Are You Watching These Top Penny Stocks Today?
It’s no secret that penny stocks are red hot this year. But when the market sells off, some tend to sit on the sidelines and wait. What are they waiting for? I have no idea because there’s been no shortage of massive runs from cheap stocks under $5 this year. Whether you’re a day trader or looking for ways to invest in penny stocks, the options are plentiful.
One of the clearest gauges of the temperature on small-cap stocks is the Russell 2000 (IWM ETF Report). With a net asset value (as of Oct 14th) of just under $44 billion, it has become a benchmark of sorts to see how traders feel about small-cap stocks. While the Russell isn’t tracking all penny stocks, it is following some of the most active names.
Needless to say, there are plenty of other penny stocks that aren’t in the Russell 2000 but still perform incredibly well. If you’ve been a reader of ours for a while now, there’s a high chance you’ve heard me or other writers talk about risk. This is the biggest point of focus traders should have. It’s not about how much your position is up, it’s how much of those gains you get to keep.
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It’s exciting to see penny stocks explode hundreds or thousands of percentage points but if you don’t capitalize on the move or hold too long, you’ve just created your own piece of artwork. Yep, hang that “bag” on the wall and remind yourself that no one ever went broke taking a profit. The long story short is that even if you sell “too early,” if the trend is strong, there will be opportunities to reenter that trade.
Are You Investing Or Just Looking For Penny Stocks To Buy & Flip?
Risk and reward all have their places in the ecosystem of the stock market. So it’s important to plan your trade and trade your plan. Are you aiming to take a longer-term position or just make a quick flip? This will dictate the type of penny stocks list you put together. Heading into the end of the week, would you rate these as penny stocks to buy, sell, or hold right now?
Penny Stocks To Buy [Sell or Hold]: Entasis Therapeutics Holdings Inc.
When you talk about penny stocks to buy, some will look for extreme levels. This might be weekly highs, lows or even longer time frames like the 52 week levels. While not all penny stocks at 52 week lows will breakout and not all penny stocks at 52 week highs will break down, these levels are a good point to take note of.
In the case of Entasis Therapeutics Holdings Inc. (ETTX Stock Report), the penny stock’s been trending near its 52-week low territory. ETTX stock has been one of the more beaten-down names in the biotech this year. Back in March, the stock got rocked, then saw a bout of crazy volatility that sent the stock up hundreds of percentage points then down even lower within a 48 hour period.
What To Watch With Entasis Therapeutics Holdings Inc.
Fast-forward to this week and ETTX stock has begun turning a few heads. In fact, Thursday’s session saw the highest share volume day all year, only rivaled by the day it went public. Needless to say, it’s a very different stock at $2.10 compared to its IPO price. But Thursday’s trading saw the first signs of life in quite some time.
But some things to note are who’s taking a large position in the company and what’s happening this month with the company. First, Innoviva Inc. has built a 69% stake in Entasis. That’s as of the most recently filed 13D. Furthermore, despite the prior trend, we’re seeing ETTX now. Whether that’s a good or bad thing, time will tell but in the next week, Entasis will have several data presentations at the virtual ID Week beginning on the 21st.
Penny Stocks To Buy [Sell or Hold]: Evogene Ltd.
Evogene Ltd. (EVGN Stock Report) is no stranger to big moves. In fact, shares of the “cheap stock” managed to surge more than 90% since the start of September. One of the biggest catalysts behind the surge of interest, began with an equity investment by ARK Investment Management. Then Evogen reported positive pre-clinical results in a study of its subsidiary’s live bacterial product, BMC128.
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In these studies, Biomica, Evogene’s subsidiary, tested BMC128, which consists of four live bacterial strains. These were derived from Biomica’s drug candidates BMC121 and BMC127. Treatment with BMC128 showed to significantly improve anti-tumor activity in mice.
What To Watch With Evogene Ltd.
This week, momentum continued after another big update from Biomica. The company announced the advancement to large-scale production of BMC128. The microbes, which will be produced in large-scale are expected to support Biomica’s first-in-man proof-of-concept clinical trials for its immuno-oncology program. This is anticipated to begin in 2021.
Ofer Haviv, Chairman of Biomica and President & CEO of Evogene explained, “We see significant opportunity in this program which has the potential to bring new solutions for patients currently uncurable under available therapies.”
The interesting thing about Thursday’s action was EVGN stock was getting sold off right until the final 30 minutes of trade. Right around 3:30 PM EST EVGM stock pulled an immediate about-face. Shares ended up bouncing back aggressively from $3.70 to a close of $4.
Penny Stocks To Buy [Sell or Hold]: NewAge Inc.
NewAge Inc. (NBEV Stock Report) is no stranger to big spike in the market. However, the company has recently gone through a rebirth of sorts. As one of the top marijuana penny stocks to watch quite a while ago, NBEV stock is being discussed in other industry circles now. The last time we talked about NewAge, we were mentioning it as part of the emerging epicenter penny stocks to watch. FundStrat Head of Research, Tom Lee, coined the term “epicenter stocks” being ones found in sectors like consumer discretionary, industrials, technology, energy, and even health care.
In a corporate update in July, the company stated, “Although NewAge remains committed to the beverage category in all channels, and beverages still represent almost 50% of the Company’s portfolio, NewAge sees significant opportunities in the broader consumer goods landscape, leveraging its unique omni-channel route to market, and, in particular, its significant direct and e-commerce presence in major markets around the world.”
The company’s IP encompasses 11 patents. Its IP portfolio encompasses everything from electrolyte replacement and cardiovascular health to radiation protection and diabetes treatment.
What To Watch With NewAge Inc.
This week, NewAge announced that its DSD Division has added “one of the most sought-after new brands in the US,” ZenWTR, to its portfolio. Furthermore, the company said it’s on track to record double-digit organic growth in 2020 over 2019. NewAge has been awarded the exclusive distribution rights in its market area for ZenWTR.
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“We continue to see milestones eclipsed month after month, from some of our longest standing partners who are achieving record sales heights. The addition of new brands, such as ZenWTR, has further strengthened our already amazing catalog of brands,” said Josh Hillegass, President of NewAge’s DSD Division.
While volume wasn’t aggressively higher on Thursday, NBEV stock continued advancing its 12-day bull run. Will that continue into Friday’s session?
