top penny stocks to buy sell right now_

These 4 Penny Stocks Are Making New August Highs

Trading penny stocks can be as easy as opening up a trading account, depositing money, then placing a buy order. There really isn’t a way to overcomplicate the actual method of trading. However, mastering that method to make money with penny stocks is where many fall short. I recently helped put together an article on the basics of how to start investing in stocks; penny stocks in particular.

It goes over a lot of different topics. Anything from charting strategies to fundamentals, the basic overview was given as a place to start learning. But your journey as a trading will constantly evolve. Different market conditions will help mold different strategies to deploy. The one thing to keep in mind no matter what is that you’re in this to make money; not to hold worthless shares.

Penny Stocks & The Basics

One of the quickest ways to get burned is to fall in love with the hype. We’ve seen countless penny stocks explode, then implode just as quickly. Nothing goes up in a straight line forever, and expecting a stock that’s already up 300% to keep going higher is a bit extraordinary. In the long term, can it happen? Sure it can but understand that there’s likely going to be periods of profit taking along the way.

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So keep that in mind. When you hear traders talk about “the dip,” this is where they’re usually looking: after a big run and during a profit-taking selloff. The important part is understanding levels of support and resistance and observing the strength of the overall trend. In any case, it’s important to know the basics.

Once you’ve got the basics down, the next step is deciding which penny stocks to buy. Making a list can be a good place to start. Are any of these on yours right now?

Penny Stocks To Buy [or sell] #1: India Globalization Capital

Did you read our article yesterday about some stocks under $4? India Globalization Capital (IGC Stock Report) was on there and for good reason.

Late in the afternoon on August 11th, the company announced the U.S. FDA notified IGC that it authorized the company to initiate a Phase 1 human trial study. This was for its investigational cannabinoid formulation treating patients with dementia due to Alzheimer’s disease. IGC said that after the completion of administrative tasks, it plans to begin enrolling patients for a 12-subject safety Multiple Ascending Dose Study.

“Our strategy with IGC-AD1 is to initially conduct trials that establish the efficacy of IGC-AD1 on the Behavioral and Psychological Symptoms of Dementia…Eventually, we expect to evaluate the efficacy of IGC-AD1 on plaques and tangles, the hallmarks of Alzheimer’s disease…We believe that this a first human trail of this sort,” said IGC CEO, Ram Mukunda.

This latest development has trigger a strong push in the stock market today. IGC stock broke out even further this morning. It reached fresh August and 2020 highs of $2.05 before a profit-taking pullback. Heading into the afternoon session, shares remain well-above $1 and volume continued to see above-average activity.

penny stocks to buy sell India Globalization Capital (IGC stock chart)

Penny Stocks To Buy [or sell] #2: Avino Silver & Gold Mines

It’s not often we see mining stocks performing while metals prices are down. Today, however, Avino Silver & Gold Mines (ASM Stock Report) has gone against the grain. The prices for gold and silver dropped like a rock this week. Hopes of a coronavirus vaccine grew stronger, yields increased, and the precious metal trade came out of favor. However, as both gold and silver dropped, ASM stock has managed to weather the storm. That may be due, in part, to the fact that it had already experienced a pullback a few days prior.

Earlier this month, Avino’s stock price hit a new August and 52-week high of $1.49. This came a few days before the company reported its earnings. Tuesday evening, Avino came out with results showing similar results to other mining companies. COVID-19 made its mark, and Avino saw revenues declining year over year. However, its mine operating income came in at $800k, which was up 166% from the same period in 2019.

[Read More] Are These Penny Stocks to Buy Or Sell In August 2020? 1 Up 267% In Q3

Considering the fact that most major silver and gold stocks have declined today, ASM stock has shined a bit more.The mining stock is up over 105% year-to-date. In light of current conditions, however, will ASM be one of the top penny stocks to buy right now or avoid?

penny stocks to buy sell Avino Silver & Gold (ASM stock chart)

Penny Stocks To Buy [or sell] #3: Ocean Power Technologies Inc.

Another one of the penny stocks that was discussed yesterday was Ocean Power Technologies Inc. (OPTT Stock Report). The company tweeted an update earlier this week focusing on its PowerBuoy product. Wednesday the company came out with another tweet on its PowerBuoy, this time showing it deployed off the NJ coast. While this isn’t a news release, it has seemed to turn a few heads again on August 12th.

Other than that, there haven’t been many other new updates to note. The company’s last filing was back in July and that was simply an updated investor deck. One thing that could be driving a bit of hype right now is the market’s focus on renewables. Ocean Power focuses on solutions to provide power and communications for remote applications. Its product and service portfolio includes hybrid power, surveillance as well as solutions for engineering and support on open water.

In light of this, there’s been plenty of attention placed on alternative energy companies thanks to Tesla’s growth. Not only have we seen charging station stocks rally. We’ve also seen EV penny stocks and even hydrogen cell stocks jump in light of potential future demand. Is this part of the driving force for OPTT during the last few quarters? Since March, the penny stock’s climbed from $0.33 to new 2020 highs this week of $1.53.

penny stocks to buy sell Ocean Power Technologies (OPTT stock chart)

Penny Stocks To Buy [or sell] #4: MariMed Inc.

What list of penny stocks would be complete this week without at least one pot stock? MariMed Inc. (MRMD Stock Report) finally saw a green day on Wednesday. After making new August highs in the morning, MRMD stock continued higher into the lunch hour on August 12th. The marijuana penny stock also experienced some of its highest trading volumes since June. This week’s momentum seems to have stemmed from a few key developments.

[Read More] 3 Penny Stocks To Watch Before Next Week; 1 Up 128% This Quarter

First, on Tuesday, MariMed reported its 3 and 6 month results for 2020. MariMed realized a 163% increase in core cannabis revenues compared to Q2 in 2019. Furthermore, its 6 month results jumped nearly 140% compared to last year; up from $7.2 million to $17.1 million this year.

“Our renewed focus on our core cannabis business and the consolidation of our managed assets are the key drivers of MariMed’s positive Q2 results…I am confident that this momentum will continue for the balance of 2020 and into 2021 as we continue to implement our consolidation strategy and enhance stockholder value”

Bob Fireman, CEO of MariMed

Wednesday, the company announced more. MariMed was granted 3 adult-use licenses in Massachusetts. These were for cultivation, production, and retail. The cultivation and production licenses will be deployed at MariMed’s 70,000-square-foot cannabis manufacturing facility in New Bedford, Mass. The retail license will be at its Panacea Wellness™ Dispensary in Middleborough, Mass.

marijuana penny stocks to buy MariMed Inc. (MRMD stock chart)

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