Are These Premarket Penny Stocks On Your Watch List Today?
If you’re looking for trending penny stocks right now, Friday’s premarket is chock full. There are trends coming from all different industries today. One of the driving forces right now hinges on stimulus hopes. That is, at least for things like energy and tech. Then, of course, we’re seeing plenty of biotech penny stocks taking off yet again. Some of which are making new October highs this week. This upbeat sentiment has also brought out more analysts who’ve stayed quiet recently.
Reports have cited President Trump discussing details of a stimulus package with House Minority Leader Kevin McCarthy. Trump indicated he was concerned by the stock market reaction and wanted a “big deal” with Speaker Nancy Pelosi. This was according to sources familiar with the conversation. In light of these developments, it’s clear that the market is all for it.
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However, keep in mind that stimulus news has swayed stocks in either direction; many times at a moment’s notice. Heading into Friday’s session, keep this in mind and elated traders might also be trading on euphoria more so than market fundamentals.
Penny Stocks To Watch: GT Bio Pharma Inc.
Shares of GT Biopharma Inc. (GTBP Stock Report) tested a new 3-week high on Thursday. It also marked a new October high during the session. Some of the biggest attention recently has been on biotech stocks and oncology stocks in particular. GT’s lead candidate is initially targeting acute myeloid leukemia. Its GTB-3550 reported Dose #3 results as part of its Phase I/II clinical trial evaluating the drug.
According to the company, this dose was at a 25mcg/kg/day dose, which showed a decrease in AML blast levels from 18% to 12% in the bone marrow. The dose also didn’t demonstrate any adverse impact to the patient. The company also observed improvement in marrow cellularity as well as improving platelet and red blood cell numbers.
GTB-3550 is a “tri-specific recombinant fusion protein conjugate”. composed of the variable regions of the heavy and light chains of anti-CD16 and anti-CD33 antibodies and a modified form of IL-15. It’s built on the company’s novel TriKE™ technology which is designed to act as a true off-the-shelf option for multiple indications. This includes evaluation in ovarian, breast, prostate, pancreatic ductal adenocarcinoma and lung cancer models.
Penny Stocks to Watch: Medigus Ltd.
Shares of Medigus Ltd. (MDGS Stock Report) were up early during Friday’s premarket session. Additionally, MDGS stock has experienced a strong lead-up in a 4-day uptrend during the past week. What has investors excited on Friday is what Medigus just announced.
The company entered into the e-commerce business by signing a definitive agreement to acquire a controlling interest in Smart Repair Pro, Inc. and Purex, Inc. These are two data-driven e-commerce companies, operating on the Amazon Marketplace. According to the agreement, Medigus will hold 50.01% of the issued and outstanding share capital of each of the companies, acquired through a combination of a cash investment in the companies, and an acquisition of additional shares from the companies’ current shareholders.
The two companies currently manage three brands on the Amazon Marketplace. According to information provided to Medigus, their revenue target for 2020 is roughly $3 million with net profit of approximately 35%.
Following this news, MDGS stock took off to early, premarket highs of $2.55. The biggest question is can this trend continue or will the stock pullback at the opening bell like so many other premarket penny stocks have this week?
Penny Stocks To Watch: Camber Energy
We wrote about Camber Energy (CEI Stock Report) on Thursday as shares began surging in the afternoon session. However, this wasn’t the first time CEI stock took off. In fact, the penny stock’s been running since late September. When we were discussing it last month, the biggest focus for Camber was on its pending acquisition with Viking Energy Group.
Louis G. Schott, Interim CEO of Camber, explained that “Both Camber and Viking have filed their quarterly reports for the periods ending June 30, 2020, the next updates to the companies’ financial statements are not required until November 2020, and we anticipate being able to address any SEC comments on the Form S-4, if any, in only a few weeks after the receipt of such comments, which should allow us to move forward with the Camber and Viking stockholder meetings promptly after the SEC signs off on such Form S-4 filing.”
On Friday. Camber gave an update on this merger. It also addressed the “unusual volume” is had seen on Thursday. What we can say is Camber wasn’t alone in seeing this increase in volume. Being one of the top energy stocks to watch lately, the penny stock has echoed a similar sentiment among countless other energy names. In terms of the ‘update’, there weren’t many new things to cite. The companies are still waiting on comments for its Form S-4 and reiterated the progress that Schott stated in a prior release. Given the market sentiment for energy, will CEI stock continue on this upward trajectory?
Penny Stocks To Watch: XpresSpa Group, Inc.
XpresSpa Group Inc. (XSPA Stock Report) is one of the penny stocks we’ve followed for a good portion of the year. It’s had its big moves up and strong drops back. Recently, however, the focus is more on making its initial dream from earlier in the year, a reality. This is the same XpresSpa that you see in airport terminals giving light spa services to customers. As a result of COVID-19, it put a stop to its spa services. In light of this XpresSpa Group turned this into a way to offer outlets for coronavirus testing in airports.
Where some recent excitement stemmed from was XpresSpa CEO Doug Satzman was featured in a Fox Business segment this month. Following this came news that we’re seeing on Friday. XpresSpa announced that it has begun construction of an XpresCheck™ COVID-19 testing facility at Boston Logan International Airport that is expected to be fully operational by November.
Doug Satzman, XpresSpa CEO, stated, “We are eager to launch XpresCheck at Boston Logan International Airport, which will be our third COVID-19 testing facility this fall. We believe that our current presence in JFK and Newark, and upcoming expansion to Logan enables us to play an important role in supporting the return of domestic and international air travel.”
Penny Stocks To Watch: Rolls Royce Holdings
Not usually a featured penny stock due to the rough year it’s had, however, Rolls Royce Holdings (RYCEY Stock Report) has hit the ground running in October. Since the 2nd, RYCEY stock has climbed from $1.38 to premarket highs today of $3.08. Reports continue to focus on optimism surrounding the company’s latest initiatives. A burdensome cash burn and hopes of raising more money haven’t helped the company’s cause.
However, in light of recent stimulus hopes specifically to help the aviation industry, Rolls has attracted a new group of “bargain hunters” thinking the worst is over. Is that the case? Time will tell. We discussed the company yesterday as it extended its October gains.
One of the things we said to note with RYCEY is what’s happening with regard to stimulus talks. Furthermore, the company is also leading the nine-member consortium to design the “rapid assembly” nuclear power stations to help the UK meet carbon emissions targets.