penny stocks to buy right now

These Penny Stocks Are Surging In March

When it comes to trading penny stocks, catalysts are never a bad thing to look for. The most important part of these, however, is to understand what it means for a company, specifically. New catalysts, for instance, can leave both short term or lasting impacts on certain penny stocks. So it’s important to read through whatever you find in order to get an understanding of the magnitude of such an event.

This week we’ve seen sector news trigger short-term spikes for certain oil and gas penny stocks. On the other hand, we’ve also seen some biotech penny stocks reveal big progress on pipeline treatments sending them on a multi-day rally. While looking at penny stock charts is never a bad idea, news, filings, and even rumors can be sources of momentum; not just a bull or bear flag “set up”.

Take, for instance, Tesla (TSLA Stock Report). This company reached new all-time highs earlier this month. That event alone was the source of optimism for certain electric vehicle-related penny stocks. Even without the news, a major milestone such as that trigger higher hopes from investors in the industry.

[Read More] Best Penny Stocks To Watch Under $4 In June 2020

Similarly, we’ve seen this happen constantly within the cannabis industry. Both early on in its history of legalization as well as more recently, sector-related news can produce an overture of optimism in the industry. When the deal was announced between Constellation Brands (STZ Stock Report) and Canopy Growth (CGC Stock Report), most marijuana penny stocks & large-caps alike went into a bullish trend.

The same thing happened with Canada nationally legalized recreational pot. Keeping this in mind, let’s take a look at a few penny stocks trading higher on recent event catalysts. Will they be on your buy or sell list this month?

Penny Stocks To Buy [or avoid]: PolyMet Mining Corp.

PolyMet Mining Corp. (PLM Stock Report) was on the list of penny stocks to watch on Tuesday. If you’re looking at the stock making moves right now and wondering why, then you won’t likely find much by going to its headlines. The last announcement that came was regarding the departure of of Brad Moore, its Executive VP. So what happened to trigger a jump for PLM stock this week?

Well, you need to look at what the company does and “who it knows”. PolyMet is a mine development company that owns 100% of Poly Met Mining, Inc. that controls 100% of the NorthMet copper-nickel-precious metals ore body through a long-term lease. Now, since we have a base, who does PolyMet “know”? Ever hear of a company called Glencore? It’s one of the world’s leading mining companies, and owns roughly 72% of PolyMet’s issued shares.

This is significant this week because of one company, Tesla. As mentioned above, Tesla has done things that have become a trickledown effect for certain stocks. This week it was revealed that Tesla plans to use cobalt from Glencore to build lithium-ion batteries at its new factories, according to industry sources.

The information was first cited by the Financial Times and both Tesla and Glencore declined to comment, according to additional reports. Now, will this catalyst become a lasting source of momentum for PLM stock? That’s still to be seen. But given that this is the second-highest volume day of the year, it may be a notable event to take into account.

penny stocks to buy analysts PolyMet (PLM Stock Report)

Penny Stocks To Buy [or avoid]: Biolase Inc.

Biolase Inc. (BIOL Stock Report) is another one of the top trending penny stocks to watch right now. While BIOL stock has been incredibly volatile, the overall trend has been up. Since hitting 52-week lows in March, BIOL stock climbed to a recent level just over $0.50. Between here and there, the penny stock saw a few parabolic moves. Some took shares as high as $0.96 while more recent jumps saw BIOL reach highs of $0.82.

On Tuesday, Biolase stock didn’t see a big price move but volume did pick up. If you’re a fan of Twitter, then you’ll be happy to know the latest source of excitement stems from a company Tweet. The company will host an “Exclusive Webinar” going over its technology to reduce aerosols. It may not seem like a big deal to some but the source of even mentioning this is likely due to coronavirus.

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Essentially, findings suggest that the COVID-19 virus can remain in the air for a set amount of time. Dental workers will obviously encounter extended periods of time with such situations. Biolase develops, manufactures, markets, and sells laser systems in dentistry and medicine. The webinar is set to happen later this month. As far as analysts are concerned, BIOL stock has an overall “Strong Buy” rating as of this article’s publish date.

penny stocks to buy analysts Biolase Inc. (BIOL Stock Report)

Penny Stocks To Buy [or avoid]: Remark Holdings, Inc.

Remark Holdings Inc. (MARK Stock Report) is another one of the penny stocks that has been on the watch list for months now. Since late April we’ve been following the key developments of this company. If you’re not familiar with Remark right now, that’s ok. A lot of the attention, however, has come in relation to the U.S. economy reopening. Remark has thermal imaging products that can detect things like temperature fluctuations in people entering venues.

While many of the catalysts that have come from Remark, started on its Twitter feed, this latest one might be a bit different. It comes from something not announced by the company and simply revealed online if you search for new FCC information. On June 16, Remark was found listed on the FCC site corresponding to 4 Applications with grants for certain products:

Considering that this information is on the FCC site first and hasn’t been reported by the company (yet), it may be information to take into account. As far as analysts are concerned, MARK stock has been rated a “Strong Buy”. Considering what’s going on across the U.S. right now, Remark has been at the center of big speculation. It has tweeted countless images of its technology being used in event space lobbies and even in hotel lobbies over the last few months. Of course, you can check all of the previous history in a “few” of the articles we’ve posted on MARK stock, here. In any case, given the latest, is MARK on your list of penny stocks to buy or avoid right now?

penny stocks to buy analysts Remark Holdings (MARK Stock Report)

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