Penny Stocks To Add To This Week’s Watch List
When trading penny stocks, it is possible to make a large number of gains in just a few days. While traditional large-cap stocks can sometimes move less than 1% in a day, it is a different story with penny stocks. Some of these low-cost stocks can gain or lose more than 50% in a single day. These stocks are considered highly volatile assets because of this. But if these assets are highly volatile, then what attracts investors to them?
Well, penny stocks are defined as stocks trading under $5. This price point allows investors to either own more of a company or enter the market at a lower cost. Additionally, it allows investors to do both of these, but one is more appealing to a seasoned trader, while the other may appeal more to new investors.
Read More
- Are These The Best Penny Stocks To Buy Right Now After Tesla Earnings?
- 3 Penny Stocks to Buy Under $3 Right Now; Are They Worth It?
If you want to invest in penny stocks, you should never accept a company for its face value. Always do research and look into the news, volume, recent charts, and more if you plan on investing. Now let’s take a look at some penny stocks that have been performing well this week with strong volume and trading momentum. Will they be at the top of your watch list on Thursday?
Top Penny Stocks To Watch: GT Biopharma Inc.
Shares of GT Biopharma Inc. (GTBP Stock Report) took off on Wednesday following 1 in a series of several key updates within the past few weeks. The company announces the publication of “NK-Cell-Mediated Targeting of Various Solid Tumors Using a B7-H3 Tri-Specific Killer Engager In Vitro and In Vivo” in the journal Cancers, volume 12, issue 9, page 2659; (https://doi. org/10.3390/cancers12092659). B7-H3 is highly expressed on the surface of several types of cancer and exhibits low expression on normal tissues.
“The findings presented indicate that a B7H3-targeted TriKE™ has the potential to enhance natural killer (NK) cell immunotherapy in solid tumor settings, and supports its further clinical development.”
GT Biopharma has continued expanding on its TriKE™ treatment platform. It has been evaluated in ovarian, breast, prostate, pancreatic ductal adenocarcinoma and lung cancer models. The company also recently brought on new Advisory Board members to help expand the therapeutic indications for TriKE ™ to non-hematologic cancers such as prostate.
What’s more, is that GT Biopharma recently announced results in a dose level 3 patient in its current Phase I/II trials of GTB-3550. This is the company’s lead treatment for acute myeloid leukemia built on the TriKE™ framework. Results demonstrated a favorable response from the treatment. As a result, GT also said the patient will be re-treated with an additional round of GTB-3550 therapy at the 25mcg/kg/day dose.
GTBP stock surged late in the afternoon on Wednesday testing, once again, its $0.25 level. Will that remain resistance or can GTBP stock manage to make new highs before next month after this latest round of news?
Top Penny Stocks To Watch: Canaan Inc.
Canaan Inc. (CAN Stock Report) is another one of the technology penny stocks to watch right now. It had a big surge in volume and price on Wednesday. Furthermore, during the after-market session, CAN stock continued showing strength and reached highs of $2.36 after the bell. One thing to note here is that there’s been a momentum trend among China-based companies this week. We saw big breakouts (and breakdowns) from stocks like KXIN, WEI, and most recently, LYL.
Canaan develops supercomputing chips and manufactures digital blockchain computing equipment. It also supplies the overall scheme for computer software and hardware of digital blockchain. Aside from this Chinese penny stock trend, we’ve also seen an increase of interest in blockchain penny stocks. Marathon Patent Group (MARA Stock Report), for instance, has been on our list of hot penny stocks to watch recently. The company focuses on mining cryptocurrency.
[Read More] Making A List Of Penny Stocks To Buy? 4 Names To Know Right Now
With increasingly high tensions both nationally and globally along with highly volatile fiat currencies, cryptocurrencies like Bitcoin have begun to climb in value. In fact, over the last 30 days, the price of Bitcoin has climbed from around $10,200 to nearly $13,000 this week. One thing we can say is that when crypto rises, so does the attention on things like digital mining and blockchain penny stocks. Whether or not this is the case with Canaan is yet to be seen. However, it isn’t an unlikely instance to see some sympathy trading going on for stocks in this niche.
Top Penny Stocks To Watch: Teligent Inc.
Teligent Inc. (TLGT Stock Report) is another one of the penny stocks gapping up after the closing bell on Wednesday. There weren’t any company headlines to go along with the move. So the search is on for a potential catalyst. We already know that biotech penny stocks are hot right now but is that the reason TLGT stock jumped from $1.05 at the close to $1.30 in after-hours trading?
It looks like this could be one of the speculative penny stocks to watch and one with an event at 10 AM EST on Thursday. On October 22nd the company hosts a shareholder meeting to vote on whether or not it will remove restrictions on certain debt holders to hold a certain number of shares at one time. As the company stated, “It is in the Company’s and its stockholders’ interest to have the New 2023 Notes convertible into shares of the Company’s common stock without restriction because conversion into common stock will reduce the Company’s significant amount of indebtedness and interest expense.”
While Wednesday’s surge was impressive, we all know that this could pose a huge risk as well. That risk has everything to do with potential dilution. Again, we write on companies to cover the details so you can use that info in your diligence process. It isn’t to hype anyone up or distract from recent events. In this case, Thursday’s proxy vote could be interesting to say the least. Depending on the outcome, do you think TLGT stock will experience more volatility? Needless to say, you’ve got to consider multiple scenarios in this sense. So if TLGT stock is on your watch list right now, keep that in mind.
Top Penny Stocks To Watch: Timber Pharmaceuticals Inc.
The final company on this list of penny stocks to watch is Timber Pharmaceuticals Inc. (TMBR Stock Report). Timber is a pharmaceutical company that focuses on medical dermatology. It will develop and commercialize various treatments for orphan dermatologic diseases. The company was founded just last year, and has already made some great advancements. The company’s current focus has been on its BPX-01 and BPX-04 products.
[Read More] Should You Invest In Penny Stocks Right Now? These 4 Hit It Big
On September 15th, the company received notice of allowance from the US patent and trademark office for both BPX-01 and BPX-04. John Koconis, the CEO of Timber says that this will help “further protect our dermatology portfolio”. This secures its method for treating an active dermatological inflammation or infection by applying the topical compositions to an inflamed or infected area of skin once a daily for a period of at least one month. BPX-01 and BPX-04 are designed for treating active dermatological inflammation or infection, including acne or rosacea.
On October 21st, TMBR stock price is up 34.51% to $1.52 a share. Furthermore, it saw one of its highest share volume days all year. Without any headlines or apparent catalysts, what could have been driving this latest trend? Keep in mind that this is a lower float penny stock so volatility could become a factor if trading volume continues at this rate. Will TMBR stock be on your watch list as well, this week?
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).
