penny stocks to buy tech technology pennies

Are These Penny Stocks To Buy Or Sell After The Latest Market Moves?

Looking for penny stocks to buy can become a needle in a haystack. On the other hand, there might be so many options to choose from, it’s difficult to narrow things down. Obviously to opposite ends of the spectrum but very real problems faced by day traders. I know recently the general market pullback saw traders a bit more cautious. But this doesn’t mean all penny stocks weren’t worth some attention.

In fact, this week, we’ve seen plenty that’ve outperformed broader markets by hundreds of percentage points. Just this morning, we reported on one of the penny stocks gapping up premarket, SPI Energy Co Ltd. (SPI Stock Report). At the time, shares were trading under $3.75 but pull up a chart today and you’ll see a much different picture. In light of Tesla’s battery day and the increased competition across the EV sector, SPI stock broke out big on Wednesday. How big? Well, the penny stock jumped to highs of $9.25 even before the lunch hour.

What are traders doing now? Following such a huge move, many day traders will look for sympathy in the sector. Whether it’s in technology penny stocks, solar penny stocks, or even EV penny stocks, SPI has triggered a nice reboot for small-cap traders. Something to keep in mind is that when it comes to “sympathy stocks,” the breakout moves can be short-lived.

At the end of the day, these stocks aren’t moving because of anything the companies did. Traders are reacting based on a move or news from another stock. Keeping this in mind, here are a few penny stocks to watch today moving in sympathy after bigger news. Just because they’re trading below $3.50 right now, are they worth the risk?

Penny Stocks To Buy For Under $1: Sunworks Inc.

Sunworks Inc. (SUNW Stock Report) hasn’t been a stranger to big moves this year. Since the start of Q2, SUNW stock is up more than 200% to date and has climbed as high as $1.82 during the first half of Q3. One of the big points of focus recently has been with regard to its pending merger with The Peck Company (PECK Stock Report).

While that deal continues to simmer, both companies have seen a stronger move in the market this week. SUNW stock broke out early following news from SPI, today. Furthermore, the solar penny stock has also benefited from a surge of interest following better earnings from leading solar company JinkoSolar (JKS Stock Report). I think the JKS stock move has been more of a boon to SUNW than anything else. Sunworks, of course, is a solar power company and SPI just formed an EV subsidiary.

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Jinko crushed estimates in its quarterly. The Street expected the company to report an EPADS of $0.61. Jinko came with EPADS of $0.93 for the quarter. Sales also beat estimates during the quarter. This triggered a spike in JKS stock of 20% during the morning session alone. Considering JKS is a $28+ stock, it’s a considerable move. Again, the question now is based on this sympathy, can SUNW stock continue this trend?

penny stocks to buy under $2 Sunworks Inc. (SUNW stock chart)

Penny Stocks To Buy For Under $1: Pareteum Corporation

Pareteum Corporation (TEUM Stock Report) has slowly but steadily reclaimed some of its losses from earlier this year. The penny stock saw a strong move up in January but slid with the rest of the market by March. However, it is worth mentioning that TEUM stock is up YTD so far.

However, things seem to only have just begun to form a more clear trend during the second half of the year. This week, Pareteum stock has moved back up toward its 50 day moving average. It was a previous level of resistance at the end of August when the penny stock tested this level but failed to break and hold above it.

With the latest excitement seeing a stronger focus on tech stocks, TEUM took some spotlight. The company provides Communications Platform as a Service solutions. Pareteum’s platform is a solution to deliver data, voice, video, SMS/text messaging, media, and content enablement to clients. About a week ago, the company partnered with Strattner Technologies to launch the Strattner Voice brand. This is a GSM cellular network complementing its satellite communications network Strattner.Space.

Since that update, TEUM stock has been climbing. Over the last 7 sessions, the penny stock has moved up as much as 12%. Considering the surge in momentum on Wednesday, will that trend remain intact for the rest of the week?

penny stocks to buy under $2 Pareteum Corporation (TEUM stock chart)

Penny Stocks To Buy For Under $2: Aerpio Pharmaceuticals Inc.

Aerpio Pharmaceuticals Inc. (ARPO Stock Report) saw its own surge this week. The penny stock jumped to highs of $1.79 on Tuesday, came back to retest its 50-day moving average, then rebounded once again on Wednesday. The most recent catalyst came in the form of a report published this week. It was a report titled, “University of Cincinnati researchers to study the effects of razuprotafib on COVID-19 patients.”

In it, researches discussed the study of razuprotafib on COVID-19 patents. Specifically, they explained that the drug may “prevent and treat” respiratory distress in COVID-19 patients. The Phase 2 clinical trial will assess the safety, tolerability, and efficacy of razuprotafib. Coincidentally, razuprotafib is the company’s lead compound under development for treating open-angle glaucoma. In fact, earlier this month the company announced the completion of a 28-day Phase 2 trial on razuprotafib.

[Read More] 5 High Volume Penny Stocks To Watch This Week

“We remain on track to report top-line results from this trial in the fourth quarter,” said Kevin Peters, M.D., Chief Scientific Officer and Chief Medical Officer of Aerpio. “We believe that razuprotafib will represent an attractive adjunctive therapy for glaucoma patients based on its novel mechanism of action and favorable tolerability profile, and we have worldwide rights to the program.” 

penny stocks to buy under $2 Aerpio Pharmaceuticals Inc. (ARPO stock chart)

Penny Stocks To Buy For Under $3.50: Trevena Inc.

If you’ve been a reader for a while, Trevena Inc. (TRVN Stock Report) should be familiar. We’ve followed this company since June 2nd. Trevena began collaborating with Imperial College London to evaluate the treatment potential of TRV027 for acute lung injury in COVID patients. What’s more is that the most recent focus has been on the company’s non-COVID pipeline.

The company’s other pipeline treatment, OLINVYK was recently featured in a few publications. It compared the safety between Trevena’s treatment and IV morphine. Mark Demitrack, M.D., Senior Vice President and Chief Medical Officer of Trevena, Inc commented, “These two publications add to the comprehensive safety database of peer-reviewed published literature for OLINVYK.”

“We believe these data will provide important information to clinicians and other healthcare decision-makers in managing acute pain patients in the hospital setting.”

This week, Trevena is presenting at the Virtual 2020 American College of Clinical Pharmacology Annual Meeting. It will discuss TRV027, OLINVYK, as well as its TRV250, a potential migraine treatment

penny stocks to buy under $2 Trevena Inc. (TRVN stock chart)

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