penny stocks to buy $2

Do These Penny Stocks Have New Highs In Store?

Are you constantly searching for new penny stocks? Sometimes the best ways to find them are by searching for recent news. More times than not we see penny stocks running after key updates. While this isn’t always the case, there’s a good chance that if you found certain penny stocks to buy, at least a few have recent developments.

It’s also worth mentioning that news doesn’t always need to come in the form of a press release either. As I’m sure many of our readers saw this year, companies have utilized social media and corporate filings to get their information out. The important part is understanding what it means for a company and, of course, if it’s real. Earlier this year, a few companies fell victim to fake reports and even unverified news that caused shares to rise. Once that news was confirmed as fake, those penny stocks suffered serious blows.

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Regardless, penny stocks are volatile on their own. Some will rally without any news too. In this case, you’ll want to look at previous updates or filings for clues. One example of this is with biotech penny stocks. These companies are known for conducting phase trials.

Penny Stocks, News, & More

Most of the time, they’ll announce a future date they plan to release results. This might be a few days from that update or it could be a few months. Needless to say, leading up to and potentially beyond that “result date”, momentum tends to play a role in the market.

Then you’ve got traders who simply search for certain types of penny stocks. It might depend on share structure in the case of low float penny stocks. It could also depend on sympathy stocks. These are companies in a similar industry where an industry-related announcement or update from a leader in that industry gives traders a certain mentality.

That mentality is “if this ABCD Industry company did that, maybe this other ABCD industry company will too.” As they say, knowing is half the battle so with that in mind, will any of these make your list of penny stocks this month?

Penny Stocks To Watch Under $2: Ferroglobe PLC

Ferroglobe PLC (GSM Stock Report) was a top performer between March and June. Shares jumped from around $0.35 to highs of $0.88. But following its earnings release, GSM stock dropped aggressively lower to low of $0.4513 heading into July. Not much has come about since then aside from a few updates.

First, on June 30th Ferroglobe and Mississippi Silicon LLC, collectively representing the majority of American silicon metal production, petitioned the U.S. Department of Commerce and the U.S. International Trade Commission to stop silicon metal producers in Bosnia and Herzegovina, Iceland, Malaysia and Kazakhstan from selling dumped and unfairly subsidized silicon metal imports into the United States. Preliminary International Trade Commission determination is expected by August 14, 2020.

[Read More] Are These Penny Stocks To Invest In Or Day Trade?

Following that update, the company announced a new Executive VP of sales and marketing and received approval from NASDAQ to transfer shares to the NASDAQ Capital Market. Heading into next week, the recent surge of activity could have stemmed from that June update however all speculation is up in the air right now. Since the last time we focused on GSM stock, we’ve seen it climb about 15 cents.

penny stocks under $2 Ferroglobe PLC (GSM stock chart)

Penny Stocks To Watch Under $2: Aerpio Pharmaceuticals

Aerpio Pharmaceuticals (ARPO Stock Report) has been a focus since mid-May. The company had just restructured a licensing deal that included a $15 million immediate payment as well as up to $90 million in milestone payments. In late-June, Aerpio began patient enrollment in its double-blind, placebo-controlled Phase 2 trial in patients with elevated intraocular pressure associated with open-angle glaucoma or ocular hypertension. Over the course of time between then and now ARPO stock has jumped as much as 129%.

This week has been one of the most active in terms of trading volume. ARPO typically saw between 500k to 1 million shares traded on average. This week, the lowest volume day – Thursday – clocked in at 2.7 million. Also, Aerpio’s newsfeed has been full of new updates. On August 4th, the company announced an agreement was reached to evaluate razuprotafib in a new randomized, investigational trial.

This is for the prevention and treatment of Acute Respiratory Distress Syndrome in adult patients with moderate to severe COVID-19. This is part of MTEC-20-09-COVID-19 Treatment Military Infectious Disease Research Program “Development of Treatments for COVID-19″.

The Medical Technology Enterprise Consortium will provide up to $5.1 million in funding toward the clinical trial. What’s more, is the partnership will provide resources to support a second COVID-19 Phase 2 clinical trial with razuprotafib. It’s being investigated for its potential to prevent and treat the severe respiratory distress observed in COVID-19 patients.

penny stocks under $2 Aerpio Pharmaceuticals (ARPO stock chart)

Penny Stocks To Watch Under $2: Exela Technologies Inc.

Exela Technologies Inc. (XELA Stock Report) continued its week-long rally on Friday. The penny stock pulled back from July highs of $0.758 and ended up, once again, settling around its 50 Day Moving Average.

[Read More] 3 Penny Stocks To Watch With Unusual Volume In August 2020

This level has acted as an area of support for XELA stock since May. Exela’s model is built around enterprise software in general. When we first discussed this, the company was pushing its Intelligent Locker system. It has also been putting deals together with businesses like Co-operative Bank. The two companies are working together to expand their existing partnership to deploy Exela’s Confirmation of Payee platform. 

Last month Exela reported on Mastercard’s confirmation of enrollment of its Request to Pay solution by Pay.UK. It’s a leading retail payments authority in the UK. The Mastercard Request to Pay solution was co-developed with Exela Technologies. It’s going to leverage the proprietary technology which will be deployed by Mastercard in the cloud, to enable billers to make payment requests through a secure, unified messaging service. Through these developments, XELA stock has continued climbing higher.

This week saw the stock stick with the trend. It also came with yet another announcement. Exela officially launched its DrySign. It was in a closed beta according to the company and is now available to the public. DrySign is powered by Exela’s digital signature technology, which allows users to securely exchange legally enforceable signatures from anywhere, at any time, with specifically targeted instructions. Considering the “virtual world” that COVID-19 created, many traders have circulated the recent series of updates targeting a “touch-free” work environment. Will Friday’s momentum carry through the remainder of August?

penny stocks under $2 Exela Technologies (XELA stock chart)

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