Are These Coronavirus Penny Stocks On Your List In July?
It may be crazy to think but coronavirus penny stocks have been “a thing” for a while now. Ever since the late half of January, COVID-19 has captivated headlines. Investor interest followed shortly after. So what do things look like right now? Well, we’re still “close” to a vaccine despite that being the argument for months month.
Despite the sarcasm, there have been countless new developments because of coronavirus initiatives by the government. On top of that, companies outside of health care have also had their business models tested. Some flourished because of it while others evolved completely.
“When hospitals and health care assistants talk about surge capacity, they’re often talking about a single event. But what we’re having now is the equivalent of a bus accident a day, every day, and it just keeps adding.”
John Sinnott, chairman of internal medicine at the University of South Florida and chief epidemiologist at Tampa General Hospital
This idea of coronavirus stocks might not go away anytime soon either. States that were among the earliest to reopen have driven the surge in cases in the U.S. The number of Americans dying from the virus has started rising again. At least six states set single-day case records on Thursday.
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This included Alabama, Idaho, Missouri, Montana, Oregon, and Texas. Furthermore, at least two states recorded their highest death totals for a single day. This included Florida and Tennessee. Given the fact that some states are re-initiating lockdowns, could we see a second wave of COVID-stocks to breakout?
Coronavirus Penny Stocks To Watch: Revive Therapeutics
Revive Therapeutics (RVVTF Stock Report) (RVV) has been one of the coronavirus penny stocks to watch this year. Back in March, shares were trading around $0.06 and managed to jump as high as $0.50. However, at the start of July and after reaching its 52-week high, shares saw a quick consolidation back to levels as low as $0.12. Needless to say, over the last few days, Revive stock has been on the rise again. The last update may have shown the market the next target focus for the company.
On June 30, Revive announced it submitted its Investigational New Drug application to the U.S. FDA for a Phase 3 confirmatory study for Bucillamine. The trial is to see Bucillamine as a potential treatment in COVID-19. Once the U.S. FDA allows the IND to go into effect, Revive said it will initiate a randomized, double-blind, placebo-controlled study of Bucillamine in patients with mild-moderate COVID-19 in Q3-2020. Revive said it will enroll up to 800 patients that will be randomized 1:1:1 to receive Bucillamine 100 mg three times a day (“TID”), Bucillamine 200 mg TID or placebo TID for up to 14 days.
Aside from its coronavirus platform, Revive has also gained attention for one of its other pipelines in psychedelics. With its acquisition of Psilocin Pharma Corp., Revive Therapeutics is expanding on the development of Psilocybin-based therapeutics in various diseases and disorders. The company entered into a sponsored research partnership agreement with the University of Wisconsin-Madison to evaluate novel formulations and drug delivery technology focused on psilocybin-based pharmaceuticals. RVVTF stock has bounced back by more than 50% in the last 3 sessions, alone.
Penny Stocks To Watch: AgEagle Aerial Systems
Like I said above, coronavirus has done more than just help the health care community. It has also seen a bit more open-mindedness by the general public. How can we get groceries if things are locked down? The answer is delivery. The same goes for food and possibly even packages. I know you can get UPS or FedEx services to deliver goods but one company is focusing on a more “touchless” method.
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AgEagle Aerial Systems (UAVS Stock Report) has been one of the penny stocks on our list for quite some time now. Ever since the big move in April, UAVS Stock has been more active. 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.
Thursday, the company came out with an update that has continued to stir the market’s speculation. The company, along with the Kansas Department of Commerce in association with the Greater Wichita Partnership, today jointly announced that AgEagle will locate and expand its manufacturing operations in Wichita, Kansas. What’s more is that this played on speculation from another instance of an article discussing a potential AgEagle/Amazon scenario.
Author Carrie Rengers of Wichita Eagle said, “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.”
Penny Stocks To Watch: Cheetah Mobile
Before you start questioning the basis for the article, read more than just the name of Cheetah Mobile (CMCM Stock Report). At first glance, you can see that the company is a mobile internet company with global market coverage. However, Cheetah Mobile also focuses on artificial intelligence too. In an update late last month, the company announced in collaboration with OrionStar.
OrionStar is an intelligent service robot company that Cheetah has invested in. Key success metrics from the large scale deployment of its multifunctional robots, Smart Epidemic Prevention and Control Robots, was reported in over 30 hospitals, transportation centers, and shopping malls. The location? It was in the city of Wuhan, Hubei province in China, the epicenter of the pandemic, as well as to Beijing, Shanghai, Nanjing, Zhengzhou, Qingdao, to help fight the COVID-19 outbreak.
“Our smart service robots are typically seen in other scenarios, such as public service centers, schools, and hotels amongst others—servicing nearly 30 million people in total and processing as many as 1 million speech-based reception interactions per day. We are so glad we could quickly deploy them for hospital use to help combat COVID-19,” said Fu Sheng, CEO of Cheetah Mobile.
Penny Stocks To Watch: Biolase Inc.
Similar to Cheetah, keep reading and you’ll see how Biolase Inc. (BIOL Stock Report) falls into the coronavirus penny stocks category. Yes, the company focuses on dental products. Specifically, manufacturing dental lasers. If you haven’t followed our previous updates on BIOL, you might still be confused as to why this is on a list of COVID stocks right now.
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Back in June, Biolase tweeted that it will conduct a presentation via webinar. “This program will cover the latest applications of technology in the Dental Clinic. We’ll dive into #Periodontal, #Restorative and #DentalHygiene specific applications of #dentallasers, and HOW to increase productivity and promote practice growth post-#COVID19.”
This month the company announced more COVID-related news. Biolase reported that its Epic Hygiene dental laser met recent guidance from the CDC. The Center recommended not using ultrasonic scalers to prevent the transmission of COVID-19. Next week, Biolase will participate in a panel discussion on “Re-Engaging Medical Practices in an Era of COVID-19” July 16th.
Given the surge of new cases and the goal of reopening, something so routine like dental visits needs to have their own set of rules. Obviously, curbing the transmission of coronavirus is key. Will this latest development spark continued interest in BIOL this month?
