Will These Penny Stocks Stay Below $4.50?
Are penny stocks part of your trading strategy right now? With so many options available like crypto, options, futures, and, of course, blue-chip socks, it can be something to consider. However, not all penny stocks are “good for your health”. I’m partly joking and partly serious here.
If you are not used to high volatility and high-risk trading, penny stocks should be approached cautiously. If you haven’t heard about it yet, first, I don’t know where you’ve been this week. Second, let me tell you Eastman Kodak Company (KODK Stock Report) is a prime example of what can happen with penny stocks.
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This week started out like any other with KODK stock trading around $2.15 a share. On average, the daily share volume was around 100,000 shares and the price was relatively range-bound between $2 and $2.30. Then there was news from the Wall Street Journal with a follow up from President Trump regarding a letter of interest for loaning the camera company over $760 million.
Are Penny Stocks Worth The Risk?
That sparked an absolute firestorm of interest that saw KODK stock scream to highs of $60. In 3 days, KODK stock jumped from an open of $2.13 on Monday to those Wednesday morning highs, a 2,717% move. Whether or not this can sustain such a move is up in the air.
However, the point can be made that this is a clear example of volatility, risk, and ultimate reward. Again, depending on where the entry was made into the stock would determine the final outcome. It can obviously come swiftly and the move sometimes doesn’t last more than a few hours or minutes in some cases.
Still here? Great, that means you’re interested in penny stocks. In light of this, it’s also important to keep stock price in mind. Typically the lower the price, the higher the volatility. With this in mind, here are penny stocks that can be bought for under $4.50 right now. Just because they’re trading at lower levels, does it mean they’re the best penny stocks to buy right now?
Penny Stocks To Buy For Under $4.50: AYRO Inc.
Shares of AYRO Inc. (AYRO Stock Report) saw a nice rebound on Wednesday. If you remember AYRO stock was on our list of EV penny stocks to watch at the beginning of the month. Its emissions-free electric vehicles are used in urban and short-haul markets. What may be more familiar to some of you is that it was previously known as DropCar (f/k/a DCAR). This culminated in what was found to be a big announcement on May 29th. The company and DropCar announced a merger, which we know today, became Ayro Inc.
Its filings show Ayro has a North American footprint with dealers in the U.S., Mexico, & Canada. Vehicle product revenue for the years ended December 31, 2019 and 2018 were $787,386 and $1,198,977, respectively.
Recent Developments With AYRO Stock
A recent surge of interest in EV penny stocks this week may be the “culprit” to the latest jump in AYRO stock. If you take a look at the chart, you’ll see that July has been a monster month. From its July 2nd $2.90 open, AYRO stock has managed to reach highs of over $8 this month and currently sits just shy of $4.50 as of the close on July 29th.
Aside from sector momentum, AYRO has also built real progress on the corporate front. Last week the company announced receipt of $584,000 in orders for its inaugural purpose-built EV hospitality truck solution. The milestone follows the recent partnership announcement with Gallery Carts (Gallery), a leading provider of food, beverage and retail carts, kiosks and portables.
The collaborative AYRO-Gallery engineering partnership was established in part to launch these new “on-the-go” hospitality vehicles. Will sector momentum carry AYRO stock through the end of the week?
Penny Stocks To Buy Under $4.50: Atossa Therapeutics Inc.
Back in April we started following along with the progress from Atossa Therapeutics Inc. (ATOS Stock Report). The company had just announced progress with a Phase 2 study administering oral Endoxifen in what’s known as “the window of opportunity” in breast cancer patients. This “window” is the time between the diagnosis of breast cancer and surgery. It also had reported some COVID-related news in March.
Over the last few months, you’ll see that things proved to be optimistic for ATOS stock. It has climbed to recent highs this month of $4.69. This month the company has hit the market with big coronavirus news that has helped keep sentiment high.
Recent Developments With ATOS Stock
Atossa announced that it contracted with Avance Clinical Pty Ltd to conduct a clinical study of Atossa’s proprietary drug candidate AT-301. It is to be administered by nasal spray. Avance is an Australian clinical research organization and has successfully completed multiple clinical studies of Atossa’s proprietary Endoxifen.
On Thursday the company’s CEO, Dr. Steven Quay, M.D., Ph.D., will present in a seminar. He will present the company overview followed by a Q&A session regarding Atossa’s breast cancer development programs and recent progress with its two COVID-19 treatment programs. Considering the attention that coronavirus penny stocks continue receiving, could the latest round of momentum be a result of strength in this niche alone or are traders looking for more heading into this presentation?
Penny Stocks To Buy Under $4.50: ADMA Biologics
ADMA Biologics (ADMA Stock Report) has been relatively flat for the last few months. For day traders, that might have offered them some range-bound opportunities. Shares of ADMA stock have traded between $2.50 and $3.25 for the most part. The last 2 weeks created the most recent trough on the stock chart. But some new developments could have sparked a bit of interest at the end of July.
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On Wednesday, the company announced that it will host a conference call to discuss its financial results on August 5th. Earlier this month, the company also reported that it began operations and initiation of collections at its newest plasma collection facility in Knoxville, TN. ADMA also announced that it has submitted a Biologics License Application (BLA) to the U.S. FDA seeking approval for this second plasma collection center.
Recent Developments With ADMA Stock
The Wall Street Journal came out with a report today that could signal potential momentum for plasma collection companies. The Journal reported that the FDA could be nearing a decision to authorize emergency use of antibody-rich blood plasma from recovered Covid-19 patients for treating those infected with the coronavirus.
The Journal cited “people familiar with the matter” but no one by name. Considering this has yet to be officially confirmed, it simply something to note at this time in my opinion. But all the same, ADMA stock started to surge a bit at the end of the 7/29 session and that could be a reason why.
Penny Stocks To Buy For Under $4.50: Bionano Genomics
Bionano Genomics (BNGO Stock Report) has been in a more detailed focus since April 28th. We’ve seen BNGO stock rise from around $0.40 at that time to highs of $1.16 this week. During the course of those weeks, Bionano has announced new progress on its COVID-19 treatment.
Specifically, Bionano’s Saphyr system is a platform for ultra-sensitive and ultra-specific structural variation detection. The company says that this enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets. It also allows them to streamline the study of changes in chromosomes.
Earlier this year the company conducted a study to identify certain substances related to resistance or sensitivity to COVID-19. Bionano announced that a European consortium published the first paper on Bionano’s Saphyr genome imaging instrument as well. The information centered around the performance of Bionano’s data in comparison to the cytogenetic standard of care in constitutional or inherited genetic disorders.
Recent Developments With BNGO Stock
It’s a lot of scientific jargon I know. But the main thing is that investors are starting to pay attention to BNGO stock. Something that many could focus on before August in Bionano’s latest update. After the close on July 29th, the company announced that a study published in the journal Nature* used Bionano’s genome imaging technology.
It built reference-quality genomes of six bat species. The genomes provide evidence that bats can tolerate and survive viral infections much better than other mammals. This is a trait that is highly relevant in the context of the COVID-19 pandemic according to the company.
In light of these findings, Erik Holmlin, Ph.D., CEO of Bionano Genomics commented: “We are proud that the Vertebrate Genome Project and the Bat1K project used Saphyr genome imaging data as the main scaffolding tool to build accurate platinum genomes. Through its contribution to our understanding of the bat immune system, Bionano’s genomic data continues to contribute to our knowledge of SARS-CoV-2 and the COVID-19 pandemic.”
Will this see BNGO stock bounce back from the slide it has seen over the last few days?
*Jebb, D., Huang, Z., Pippel, M. et al. Six reference-quality genomes reveal evolution of bat adaptations. Nature 583, 578–584 (2020)