Epicenter Penny Stocks To Watch Amid Latest Data
Have you heard about epicenter penny stocks yet? Initially, the term “epicenter stocks” was coined by famed investor and FinStrat Head of Research Tom Lee. He is the same analysts that went against the grain and called for a 25% rally by April when the stock market was in free-fall back in March. Now Lee has a new focus: Epicenter Stocks.
“The market has moved with such vigor, but the economic data…has just been muddling and I think maybe today will be a call to action to get some money off the sidelines,” Lee said in an interview. “I think that’s where the dry powder is going to go. It’s going to seek cyclically sensitive stocks.”
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While you might immediately assume that these epicenter stocks would only target blue-chip companies, it doesn’t discount the facts right now. When you talk about beaten-down stocks, you cannot ignore penny stocks. For this reason, it might be time to apply this idea and seek out some epicenter penny stocks to watch in 2020.
What Are Epicenter Stocks?
As I’m sure you’ll come across this term more frequently, it’s probably good to know what epicenter stocks are. According to Tom Lee, epicenter stocks are in consumer discretionary, industrials, technology, health care and energy sectors that have been most beaten down. These could also be penny stocks, in our case that would be related to these industries and could benefit from sector momentum.
It’s a minefield out there right now. Head fakes from companies like GNC, Hertz, and even JCP have all confused new traders by signaling false momentum in light of short term gains ending in ultimate losses for many. With this in mind, let’s take a look at a few penny stocks to watch that may fall into this “epicenter stock search” right now.
Epicenter Penny Stocks To Watch: CleanSpark Inc.
CleanSpark Inc. (CLSK Stock Report) might fall in the middle of tech penny stocks and energy penny stocks right now. The company is a software and services company. But it offers software and intelligent controls for microgrid and distributed energy resource management systems. Needless to say, CLSK stock has been steadily climbing ever since the big market pull-back in March. At the time, shares slipped to a new 52-week low of $0.97.
Compared to June 26 highs of $2.74, CleanSpark stock has come quite a long way. Back in April we discussed the company just after its p2klabs engaged AlertNest to help design a mobile app to keep people informed about local updates on coronavirus. There was also an initiative to get into medical supplies during the pandemic as well. CleanSpark announced a joint venture with members of its multinational supply and distribution channel partners to secure medical supplies.
However, most recently, the company has refocused on its main business model. Earlier this week, CleanSpark announced successful commissioning and deployment of its mPulse software on a comprehensive off-grid installation system. The system is located in California City, California. Good Energy Solar engaged CleanSpark to deploy its team and produce a project feasibility analysis using the company’s microgrid Value Stream Optimizer platform. Furthermore, several FORM 4s were filed this week showing insider buying going on in CLSK stock as well.
Epicenter Penny Stocks To Watch: iBio Inc.
Again, this is a list of epicenter stocks that could see related sector momentum. In the case of iBio Inc. (IBIO Stock Report) the company focuses on plant-based biologics manufacturing. Most recently the company is working toward a COVID-19 vaccine. Something else that has brought much more attention to the epicenter penny stock is getting added to the Russell 200 and Russell 3000 Indexes.
This was something we discussed on June 25 just as the market closed. Coincidently, IBIO stock was already on the move following big news involving IBM this week. The company was selected by IBM Watson Health to receive 18 months of use of the IBM Clinical Development solution for free. IBM Watson Health has received interest in the offering from numerous hospitals, sponsors, contract research organizations and academic institutions, and is currently enabling 15 COVID-19 disease trials.
Developments like this have attracted more interest from the analyst community. On Friday, Alliance Global Partners started the stock with a “Buy” rating. It also set a price target of $2.75 for the penny stock. With record coronavirus cases getting set, vaccine stocks in the health care market could be a focus for investors. Will IBIO be one of the penny stocks to watch this coming July?
Epicenter Penny Stocks To Watch: NovaBay Pharmaceuticals
NovaBay Pharmaceuticals (NBY Stock Report) has held its own on a list of coronavirus penny stocks to watch. Now that investors may be looking more intently toward the health care industry, will it also attract more momentum in July? The recent excitement surrounding NBY stock is simple really. Novabay sells the popular KN95 face mask on its site so it makes sense why NBY stock has caught some momentum in light of these new mandates.
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. 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 city and state governments making face masks a mandatory item, is there still more room for NBY stock to run?
Epicenter Penny Stocks To Watch: Foresight Autonomous Holdings, Ltd.
Foresight Autonomous Holdings Ltd. (FRSX Stock Report) is another one of the epicenter stocks to watch. The company is working to take a role in the economy’s reopening. The company’s systems are based on 3D technology, algorithms, and artificial intelligence.
Foresight recently appointed a new VP of Strategic Partnerships In North America and Europe. Alain Charlois will be responsible for developing new business opportunities and identifying potential strategic partners in the Advanced Driver Assistance Systems and autonomous driving markets in North America and Europe.
However, what may be a more applicable item to note is what the company reported earlier this month. Foresight submitted a patent application to the U.S. Patent and Trademark Office for a system and method for the detection of people infected with the COVID-19 virus.
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Based on its knowledge using FLIR thermal cameras, AI, and advanced algorithms, the system is designed to rapidly and accurately detect some of the main symptoms associated with the COVID-19 virus. The company said these symptoms can be identified by using its intellectual property that combines both visible-light and thermal cameras. As shares have continued rising this month, will FRSX stock be another one of the penny stocks to watch in July?