Are These On Your List Of Penny Stocks To Watch Now?
There’s nothing like finding top penny stocks at the beginning of a new month. Something about starting fresh even though not much may have changed since last week. Over the weekend, a few big events happened that could be in the news cycle this week. They may also have speculation directing some attention to a few names at the start of the month.
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One of the biggest things we’ve seen this year is that speculation plays a big role in certain penny stocks. Whether it’s the SpaceX launch from the weekend or the latest Fed policy from earlier in the year, these cheap stock can be greatly influenced by headlines. Whether it is sector news or more global headlines, the importance is being able to decipher fact from fiction.
Penny Stocks, News & Speculation
You should also understand how to use speculation to your advantage to make money with penny stocks. Just keep that last part in mind. It’s easy to get caught up in the hype around some penny stocks. So make sure you don’t forget why you’re “using” the speculative momentum in the first place; to make money if stocks rise.
Coronavirus headlines are still creating lots of buzz. But recent events like riots across the U.S. and as stated above SpaceX maiden, human launch might build on some speculation that’s already been floating around in the stock market. Furthermore, you may also find it beneficial to check and see if there are big industry conferences or results due out this week.
Many times, companies can reveal timely information that might result in a big move for certain penny stocks. That move, obviously, can be in one direction or another. With this in mind, let’s take a look at a short list of penny stocks to watch heading into the new month.
Penny Stocks To Watch: Celldex Therapeutics, Inc.
Celldex Therapeutics, Inc. (CLDX Stock Report) works to develop targeted therapeutics. Earlier this month the company announced results from the Phase 1 study of CDX-0159 were accepted as a late-breaking poster presentation at the European Academy of Allergy and Clinical Immunology.
It’s being held from June 6-8, 2020. The study will be presented by Dr. Marcus Maurer, Professor of Dermatology and Allergy. The company’s treatment is an immunotherapy used to directly inhibit tumors to treat specific types of cancer.
While the early part of this year wasn’t very kind to CLDX stock, the last few weeks have see shares rebound from 52-week lows of $1.50 to recent highs of $3.32. Since reaching those highs, the penny stock dropped back to sub-$3 levels.
What To Know About CLDX Stock
The upcoming presentation doesn’t happen until the weekend but CLDX stock could be one to watch ahead of any speculative momentum in the market. If you look at the late-day trading on Friday, you can see how shares managed to bounce back from early lows and close at the high of the day.
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Something else to note about Celldex is what’s planned for later this year. June marks the halfway point of 2020. In light of this, we’ll start to see the outcome of planned milestones for “H2” or “the second half” of the year. Celldex has said it’s also completing preparations to advance its CDX-527. The treatment is the first candidate from its bispecific platform.
The company aims to push it into a Phase 1 study in refractory, advanced cancers slated for the second half of the year. For now we’ll have to wait and see how the market reacts leading up to the June presentation.
Penny Stocks To Watch: Vislink Technologies
Vislink Technologies (VISL Stock Report) has been one of the penny stocks to watch since late-April. You might remember this one from the time we talked about penny stocks under $1. At the time, VISL stock traded around $0.25 and just announced receipt of a $180,000 order for satellite communications equipment for deployment in Asia. It was also chosen by Italian Integrator NVP SpA to provide High Definition ‘Live’ On-Board Video Systems for the European Ferrari Challenge Race Series.
One big event this weekend could have the market looking for potential “sympathy” stocks as a result. History was made with the latest launch of 2 humans into space via the SpaceX Falcon event this weekend. As such, the aerospace sector and companies with related components may capture early attention in my opinion.
If you’re not familiar with Vislink, the company, among other things offers satellite technology & communications products. The company appointed Jim McGowan as Vice President and General Manager of its MilGov Business Unit in March. His previous experience at FLIR System and prior to that, Pilatus Business Aircraft, where as VP of Fleet & Government Sales could give Vislink an opportunity to tap into his connections. Needless to say, space and satellite stocks may see extra attention in light of this historic event.
What To Know About VISL Stock
Keep in mind that it may be more speculative in nature than anything else. Something else to note is that there are posts circulating online of an apparent Vislink satellite in the camera shot on C-Span’s coverage of the SpaceX launch. But it doesn’t appear to have much to actually do with SpaceX itself and looks more like a simple broadcast satellite than anything else. View this video here and go to the period between 1:00:40 and 1:01:00 to see for yourself.
If you blink you might miss it. Considering there was no press release even remotely related to any involvement, I would personally take that into account as well. Needless to say, it’s something to note as you do your diligence on the penny stock. This may be a topic you stumble upon. As they say, a picture is worth 1,000 words. Video, however, will give you more context to chew on than just an image. Besides this, what we definitely do know, is that in a few weeks the company holds its Annual Meeting of Stockholders (June 17th).
Among the items to vote on, the company will look “To approve an amendment to the Company’s Certificate of Incorporation, as amended (the “Certificate of Incorporation”), to effect a reverse stock split of all of the outstanding shares of the Company’s common stock”. However, the attention and speculation this weekend could make it one of the penny stocks to watch for now. If VISL is on your list of penny stocks right now, what do you think about it?
Penny Stocks To Watch: AIM ImmunoTech
Aim ImmunoTech (AIM Stock Report) is another one of the penny stocks that has continued to be on watch lists this year. Since late-January, AIM stock was one to watch amid the coronavirus pandemic. At the time, shares traded around $0.80 and the company was focused on its flagship drug being studied in 6 immuno-oncology clinical trials. Bring in COVID-19 and things begin to evolve for AIM.
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In its last update, AIM ImmunoTech announced that the U.S. FDA authorized the first human trial assessing the safety and effectiveness of the company’s lead asset, Ampligen (rintatolimod). This would be in combination with interferon alfa-2b, in cancer patients with COVID-19. So, while it still managed to focus on the foremost target, cancer, AIM also found a way to apply it to cancer and COVID-19 as well.
What To Know About AIM Stock
Dr. David Strayer, Chief Scientific Officer, stated in the last update, “We are extremely pleased that Dr. Kalinski and his team at Roswell Park have obtained FDA authorization to initiate this combinational study. It uses Ampligen in combination with interferon for cancer patients with COVID-19.
Historically, Ampligen was shown to have synergistic antitumor and antiviral activity. This was when combined with human interferons in studies published in the 1980s. A clinical study was conducted using Ampligen in combination with interferon in patients with solid tumors.”
Also keep in mind that outside of COVID-19, Ampligen’s treatments have also made progress for cancer applications specifically. Earlier this year The National Cancer Institute issued an award of $14.54 million. This was to Roswell Park Comprehensive Cancer Center to test chemokine modulation incorporating AIM ImmunoTech ‘s Ampligen as an immuno-modulator.
This was part of a strategy to turn ‘cold’ tumors into ‘hot’ tumors. Hot tumors simply refer to “treatable” tumors. Will its oncology pipeline paired with COVID-19 progress help continue the latest trend? Comment below if AIM stock is on your list this week.