Why Should You Pay Attention to These Penny Stocks Right Now?
When it comes to penny stocks, finding the biggest gainers of the day can be a good step in the right direction. This allows investors to see what type of momentum a penny stock has. In addition, it can help to identify any major moves made by a company in the short term. Of course, we have to consider that just because a penny stock shoots up in value, does not mean it will continue to do so. To narrow down our list of penny stocks to watch, we also have to do the research.
With the internet at our fingertips, finding penny stocks and researching them is easier than ever before. When looking for penny stocks to watch, the first step is to identify where value may be hiding. This could be an industry or a specific company in mind. Next, investors should look at the data including average volume, price in the short and long term, and a company’s financials. This can help to determine if a penny stock is a winner or not.
Lastly, we have to work on building out what a company will look like in the future. This can be done by utilizing press releases or other data that comes right from the source. With this information, investors can begin to build a broad picture of a penny stock at a glance. From here, it’ll be much easier to feel confident in one’s list of penny stocks to watch. With all of this in mind, here are five penny stocks that shot up by over 5% during trading on November 19th.
Top Penny Stocks To Watch Before Next Week
- GT Biopharma Inc. (GTBP Stock Report)
- Adomani Inc. (ADOM Stock Report)
- Affimed N.V. (AFMD Stock Report)
- Vaalco Energy Inc. (EGY Stock Report)
- NovaBay Pharmaceuticals Inc. (NBY Stock Report)
Penny Stocks To Watch #1: GT Biopharma Inc.
GT Biopharma Inc. has been one of the active biotech penny stocks to watch this quarter. What began toward the end of September has culminated into a momentum fueled move that has seen highs of $0.25 at some points. This week was the most active week of the month for GT Biopharma and it was full of big updates. The main focus of the company appears to have been on leadership and building out its team. Not only did the company Announce a new Vice Chairman of the board, Bruce Wendel, but it also appointed a new CFO and added another board member today. Each hold experience at leading biotech companies prior to joining GT Biopharma. They are alumni from companies like Abraxis, Celgene, Iovance, and even Bristol-Myers Squibb.
These new team members are coming on board GT Biopharma at a pivotal point in time ahead of it delivering interim Phase trial results at an upcoming industry conference. The company’s GTB-3550 is its lead treatment candidate for acute myeloid leukemia. It’s also shown favorable results through its latest Dose level 3 portion. What’s more is that the company has further expanded the treatment platform that GTB-3550 is created from. The company’s TriKE platform is designed to harness and enhance the cancer killing abilities of a patient’s immune system natural killer cells.
What’s more is that TriKE™ has been evaluated in ovarian, breast, prostate, pancreatic ductal adenocarcinoma and lung cancer models. According to GT Biopharma, it demonstrated a significant reduction in tumor burden in animal models. It also boosted overall survival in animal models of solid tumor cancers.
Penny Stocks to Watch #2: Adomani Inc.
Adomani Inc. is considered to be an EV penny stock currently working out of the U.S. The company states that it is a provider of zero-emission electric vehicles that can be used in commercial fleets. In addition, the company manufactures powertrains that can adapt to a wide range of existing cars. Adomani has stated that it has the goal of reshaping the way car ownership works as well as embarking on producing a zero-emission auto infrastructure. Recently, the company announced its Q3 2020 results for the period ending on September 30th. In the results, the company stated that its sales came in at $164,000 for the quarter.
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While this may not seem like much, we have to account for the fact that the company is still very much in its R&D phase in addition to being struck by Covid-19. Interestingly enough, the company was able to drop its administrative expenses from $1.6 million in Q3 2019 to $972,000 in this quarter.
In the same quarter, net operating expenses came in at $1 million and $3.6 million for the three and nine-month periods ending on September 30th. On November 19th, shares of ADOM stock jumped by a staggering 46% to $0.37 by end of day. In the past six months, shares of ADOM stock are up by over 300%. With this bullish momentum in mind, ADOM stock could continue to be a penny stock to watch.
Penny Stocks to Watch #3: Affimed N.V.
Affimed N.V. is another big gainer on November 19th, pulling in 8% in gains by EOD. One of the main reasons for this bullish jump was the company’s announcement the completion of its Innate Cell Engager candidate known as AFM13. This substance is used in combination with an anti-PD-1 therapy that is known as Keytruda (pembrolizumab).
CMO of Affimed, Andreas Harstrick, stated that “we showed for the first time that the combination of an ICE with a PD-1 checkpoint inhibitor can be safely administered with manageable side effects. The high objective response rate and complete response rate seen in this proof-of-concept study of AFM13 combined with Keytruda are very encouraging and indicate that the activation of innate immunity could improve upon current therapies.”
For those who don’t know, AFM13 is in studies for its use as a treatment to Hodgkins Lymphoma. As a clinical stage biopharmaceutical company, Affimed M.D. has received a lot of attention since the start of the Covid pandemic. With several treatments in its pipeline, it looks like Affimed has a lot going for it in the long term. All things considered, investors can decide if Affimed N.V. is the right penny stock to watch.
Penny Stocks to Watch4: Vaalco Energy Inc.
Vaalco Energy Inc. is an independent energy company working on the production, development and exploration of assets around West Africa. The company currently holds a 31% interest in the Etame Marin Block. This is an offshore oil production facility that has produced more than 117 million barrels of crude to date. During the beginning of November, the company announced its Q3 2020 results. In the results, the company showed that out produced 4,405 net revenue interest barrels of crude oil per day. Within the same quarter, the company sold more than 412,000 barrels of oil which is almost double what it sold in the same quarter of the previous year.
In addition, the company was able to decrease its production expense per unit by 35% over the same quarter of 2019. Additionally, Vaalco Energy Inc. posted a net income of $7.6 million with an adjusted EBITDA of $7 million. Lastly, the company was able to post a cash balance of $42 million which puts it in a very advantageous position. With oil consumption ramping up as vaccine hopes are high, Vaalco Energy looks like it has a unique positionally in the energy industry.
Penny Stocks to Watch #5: NovaBay Pharmaceuticals Inc.
NovaBay Pharmaceuticals Inc. is a biopharmaceutical company working on the development and commercialization of anti-infective products. This includes its Avenova system, which allows for the cleansing and removal of foreign matter from the eye. During the trading day, shares of NBY stock shot up by 11.1% including after-hours trading on November 19th. The main catalyst behind this came as President-Elect Joe Biden mentioned the potential of a nationwide mask mandate. Because NovaBay is a producer of masks, the company saw some large bullish momentum following Biden’s remarks. After the announcement, shares of NBY stock briefly shot up by almost 18%.
In other news, on November 12th, NovaBay reported its Q3 2020 results. Within the results, revenue shot up by 34% over the same quarter of the previous year. In addition, the company ended the quarter with more than $13.4 million in cash.
Justin Hall, CEO of NovaBay Pharmaceuticals stated that “this is an exceptionally exciting time at NovaBay as Avenova unit sales set a new quarterly record and we prepare for the consumer launch of CelleRx Clinical Reset into the beauty market.” With all of this exciting news going for it, NBY stock looks like it could be considered a penny stock to watch.