best penny stocks to buy epicenter stock_

Are These Epicenter Penny Stocks On Your List This Week?

This week, penny stocks will certainly be on the watch list. But which sectors are you watching closely? Some may follow financials or consumer goods while others might focus on energy or biotech penny stocks. However, there’s one “sector” if you’d call it that, which encompasses several of the popular industries right now. Epicenter stocks are becoming more and more popular.

What are epicenter stocks or “reopening stocks”? The term was initially coined by market analyst and FundStrat Head of Research, Tom Lee this year. His take on these stocks is simple. Basically, epicenter stocks are ones that have taken the brunt of coronavirus selling pressure and could be positioned for bigger momentum once the economy starts to reopen. Lee said industrials, technology stocks, health care stocks, and energy stocks, for instance, could fall into this category. Essentially, you’re looking at some of the sectors that’ve either been beaten down and/or could benefit from the economy turning around.

Epicenter Stocks To Watch

  1. Hertz Global Holdings (NYSE:HTZ)
  2. Gevo, Inc. (NASDAQ:GEVO)
  3. Support.com (NASDAQ:SPRT)

This year we’ve seen plenty of big-name companies not only become penny stocks. Many have also gone into bankruptcy or even completely out of business. It’s one of those things where “the strong survive” and some of these epicenter penny stocks could be fresh on traders’ watch lists this week. The biggest question is whether or not they’ve become the best penny stocks to buy or not. Where do you stand?

Epicenter Penny Stocks To Buy [or avoid] #1: Hertz Global Holdings Inc

One of the famous or, infamous, industries to resemble the negative impact of coronavirus has been the travel industry. It doesn’t matter if it was airline stocks like American Airlines (AAL Stock Report), cruise stocks like Carnival (CCL Stock Report), or theme park stocks like Six Flags (SIX Stock Report). Anything involving close quarters and travel was hit hard by the pandemic.

One of the worst-hit were car rental stocks and Hertz Global Holdings Inc. (HTZ Stock Report) became a spotlight name. Following the exit of its largest shareholder, Carl Icahn, HTZ stock went into a further spiral.

Furthermore, the future of the company was unknown as it went into bankruptcy hearings. Following months of uncertainty, Hertz finally reported interim information to shed some light on all of these questions. Last week the company announced that it secured commitments for debtor-in-possession financing totaling $1.65 billion.

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It also filed a motion for approval of the financing by the U.S. Bankruptcy Court for the District of Delaware. Up to $800 million can be used for working capital and general purposes but the financing is still subject to final definitive documents. There’s a hearing scheduled for October 29, 2020. Given the sentiment in the market late last week, Hertz stock traders took this as a big positive with shares soaring to highs not seen since June. Given that this isn’t officially finalized yet, will HTZ stock be on your list of penny stocks to buy or avoid this week?

best epicenter penny stocks to buy sell avoid Hertz Global Holdings Inc. (HTZ stock chart)

Epicenter Penny Stocks To Buy [or avoid] #2: Gevo Inc.

Energy stocks have also been lumped into the epicenter stocks category. The recent trend, however, that involves Gevo Inc. (GEVO Stock Report) is one that has focused on alternative fuels. With the initial spark coming from Tesla’s Battery Day, shares of everything from solar stocks and EV penny stocks to alternative fuels stocks took off. In fact, that trend remained intact through the entirety of last week as well.

Aside from being one of the epicenter penny stocks, it’s also been considered one of the “ESG stocks” to watch. ESG stands for “Environmental, Social, and Governance.” The basic idea behind it is in support of companies that leave a positive impact on those specific areas of interest. How Gevo falls into the category has everything to do with its business model.

Gevo is a renewable chemicals and biofuels company developing and commercializing alternatives to petroleum-based products. What initially sparked interest recently was its deal with Trafigura. It brought Gevo “to over $1.5B of revenue in long-term contracts when added to the other contracts we have in place” according to the company. While GEVO stock has been incredibly volatile, the overall trend has been strongly upward. Since September 24th, shares have climbed from around $0.80 to a close on Friday of $1.22. With a continued focus on reopening and alternative energy, will this 1-2 punch spark a continuation in GEVO’s chart this week?

best epicenter penny stocks to buy sell avoid Gevo Inc. (GEVO stock chart)

Epicenter Penny Stocks To Buy [or avoid] #3: Support.com Inc.

Another one of the epicenter penny stocks we’ve watched for a while now is Support.com, Inc. (SPRT Stock Report). The company is in a unique situation especially when it comes to “the new normal” many are anticipating. Support.com provides cloud-based software and services enabling tech support for a digital world. Leading up to the Snowflake (SNOW Stock Report) IPO, SPRT stock was one of the cloud computing penny stocks to watch in light of a potential sympathy move stemming from Snowflake.

One of the specific speculative catalysts behind SPRT stock’s recent move is what these lockdowns have done for traditional brick-and-mortar as well as generally office-centric companies. Many are now connected more now in a virtual setting than they were in an office setting. The company’s live agents and self-support tools troubleshoot more than 10,000 technical support issues consumers and small businesses face on an ongoing basis. Support.com offers technical support solutions and digital support experiences to its customers.

[Read More] 4 Penny Stocks To Watch Under $4 In October 2020

Since announcing its second quarter results in August, the main point of focus for the company has been beefing up its executive leadership and board. Last week this continued with the appointments of a new CFO, CIO, and Chief Legal Officer.

Also, as far as those looking at the SPRT stock chart, you’ll see that shares have spiked this month. Since the beginning of October, the penny stocks has jumped from $1.78 to highs of $2.45 on Friday. Volume has also begun increasing. Will the “new normal” become a “new benefit” to the future of Support.com?

best epicenter penny stocks to buy sell avoid Support.com Inc. (SPRT stock chart)

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