Penny Stocks Heating Up Scanners This Week As New Trends Take Hold
There’s no denying that 2021 has been a banner year already, and we’re only about a month in. So far, we’ve seen certain penny stocks break out thousands of percentage points. We’ve also seen a retail trader uprising akin to the movie “The 300” taking a stand against “the suits.” While you might think that would’ve taken a lot longer, we’re only into 2021 for a little over 4 weeks.
This time last year, we began seeing the early indications for the coronavirus. Uncertainty started sweeping the globe. Now, about a year later, we know how to combat COVID-19, vaccines are rolling out, and traders seem more bullish than ever on the markets.
What does this mean, though? There are several things to take into consideration. We don’t just have vaccines. We’ve also got a brand new president in the U.S. With that has come new proposals and legislation for energy and even healthcare. Clearly, however, there’s a much bigger catalyst in the stock market today.
That catalyst is retail trading. The healthy market for things like day trading has brought back volatility. This initially might not be thought of as a good thing for investors. But considering the source of this volatility (Reddit traders) believe that “stonks only go up,” it may have actually been a favorable catalyst for longs as well.
Now the search is on. Traders need to decide what penny stocks to buy today. Will they look for the top trending names? On the other hand, will they take time to uncover breaking news that could become the next big catalyst to spark a rally?
Penny Stocks To Watch Before Friday
- vTv Therapeutics Inc. (NASDAQ: VTVT)
- Zomedica Corp. (NYSE: ZOM)
- Intec Pharma (NASDAQ: NTEC)
- Tellurian Inc. (NASDAQ: TELL)
However, you decide to find penny stocks to buy, make sure you’ve got a good handle on the basics. Know how to day trade and make sure you’re taking profit along the way. Keeping this in mind, here’s a list of penny stocks that have begun trending this week.
vTv Therapeutics Inc.
vTv shares broke out big on Tuesday afternoon. Most of the session was quiet, but then attention began to focus on its recent patent-related update. Earlier this year, the USPTO site showed vTv’s patent for “Substituted fused imidazole derivatives, pharmaceuticals compositions, and methods of use thereof.” The disclosure also provided methods of treating diseases such as non-alcoholic steatohepatitis.
Aside from this, vTv may have benefited from a bit of sympathy momentum stemming from Cassava (NASDAQ: SAVA) stock today. In particular, the former penny stock skyrocketed on Tuesday after announcing positive results in its Alzheimer’s study. Cassava inadvertently triggered a rally in many stocks with exposure to Alzheimer’s treatments.
vTv falls right into this category as well. In December, you may remember that the company announced that its Phase 2 Elevage study of vTv’s azeliragon Alzheimer’s treatment missed its primary objective. Needless to say, the company came out and explained that it would continue to analyze data to determine if there are potential benefits or future applications for azeliragon in Alzheimer’s, dementia, or related indications.
Aside from a few industry presentations, not much has been reported on by the company. In light of that, is there something else to pay attention to with VTVT, or is this going to be a short-lived sympathy move?
Zomedica Corp. (ZOM)
One of the cult-like stocks to watch this year has been Zomedica. The veterinary diagnostic company has been in the spotlight frequently. It was also the center of attention when Tiger King star Carole Baskin mentioned the company & its product in a Cameo video. Since the beginning of the year, ZOM shares have managed to climb by more than 300% so far. Much of the excitement hinges on the company’s proposed commercial launch of its TRUFORMA™ product.
Due to the stock’s volatility recently, apps like Robinhood restricted access to buying shares of ZOM. It became 1 of more than just a handful, including GameStop, to have restrictions placed on it. However, most other brokers did not follow suit specifically on Zomedica &, for the most part, the penny stock has weathered the storm better than its peers on that 50-stock list.
What’s next for Zomedica? Traders have their eyes focused on March. This is when TRUFORMA™ is set to begin commercial sales. The company has also signed an agreement with Miller Veterinary Supply for the distribution of TRUFORMA™. Miller will be representing Zomedica in states ranging from Texas to Maine.
Intec Pharma Ltd. (NTEC)
Another healthcare stock to watch is Intec. The company develops drugs based on its Accordion Pill platform technology. It also has exposure to the budding cannabis industry as well. While the company isn’t growing and selling through a dispensary, it is focused on the health benefits of the plant. Late last year, Intec entered into a feasibility agreement with GW Research Limited, London, U.K., to explore using the Accordion Pill platform for an undisclosed research program. The company also has a research collaboration with Merck.
Unfortunately, both collaborations weren’t immediately expanded upon. However, it has been a point of interest for the markets over the last few months. Last week, Intracoastal Capital LLC reported a 6.3% stake in the company. We look for things like institutional interest to gauge market sentiment. This vote of confidence has been something that traders have circulated over the past several days.
Other than that, there haven’t been any other major headlines. Tuesday saw NTEC shares jump big on late-afternoon trading momentum. But without any apparent news or filings, is this sympathy momentum from the recent uptick in cannabis stocks?
Finally, Tellurian Inc. is one of the energy penny stocks to watch this month. Since the beginning of January, TELL shares have been on the rise. The stock jumped from around $1.30 to over $4 and currently sits above $3. One of the points of interest with this stock has been on Tellurian’s growth initiatives.
Specifically, bullish sentiment began building after its co-founder, and Executive chairman Charif Souki said the company is looking to begin construction on its $16.8 billion Driftwood liquefied natural gas (LNG) export project. The goal is to start it by summer. Because the current Administration seeks low to no emissions fuels, Tellurian could be in focus.
The Biden Administration has made this a clear goal. The long-term outlook for LNG could be much brighter than that of other fossil fuels. Comparatively speaking, its lower cost and lower emissions from a production and combustion standpoint.