3 Penny Stocks To Watch Before The Weekend
There are never dull moments with penny stocks. Most of the time, these stocks under $5 have a proper mix of speculative momentum and fundamental catalysts that can see huge moves. Sometimes these moves are long-lasting while other times they’re short and fleeting.
Here’s the thing: as much as I know we’d all love to make 1 trade and call it a year, the chances are slim. You’re more likely to consistently make 20-50% per trade than you are to make 20,000% per trade. Can it happen? Yes and it has for a few select penny stocks over the last few years.
A good rule of thumb though is simple: when you’re at your profit target, it never hurts to actually make profits. Now, you don’t have to exit your position fully. However, leaving money on the table is better for your bank account than holding too long and selling for a loss.
At the end of the day, the stock market is for making money, not collecting pieces of worthless paper in the form of shares. It sounds simple, right? But I’m sure if you’re shaking your head “yes” then you’ve likely gotten caught by your own emotions. The psychology of trading plays a big role in your overall approach to the market.
[Read More] Looking For Top Penny Stocks To Buy Now? 4 Turning Heads This Week
I mention this because it looks like penny stocks are already off and running on Tuesday. In fact, some low float penny stocks we’ve discussed in the past are seeing big action right now. So if you’ve got these on your list, keep in mind that it’s about profit, not trying to sell right at the top.
Penny Stocks To Watch: Annovis Bio Inc.
Annovis Bio Inc. (ANVS Stock Report) is one of the low float penny stocks on the list this week. Overall, ANVS stock isn’t one of the high-volume stocks. So, don’t be confused if you’ve never seen this company before. Just to give you an idea, the penny stock saw less than 60,000 share trade on Monday. Needless to say, Tuesday has been much different during premarket trading. In fact, since the start of the week to its pre-market high, ANVS stock has climbed more than 125%.
At the top of the week, Annovis opened at $4.01 and since then, exploded to highs of over $9 before the bell on Tuesday. This is a very volatile move. Considering that there’s less than 10 million shares outstanding it makes more sense as the float could be even lower. If you’re new or haven’t heard of low float penny stocks before, here’s a quick breakdown.
The “Float” refers to the amount of shares available to trade in the open, retail market. The lower the float, the more volatile the market and the quicker the breakouts can come. It’s also worth noting that these breakouts can be big. We saw it many times this year already where low float penny stocks jump over 1,000% at times. But it’s a very high risk scenario. The moves can come in a matter of minutes.
Is ANVS stock worth watching? Aside from the share structure, Annovis made an announcement on Tuesay that seems to have been a catalyst. The company reported that it has received Central Institutional Review Board approval to begin its Phase 2 clinical study in early Parkinson’s and early Alzheimer’s patients at 15 sites across the US. Maria Maccecchini, Ph.D., CEO of Annovis Bio said, “While the original initiation of the trial was delayed due to COVID-19, we believe we remain on track to complete the study by the first quarter of 2021.”
Penny Stocks To Watch: AgEagle Aerial Systems
Ever since the big move in April, AgEagle Aerial Systems (UAVS Stock Report) has held a spot on plenty of list of penny stocks this year. At the time AgEagle expanded the scope for its contracted commercial drone work. Last month UAVS stock saw another pop in the market after we found some interesting information on the USPTO website. Traders were circulating information related to a recently filed patent on the USPTO site. It would appear that the patent has to do with drone delivery services.
[Read More] What Are The Best Penny Stocks To Trade? 3 Moving In July 2020
July 7 saw a few big developments that have triggered more interest on the stock. First, an article came out in the Wichita Eagle, “It looks like Amazon has much bigger plans for the Wichita area than one warehouse.” The article discussed Amazon bringing a 140,000-square-foot warehouse to Wichita.
The article continued, “but the company apparently has some much bigger news to come in Park City, which may include Neodesha’s AgEagle Aerial Systems.” Author Carrie Rengers continued, “Part of what is fueling speculation related to Amazon and AgEagle is that around the time of AgEagle’s ‘major eCommerce company’ announcement, there was reportedly a video online showing Chilcott demonstrating how to unload an Amazon drone from its crate.”
AgEagle Also came out with a corporate update discussing its current initiatives. Among the entirety of the update, CEO, J. Michael Drozd said, “We are committing to a highly focused growth strategy centered on three primary industry sectors: U.S.-based drone hardware and subcomponent design, manufacturing, assembling and testing, Drone package delivery services, and Hemp cultivation registration, oversight, compliance, reporting and data analytics software solutions for government and commercial customers.”
Penny Stocks To Watch: Aeterna Zentaris Inc.
Aeterna Zentaris Inc. (AEZS Stock Report) started climbing after hours on Monday. The company focuses on commercializing & developing therapeutics & diagnostic tests. Last month the company announced entry into an exclusive distribution and related quality agreement with Megapharm Ltd. Megapharm’s an Israel-based biopharmaceutical company, for the commercialization in Israel and the Palestinian Authority of macimorelin. This is Aeterna Zentaris’ orally available ghrelin agonist to be used in the diagnosis of patients with adult growth hormone deficiency and child-onset growth hormone deficiency
Aeterna has leveraged the clinical success & safety profile of macimorelin to develop it for the diagnosis of child-onset GHD. But why are shares getting a boost recently? The company filed docs showing its multi-million dollar raise. This was done at a price of $0.45 and considering the market price on Monday, this was actually a premium to that. AEZS stock closed at $0.415 on July 6.
The Company intends to use the net proceeds from this offering for corporate purposes. Specifically, it outlined the funding of a pediatric clinical trial in the E.U. and U.S. for Macrilen™ (macimorelin). It also plans to use funds for the investigation of further therapeutic uses of macimorelin and the expansion of pipeline development activities. Despite having fallen over the last month or so, will this finally be the turning point for Aeterna Zentaris or will the latest surge of momentum be short-lived?
