Are These 3 Penny Stocks On Your Weekly Watch List?
Thursday’s brought a whole new round of penny stocks to watch. However, many of these stocks have remained in a bright spotlight all year. One of the biggest factors in penny stocks today is assessing consistency. This is especially true if you’ve got a day job to work. The ability to trade penny stocks, while valuable, can be somewhat of a chore if you can’t be by a trading screen all day.
That’s especially true if you’re talking about companies like SPI Energy (SPI Stock Report). If you remember, this former penny stock was a huge mover a few weeks ago. It initially broke out on upbeat sentiment that came from the energy sector. Clearly, you can see that 1-day spike resulted in a vacuum-like pullback in shares. Needless to say, SPI stock is taking off again after announcing electric vehicle-related news on Thursday.
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Whether or not this ends up forming a more consistent trend is yet to be seen. However, if you can sit by a screen all day, it may be difficult to monitor such a volatile stock. That isn’t necessarily an indication that you aren’t able to make money with penny stocks throughout the year. There are thousands of traders (even without the pandemic) who’ve had to split time between the stock market and a 9 to 5.
Investing vs Swing Trading vs Day Trading Penny Stocks
A key strategy many have undertaken is called swing trading. In this sense, traders will analyze longer-term trends on a stock chart as well as past and upcoming fundamental catalysts. The goal is still to profit but instead of buying and selling penny stocks in a single day, they enter a trade and hold shares for a longer period of time. This might entail a few days, weeks, or possibly months depending on the trend. However, if you’re holding shares for longer than 12 months, you’ve now become someone who’s invested in penny stocks.
Throughout the course of 2020, many stocks under $5 have graduated from these price levels. At the end of the day, even in light of the 1 day movers, there are plenty of penny stocks that’ve climbed significantly over the last 9.5 months. Several on this list have echoed this sentiment. Will they continue making new highs?
Penny Stocks To Watch #1: GT Biopharma Inc.
GT Biopharma Inc. (GTBP Stock Report) has been hitting the ground running in Q4. Really, the recent bout of momentum began at the end of September. However, on the whole, GTBP stock is up over 100% year-to-date. Much of the focus is on the company’s advancement in its GTB-3550 drug candidate for acute myeloid leukemia (AML) as well as the expansion of what GTB-3550 is built on; the company’s TriKE™ technology. What was so important at the end of September? GT Biopharma announced updated data from another Dose stage of its Phase I/II study of GTB-3550.
The results were very favorable based on the company’s report. Not only did the company observe a decrease in AML blast levels from 18% to 12% in the bone marrow, but the patient also showed improvement in marrow cellularity. What’s more is that on Thursday, GT Biopharma came out with another key update.
What To Watch With GT Biopharma
The company’s abstract “GTB-3550 TriKE™ for the Treatment of High-Risk Myelodysplastic Syndromes (MDS) and Refractory/Relapsed Acute Myeloid Leukemia (AML) Safely Drives Natural Killer (NK) Cell Proliferation At Initial Dose Cohorts” has been selected by the Program Committee for presentation in an Oral Session at the 62nd American Society of Hematology Annual Meeting and Exposition.
What’s more is Thursday’s release said, “In addition to the presentation, your abstract will also be published online in November supplemental issue of the journal Blood. First publication will be in the online ASH meeting program on November 5, 2020.”
If you remember last year, we discussed a number of companies presenting at the ASH meeting, ended up seeing momentum build. It’s important to note that all companies aren’t just showing up and presenting; they’re chosen. In GT’s case, its abstract was selected to be featured at this upcoming event in December.
What’s also important to note is that GT’s CEO Anthony Cataldo has a reputation for building biotechs. Just as one example, from February 2011 to June 2013 Mr. Cataldo served as Founder and Chairman & CEO of Iovance Biotherapeutics, Inc., (IOVA Stock Report). With positive Dose #3 data in tow and other key developments happening with TriKE™, can this year’s 100% uptrend continue throughout Q4?
Anavex Life Sciences Corp. (AVXL Stock Report) is one of the biotech penny stocks gapping up on Thursday morning. This is another example of one of the penny stocks in 2020 that’ve “gone the distance” so to speak. Since the start of the year, the company’s stock is up over 140% as of Thursday’s premarket highs.
One of the ongoing focuses for the market has been on the company’s broad drug pipeline. This includes ANAVEX®3-71 (AF710B) for neurodegenerative diseases as well as ANAVEX®2-73 (blarcamesine) for the treatment of Parkinson’s disease.
This week, the company came out with a big update on the latter. Anavex announced results from the proof of concept Phase 2 controlled trial evaluating the safety, tolerability, and efficacy of ANAVEX®2-73 (blarcamesine) in patients with Parkinson’s disease dementia. By the spike in momentum, you can see how the news was received by the market. Anavex reported that its treatment was safe and well-tolerated. Specifically, the company pointed out that the results of the study confirmed the precision medicine approach of targeting SIGMAR1 as a genetic biomarker of response to ANAVEX®2-73.
In response to these findings, Christopher U. Missling, PhD, President and Chief Executive Officer of Anavex said, “Our strategy to advance ANAVEX®2-73 (blarcamesine) with focus on Precision Medicine has been validated in this study of patients with significant cognitive impairment and we are looking forward to the next clinical data readout of ANAVEX®2-73 (blarcamesine) in Rett syndrome and Alzheimer’s disease, indications where cognitive impairment is also prevalent.”
Penny Stocks to Watch #3: AgEagle Aerial Systems Inc.
Aside from biotech penny stocks, tech stocks are also gaining a lot of attention this year. AgEagle Aerial Systems Inc. (UAVS Stock Report) has been on our radar for months now. In fact, when we first began looking at AgEagle this year, the company had just received a follow-on purchase order for commercial drone small package delivery vehicles. AgEagle’s main focus is on drone applications. It has ranged from agricultural to urban delivery and everything in between.
Since the FAA has been granting approvals for drone operations, companies within the space are gaining more attention. This includes Amazon was well as Alphabet-owned Wing, who previously won FAA approval for their drone delivery operations.
What To Watch With AgEagle Aerial Systems
This morning the company came out with drone-related headlines. AgEagle entered into a two-year exclusive contract manufacturing agreement with Valqari, LLC to produce Valqari’s Drone Delivery Station.
AgEagle CEO Michael Drozd stated, “Effective solutions for ground support, like Valqari’s Drone Delivery Station, will prove to be a vital, fundamental component of this new ecosystem, helping to ensure the promising potential of mainstream drone package delivery is fully realized.”
In addition to this, AgEagle has also made an equity investment into Valqari in an early-stage funding round. Will this trend continue through October as it has during the first 9.5 months of the year?
Pursuant to an agreement between Midam Ventures LLC and GT Biopharma (GTBP), GT Biopharma is required to pay $200,000 per month for 4 months of services, $400,000 of which has already been paid for 2 months of services (first and last month) for a period from September 22, 2020 to January 22, 2021. We may buy or sell additional shares of GT Biopharma (GTBP) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about GT Biopharma (GTBP).