1 Week Left & Plenty Of Penny Stocks To Watch
How do you find the best penny stocks to buy? Well, for starters I would say a good list is step 1. Sure, you can try and fly by the seat of your pants, searching for the next big breakout and hoping to find it. But more times than not, being prepared can give you an edge. What do I mean?
If you’ve been reading our articles, you know that we love weekends for the simple fact that it gives time to DD penny stocks. Real quick for the newbies at home, DD isn’t a stock symbol we’re talking about; it stands for “Due Diligence”. That’s the stuff you do when you research the market, stocks, or a mix of the two.
Needless to say, if you can put together a good list of penny stocks to watch, it may give you an advantage. That’s especially true if you trade based on catalysts. For instance, biotechnology companies tend to pre-announce the date of a major event.
What Should I Look For When It Comes To A Good List Of Penny Stocks?
This might be something like the submission of an investigational new drug application or something as big as a Phase 3 readout. As far as the momentum traders are concerned, they likely won’t find out about that stock until “the big day” but as we’ve seen, sometimes the ‘buy the rumor’ is a big lead-up to that big day.
Simply put, penny stocks in that situation might climb a bit on lighter volume leading up to the bigger news. Essential those ‘in the know’ tacked on some extra “points” before the bigger catalyst. But it isn’t just biotech, there are plenty of other industries that give hints on potential catalysts. It might not even come from the companies themselves. Rather things like government news, industry news, and even competitive businesses can give rise to additional opportunities to capture profit.
Unless you made a list and were looking into certain things like that, there’s a good chance you might miss out on the “extra points” in the market, leading up to a bigger catalyst. The point here is simple, start with making a list of penny stocks to watch and then consolidate that as the market opens and stock trends begin to take shape. Heading into the final week of July are any of these on your list of penny stocks to watch?
Penny Stocks To Watch #4: AgEagle Aerial Systems
The first on this list of penny stocks is AgEagle Aerial Systems (UAVS Stock Report). We’ve watched this company for a while now. Since its big move in April, UAVS Stock has been on the radar. Back then AgEagle grew the scope of its contracted commercial drone work. In June UAVS stock saw another pop in the market after we found some interesting information on the USPTO website. A recently filed patent appeared to do with drone delivery services. This is important or could be important considering recent developments.
Author Carrie Rengers of Wichita Eagle recently wrote, “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.”
What’s more, is the government news that came to light last week. Reuters reported that the Trump administration will reinterpret a Cold War-era arms agreement between 34 nations to allow U.S. defense contractors to sell more drones to allies. President Donald Trump “has decided to invoke our national discretion” to effect the change, the White House said. In light of that, it’s no surprise that UAVS stock jumped late in the afternoon. The big question now is can that trend continue into the end of the month?
Penny Stocks To Watch #3: Callon Petroleum Company
Ever since the big sell-off in oil and gas stocks, companies like Callon Petroleum Company (CPE Stock Report) have been taking aim at ways to recover. Obviously the price of oil and gas is a big factor. However, for Callon, the company’s latest string of updates is another grouping of things to keep in mind. While CPE stock isn’t the biggest mover in the short term, shares have steadily climbed for the better part of the last 4 months.
Callon engages in exploration, development, acquisition, and production of oil and natural gas. Activities are primarily conducted in the Permian Basin region of the west Texas and southeastern New Mexico. On Friday, shares of CPE stock climbed to new July highs and continued climbed well-after the closing bell. On August 5 the company plans to host a conference call to discuss its second quarter 2020 financial and operating results.
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It’s important to keep in mind that energy stocks that had been beaten down the most during the height of the coronavirus crisis are now rebounding the most. However, what’s important to consider is that energy stocks have been fueled by speculation recently moves made by OPEC continue to drive more questions than answers. Needless to say, with the August 5th date looming, will this be a “buy the rumor, sell the news,” or is CPE stock set to continue its longer-term bullish trend?
Penny Stocks To Watch #2: eMagin Corporation
eMagin Corporation (EMAN Stock Report) is another one of the popular penny stocks gaining attention recently. We talked about it late last week and shares of EMAN stock pushed higher.
Since early May, eMagin has been a stock to watch. The company focuses on organic light-emitting diode on silicon microdisplays and virtual imaging products. A lot of its revenue comes from sales to military, consumer, commercial, and industrial customers.
If you look on the eMagin site, you’ll see its military application is for a “wide range of military applications. From monochrome night-vision systems to high-end simulation and training applications”. A quick look at its filings, you’ll see that the company’s capable of offering products incorporating OLED displays for thermal imaging devices.
Friday was a telling day for the company. It wasn’t based on a corporate update. But it was based on some government-related news involving eMagin. If you head over to the Department of Defense website, you’ll find out what I’m talking about. As part of the national response to COVID-19, the Department of Defense entered into a $33.6M agreement with eMagin Corporation.
It was to sustain and expand critical industrial base production of organic light-emitting diode microdisplays capable of meeting high-performance requirements in resolution and brightness. Will we hear from the company this week on this development and will this momentum sustain into the end of the month?
Penny Stocks To Watch #1: Adamis Pharmaceuticals Corporation
Adamis Pharmaceuticals Corporation (ADMP Stock Report) is the last on this list of penny stocks to watch. Back in April, the company announced that its wholly-owned drug outsourcing facility, US Compounding Inc. increased its product mix to provide additional drugs to assist in the ongoing fight against COVID-19. This included a variety of pharmaceutical products.
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As we discussed last week, ADMP stock has been surging following a few recent developments. This included a distribution and commercialization agreement with US WorldMeds, LLC for the United States commercial rights for the SYMJEPI products, as well as its ZIMHI™ (naloxone HCI Injection, USP) 5mg/0.5mL product candidate. Fast-forward to the start of this month and US WorldMeds is now actively promoting both SYMJEPI products.
“We are very excited that US WorldMeds is now actively promoting both SYMJEPI products. Adamis has always believed that sales reps calling on high-prescribing allergists and primary care physicians was key to the success of SYMJEPI,” said Dr. Dennis J. Carlo, President, and CEO of Adamis in a PR earlier this month. There weren’t any new developments on Friday, however ADMP stock traded higher after the closing bell. Can this become the new trend at the start of the week this week?