Penny Stock News Has Catapulted Shares Of These Companies This Week
When it comes to penny stocks and news, more times than not, it acts as a catalyst. Before you leave this article and start looking for any stocks with news, you should understand something. When I say, catalyst, I’m not only referring to bullish catalysts.
There are bearish catalysts too; keep that in mind. We’ve seen negative penny stock news catalysts most frequently in industries like biotechnology and mining. This usually has something to do with not meeting certain endpoints or revealing less opportune conditions. We also see news catalysts (bullish & bearish) around earnings time.
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Herein lies an interesting scenario. Earnings season has ever company reporting results from its previous 3 month period. In many cases, these earnings don’t just impact the companies reporting. They tend to also impact sector stocks. So, for instance, if there are tech stocks reporting favorable growth, the sector typically experiences more bullishness. Whatever the case may be, news can play a big role. Keeping this in mind, are some of these top penny stocks on your list after their latest updates?
Top Penny Stocks To Watch: Fandom Sports Media Corp.
Fandom Sports Media (FDMSF Stock Report) (FDM) continues to attract attention in the market this month. Since the early days of July, FDMSF has seen momentum building as the company built out its business, capitalizing on the timing of COVID-19 & stay at home orders. What does “timing” have to do with the pandemic? One of the things missing during this pandemic has been live entertainment. However, Esports are becoming an emerging class and one that is commanding a billion-dollar industry.
Goldman Sachs expects Esports revenue to top $3 billion by 2022. Considering that figure was only $655 million in 2017, the bank expects 916% revenue growth over this period. While Fandom stock has begun realizing growing interest in the market, the company has also been executing on the growth-front as well. Earlier this month the company confirmed that the Fandom Esports App is now enabled with Mandarin language support and is being tested and assessed by strategic advisors in mainland China.
What could become a bigger focus is what the company most recently announced. This week, Fandom entered into a partnership with Sportradar to use on the company’s Esports engagement platform. Sportradar is a global provider of real-time sports data services.
The partnership will see Sportradar using Fandom’s Esports engagement platform. As a result of the partnership, Fandom Sports will be able to offer a wide array of live, in-game content services for League of Legends, Counter-Strike Global Offensive and Dota 2. All users of the Fandom Esports App will be able to make real-time predictions supported by Sportradar’s real-time data.
“The addition of Sportradar’s live data complements the recent partnership announcement with Esportz Network which is providing Fandom Sports with Esports related content from a network of global journalists,” commented David Vinokurov, CEO and President, Fandom Sports. For More Information On Fandom Sports Media, Click Here.
Top Penny Stocks To Watch: Marinus Pharmaceuticals Inc.
Marinus Pharmaceuticals Inc. (MRNS Stock Report) has been the epitome of volatility this year. It has jumped from $2 to $3, down to $1, back up to $3.50 and, recently, back down to around $1.50. The ones “investing in penny stocks” might have not chosen MRNS stock for their list. However, for traders, this market has offered the volatility to attempt to capitalize on in the short term.
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MRNS stock has been in a downtrend that has spanned over 1 month. So right now you might be asking, why is MRNS on this list of penny stocks to watch? It has mostly to do with the company’s latest update. On Thursday, Marinus announced the U.S. FDA granted the company Rare Pediatric Disease Designation for its ganaxolone. This is the company’s drug candidate for the treatment of CDKL5 deficiency disorder, a rare refractory form of pediatric epilepsy.
The FDA grants this Designation for diseases that affect fewer than 200,000 people in the U.S. in which the serious or life-threatening manifestations are primarily in individuals 18 years of age and younger. After this news came out, MRNS stock began trading higher during premarket hours on July 30th. The penny stock reached highs of $1.93. Considering that level is right around its 200-Day Moving Average, will we see MRNS break back above the technical level or is it set to slide back into its bearish trend?
Top Penny Stocks To Watch: Eros International
Eros International (EROS Stock Report) has been off and on our list of penny stocks for months now. After rallying to highs of $4.91 back in January, the entertainment penny stock dipped to lows of $1.10 in march. As with most stocks, EROS mounted a bit of a recovery since then.
A recent catalyst came at the end of June. The company announced its partnership with Dish TV. Then this month EROS received India’s Competition Commission’s go-ahead for its proposed merger with STX Filmworks and Marco Alliance. It also stacked on a partnership with Sony India to offer online entertainment to customers in India. Since the start of July, alone, EROS stock is up more than 20%.
This week, EROS stock is heating up once again following its latest headline. The company reported that its majority-owned subsidiary has released unaudited financial results of quarter ending 31st March, 2020 as well as the full fiscal year 2020. Eros Now paying subscribers grew 56% year-over-year to 29.3 Million. The company also reported $155.5 million in revenue with $54.8 million in adjusted EBITDA.
Here’s the added kicker. Management made the following statement: We want to highlight that we expect that our previously announced merger with STX Entertainment on April 17th, 2020 will be closing later today. The Company will make a separate public announcement announcing details of the transaction closing. So that may be something to keep in mind as momentum has continued building on Thursday.
Top Penny Stocks To Watch: CBAK Energy Technology Inc.
Companies like CBAK Energy Technology Inc. (CBAT Stock Report) have gained attention recently amid the EV boom the market has seen. The company is a lithium-ion manufacturer and electric energy provider. We caught onto momentum building aroudn CBAT stock back at the end of June.
At the time, the company announced that its subsidiary, China BAK Asia Holdings Limited entered into a framework investment agreement. This was with Jiangsu Gaochun Economic Development Zone Development Group Company. CBAK intends to develop lithium battery projects through this deal.
Further attention on EV penny stocks at the end of this week may have been the initial catalyst for the recent momentum. CBAT stock saw a huge move earlier this month, just a few days after we started following. Shares rallied to highs of $1.69. Obviously, CBAT stock pulled back since then. However, could the growing attention on EV’s kicked things back into gear for the company?
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According to a report from Research And Markets, the lithium-ion battery market was valued $36.7 billion in 2019. It’s projected to reach $129.3 billion by 2027, at a CAGR of 18% from 2020 to 2027. What do you think? Will CBAT stock continue this uptrend or will shares slide back?
