Are These Penny Stocks On Your List This Month?
July has gotten off to a running start for penny stocks and blue-chips alike. Some of the big things in focus right now are coronavirus cases, precious metals prices, and energy. However, beyond that, we’re also seeing attention on things like tech penny stocks and 5G.
If there’s one thing 2020 will go down in history for, it’s the series of “firsts”. This was the first time we saw record drops and record gains in the stock market. It’s also the first time many have ever been placed into a country-wide quarantine.
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Furthermore, 2020 has also seen dramatic levels of innovation in healthcare and technology. What’s more, is that we haven’t even gotten into the second half of the year yet, fully. We’re only 6 days in the “H2” and so much has already happened.
What’s in store for the next six months? That’s yet to be seen. However, we can take some cues from the recent interest in the trends I’ve mentioned. Then use those to find the best penny stocks to trade. Are any of these names on your list right now?
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Penny Stocks To Buy [or avoid]: Globalstar Inc.
Globalstar Inc. (GSAT Stock Report) was one of the penny stocks we discussed briefly in mid-June. Being a telecommunications company that generates revenue from the provision of mobile satellite services, it may have been caught in the 5G cross-fire. A push for less foreign communications providers has also triggered some interest in companies like Globalstar.
The company recently announced the deployment of a new ground station with second-generation technology in Córdoba, Argentina . Globalstar said new infrastructure enables voice calls, two-way data communication and internet connection, extending Globalstar’s service throughout South America
“By expanding our coverage, Globalstar has consolidated its presence in Latin and South America, allowing us to continue to offer efficient and reliable satellite solutions to our clients,” commented Juan Porras, General Manager of Globalstar Latin America. What may be more interesting is that fact that there was a slew of insider buys in the middle of June. Considering the fact that there hasn’t been much more news recently, could this be simple market momentum?
It may also be worth noting the company’s other relationships via subsidiaries. SPOT LLC, a wholly-owned subsidiary of Globalstar, Inc. came out with news in May. SPOT announced the launch of an exclusive SPOT X™ Jeep® Edition 2-way satellite messenger. That product launch comes after SPOT recently entered a licensing deal with the Jeep brand. Given this trend in communications companies, is GSAT on your list of penny stocks to buy or avoid right now?
Penny Stocks To Buy [or avoid]: Nokia
Nokia (NOK Stock Report) is another one of the communications penny stocks that we’ve watched for quite some time now. Over the weekend we talked about it again. This was after a surge of interest in 5G penny stocks hit the airwaves recently. This coming Thursday (July 9th) could be a date to mark down if this is on your list right now.
The company will host a virtual event: “The Switch is on,” from 9 a.m. – 10 a.m. Pacific Time. Nokia President of IP and Optical Networks, Basil Alwan, plans on sharing company news about a “new era of data center networking” that it’s branding #TheSwitchIsOn.
In addition, Nokia announced more progress on Monday. The company said it has provided its cloud-based software to Bharti Airtel’s Voice over LTE network. That network supports over 110 million customers in India. The deal also includes the deployment of Nokia’s CloudBand infrastructure software, an open and scalable platform that Airtel plans to use for new revenue opportunities for 5G and internet-connected devices.
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Another milestone to note among Nokia’s growing list this year. Some of the other big developments came in Q2. It signed a data center infrastructure deal with Tencent and Baidu. It also ran a successful trial of the “RAN Intelligent Controller” over AT&T’s commercial 5G network. The companies are co-developing this software platform to boost interoperability and enable rapid service deployments.
Penny Stocks To Buy [or avoid]: Shiloh Industries
A new-comer to the list of penny stocks to watch is Shiloh Industries (SHLO Stock Report). At the end of June, we started to catch up on this company. In the company’s corporate overview, it discusses the use of its components in electric vehicles. Specifically, “Shiloh lightweight products enable range expansion by reducing power consumption [and are] propulsion agnostic (EV, HEV and ICE).”
But aside from this piece of info, Shiloh, on a higher-level view, has focused on renewable energy use at its actual facilities. So it made sense that as more and more attention focused on EV penny stocks, SHLO got caught in the mix. In fact, since the start of July, the SHLO stock price has climbed by more than 45% so far.
It’s also worth noting, however, that the company is focusing on its own greenhouse contributions. Shiloh has set the goal of carbon neutrality by 2035. There is some uncertainty due to COVID-19 as indicated by the company last month. But accordingly, Shiloh explained that it took necessary steps to secure liquidity in the interim. Specifically, Shiloh and certain subsidiaries have reached an agreement with bank lenders on certain amendments to the Company’s credit agreement. Needless to say, there’s sparse info out there and this latest surge could be in sympathy with other, related stocks. Is SHLO on your list of penny stocks to buy or avoid after this latest multi-day move?
Penny Stocks To Buy [or avoid]: Unum Therapeutics Inc.
When you talk about “new kids on the block,” Unum Therapeutics Inc. (UMRX Stock Report) could be on that list right now. The company’s stock doesn’t typically trade more than a few hundred thousand shares a day. But starting the first full week of July, UMRX stock has traded more than 7 million before lunch. What’s more, is that the initial move didn’t begin until mid-morning.
If you’re just coming across this company, let’s see what it does, first. According to Unum, it develops therapies for solid tumors. In its most recent press release (and first since May), the company announced an acquisition. This was for Kiq LLC, another biotech company that focuses specifically on precision kinase inhibitors. These are sometimes used in treating cancers.
In conjunction with this deal, Unum entered into a definitive agreement for the sale of Series A non-voting convertible Preferred Stock in a private placement to a group of institutional accredited investors. If you search out some of the bigger deals in biotech, you’ll likely come across some of these names. The list includes Venrock Healthcare Capital, OrbiMed, Acorn Bioventures, and Fairmount Funds to name a few.
The private placement is expected to result in gross proceeds to Unum of approximately $104.4 million. The proceeds from the private placement will be used to advance clinical testing of PLX9486 in multiple indications and provide runway beyond 2022. Worldwide rights to develop and commercialize PLX9486 were exclusively licensed by Kiq. PLX9486 has demonstrated promising clinical activity in a Phase 1/2 trial in patients with Gastrointestinal Stromal Tumors, according to the company. Obviously, after such a huge move (268% this month) in UMRX stock, this could be a risky situation. So keep this in mind if it’s on your radar this week.