penny stocks to watch before next week

Are The On Your List Of Penny Stocks Right Now?

We’re heading into the first week of June and penny stocks couldn’t be any hotter. The riots over the weekend and continued increase of coronavirus cases have a number of stocks taking off on Monday. The biggest question now is whether or not these penny stocks will be able to continue to push higher still.

This is an important factor to keep in mind with penny stocks, especially. Headlines can become great catalysts for momentum in the stock market. But it’s also important to understand that small-cap stocks can benefit in the short-term. However, longer-term potential could be fleeting depending on the news.

Sector news, especially, can be a bit difficult to navigate for some. For instance, with marijuana stocks, a positive industry update can trigger a move across most marijuana penny stocks. It is, however, normal that such news charges the sector for a day or two and then pot stocks return to their previous trends. Over the weekend, we saw some historic things happen.

Read More

SpaceX launched and marked the first time in decades that a U.S.-built spacecraft launched from U.S. soil. We also saw nationwide riots hit major cities in protest of George Floyd. Good news or bad, these events have fueled speculation and trading activity in certain penny stocks. Are any of these names on your list right now?

Penny Stocks To Watch: Minerva Neurosciences

This was one of the penny stocks we discussed last week showing an example of how biotechnology news can trigger big moves in the market. For Minerva Neurosciences (NERV Stock Report), the breakdown of the stock was terrible if you were looking at it on May 28th. But for us, we saw it when NERV actually became a penny stock. Shares dropped to lows of $1.81 but have since ripped higher over the last 2 sessions. On Monday, NERV stock reached a high of $4.80 during the early morning session.

The stock dropped in the first place after the company reported that its Phase 3 trial of the drug, roluperidone. It’s used to treat negative symptoms in schizophrenia. However, it did not meet its primary and key secondary endpoints. Is there light at the end of the tunnel? That is yet to be seen but the recent rebound in price could suggest the market has hope.

“We are encouraged by the results obtained in this study which expand upon the outcome of the Phase 2b study that showed improvements in the primary endpoint and in multiple secondary endpoints,” said Dr. Remy Luthringer, Executive Chairman and CEO of Minerva. What’s more is that the company will hold a webcast on June 5, 2020 at 8:30 a.m. Minerva presents additional results and analyses from its Phase 3 trial in negative symptoms. Will this be the positive catalyst the market was looking for or will new items surface to build more uncertainty with Minerva’s future? Comment below if NERV stock is on your list this week.

penny stocks to watch Minerva Neurosciences (NERV Stock Chart)

Penny Stocks To Watch: Digital Ally

Back in April, we revisited Digital Ally (DGLY Stock Report) as it “diversified” a bit. The company announced a partnership with Trust Think Products, LLC, the exclusive distributor of the Danolyte® disinfectant. In a bid to grasp hold of the growing COVID-19 trend in the market, the news itself didn’t excite the market as much as some may expect. However, it didn’t trigger a major sell-off either. During the weeks to follow, DGLY stock traded in a channel that saw it test the 200-day moving average twice. But, it failed to break this major technical level.

That is, until this week. Aside from the tangent to get involved with disinfectant, Digital Ally Digital specializes in advanced body-worn cameras and vehicle cameras for law enforcement among other things. The recent riots across the nation have triggered a mad-dash for some to take advantage of this fact as it has seen interest in certain sectors. Guns, defense, and body-worn technology are several benefiting. In the case of DGLY stock, shares gapped up to more than $2 on June 1.

[Read More] 3 Penny Stocks That Hit It Big In May 2020

It also saw highs of $2.79. It’s very important to note this as millions of shares have switched hands and DGLY stock has moved up more than 200% since we last covered it in April. It’s also up more than 220% since the start of the quarter. Pulling up the 1-year chart will show you DGLY filled the gap from back in June of 2019. That’s when the $2.50 area was a relatively consistent level of support in the stock. Can DGLY stock continue moving higher?

penny stocks to watch Digital Ally (DGLY Stock Chart)

Penny Stocks To Watch: Nio Inc.

Finally, Nio Inc. (NIO Stock Report) has caught some attention over the last week. While Tesla doesn’t technically have much to do with SpaceX, per se, it’s connected through Elon Musk. Obviously investors are paying close attention to SpaceX and Tesla, regardless. How is Nio wrapped into all of this?

If you’re unfamiliar with the company, it’s an electric vehicle manufacturer out of China. While Tesla has caught attention from SpaceX’s success, EV stocks might also be in focus in sympathy with this development. In a recent Bloomberg interview, Chief Executive Officer William Li said that the company sees rival Tesla Inc. (TSLA Stock Report) as more of an ally than a competitor.

“We do compete against each other, but in general we are allies,” Li said. “In fact, our sales kept growing since Tesla started production in Shanghai.”

In April, the company closed a definitive deal for a 7 billion yuan ($1 billion) investment. This came from entities led by the Hefei municipal government in China. The result was a bit of cash concerns alleviating in the short term. “We are confident to have secured sufficient funding for the company’s development,” Li said. NIO stock has continued on its multi-week uptrend that began in late-May. Shares reached early highs of $4.27.

If you remember when we first discussed NIO stock, it had gotta slammed after reporting a very uncertain outlook for the company. Since then company leadership has made a point to focus on the turn-around of the company. Will NIO stock break back above $5 once again or is it looking at another slide lower this month?

penny stocks to watch Nio Inc. (NIO Stock Chart)

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 | news@pennystocks.com

Leave a Reply

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

You May Also Like

Junior Gold Stocks Creating Massive Opportunity for Investors!

An Immediate Stock Alert is Being Called On: IMC International Mining Corp…

Penny Stock Liberty TripAdvisor Climbed 2,871% In A Day; How?

Shares Of Liberty TripAdvisor Holdings Inc. B Shares Left The Penny Stock…