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These 4 Penny Stocks Gained Momentum on Monday 

When it comes to making a list of penny stocks, finding trends plays a big role. Monday, December 28th was a solid day for penny stocks. During the trading day, we saw several industries push higher. These included biotech, tech, and more. So what’s the big reason that so many stocks under $5 jumped on Monday? Well, we can attribute it to several factors that are currently in play in the stock market.

For one, Donald Trump announced that he had signed the new COVID Stimulus bill, easing tensions surrounding when he would do so. With the passing of this bill, the government will be able to utilize funding in order to keep businesses open and the economy moving. In addition, Monday marks the start of a short week for the stock market before the New Year. Usually, around this time, market sentiment is bullish as investors are hopeful for the coming year. 

While COVID is still very much around, vaccine distribution is occurring on a widespread level which is good news for the stock market. Although it may take some time for the general public to get vaccinated, it is at least a step in the right direction. All of these factors are currently affecting the trajectory of the stock market. But with a new year on the horizon, the hopes are that the economy can continue to recover in the coming weeks. With that could come more positive sentiment for penny stocks as well. All things considered, here are four penny stocks to watch that gained momentum on Monday. Can that continue into year-end?

Penny Stocks to Watch: 9 Meters Biopharma Inc. 

9 Meters Biopharma Inc. (NMTR Stock Report) is as the name suggests, a biopharmaceutical company. On Monday, shares of NMTR stock shot up by around 5% by EOD. One of the main reasons for this was that a large number of biotech penny stocks shot up on Monday.

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On December 21st, the company stated that it entered into an agreement with the European Biomedical Research Institute of Salerno (EBRIS) to study its drug Larazotide. This drug is being evaluated for its efficacy in treating respiratory complications stemming from Covid. Because 9 Meters has a part in the COVD space, NMTR stock has seen a lot of momentum this year. In the announcement, the company stated that it will be working with the EBRIS to study how Larazotide works in those who may need it. 

CMO of 9 Meters Biopharma, Patrick Griffin, stated that “given the accumulating body of evidence regarding larazotide and its effects on both epithelial and endothelial tight junctions, coupled with our knowledge on the effect of the drug in multiple lung models, we are pleased to help EBRIS pursue a pathway that could provide the foundation for potentially ameliorating acute respiratory complications in virally infected patients.”

What’s more, is what was revealed after the market closed. A 13G filing showed Adage Capital Partners took a passive stake in the company. According to details of the filing, the firm holds 6.41% of NMTR. When institutions build positions in stocks it’s usually seen as a positive. Based on the latest reaction, that seems to have also been the case this week.

Penny Stocks to Watch 9 Meters Biopharma Inc NMTR Stock Report

Penny Stocks to Watch: Universal Security Instruments Inc. 

Universal Security Instruments Inc. (UUU Stock Report) is one of the biggest gainers of the day on December 28th. During the day and into after-hours, shares of UUU stock shot up by around 84%. In the past six months, that number jumps to around 305% counting Monday’s meteoric gain.

One of the recent developments that has been a source of focus for traders comes as DPW Holdings Inc. (DPW Stock Report) announced that it will purchase roughly 230,000 shares of UUU stock. This deal will come in at around $710,000. In addition, the deal gives DPW stock a 9.9% stake in UUU. Milton Ault, CEO of DPW Holdings Inc. stated that “we look forward to closing this transaction and believe there are opportunities for commercial and strategic alignment to create superior value for the Universal Security Instruments shareholders.”

For those who don’t know, UUU designs, markets, and distributes a wide range of security products. These products are made for use in the U.S. and many international markets. Its product pipeline includes alarms, door chimes, carbon monoxide alarms, and more. As you can see, these are products that are used daily when building or retrofitting homes. In addition, the aforementioned deal should help to give UUU an extra income source for the financing of orders and more product research. With this in mind, is UUU on your list of penny stocks to watch right now?

Penny Stocks to Watch Universal Security Instruments Inc UUU Stock

Penny Stocks to Watch: Biolase Inc. 

Biolase Inc. (BIOL Stock Report) is yet another penny stock that made big headway on Monday. On the 28th, shares of BIOL stock shot up by around 30% to end the day. In the past month, shares are up by around 60% which is no small sum. Biolase Inc. develops and manufactures laser systems for the dental industry.

These systems are used for a wide range of dental procedures including both complex and non-complex surgical applications. The company states that it has a large network of distributors that allow its products to be in many dental offices around the U.S. Last month, Biolase Inc. reported its Q3 2020 financial results for the period ending on September 30th. In the results, the company announced that it was able to decrease its operating expenses by around 24%. 

Additionally, the company stated that it raised around $18 million during the quarter through an equity financing deal. In the report, Biolase also discussed the fact that the dental industry has rebounded to around 80% of its pre-covid levels. CEO of Biolase, Todd Norbe, stated that “our significantly improved third quarter revenue was driven by several factors, including 95% of dental offices having reopened in the United States, dental procedure levels having reached 70-80% of their pre-covid-19 levels, and the fact that our product portfolio reduces the risk of infectious pathogens.”

Something to consider right now is that BIOL stock maintained its trend well into the post-market session. The penny stock reached highs of $0.59 on above-average volume. It could be something to keep in mind heading into the Tuesday session.

Penny Stocks to Watch Biolase Inc. (BIOL Stock Chart)

Penny Stocks to Watch: Guardion Health Sciences Inc. 

Guardion Health Sciences Inc. (GHSI Stock Report) may not have done well during the trading day on Monday, but after hours shares of GHSI stock shot up by around 21%. The company focuses on everything from nutrition products to medical foods and medical devices. Additionally, Guardion specializes in ocular health. On December 28th, the company appointed several new C-level individuals to its staff. This includes Bret Scholtes, who is the new CEO and President of the company. Scholtes has a long history of experience in the nutrition industry, including leading a team of 1,100 employees. 

[Read More] 4 Penny Stocks To Buy Under $1 Right Now

Scholtes stated that “I was immediately attracted to Guardion Health Sciences for its scientifically-proven nutritional products and medical foods, combined with a product line of evidence-based diagnostic technologies, which together provide an elegant combination of products and technologies that mirror what we have seen in other treatment areas covered by the pharmaceutical and diagnostic spaces.”

This is an exciting update for the company as it provides the potential that comes with new leadership. In addition, the public has turned its focus onto the importance of nutritional foods this year given the health impacts of the coronavirus. Whether or not that plays out in the price of GHSI stock remains to be seen. But with this in mind, GHSI could be another one of the penny stocks to watch this week.

Penny Stocks to Watch Guardion Health Sciences Inc GHSI Stock Chart

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