4 Penny Stocks To Watch Before The 4th Of July Holiday Weekend
We’re heading into a unique week for all penny stocks, blue-chips, etc. Not only is it going to be the end of the month and second quarter, it’s also a short week that kicks off July and Q3. Given this as the case, we’ve got limited days to trade with Friday being observance of the Fourth Of July holiday.
Over the weekend more news was released on mounting coronavirus cases. States including Arizona, Texas, Georgia, and Florida all saw cities with new record numbers. There’ve been mandatory face mask rules put in place in some cities while others are shutting down certain businesses again. Then there’s the complete opposite end of the spectrum in places like New Jersey & New York City. Once the epicenter of the virus, the cities are slowly reopening.
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Heading into the new week, it makes sense that coronavirus penny stocks could be in the spotlight. But also figure that with reopenings, we could see interest build in consumer stocks as well. While we’re far from “out of the woods” with COVID, one thing remains certain. Volatility is likely going to play its part yet again this week. Keeping this in mind, here are a few penny stocks to watch before the Fourth Of July.
Penny Stocks To Watch: Tonix Pharmaceuticals
Tonix Pharmaceuticals (TNXP Stock Report) was one of the biotech penny stocks discussed late last week. This was just a few days after the company announced results from its preclinical study of Tonix’s TNX-1700 for cancer. Results demonstrated that the treatment was able to enhance anti-tumor activity. Despite the positive news, shares slid a bit following the update. However, on Friday, TNXP stock saw a high volume day and a green close.
What’s more? This week the company kicked things off with news of patient enrollment for a Phase 3 RELIEF Trial of TNX-102 SL is ahead of schedule. The company’s TNX-102 SL is designed for managing fibromyalgia. Tonix said that it’s expecting topline results in the fourth quarter of this year as a result. Furthermore, the company also expects interim results of the first half of the participants to be sometime in September.
Seth Lederman, M.D., Chief Executive Officer of Tonix said, “Fibromyalgia affects millions of adults globally and we believe that TNX-102 SL has the potential to offer a new, non-addictive treatment option for patients seeking relief from this disorder.”
Given the recent momentum in the market for TNXP stock, it will be interesting to see what this week brings. One of the topics discussed last week was more on the technical side of the coin for TNXP. Specifically, the 50-Day Moving Average has acted as somewhat of a ceiling for TNXP so far this year. Considering that the 50 Day Moving Average sits around $0.70, will July mark the time TNXP stock finally breaks above resistance or will this be a longer-term sideways trend?
Penny Stocks To Watch: CleanSpark Inc.
Last week we discussed a “new class” of penny stocks called “epicenter stocks”. CleanSpark Inc. (CLSK Stock Report) was one on the list. The company is a software and services company. It offers software and intelligent controls for microgrid and distributed energy resource management systems. With epicenter stocks being ones in certain industries, including energy and tech, CLSK stock seems to meet the criteria. Nonetheless, share prices have been on the rise ever since reaching 52-week lows of $0.22 in March.
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As of premarket trading on June 29th, CLSK stock price has reached highs of $3.42. This continues the move from Friday that came a few days after CleanSpark announced its latest development. The company commissioned and deployed its mPulse software on an off-grid installation system in California.
In response, Zach Bradford, CEO and President of CleanSpark, stated, “As our mPulse software deployments increase, we expect to see revenues and margins improve. Deployments like these also create additional opportunities for CleanSpark to continue to add long-term SaaS revenues.”
Additionally, several FORM 4s were filed last week showing insider buying going on in CLSK stock. Given all of these factors, is CLSK stock on your buy or sell list this week? Give us a comment below.
Penny Stocks To Watch: Blink Charging
Another one of the sectors we talked about over the weekend was electric vehicles (EV). A surge of interest (no pun intended) has come into the niche as companies like Nikola, Tesla, and Nio have reached key milestones. In light of this, it’s important to look at the full picture. It’s not just the automakers that could benefit, look at the “supporting cast”. We referenced this as “the picks and shovels” of the industry. In light of this, Blink Charging (BLNK Stock Report) hit the list of EV penny stocks to watch.
Not only has Blink focused on expanding its charging footprint, but other industry news could also shed some light on its products/services. Apple, for example, announced last week that its new Apple Maps on the iOS14 will include EV charge routing. According to Blink, that will include its charging stations.
Michael D. Farkas, Founder and Chief Executive Officer of Blink, commented, “We are excited about Apple Maps routing its EV Driver users to Blink charging stations and providing its over 20 million monthly visitors with information about Blink charging stations across the US, including charging speeds, type, and availability.”
Penny Stocks To Watch: Achieve Life Science Inc.
While these previously mentioned penny stocks have seen consistent momentum, Achieve Life Sciences Inc. (ACHV Stock Report) appears to just be starting to trend on Monday. Whether or not that will last, depends on what happens the rest of this week. The latest move comes as the company announced a key development in its Cytisinicline development platform.
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Specifically, the company has worked toward the commercialization of cytisinicline for smoking cessation and nicotine addiction. Today Achieve announced the successful topline results from the New Zealand RAUORA Phase 3 non-inferiority clinical trial comparing cytisinicline to varenicline (Chantix®) in Māori (indigenous New Zealanders) and whānau (family) of Māori.
“The positive topline results of the RAUORA Phase 3 trial, which is the first, direct head-to-head comparative study between cytisinicline and varenicline, provide additional evidence that cytisinicline is at least as effective as varenicline while offering improved tolerability,” said Rick Stewart, Chairman and Chief Executive Officer of Achieve. In tandem with this news, the company also announced the pricing of a $16 million offering.
Now, here’s where things could get interesting. Typically a discounted share offering tends to negatively impact penny stocks. However, for ACHV stock, the $6 million offering is being done at a price per share of $0.41 and expected to close on July 1st. Considering that the closing price on Friday was $0.4128, this doesn’t seem like a massive discount to the market. How will traders respond?