Utilizing a newly developed dielectric polymer ink and conductive ink from Nano Dimension, HENSOLDT succeeded in assembling the world-wide first 10-layer printed circuit board. If you’re not up on the latest in 3D printing, let’s explain. Until now, 3D printed boards could not bear the soldering process necessary for the two-sided population of components. That’s according to Nano Dimension. NNDM stock began climbing after the update was released.
“Military sensor solutions require performance and reliability levels far above those of commercial components,” said HENSOLDT CEO, Thomas Müller. “To have high-density components quickly available with reduced effort by means of 3D printing gives us a competitive edge in the development process of such high-end electronic systems.”
Top Penny Stocks To Watch #4: Inpixon
Finally, Inpixon (INPX Stock Report) has been on and off the list of penny stocks to watch this year. The last time we updated on this company, Inpixon had announced Q1 results for 2020. The big focus was the company’s involvement in the “back to work” transition for businesses.
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“Businesses are asking for Inpixon’s help in facilitating back-to-work transitions in a time when understanding what is happening within our indoor spaces has never been more important,” noted Nadir Ali , Inpixon CEO.
This week, the company continued to focus on forwarding progress with the appointment of Tyler Hoffman as Chief Revenue Officer. Specifically, Hoffman’s track record comes as a welcome sight to Inpixon. He served more than 20 years in revenue leadership positions at companies including PayPal, Google, Visa, eBay, and CNET Networks. Will this latest update continue to spark bullish sentiment in the market for INPX stock this week?