Are These Penny Stocks On Your Watch List This Week?
If you’re looking for penny stocks with premarket volume there are many places you can look. For starters, utilizing a scanner that’s actually built into your trading platform is an easy place to look, first. Some platforms even allow you to set specific criteria based on price, average volume, etc.
There are also a few websites that offer ways to find penny stocks with high volume during premarket hours. Though many of the “free” services are limited, they can at least give you a place to start researching. Other than that, one of the simplest ways – which may not determine “high volume” – is to look for “gapping penny stocks”. This will allow you to see a list of stocks that are trading higher or lower than the previous day’s range.
Here’s an example: Let’s say stock ABCDE closed at $1.00 “yesterday”, which was also its high of the day. Now, “today” you see that same stock begins the trading day (pre market or regular market) at $1.10. That jump is considered a “gap” and in this case it’s a “gap up”. The same can hold true for “gap downs”.
It’s just the opposite scenario. In many cases, a gap can signify that something significant happened between the close of the stock market “yesterday” versus the open “today”. So there’s a good chance that if you’re searching for catalysts like news, a gap can be the telltale sign of corporate developments.
Does a gap indicate that you’ve found the best penny stocks to buy? Not necessarily but it does indicate that there could be something going on to take note of. Are any of these on your list of penny stocks gapping premarket?
Penny Stocks To Buy [or sell]: Biocept Inc.
Shares of Biocept Inc. (BIOC Stock Report) gapped up on Tuesday morning after the company’s latest update. Now, before I get into the details of that news, it’s important to note that BIOC stock has been in a downtrend for several days, now. Last Thursday, the stock hit a high of $1.14 but has since slid as low as $0.78 this week after reporting earnings. Needless to say, Tuesday’s news has sparked renewed interest in the penny stock.
Biocept announced that it was awarded US Patent number: 10,745,749. Entitled METHODS FOR DETECTING NUCLEIC ACID SEQUENCE VARIANTS, the patent provides intellectual property protection for Primer-Switch technology. The tech is useful for the detection of rare cell mutations using circulating tumor DNA analysis through “real-time PCR and associated analysis” methods.
Also, the company’s COVID-19 PCR assay is based on the core Switch-Blocker technology used in Biocept’s suite of ultra-sensitive oncology-focused assays. Biocept has a collaboration with Aegea Biotechnologies, Inc. It will leverage Biocept’s experience in developing high-performance assays based on its Switch-Blocker technology. Following the patent award, this further strengthens the company’s IP. The biggest question: will this news mark a turnaround for the BIOC stock price?
Penny Stocks To Buy [or sell]: MICT Inc.
Another reason to look for gapping penny stocks is in the case of low float stocks. MICT Inc. (MICT Stock Report) was a stock we began following at the start of the second quarter. The company had just announced closing its acquisition with Global Fintech Holdings.
- Should Penny Stocks Be Part Of Your Investing Strategy This Year?
- 4 Penny Stocks On Robinhood To Watch This Week
The company said the deal brings in an asset that could “springboard [MICT’s] future revenue and earnings growth”.Aside from that, MICT focuses on different technological advancements and opportunities to generate revenue. That’s a broad statement but it will make sense after seeing the latest update.
This week, its Micronet Ltd. subsidiary received the first significant order for its SmartCam product. SmartCam subsequently entered a pilot trial with “a global telematics provider,” that it said is an ongoing customer of Micronet. “We expect to ship and book revenues for this sizable order towards the end the year, and we are hopeful that this sale to a major global telematics player will lead to even more substantial orders in 2021,” said CEO, Darren Mercer.
Considering that MICT has less than 12 million shares outstanding, the float is something to take into consideration. The lower the float, the fewer the number of shares trading in the market. This can lead to highly volatile swings in the market as we’ve seen previously from MICT. Will that be the case again today?
Penny Stocks To Buy [or sell]: Resonant Inc.
Resonant Inc. (RESN Stock Report) is also gapping up on August 18th after a big, premarket update. The company announced that its patented 5G XBAR® filters, for non-mobile applications have been successfully manufactured by two different foundry partners using a standard surface acoustic wave (SAW) front end process.
“This technological breakthrough—which for the first time demonstrates the production of high-performance 5G filters on a standard, off the shelf SAW front end process—fundamentally validates Resonant’s ability to produce filters faster, better and cheaper,” said George B. Holmes, Chairman and Chief Executive Officer of Resonant.
Resonant believes that XBAR is the only available RF filter technology today that can innately or natively meet the requirements for bandwidth and performance demanded by 5G applications. Obviously, a focus on 5G stocks has grown this year. 5G penny stocks are quickly becoming a bigger topic of conversation. We saw a surge in shares of companies like Nokia (NOK Stock Report), which experienced a large enough run to leave penny stock territory.
“We expect this milestone to pave the way towards high-volume commercialization of our patented XBAR filter,” said Holmes.
Penny Stocks To Buy [or sell]: NovaBay Pharmaceuticals
Another one of the penny stocks we’ve discussed in the past, NovaBay Pharmaceuticals (NBY Stock Report) gapped up as well on Tuesday. The company announced the launch of Avenova® on Walmart .com. This obviously increases the availability of its facial sanitizer. The unique part about the product is that it was confirmed through independent laboratory testing to kill the SARS-CoV-2 virus on hard surfaces. Avenova, used since 2015 for eyelid and eyelash cleansing, is FDA-cleared.
“The availability of Avenova through online retail giant Walmart is a major win for NovaBay and our customers,” said Justin Hall, NovaBay’s CEO. “We continue to view online sales as the greatest growth channel for Avenova, particularly as pandemic-concerned consumers shift to buying more products online.”
If you’ve followed the site, you should remember NBY stock. Since March, it has been on the move. It has now jumped from around $0.30 to as high as $1.94 and currently sits around $1.30 during premarket trading on Tuesday. Initially focused on for its KN95 face mask, NovaBay attracted attention as one of the “epicenter penny stocks” and has since expanded its offerings.