Are These High Volume Penny Stocks On Your Watch List This Week?
In the past few months, an extensive range of penny stocks has continued seeing bullish sentiment. This seems to be characteristic of the current state of the stock market. As virus cases decline in the U.S., more and more investors are feeling confident about the future of the market. While we still have a long way to go before everything is back to normal, it does look retail traders have piled in. There is definitely a lot of bullish sentiment right now. But investors still need to keep their trading strategies intact. With all of the hype driving some of these stocks, it’s not hard to get caught up in the emotional side of trading.
With this, investors should consider the current events that are going on in the world and how they may affect a given market. For example, Covid has heightened momentum for tech companies, as more people are at home than ever before using technology for shopping, entertainment, etc.
You’ve also got biotech taking center stage. What began as attention on vaccine stocks has bloomed into a more generalized search for volatile biotechnology names. As you begin to see, everything in the market has a cause and effect. And if we can figure out what causes are occurring, the chances of seeing profitability could be higher. So with all this in mind, let’s take a look at some penny stocks with high volume right now.
High Volume Penny Stocks to Watch
- Guardion Health Sciences Inc. (NASDAQ: GHSI)
- Inuvo Inc. (NYSE: INUV)
- Tyme Technologies Inc. (NASDAQ: TYME)
Guardion Health Sciences Inc.
Guardion Health Sciences Inc. is a penny stock that we’ve been covering for quite some time. For those who don’t know, the company has an extensive range of proprietary technologies, including evidence-based products and innovative medical foods that can boost eye health. A little over a month ago, Guardion announced the appointment of the seasoned professional Bret Scholtes as its new President and CEO. This is a big deal for the company and could determine the path it takes moving forward.
Robert Weingarten, the Chairman of the board, stated that “we are delighted to welcome Bret to Guardion Health Sciences. We believe that his proven business acumen and extensive experience in the nutritional product industry will serve to usher Guardion into a new era of growth and success.”
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In addition to this, the company also recently announced that it had been granted an extension from the NASDAQ to get its minimum bid price back up to $1 by March 15th. At $1.05 per share as of midday on February 9th, it looks like GHSI could be well on the way to accomplishing this goal. Obviously, we have to consider that GHSI stock is quite volatile. But, the company does continue to reach new milestones this year.
Inuvo Inc. is a tech company that is seeing a lot of bullish interest in recent trading sessions. Specifically, Inuvo makes artificial intelligence-based products. These are used for marketing purposes. Its customer base includes agencies, advertisers, and others who wish to utilize AI to perform better consistently. During the pandemic, e-commerce and online advertising have shot up tremendously in popularity. With more people at home than ever before, companies are always looking for the best ways to push their products. Because of this, the tools that Inuvo Inc. offers seem to have an extensive customer base. Only a week ago, the company announced its preliminary financial results for the fourth quarter of 2020.
In the results, the company brought in roughly $44.6 million in revenue for the full year, with $12.9 of that coming from only the fourth quarter. Additionally, the company has continued to see a positive response from its IntentKey product. This is a patented, machine-learning technology that is in use to identify the intentions of consumers. Rich Howe, CEO of Inuvo, stated that “we continued to build momentum throughout 2020 after the initial decline experienced in the second quarter resulting from Covid-19. While the impacts of Covid-19 remain present within our industry, we would expect…to be back to normal within 2021.”
Obviously, the effects of Covid-19 are quite broad across a range of industries. But, Inuvo looks like it has managed to avoid many of the negative effects of the pandemic. If INUV is on your list of penny stocks, make sure to keep February 11th in mind. That is when the company is set to release its next round of earings for the 4th quarter and full year, 2020.
Tyme Technologies Inc.
One of the bigger gainers of the day so far is TYME stock. By midday, shares of TYME had shot up to around $3.23, representing a 22% gain for the day. This sizable gain comes as the company announced the closing of a stock offering of nearly 40 million shares. Usually, share prices tend to decline after a large offering is announced. This is due to the looming worry of stock dilution.
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In the short term, this is something to consider. However, Tyme does have a lot going for it, looking ahead. This offering could also help the company push forward with its TYME-19 therapy. For those who don’t know, this is a compound aimed at preventing Covid-19 infection. It could also have efficacy in preventing the growing number of new strains of the coronavirus, according to the company.
One thing to consider is that coronavirus penny stocks, as they’re known, are usually quite volatile. In addition, they tend to be highly correlated with the number of cases, and any news pertaining to the pandemic. So keep this in mind if TYME stock is on your watch list right now.