can you make money with penny stocks right now

These Penny Stocks Took May By Storm & Just Made New Highs This Week

The funny thing about penny stocks – maybe not that funny – is they can produce short-term, mid-term, and long-term gains. While most fall into the first two categories, we’ve seen certain penny stock go the distance. Just take a look at some of the names that hit it big in 2020 alone. One of the things that never make sense is when certain investors discount penny stocks just based on price. But the fact remains, you can make money with penny stocks. That doesn’t have to be once or twice but consistently.

What’s the secret to making money with penny stocks? Have a plan. Talk to any seasoned day trader and even investors, they’ll likely tell you the same thing. You must have a plan in mind before you decide to buy stocks. You should also have a plan when it comes time to sell. If the goal is making money with penny stocks, then focus on that.

I know how easy it might be to fall in love with certain companies especially if they’ve gotten hyped up on social media. But never forget, you’re trading penny stocks to make money.

Making Money With Penny Stocks

How can you take advantage of momentum in case there’s long-term potential? As some traders put it, “holding a core” is one way to benefit if penny stocks take off. This is a very basic breakdown, but by taking an early (starter) position in certain stocks, you establish a potentially low cost basis. From there, trading “on the way up” means you’re buying and selling portions of new and old positions as a stock climbs.

Even if there’s consolidation, your “core” should allow your overall price per share to remain lower. By holding that core, you should, in theory, have already made most of your initial capital back. Now, if the stock goes on a crazy run, you’ve got the core to benefit from. Why not hold the whole position? Well, let’s say the trade doesn’t go well. Instead of selling pieces, you’re holding a much larger, losing position in the end.

Read More

If this seems confusing, it’s a more advanced way of day trading/swing trading. But if you’re interested in learning more about tiered trading and day trading in general, there are great resources we can point you too. Just remember, the plan is important. With this in mind, let’s take a look at a quick list of penny stocks that have just reached new May 2020 highs. There’s also one honorable mention, I’ll explain.

Penny Stocks To Watch: Revive Therapeutics, Ltd.

Revive Therapeutics, Ltd. (RVVTF Stock Report) (RVV) was one of the penny stocks we’ve watched since the middle of the month. Since then, RVVTF stock has jumped as much as 95%. This was when the company announced advancing its main programs in COVID-19 and psychedelics with the aim to initiate clinical studies in the short-term. As psychedelic penny stocks have been an exciting, new niche, many don’t have the diversity to handle high-volatility and uncertainty to such a new concept. We saw this during the early days of the boom in marijuana stocks.

The companies that didn’t have diversity saw some great success but also some major failures in the market. Of the companies that maintained an overall strength in the stock market, biotech stocks had numerous channels that attracted investors. Essentially, when the future was unclear for cannabis, most marijuana stocks dropped. But companies with a biotechnology application, either didn’t drop as much or actually jumped because of the biotech focus and angle on health care.

With Revive, the company holds a portfolio of assets hinged on health care but involved in multiple facets. Case in point, most psychedelic stocks have pulled back this week yet RVVTF just made new May highs. The FDA recommended that Revive proceed directly into a Phase 3 confirmatory clinical trial  to evaluate Bucillamine for the treatment of patients with mild-moderate COVID-19 due to the SARS-CoV-2 infection in order to “ensure expeditious evaluation of the safety and efficacy of Bucillamine.”

penny stocks to watch Revive Therapeutics (RVVTF stock chart)

Penny Stocks To Watch: Tetraphase Pharma

Tetraphase Pharma (TTPH Stock Report) is another one of the penny stocks we’ve had on the list in 2020. When we first began following it closely, TTPH stock was trading around $1.24. This morning before the open, TTPH stock hit a new May high of $3.98. Late Thursday evening, Tetraphase released a new update regarding the recent bidding war for the company. If you remember what we discussed on May 21, the climate for mergers and acquisitions of the company is red hot. But because of the indecision so far, it makes sense why analysts would have this kind of rating on TTPH stock before this week. We highlighted the specifics of the potential deals in front of the company.

In particular, the board said, “At this time, the Tetraphase Board (1) continues to recommend the AcelRx Merger Agreement with AcelRx to its stockholders, (2) is not modifying or withdrawing its recommendation with respect to the AcelRx Merger Agreement and the merger, or proposing to do so, and (3) is not making any recommendation with respect to the Melinta Proposal or the Melinta Merger Agreement.”

Those details were further outlined in its press release late Thursday. Furthermore, the importance right now is simple. If the Melinta proposal continues to be the superior offer through May 29, the company said its board will consider terminating the AcelRx deal. Melinta has offered to acquire Tetraphase for $27 million in cash, plus an additional $12.5 million in cash potentially payable under contingent value rights to be issued in the proposed acquisition.

penny stocks to watch Tetraphase (TTPH stock)

Penny Stocks To Watch: Sundial Growers

While most marijuana penny stocks are fading today, Sundial Growers (SNDL Stock Report) is hitting new May highs. The marijuana penny stock has been trading well below $1 since the start of Q2 2020. However, this week the company scored new momentum after making an update.

What did Sundial announce? Specifically, it didn’t announce anything itself. But industry news points directly to the company. If you hadn’t heard, news came out in the Calgary Herald suggesting certain cannabis strains could protect against COVID-19. The Herald quoated biological scientist Dr. Igor Kovalchuk. “After sifting through 400 cannabis strains, researchers at the University of Lethbridge are concentrating on about a dozen that show promising results in ensuring less fertile ground for the potentially lethal virus to take root,” Kovalchuk said.

[Read More] 3 Top Penny Stocks To Watch After Key Updates; Is Marijuana Back?

By chance, his Pathway RX is owned partly by licensed cannabis producer Sundial Growers. If you haven’t guessed by now, Kovalchuk is leading a study on medical cannabis as a potential therapy for COVID-19. What’s interesting is that the actual article came out earlier this month. But a New York Post citation of that information released this week seems to have shined a real spotlight on the study. Thanks to this, SNDL stock is on the move on Friday. Shares reached new 2020 highs of $1.28.

penny stocks to watch Sundial Growers (SNDL stock chart)

Penny Stocks To Watch: Remark Holdings [Honorable Mention]

Shares of Remark Holdings (MARK Stock Report) broke back above $2 this week. It’s been on the list of penny stocks to watch since the end of April. At the time, MARK stock was still trading around $0.45. Fast-forward to this week and shares have managed to reach highs of $2.68 this month. A lot of the focus has been on the company’s latest developments. But unlike other penny stocks, Remark has been using Twitter as its medium of public communication.

The company has continued showing a number of what appear to be beta set-ups. Ranging from apparent locations in Las Vegas, Miami, and Los Angeles. I say “apparent” because the company hasn’t formally announced anything in press nor filings. Needless to say, MARK stock has been on the move.

As we said earlier this month, the one thing we do know for sure (maybe the only certainty) is that it reports financial results on May 28th. Hopefully, for those with MARK stock on their list, the company can bring some clarity to this latest barrage of Twitter activity. Why is MARK stock an honorable mention?

That run to new 52-week highs was great but it was parabolic. As we saw, shares dropped quickly. But overall, even without those dates involved on the charts, the overall trend has remained strong. Honorable mention is in the fact that without those dates, MARK stock is still up near highs for the month of May.

penny stocks to watch Remark Holdings (MARK stock chart)
penny stocks Revive Therapeutics RVV Disclaimer

Click here for full disclaimer

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 |

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top Penny Stocks To Trade Under $3.50 Right Now

5 Penny Stocks That Can Be Traded For Under $3.50 Right Now;…

2 Penny Stocks To Watch: Yamana Gold (AUY), Nio Inc (NIO)

There Are Certain Penny Stock Sectors To Watch At Different Points Of…