penny stocks to buy under 250

Are These The Top Penny Stocks To Buy Next Week?

Skeptics will always ask, “Can you make money with penny stocks?” Then, when a penny stock trader says, yes, they might get the follow-up question of, “but can you REALLY make money with penny stocks?” It’s safe to say that for most traders, the addition of “but” and “really” won’t change the outcome of the answer. So why would it appear that most people don’t make money with cheap stocks like these?

Aside from the fact that many so-called traders don’t do enough research, novices also might not have a proper education. While it’s important to have money in your trading account, it’s also a good idea to know what you’re doing. Now, don’t get me wrong, plenty of people will “YOLO” a trade and get lucky. But the ones who have a proper education and trading strategy in place will likely see more consistent success than the “YOLO-ers”.

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Are penny stocks worth it? That’s a great question. If you can handle high volatility, higher risk investments, then you might like penny stocks. Over the last few weeks, we’ve seen exactly how people are scoring big with stocks under $5. Even on Friday afternoon, some penny stock news triggered a huge rally for a company called Evofem Biosciences (EVFM Stock Report).

Can You Make Money With Penny Stocks?

Why bring this up? I could give you many different examples of penny stocks that hit it big. When I say “big” I’m talking about going from stocks under $5 to ones over $60 at times. Despite being thinly traded, its exactly that factor that can trigger a big move in price with a little bit of above-average momentum. Evofem was just the most recent example of how people can quickly make money with penny stocks. For the most part, EVFM stock traded around the higher end of the penny stocks definition.

Evofem (EVFM stock)

On Friday, shares closed at $4.99. Investors had a shot at seeing this trade below $4 earlier this year during the March market pullback too. In any case, after the closing bell, EVFM stock skyrocketed to highs of $8.98 after something big came to light. While Evofem didn’t officially announce anything, the U.S. FDA published something that showed the company’s drug received FDA approval.

The FDA showed that Evofem’s PHEXXI is “indicated for the prevention of pregnancy in females of reproductive potential for use as an on-demand method of contraception”. In light of this new information, those traders who look for key updates from the FDA caught onto this information almost in real-time. We’ll see what happens next week. But for the most part, based on the aftermarket activity, EVFM stock is a clear example of how penny stocks can quickly become much more than just “a company with cheap shares.”

Are These The Top Penny Stocks To Buy or Avoid Next Week?

Now, not all penny stocks become huge movers like this. But it does go to show you that research can pay off. No matter what, a strategy that involves diligence and an overall trading plan could separate you from other traders. So this begs the question: are these going to be penny stocks to buy or avoid next week? They’ve all gained strong momentum and seen bullish price action. They also can be bought for less than $2.50 a share right now. But just because they may be “cheap,” does that make them penny stocks to buy?

Top Penny Stocks To Buy Under $2.50: Genetic Technologies Ltd

Market Cap: $20.46M
Closing Price On 5/22: $2.40

Shares of Genetic Technologies (GENE Stock Report) saw a huge run earlier this year. From January 7 to the 10th, GENE stock ran from around $2 to highs of over $5.30. At the time, the initial catalyst came when the company said its breast cancer test was on track for commercial release in the US in the first quarter. But slowly and steadily, GENE stock slid during the rest of the 1st quarter. After announcing a $75 million offering, the market eventually sank to a 52-week low of $1.41. So what’s happened since then to put this on a list of sub-$2.50 penny stocks to watch?

[Read More] Penny Stocks For Beginners; How To Buy, Trade, & Make Money

Over the last few months, Genetic Technologies has firmly put its focus on COVID-19. Back in April, the company announced that it would temporarily transition its genetic testing laboratory to a high-throughput Covid-19 testing laboratory. Just last week, the company reported that it will start accelerating the development of a polygenic risk score test. This is used to predict an individual’s risk of developing life-threatening complications should they become infected with COVID-19.

On Friday, the company said that the next stage in the product development process will be to confirm and improve upon the initial observations as more patient data become available. On completion of that review of the additional patient data Genetic intends to seek CLIA registration of the product as a new polygenic risk score test. The company also said, “Normal commercial operations will recommence from 1 June 2020 following confirmation that the company can resume importation of samples from the USA.”

penny stocks to buy under 2.50 Genetic Technologies (NASDAQ: GENE stock chart)

Top Penny Stocks To Buy Under $2.50: Remark Holdings

Market Cap: $129.82M
Closing Price On 5/22: $2.26

Remark Holdings (MARK Stock Report) has been on the list of penny stocks to watch for weeks now. Ever since April 28 when the company gained media attention for its thermal imaging, MARK stock has been on the move. Something to understand after watching this company for so long is that much of the attention isn’t stemming from press releases. It’s actually been Twitter that has become a source of market catalysts for MARK stock.

Shares continued trading higher on Friday as well, closing at $2.26. While this isn’t the all-time high, it does continue a 3-week long uptrend in the stock. May highs still sit at $2.68. So what’s happened to make MARK one of the penny stocks to watch right now? Speculation and the appearance of company progress have captivated the attention of traders.

I say “appearance of progress” because there have yet to be any formal announcements made as to any actual deals being signed in relation to the locations of the company’s tweets. Needless to say, a picture is worth 1,000 words and that couldn’t be truer with MARK stock.

In its most recent tweet this week, the company’s tech appeared in some b-roll footage of a news interview on MSNBC. It showed the company in relation to Las Vegas’ reopening and footage of a University Medical Center event.

Remark Holdings UMC Vegas (MARK stock)

Nevertheless, this coming week could be a volatile one for MARK stock. 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. 

penny stocks to buy under 2.50 Remark Holdings (NASDAQ: MARK stock chart)

Top Penny Stocks To Buy Under $2.50: Biocept Inc.

Market Cap: $66.21M
Closing Price On 5/22: $0.505

Biocept Inc. (BIOC Stock Report) is another one of the top penny stocks on the list this year. In fact, since mid-January, we’ve been following BIOC stock closely. At the time, shares traded around $0.35. They then managed to climb considerably over the weeks to follow and saw a high of $0.789 a little over a month later. BIOC was one of the classic cases of coronavirus speculation. Its Target Selector™ is used to detect certain DNA attributes to suggest the presence of different mutations.

Of course, as a testing company, Biocept began focusing on COVID-19 testing as well. So, come to find out, the initial speculation “mutated” into reality. Though its Tweets haven’t become major catalysts, Biocept has begun stoking the fires of COVID-19 interests this week. In a recent tweet, the company referenced coronavirus and resistance of prostate cancer patients undergoing certain treatments.

BIOC stock could be on the radar again this week. The comapny announced that Michael W. Nall, Biocept President and CEO, will participate on the panel “COVID-19 Testing & Susceptibility – Clearing the Air”. This is hosted by Maxim Group and M-Vest being held on Wednesday, May 27.

The panel will include an interactive discussion moderated by Jason McCarthy, Ph.D., Maxim Group Senior Managing Director, Biotechnology. Among the topics to be discussed are the availability of COVID-19 testing and types of testing. The event is being held as the second installment in Maxim Group’s COVID-19 Virtual Conference Series. As we’ve come to know, Biocept isn’t a stranger to big moves. Will that remain the case heading into the final week of May?

penny stocks to buy under 2.50 Biocept Inc. (NASDAQ: BIOC stock chart

Top Penny Stocks To Buy Under $2.50: Diffusion Pharmaceuticals Inc.

Market Cap: $59.3M
Closing Price On 5/22: $1.24

Diffusion Pharmaceuticals Inc. (DFFN Stock Report) might be the longest-standing name among the names on this list of penny stocks. We began following it more closely after a very aggressive drop last year. In late-November, shares were trading under $0.32. At the time, Diffusion began turning heads after presenting early findings from a Phase 3 glioblastoma study. These findings showed that inoperable glioblastoma patients had increased survival results. Since then, DFFN stock has bounced between lows of $0.25 and highs of $0.55.

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But the recent momentum seems to have not only sparked strong momentum, but DFFN stock managed to bust through a major resistance level. It has also maintained trading above this level which may indicate it as a potential, new support. Regardless, the company has been attracting attention in the second quarter. It began after Diffusion announced that it has started a cooperative research effort with University of Virginia Health and the Integrated Translational Research Institute of Virginia. The co-op was to evaluate Diffusion’s novel small molecule Trans Sodium Crocetinate in patients with Acute Respiratory Distress Syndrome associated with COVID-19 infection.

Jump to this week and DFFN stock is continuing its uptrend. The company announced that it has entered into an agreement with the Romanian National Institute of Infectious Diseases. It will begin a clinical trial program to test Diffusion’s lead drug trans sodium crocetinate for the treatment of hospitalized COVID-19 patients presenting with lowered blood oxygen levels.

The company also closed on a $12 million offering at an average price of $1.05. However, Diffusion said it intends to use the net proceeds from the offering to fund research and development of its lead product candidate, TSC, including clinical trial activities, and for general corporate purposes. Friday’s session sparked new momentum and DFFN stock closed at $1.24. Will the latest cash infusion and clinical trial program continue to propel momentum through the end of May?

penny stocks to buy under 2.50 Diffusion Pharmaceuticals (NASDAQ: DFFN stock chart)

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