penny stocks to buy under 2 50 right now

Will These Be The Best Penny Stocks To Buy In Q3?

It’s crazy to think about penny stocks like this but some of the top performers in the stock market today have been penny stocks. Thanks to the coronavirus, not only have plenty of public companies fallen victim to the economic impact, so have shares of these companies. It wasn’t and hasn’t been uncommon to see stocks over $5 drop to levels that are well-within penny stock range.

On the other hand, due to innovation in coronavirus treatment, some penny stocks have exploded in 2019. One of our biggest breakouts of the year was from a “little company” known as Novavax (NVAX Stock Report). When we first dug into this company last year, Novavax was working on different biotherapies. With the advent of COVID-19 and new opportunities there, the company zeroed in on that and hasn’t looked back since. In fact, we’ve witnessed this penny stock run from under $5 to over $80 this month.

By all accounts, there’s nothing you can say that would negate the fact that penny stocks have seen serious gains this year. While NVAX is an extreme outlier, there’ve been plenty of other penny stocks that have broken out to the tune of thousands of percentage points too. What’s the point? My point is that just because penny stocks trade for under $5 a share, it doesn’t mean they aren’t worth your time to take a look at.

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It doesn’t mean you should buy all penny stocks that spike, but the term itself shouldn’t be a reason to avoid this high risk/high reward grouping of stocks. With this in mind, here’s a list of penny stock that can be purchased for under $2.25 right now. Will they be the best penny stocks to buy heading into Q3?

Penny Stocks To Buy Under $2.25: Titan Pharmaceuticals

penny stocks under 2 50 Titan Pharmaceuticals (TTNP stock chart)

Titan Pharmaceuticals (TTNP Stock Report) has been one of the more volatile penny stocks to watch this quarter. At the end of March, TTNP stock was trading around $0.22. Since then, it has climbed as high as $0.4688. After its most recent pullback during the middle of the month, it looks like the focus is back on Titan following an update.

On Wednesday, the company announced that it entered into a co-promotion partnership with Indegene Inc. The goal is to establish multichannel digital marketing programs throughout the US and expand the capabilities for the engagement of health care providers eligible to prescribe Titan’s Probuphine® (buprenorphine) implant.

Since Indegene is a healthcare solutions company, it may be positioned to help with the marketing and onboarding, among other things. Considering the attention that fighting the opioid crisis has received, this could come as an opportune time for Titan to begin rolling out this strategy.

Gaurav Kapoor, Executive Vice President of Indegene Inc. said, “This partnership comes at a meaningful time, when the COVID-19 pandemic is exacerbating the opioid crisis while limiting direct engagement with the HCPs that treat OUD patients. We at Indegene are making significant investments to be at the forefront of this transition and are excited to see Titan embrace this innovative approach.”

Penny Stocks To Buy Under $2.25: SiNtx Technologies

penny stocks under 2 50 SiNtx Technologies (SINT stock chart)

This weekend we discussed SiNtx Technologies (SINT Stock Report). On Saturday, SINTX announced that in a controlled laboratory study, the SARS-CoV-2 virus was inactivated when exposed to SINTX’s sintered silicon nitride powder. SINTX said it expects to share additional data “soon,” once the findings are published in a rapid-review forum.

On June 24th the company announced the publication of study results from its silicon nitride. Specifically, the company reported positive testing results that showed anti-viral properties that could reduce the spread of COVID-19.

“The study results demonstrated that SINTX’s unique grade of silicon nitride inactivates the SARS-CoV-2 virus within a minute after exposure, and has the potential to decrease the risk of viral disease spread on surfaces.”

What’s more, is that SiNtx explained more tests are underway. At several U.S. research centers, the company is analyzing additional data to understand the antiviral properties of its silicon nitride. “This antiviral discovery opens many new opportunities for SINTX. In composites, coatings, and mixtures, silicon nitride has maintained its antibacterial and osteogenic properties, even at small fractions,” said Dr. Sonny Bal, President, and CEO of SiNtx. Following the update, SINT stock became one of the high volume penny stocks to watch on Wednesday.

[Read More] Can You Make Money With Penny Stocks? 3 Up Big In June

Will this momentum continue through the remainder of the second quarter? One of the telling signs is how the market reacts after the initial jump SINT stock has seen. While profit taking would likely become a factor, considering the positive results, will it be enough to sustain the optimism SINT saw early on?

Penny Stocks To Buy Under $2.25: Bionano Genomics Inc.

penny stocks under 2 50 Bionano Inc (BNGO stock chart)

Similar to Titan, Bionano Genomics Inc. (BNGO Stock Report) has been a bit more volatile on a daily level. Not nearly as much as TTNP but BNGO stock has seen days of big swings up and big swings down. We’ve seen BNGO stock rise from around $0.40 at that time to highs of $0.6484 this week. During the course of those weeks, Bionano has announced new progress on its COVID-19 treatment. The company initially announced the launch of the largest study to date, in March. We discussed Bionano earlier this month after it won a patent that would cover nanonozzle device arrays, something the company could use to detect DNA sequence information.

But after reporting a lackluster Q1 earnings, there wasn’t much to discuss about the company. Bionano also announced its annual meeting date. This included a proposed reverse split of BNGO stock at a rate of 1:10 to 1:20. That appeared to bring up a bit of concern in the market. Shares slid to lows of $0.44 this week. So where is BNGO stock right now? On Wednesday, trading action has picked up for BNGO stock with price jumping back to nearly $0.50.

The company has a registration statement in place allowing it to sell around 872k shares at $0.50 according to the filing. Other than that, there hasn’t been much more released by Bionano. Given the attention that coronavirus penny stocks are getting right now, could that be the cause for this latest excitement? Also, does this go into your list of penny stocks to buy or avoid right now? Comment below.

Penny Stocks To Buy Under $2.25: NovaBay Pharma & Edison Nation

penny stocks under 2 50 Edison Technologies (EDNT stock chart)
EDNT 1 month Chart

COVID-19 is doing its part to act as a catalyst for the market. Certain penny stocks are quickly benefiting. I put NovaBay (NBY Stock Report) and Edison Nation (EDNT Stock Report) together because they are both likely seeing momentum for similar reasons. States, counties, and cities are all enacting “mask laws”. Yes, these are laws that require people to wear masks, not just as a choice.

[Read More] Mask Off? Not For These PPE Penny Stocks To Watch

Personal protective equipment or PPE stocks have started spiking this month. Due, in part to these new requirements, it’s likely something that could benefit in the short term. Edison Nation, for instance, recently said that it has established a sustainable infrastructure to provide a steady supply of masks, gloves, face shields, desk guards, sanitizer solution and proprietary sanitizer stands. Masks, specifically include 3-ply, surgical masks, and custom fabric masks.

penny stocks under 2 50 NovaBay Inc (NBY stock chart)
NBY 1 month chart

Last month, NovaBay entered into an agreement with TLF Bio Innovation Lab, LLC. It was retroactively effective as of April 1, 2020. The terms of the agreement have TLF acting as manager for a market “relaunch” of a product called CelleRx. It’s described as a lifestyle hygiene product. The company was also working on a point of care test. The test uses a drop of whole blood for the detection of COVID-19 antibodies. In light of these developments, it might not be a bad idea to have some PPE penny stocks on the watch list considering a rapid rise in coronavirus cases this month.

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