Will These 4 Penny Stocks Make New Highs In August 2020?
4 Penny Stocks To Watch Before September 2020
Whether you’re trading them or investing in penny stocks, the goal is simple: make money then repeat the process. Some say it’s gambling while others say they’ve got a strategy when it comes to these cheap stocks. Regardless of whether you think penny stocks are similar to craps or not, you certainly can make money quickly. Becoming consistently profitable is the ultimate skill to master and it’s simple. But I didn’t say it was easy so taking time to learn how to buy penny stocks and make money is important in my opinion.
Take, for instance, The Eastman Kodak Company. I think that will be one of the penny stocks to go down in history for both creating huge gains and creating some of the biggest bag holders in history. We’re talking about a penny stock that ran from around $2.13 to highs of $60 in less than a week. It also fell from $60 to under $10 in about that same amount of time.
Trading Penny Stocks With High Volatility
Depending on which side of the mountain you were on, determined how you feel about what I just said. The point of the matter is that inexperienced traders could have gotten very lucky trading KODK early on. There wasn’t much waiting time to see it run 100%, let alone 1,000%+. That doesn’t mean those who made money with KODK are now pro traders. It just means they made money.
Unless you can duplicate a similar approach to trading penny stocks profitably, luck is what played the bigger role. Learn how to trade penny stocks before you start jumping in headfirst; at least the basics. You can read through 60+ pages of our PennyStocks.com eBook for free to get started. You can also take things to another level and learn from traders who are already consistently profitable with a proven system.
I digress. At this point, I assume you’re already interested in trading penny stocks. With this in mind, here’s a list of 5 that’ve started trending higher this week. Are new highs in store before September 2020?
Begin List Of Penny Stocks To Watch>>>
Penny Stocks To Watch #1: Uranium Energy Corp.
Uranium Energy Corp. (UEC Stock Report) has experienced a solid quarter so far. At the start of July, UEC stock was trading around $0.86. This week it has reached highs of over $1.10 so far. Obviously, energy penny stocks and blue-chips, in general, have gotten more attention recently. Thanks to all of the global economic and geopolitical events, energy stocks have seen their share of volatility. Uranium Energy, specifically, is a uranium mining and exploration company.
It has operations in South Texas, Wyoming, Arizona, New Mexico, Paraguay, and Colorado. While there haven’t been many headlines, the most recent update came from results of the company’s general meeting. This included approving a stock incentive plan, its executive compensation plan, and electing or re-appointing officers and directors of the company.
The Trump administration, with encouragement from Republican U.S. Sen. John Barrasso of Wyoming, has been eager to come to the domestic uranium industry’s rescue. Also keep in mind that in February, the administration asked Congress for $1.5 billion over 10 years. This is to create a new national stockpile of U.S.-mined uranium. A reliable supply of uranium is critical to U.S. energy security, proponents say.
Click To Continue To Penny Stock To Watch #2>>>
Penny Stocks To Watch #2: BELLUS Health Inc.
It’s never uninteresting to see penny stocks evolve from certain milestones. We first began to follow BELLUS Health Inc. (BLU Stock Report) on July 6th just as the stock had reached a new low. Why would anyone look at the company on that date? Well, biotech penny stock in particular can be fickle. Namely, when they report negative results, there’s always management’s discussion to focus on afterward. While it tends to be a bad scenario for anyone who held shares prior to the news, after the drop tends to be “interesting”. Stocks either continue aggressively lower or try to bounce. In this case, BLU stock didn’t bounce big but it didn’t break down either.
On July 6, BELLUS reported that it did not meet its primary endpoint in its Phase 2 RELIEF trial of BLU-5937 to treat chronic cough. In the trial, the drug was well tolerated, with no serious adverse events reported. However, it didn’t meet its primary endpoint of reducing placebo-adjusted cough frequency. Roberto Bellini, President and Chief Executive Officer of BELLUS Health said, “We believe the Phase 2 data support moving BLU-5937 forward into an adaptive Phase 2b trial enriched for higher cough count patients. We expect to begin this trial in the fourth quarter of 2020.”
Aside from earnings results, which appear to have been expected based on the market’s lack of reaction, no new update has come out. But that hasn’t meant there isn’t anything to focus on with this company, currently. The twitter feed of Bellus CEO Roberto Bellini. In a discussion thread, Bellini cited several initiatives for the upcoming few months. He also discussed BLU-5937 and how it showed ‘clear activity’ in higher cough patients. He didn’t expect big details in the quarterly however, he cited that September could be a busy month to keep Bellus in mind.
Click To Continue To Penny Stock To Watch #3>>>
Penny Stocks To Watch #3: FinVolution Group
FinVolution Group (FINV Stock Report) saw its first big day of momentum in months, on Thursday. The penny stock has been mounting a comeback of sorts ever since mid-March. August 20th saw FINV stock hit a new 2020 high of $2.95 during the morning session and more than 11 million shares had traded by the early lunch hour. The move came a day after FinVolution announced its formal earnings results date – August 25th.
What’s more is that insiders are continuing to buy the penny stock. According to an update earlier this month, the company announced that Shaofeng Gu, Chairman and Chief Innovation Officer, continued to purchase in his personal capacity 1.46 million of the company’s stock in Q2. As of June 30, 2020, Shaofeng Gu beneficially owned 412,257,375 ordinary shares, representing approximately 27.7% of ownership in the company.
If you couldn’t guess by the name, FinVolution is in the FinTech industry. The company connects underserved individual borrowers with financial institutions. Considering earnings are coming up at the top of the week next week, could this momentum stem from speculative trading? In its last earnings report, the company beat estimates on both EPS and revenue. It’s Q1 GAAP EPS came in at $0.0385 which beat by $0.01 and revenue came in at $297.47M (+40.8% Y/Y).
Click To Continue To Penny Stock To Watch #4>>>
Penny Stocks To Watch #4: Party City
Party City Holdco (PRTY Stock Report) has been one of the brick and mortar, turned brick and click penny stocks to watch this year. Surprisingly, it is one of the few retail penny stocks that hasn’t written a sad story of epic failure (yet). There’s no doubt that a “non-eCommerce” model of some sort was a lapse in judgment for countless retailers who fell victim to bankruptcies and closures stemming from the pandemic. So far, PRTY stock has experienced a relatively consistent uptrend in the stock market.
Over the last few weeks, large shareholders have increased positions. Namely, Clifford Sosin of CAS Investment Partners LLC filed two FORM 4s earlier in August, It shows that he increased his position to over 12 million shares of PRTY stock. The purchases were made between $1.7432 and $1.9348 from August 7th through the 12th.
In Q2, Party City reported better than expected sales results. That has continued to help fuel the rally in PRTY stock. What’s more important to note is that the company reported an 83% increase in North American eCommerce sales for the quarter. While June comp sales were down 6.5%, July brand comps were positive according to the company. This month, the company revealed new trends to help “You Boo You” safely this season. Party City also put an emphasis on the fact it’s not just providing products in stores but also online. Since the end of May, PRTY stock has jumped as much as 296%.
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