Which Penny Stocks Are On Your List?
It is no surprise that during dark economic times, penny stocks have become rather popular. These low-cost stocks seem to be perfect for new investors that want to enter at a lower price or own more of a company. Penny stocks are generally assets that trade under the price of $5. Some of these assets are just worth, well, pennies. Many new investors have flocked to the stock market in 2020 with hopes of turning a profit. Well, penny stocks can go up 50% or more in a single day, while traditional large-cap stocks can move just 1-2% in a day.
That is what makes these cheap stocks so volatile, at the same time. While they can rapidly increase in stock price, they can also rapidly decrease in the stock price as well. So essentially, penny stocks can be high-risk high reward. With so many to choose from, many traders will start with making a list of penny stocks, first. Let’s look at a few penny stocks that have been trending in the market.
Penny Stocks To Watch: Walcott Resources Ltd.
First up on this list of penny stocks to watch is Walcott Resources Ltd. (OTC : WALRF Stock Report) (CSE : WAL). Walcott Resources is a mining company that holds land in various locations. It acquires, explores, and mines for precious metals and resources on its many properties. One of its main projects is the Tyr Project in Australia. While Australia, itself is one of the premier regions for silver production, this area, in particular, could present some potential for Walcott. Specifically, Walcott plans to re-open two historic silver mines with conservative inferred resource estimates and many high-grade surface mineral occurrences up to 4,710 grams per ton of silver (g/t Ag).
On October 22nd, Walcott Resources appointed a new CEO and company director. The company stated that David Thornley-Hall has taken the role of CEO, and is noted as being a “seasoned executive with a background in management, finance, and corporate development with public companies in the resource sector”.
In other recent news, Walcott Resources closed the acquisition of 60% 1256714 B.C. Ltd. The company has a 100% interest in both the Tyr Silver Project and the Century South Silver-Zinc Project. Walcott now has 60% of the outstanding shares of the target company in consideration for issuing 15 million common shares.
As precious metals prices remain in focus, small-cap mining stocks could be on the radar at the end of 2020. There are still plenty of fiscals policies adding to diluted values of the USD. Furthermore, silver also has applications for industrial use as well. Will WALRF stock be on your watch list at the top of next week? It’s traded in Canada for the last few months and has just begun seeing momentum in the U.S.
Penny Stocks To Watch: Invesco Mortgage Capital Inc.
Next up on this list of top volume penny stocks to watch is Invesco Mortgage Capital Inc. (IVR Stock Report). Invesco Mortgage Capital is a real estate investment trust (REIT) that has a primary focus on investing, financing and managing residential and commercial mortgage-backed securities, as well as other mortgage assets. It also invests in residential mortgage-backed securities, commercial mortgage-backed securities guaranteed by a US government agency or federally chartered corporation. Now let’s look into why Invesco Mortgage Capital Inc. is trending and has a high volume.
Investors seem to believe in IVR stock on October 23rd. It climbed just over 2% and its volume is much higher than normal. Earlier this week, momentum began building after the comapny’s latest update. Invesco announced that it will release its third quarter financial results for 2020 on Monday, November 9th. This will take place before 7 AM via conference call and audio webcast. After the call, a presentation will be available on its website. It seems like investors are expected good results, as IVR stock is up very much on the day of October 23rd. Time will tell what these results have in store.
As the mortgage market remains a volatile space, it will be interesting to see how IVR stock reacts. Aside from earnings, there are plenty of market catalysts that could trigger volatility for stocks in this space. But based on the latest surge in momentum on Friday, will IVR hit your watch list next week? Obviously, for those looking for more volatility, IVR hasn’t really been one of the high-flyers among stocks under $5. But it’s worth mentioning that the stock has climbed over 50% since its April lows.
Penny Stocks To Watch: Titan Pharmaceuticals Inc.
Titan Pharmaceuticals Inc. (TTNP Stock Report) is a pharmaceutical company with a focus on creating therapeutics for treating chronic diseases. On the 15th of September, the company announced that its Probuphine commercialization partner Molteni, entered an exclusive distribution deal with Accord Healthcare. The deal is to commercialize its Sixmo product for the European market.
More recently, Titan Pharmaceuticals provided a strategic and corporate update. In this, the company stated that it plans to restructure the company to focus on ProNeura based product development, a kappa opioid receptor agonist and nalmefene. It will also be discontinuing the sale of its Probuphine in the United States, and wind down its commercialization activities.
In addition to this, the company will reduce its operating costs, complete negotiations with lenders to eliminate debt and make strategic senior management changes. Titan also entered a non-binding term sheet with JT pharma in October to acquire and develop JT-09 for use with its ProNeura technology.
While TTNP stock has been suppressed for weeks, the last three sessions have seen a noticeable rebound. Since Wednesday, shares have jumped from $0.12 to highs on Friday of $0.145. The big question now is can that continue in light of the recent downward strength this penny stock has seen recently?
Top Volume Penny Stocks To Watch: Cinedigm Corp.
The final company on this list of penny stocks to watch is Cinedigm Corp. (CIDM Stock Report). Cinedigm is an entertainment company that has a focus on digital movie streaming. Its products are distributed for entertainment platforms such as Hallmark, NFL, Televisa, and many more. It also helps market, source, and distribute content for other companies like Apple, Amazon Prime, Netflix, Xbox, and more. Let’s look at why this company is trending today.
On October 23rd, the Chairman and CEO of Cinedigm, Chris McGurk, detailed positive business developments at its annual stockholder meeting. It announced that it massively expanded its streaming business, established a “key strategic advantage in connected TV streaming” through deals with companies like Samsung, Roku, Vizio, and more. Its channel portfolio has increased by 238% in viewership to 15.2 million viewers.
In light of these latest developments, CIDM stock reversed its recent downtrend, on Friday. Shares reached highs of $0.583 during the regular market session. However, CIDM continued higher after the bell to $0.62. Will this be one of the names on your list of penny stocks Monday?