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Do You Rate These Penny Stocks To Buy Or Sell This Week?

If you’re looking for penny stocks to buy, I’m sure the search involves a catalyst or two. Some of these catalysts might be technical indicators, industry updates, or penny stock news. This week has a lot in store. It isn’t just from a general company perspective but rather a market-related one. The final days of July will see hundreds of companies report earnings and that could dictate the pace of things to come. So it’s probably a safe bet that all eyes will be on the market.

Something interesting about earnings season is how traders react to good news from blue-chips. It almost turns into a sympathy bet. Say, for instance, an electronic vehicle company comes out with strong results. There’s a good chance that investors will search for cheaper stocks in the same field. At the very least, they will look for companies that supply parts and components and try benefiting that way. Keep this in mind this week.

[Read More] 4 Penny Stocks To Watch Before August 2020

If certain penny stocks are moving without any apparent, company-related news, it could simply be based on speculative hype. In that case, 9 times out of 10, the “surge” tends to be shortlived. That’s great for day traders but if you’re a swing trader or looking for ways of investing in penny stocks, the “hype trade” might not be your best bet.

No matter what happens in the stock market today as far as earnings are concerned, these penny stocks just came out with big news on Monday. Will that put them on the buy or sell list for the week?

Penny Stocks To Buy [or sell]: BIO-key International

It has been a volatile year for BIO-key International (BKYI Stock Report). It started 2020 off around $0.50, saw several big moves to highs of $2.30, $2.58, and recently $1.71. But nearly every time BKYI stock has broken out as aggressively as those previous days, it has come back to levels around its 200 Day Moving Average. Will things be different this week?

BKYI stock saw a jump in trading volume before the market opened. Shares closed the previous week out around $0.66. On Monday, BKYI stock hit premarket highs of $0.74. What was behind this latest surge? BIO-key announced that Fore Aero has selected BIO-key’s PortalGuard IAM platform to address their secure authentication requirements.

Mark Cochran, President, PortalGuard said, “Our team understands that each customer’s security infrastructure requires a layer of flexibility and customization to mitigate risk and incorporate best practices.  PortalGuard IAM solutions deliver an affordable yet customizable solution, including capturing the organization’s branding within our authentication modules.”

Fore Aero is a manufacturer of flight safety and support parts for national defense and aerospace markets. The customer found PortalGuard to be the most secure, flexible, user-friendly, and cost-effective solution of the several they had vetted. Is this news a big enough catalyst to suggest momentum continues throughout the week or is BKYI stock going to slide back as it has in the past?

penny stocks to trade BIO-key International (BKYI stock chart)

Penny Stocks To Buy [or sell]: Onconova Therapeutics

Another penny stock new mover is Onconova Therapeutics (ONTX Stock Report). This is one of the companies you’re likely familiar with if you’ve been an avid reader of Last week we picked back up on Onvonova’s progress. At the time the company had announced the e-publication in the international hematological malignancy journal Leukemia Research. 

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Keep in mind if you’re new to the site, we first saw this in early December. Shares traded around $0.25. If you look at ONTX stock now, you’ll see it has broken well-above $1 and it looks like things are heating up this week too. On Monday, the company announced that it submitted an application with the National Institute of Allergy and Infectious Disease. The goal is obtaining funding from the National Institutes of Health to conduct human studies with Onconova’s rigosertib in COVID-19 disease patients.

“Recent preclinical studies conducted with rigosertib demonstrate impressive inhibition of SARS-CoV-2 replication in Vero Cells when compared to controls including agents currently being administered and studied in SARS-CoV-2 infection, and provide the Company with optimism that further research in humans infected with SARS-CoV-2 is warranted,” said Steven M. Fruchtman, M.D., President and Chief Executive Officer. Considering ONTX stock has jumped above $1.20 before the opening bell it looks like investors have taken this news as a positive. Will this sentiment continue building throughout the week?

penny stocks to trade Onconova Therapeutics (ONTX stock chart)

Penny Stocks To Buy [or sell]: Genius Brands

Genius Brands (GNUS Stock Report) is one of the “love/hate” penny stocks on the list. It began running last quarter and surged from under $0.30 to highs of $11.73 believe it or not. However, the last few months of trading haven’t been that kind to the entertainment stock. GNUS tumbled back down below $1.80 as of Friday’s aftermarket session.

On Monday, Genius Brands came out with an update that seems to have sparked some interest in the market. The company reported that its first iOS launch, with the debut of an all-new dedicated Kartoon Channel! app, available free on Apple iOS.

Andy Heyward, Genius Brands Chairman and CEO, stated, “We are thrilled that the viewing audience has discovered Kartoon Channel! so quickly!  The multitude of parents downloading our app for their kids has skyrocketed in the first 24 hours with the app reaching in the Top 10 for kids, and climbing, while receiving thousands of 5-star ratings. Kartoon Channel! is already significantly ahead of our plan.”

The biggest question here is can this move continue? There’ve been plenty of times in the past where GNUS stock starts to move higher, then falters later on. During premarket trading on July 27th, it appeared that the penny stock was heading back toward the $2 mark. Given the latest development, is this on your buy or sell list right now?

penny stocks to trade Genius Brands (GNUS stock chart)

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