Are These On Your List Of Penny Stocks Right Now?
Putting together a good list of penny stocks doesn’t take a whole lot of time. The research certainly can though. Depending on your goals, time frame, and risk tolerance, you can design plenty of lists to fit your strategy. One place to start is with trading volume. This, essentially is the lifeblood of any penny stock. It also gives traders an idea of the type of size they can take that will allow them to easily enter and exit a trade.
It makes sense, then that traders will look for penny stocks with consistent average volumes. Additionally, traders may then identify certain penny stocks experiencing unusually high levels of trading volume to add to their list. Higher volume can indicate that some event happened or could be coming up, for example. Now, there are plenty of other ways to find penny stocks to add to your list. Maybe you want to find companies in a certain sector. Right now technology is popular so maybe you want just a list of penny stocks dealing in tech.
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COVID-19 has put a spotlight on healthcare so maybe biotech penny stocks are where you’re focused. Whatever the case may be, whether it’s specific to a sector or specific to an indicator like volume, lists are a great place to begin your DD process. What does dd mean in penny stocks?
Simply put, ‘dd’ is short for Due Diligence. It’s another name for research. If you’re an experienced trader you already know that starting with a list of penny stocks and then boiling it down to a few target names is a good way to zero in on trade opportunities. With that in mind, let’s take a look at a few names that have made their way onto a few lists this week. Will they be on yours?
Penny Stocks To Watch: AXIM Biotechnologies
Shares of AXIM Biotechnologies Inc. (AXIM Stock Report) surged earlier this month but then came swiftly back down earlier this week. Heading into the end of the week, however, we’ve noticed a move in the other direction. AXIM stock jumped from $0.73 to an early high of $0.98 on July 23rd. This came after the company announced the completion of a study highlighting the performance of NeuCovix™. That’s AXIM’s rapid test to measure levels of neutralizing anti-COVID-19 antibodies.
The NeuCovix™ test was compared to a gold standard pseudovirus-based test. The company said NeuCovix™ accurately classified serum from patients who strongly neutralized SARS-CoV-2 and serum from patients who poorly neutralized the virus. Additionally, NeuCovix™ did not cross-react with serum from patients with seasonal respiratory infections including seasonal coronaviruses, suggesting that the test has 100 percent specificity for COVID-19.
Earlier this month AXIM stock began breaking out in the first place after announcing the unveiling of the test. It also filed a Pre-Emergency Use Authorization with the FDA. Prior to this, the company was actually working on a biotechnology pipeline focused on cancer treatments. However, opportunities continue to present themselves right now as COVID-19 rages on. As we’ve seen, countless immunotherapy companies have shifted focus and applied expertise to this segment of healthcare and biotechnology. Can this latest jump continue for AXIM this month?
Penny Stocks To Watch: Sesen Bio Inc.
Sesen Bio Inc. (SESN Stock Report) has experienced a strong move over the last few months. Ever since hitting lows of $0.37 in March, SESN stock pushed higher. In fact, the penny stock managed to bounce back by as much as 183% after highs of $1.05 on Thursday. By far, the volume on July 23rd was the highest the penny stock’s seen in over a year. With more than 8 million shares traded, the momentum didn’t go unnoticed.
On Thursday, SESN stock jumped from an open of $0.84 to highs of $1.05. It’s also the first time in about 8 months that SESN has tested levels above its 200 Day Moving Average (red line on the chart). Prior to today, this was a consistent level of resistance for the penny stock. So what’s gone on to trigger the biggest trading volume day in over a year?
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That’s a great question. There’s no news and the last filing was from the first week of July. This was when Sesen received a product-specific pediatric waiver from the European Medicines Agency for its Vicineum™. This is the company’s lead product candidate, which is currently in the follow-up stage of a Phase 3 registration trial. Specifically the trial is for the treatment of high-risk, BCG-unresponsive non-muscle invasive bladder cancer.
Penny Stocks To Watch: SINTX Technologies
SINTX Technologies (SINT Stock Report) is no stranger to a list of penny stocks to watch. SINT stock has steadily climbed ever since late March. But most recently, the end of June and start of July took this penny stock to a whole new level. A lot of the earlier momentum this month stemmed from a late-June announcement related to coronavirus. SINTX announced positive testing results demonstrating the anti-viral properties of its silicon nitride which may be useful in the reduction of the spread of COVID-19.
The company said that its study results demonstrated that its silicon nitride inactivates the SARS-CoV-2 virus within a minute after exposure. This week the company announced the close of a previously announced $3 million offering. Furthermore, on July 23rd, the company tweeted something that sparked more bullish sentiment in the market.
The company completed its AS9100D Stage II audit. On top of that, the tweet goes on to say the company expects to be awarded certification in October. Thanks to more attention on coronavirus and prevention, related penny stocks have seen growing interest. SINT is the latest to follow suit.
Penny Stocks To Watch: XPresSpa Group
XpresSpa Group Inc. (XSPA Stock Report) is another one of the penny stocks we’ve watched for quite some time. It’s been somewhat of a love/hate relationship with traders. But that’s only because the stock spiked up big in June and the came sliding back swiftly during the weeks to follow. FOMO traded was a big culprit to creating the bagholders of XSPA stock in June. But if you look at it from a bigger picture, XSPA stock has actually enjoyed a general uptrend for the last 4 months. Furthermore, since the start of the year, XSPA stock is up about 80% to date. This doesn’t negate the fact that June was one of the most volatile months for the stock.
When we first started following this company closely, XpresSpa was having “high-level talks” to get in on the coronavirus craze. Best known for its in-airport micro-spas, XpresSpa aimed to diversify into a COVID-19 testing facility. But as things got more serious, the market eventually starting paying more attention.
Fast-forward a few months and XSPA stock rallied to highs of $8.82 (from March 25th levels of $1.20) and the company gained a presence in one of the most active terminals in New York. Its XpresCheck has begun a pilot program at New York’s John F. Kennedy International Airport Terminal 4. There’s also been job posting sighted on PayComOnline which showed XpresTest was looking to hire specialists at Newark Airport.
Over the weekend we had this on our weekly watch list. That came as the company filed July 17th S-3 & S-8 Filings registering shares to raise money and to offer an employee incentive plan. Just 6 days later, XpresSpa’s CEO was interviewed on Fox Business discussing the rollout of numerous COVID testing facilities ahead of fall. He also said that tests will be available for passengers in the coming weeks. Currently they are available for frontline workers.