penny stocks to watch before july

Will July Bring New Highs For These Penny Stocks?

The countdown has begun for a few penny stocks. In just 3 more sessions, we will be on the eve of a new month and quarter. While summer months are typically quiet for the stock market, this year’s a bit different. We really didn’t have a “Spring” with all of the commotion surrounding COVID-19.

March was a complete wash after the market as a whole gave back almost 3 years of gains. However, the stay-at-home orders may have been a blessing in disguise. Since millions of people were either at home, out of work, or furloughed, this gave many time to reflect. More importantly, it put them in a mindset to learn new ways of making money.

Since you don’t necessarily need a boss to day trade, the obvious choice: learn how to trade penny stocks and other equities. This has resulted in millions of new day traders flooding the market with liquidity that otherwise wouldn’t have been there this time of year. In fact, during the first quarter, Robinhood, for instance, saw some 3 million new accounts opened.

Thanks to these gunslinging noobs, penny stocks like Hertz, Luckin Coffee, and others soared while Wall Street big wigs scoffed at even the thought of buying bankrupt or fraudulent companies’ shares. At the end of the day, those Robinhood traders had a shot at scoring quick gains before those penny stocks dropped back down.

While fundamentals might not mean as much as market momentum, you can’t forget the types of companies you’re buying shares of. A day trade is one thing but investing is another. Decide what your goal is and remember to take profit along the way. On the verge of a new quarter, will these names find their way on your list of penny stocks?

Penny Stocks To Watch: Ideanomics Inc.

We’ve been covering the progress of this company for weeks. Over the weekend, we discussed IDEX stock and what’s transpired over that time. A lot of the latest momentum has originated from Ideanomics (IDEX Stock Report) auto dealers operating in its subsidiary, Mobile Energy Global. The company has continued to report new sales and delivery. Since the beginning of the month, shares of IDEX stock have climbed as high as $3.98. Considering it was just $0.40 when we first covered it this month, IDEX stock has been one of the best penny stocks to watch in June so far.

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Just like many of the penny stocks that have gone onto breakout nearly 1,000%, IDEX dropped. On Thursday, the penny stocks began mounting a recovery following premarket news. The company’s Mobile Energy Global reported that it entered into a deal with a company called Zhongsen Tower.

For those not familiar, Zhongsen Tower is the leading 5G and IoT infrastructure service provider, offering a broad array of services including the build-out of 5G tower infrastructure. So if you’re looking for “5G penny stocks,” this may be something that pops up along your search.

New Direction For IDEX Stock?

Under the terms of the deal, Mobile Energy will own 30% of the venture making it the largest co-shareholder. The Deal represents the official launch of its Energy Services Unit. According to the company, this paves the path for it to grow its most potentially lucrative division. Additionally, as a significant shareholder of Zhongsen Tower, MEG will be able to capture both reoccurring rental sales revenue as well as energy sales from powering the base stations. For more articles on IDEX stock, click here.

“While the market opportunities for electric vehicle (EV) sales and financing are substantial, the charging-based energy sales or energy services market opportunity is larger and has reoccurring revenues. According to Zhongsen Tower , there is an estimated six million base stations needed for China’s 5G nationwide network deployment.”

Ideanomics Inc., PR, June 25, 2020
penny stocks to watch june Ideanomics Inc. (IDEX stock chart)

Penny Stocks To Watch: InspireMD Inc.

Shares of InspireMD Inc. (NSPR Stock Report) were trading higher on Thursday. Things have been much more active over the last 3 weeks for NSPR stock following its gap down on June 3rd. The initial drop came after something that’s become very familiar to some of our readers. InspireMD announced a discounted share offering. Why say this is familiar? Over the last few months, we’ve discussed the importance of making profitable trades and in doing so, making sure to actually take some or all profit when it’s staring you in the face. The reason behind such a crazy idea is specific to companies doing discounted financings because those filings and/or press releases aren’t something to plan for.

Obviously for NSPR, the penny stock dropped from over $0.70 to under $0.40 within a day. The main reason is that funds were raised at $0.45, which suggests that is where the investment fund and, in turn, company placed value on its stock. In any case, NSPR stock has been steadily heading higher since then.

On June 25th InspireMD announced early results from its investigator-initiated SIBERIA clinical trial will be featured as a late-breaking presentation in a EuroPCR e-Course. The trial was for its its CGuard EPS for stroke prevention. This e-Course is being held today through the weekend but InspireMD will present on the 25th.

“The SIBERIA trial is the first randomized, controlled clinical trial to directly compare CGuard™ EPS head-to-head against a widely used conventional stent, and needless to say, we are very pleased with the results,” said Marvin Slosman, Chief Executive Officer of InspireMD. Shares have climbed by more than 40% since June 3rd lows.

penny stocks to watch june InspireMD Inc. (NSPR stock chart)

Penny Stocks To Watch: Vaxart Inc.

Vaxart Inc. (VXRT Stock Report) is another one of the top penny stocks to watch in 2020. If you’re just tuning in, VXRT stock was one of the first coronavirus penny stocks we were able to identify back in late January. At the time, shares of Vaxart were trading around $0.95. This week the penny stock’s reached highs of $5 during early trading on June 25. In just 6 months, VXRT stock has climbed 426% and when you talk about swing trading, it has been the epitome of such a trading style. Along the way, there’s been some ebbs and flows but the overall trend has maintained itself.

June has been a big month for Vaxart and it started with presentations at the Jefferies Virtual Healthcare Conference. The company’s focus has been advancing its COVID-19 and other programs. This week the company signed a memorandum of understanding with Attwill Medical Solutions Steriflow, LP.

Why’s this important? This essentially confirms the parties’ intent to establish Attwill as a resource for lyophilization development and large scale manufacturing. This includes tableting and enteric coating for Vaxart’s oral COVID-19 vaccine. Attwill will be giving dedicated resources and equipment for the scale-up and commercial production of the vaccine upon entering a formal agreement. According to Vaxart’s PR, this would enable production of a billion or more COVID-19 vaccine doses per year.

“We believe AMS’ experience coupled with its ability to manufacture a billion or more doses per year would be a beneficial addition to our group of CDMO partners and enable the large scale manufacturing and ultimate supply of our COVID-19 vaccine for the US, Europe and other countries in need,” said Andrei Floroiu, CEO of Vaxart Inc. Will VXRT stock continue this multi-hundred percent rally in July? For past articles on Vaxart, click here.

penny stocks to watch june Vaxart Inc. (VXRT stock chart)

Penny Stocks To Watch: Zomedica Pharmaceuticals Inc.

While it hasn’t had the resounding bull run since the start of the year, Zomedica Pharmaceuticals (ZOM Stock Report) has been one of the penny stocks to watch this year. More or less, the volatility in the market for ZOM stock has opened more opportunities for 1-3 day breakouts than anything else from the look of the chart. We’ve discussed this company for months, most recently this week.

Zomedica appointed an interim CEO to lead the company through its new product launch. Robert Cohen, formerly of EmboMedics, Inc, now serves at the company’s helm and will help the company move closer to the completion of its point of care platform. What’s more is that ZOM has been caught in the cross-hairs of coronavirus penny stocks to watch.

An update came out from the USDA in an article titled, “Confirmation of COVID-19 in Pet Dog in New York”. It specifically stated, “It appears that people with COVID-19 can spread the virus to animals during close contact.” In light of this, it made sense that attention began building around the company’s TRUFORMA™ diagnostic device.

[Read More] Can These Top Penny Stocks Make New Highs Before July?

No further updates have come out from Zomedica. However, with the increase in COVID cases recently, the market is looking for related stocks. As the story develops it could be one of the penny stocks to watch before July.

penny stocks to watch june Zomedica Pharmaceuticals (ZOM stock chart)

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