Are These 7 Penny Stocks Worth Buying the Dip?
Right now, penny stocks and the entire stock market are seeing a correction. This is natural with penny stocks and even more natural with blue chips. It doesn’t make sense to assume that stocks can continue to climb in the way that they have been over the past six months, continuously. Rather, we need to have periods of decline for values to increase once again.
And while your portfolio like many others, may be in the red right now, it could be time to buy penny stocks on the dip. This is a timeless and classic strategy that has paid off for many over the years.
And while buying penny stocks right now may be the last thing you want to do, it could be worth making a penny stocks watchlist for the coming future. Now, with such a long list of penny stocks, there’re bound to be a few options of interest.[Read More] 4 Hot Reopening Penny Stocks That You Need to Know About
Additionally, crypto news such as bitcoin falling below $40,000 and other major cryptocurrencies also dropping, has sparked an equally bearish rally with penny stocks.
So while this may not be the best news, every move that the market makes could be room for opportunity. Considering this, are these seven penny stocks worth buying the dip with crypto news in focus?
7 Penny Stocks to Watch Right Now
- Aerpio Pharmaceuticals Inc. (NASDAQ: ARPO)
- Senseonics Holdings Inc. (NASDAQ: SENS)
- Atossa Therapeutics Inc. (NASDAQ: ATOS)
- Northwest Biotherapeutics Inc. (OTC: NWBO)
- China Xiangtai Food Co., Ltd. (NASDAQ: PLIN)
- Ideanomics Inc. (NASDAQ: IDEX)
- Globalstar Inc. (NYSE: GSAT)
1. Aerpio Pharmaceuticals Inc. (NASDAQ: ARPO)
This first biotech penny stock, Aerpio Pharmaceuticals Inc., has been increasing in market value this week. But what does Aerpio do? This company develops and commercializes compounds that treat ocular disease and vascular stabilization.
One of its lead products is razuprotafib, which is a small molecule inhibitor of vascular endothelial protein tyrosine phosphatase to treat non-proliferative diabetic retinopathy.
On May 17th, the company released its first-quarter 2021 financial results. Its cash and cash equivalents fell from $42.6 million to $39 million quarter over quarter. Its operating expenses increased by around 36.7% as well. These negative numbers did not seem to affect ARPO stock price. This is because of an announced reverse merger agreement with Aadi Bioscience on the same date.
The company moving forward will operate under the Aadi Bioscience name and focus on advancing the company’s lead candidate, Fyarrotm (ABI-009). Aerpio has entered a PIPE financing of $155 million lead by Acuta Capital Partners, and other institutional investors. The net proceeds are expected to fund the company into 2024. Following the announcement, ARPO shares have increased by more than 16%.
Aerpio’s Razuprotafib candidate can help fight blood vessel dysfunction in COVID-19 patients. This newly released data is also promoting a boost in ARPO stock price. The company stated, “Our findings provide a novel rationale for current trials of Tie2 activating therapy with AKB-9778 in severe COVID-19 disease.” With all of this in mind, will ARPO make your list of penny stocks to watch?
2. Senseonics Holdings Inc. (NYSE: SENS)
Senseonics Holdings Inc. is a biotech penny stock that develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes in the United States, Europe, the Middle East, and Africa. Its products include Eversense, is an implantable CGM system to measure glucose levels in diabetic people via an under-the-skin sensor.[Read More] Retail Penny Stocks on Robinhood That Could Benefit From Reopening
SENS stock is up after reporting its first-quarter 2021 financial results. It announced revenue of $2.85 million driven by European sales. The company also announced that its FDA review for Eversense resumed in mid-April with the assignment of a lead reviewer to the 180-day PMA supplement application.
“We are very pleased with our start to 2021 including the transfer of worldwide Eversense commercial activity to Ascensia. In the U.S. there are now 25 sales representatives trained and actively calling on existing Eversense accounts and targeting top insulin prescribers to further drive adoption of our CGM system.”The CEO of Senseonics, Tim Goodnow
While the company did report a first-quarter loss, it beat revenue estimates from several analysts including Zacks. Its first-quarter 2021 gross profit increased by $20.16 million years over year as well. With all of this in mind, will this make it on to your list of biotech penny stocks to watch?
3. Atossa Therapeutics Inc. (NASDAQ: ATOS)
Now let’s talk about Atossa Therapeutics Inc., the next biotech penny stock on this list. This is a biopharmaceutical company that discovers and develops medicines in the niche of oncology and infectious diseases. One of its main programs is Endoxifen, is an active metabolite of tamoxifen in use to treat and prevent breast cancer.
Currently, Endoxifen is in Phase II clinical trials for several of its compounds. It is also developing AT-301 which is a drug candidate for nasal administration in patients with COVID-19. Hand in hand with this project is AT-H201 which is a drug candidate to improve lung function in COVID-19 patients.
Due to its involvement with treating COVID-19 patients, the company has experienced recent large growth. Just a few days ago on May 14th, Atossa announced its first-quarter 2021 financial results as well as a corporate update.
It announced that its Phase II study of Endoxifen can be administered in the “window of opportunity” between diagnosis of breast cancer and surgery based on positive results. Now the company has received a “Safe to Proceed” letter under the expanded access pathway from the FDA to begin treatment with Endoxifen.
For its AT-301 nasal spray to treat COVID-19 patients, it has announced the final results from the Phase I clinical study. It was considered to be safe and well-tolerated in both male and female participants in the 14-day study.
Currently, it is being developed for home use. In regards to the future, President and CEO Steven Quay said, “We are diligently moving our existing programs forward, while actively exploring the possibility for strategic expansion into other areas where we might see near-term milestones and results.” Will you add ATOS stock to your watchlist?
4. Northwest Biotherapeutics Inc. (OTC: NWBO)
Northwest Biotherapeutics is a biotech penny stock that develops personalized immune therapies to treat cancer. The company’s products are being developed in the United States and internationally at the moment.
Its products are developed on the DCVax platform technology which uses activated dendritic cells to mobilize a patient’s immune system to fight cancer. Its lead project, DCVax-L is in Phase III clinical trials to treat Glioblastoma multiforme brain cancer.
About one week ago on May 12th, Northwest released updates from its DCVax as well as the Phase III trial of DCVax-L. For DCVax, an application for certification of the manufacturing facility in Sawston, United Kingdom has been submitted to the Medicines and Healthcare Products Regulatory Agency (MHRA).[Read More] 5 Penny Stocks To Watch Right Now That Analysts Are Bullish On
The company stated that its Phase III trial is moving forward, and is in review and analyzation via independent statisticians and experts. The company is preparing for a public announcement and scientific publication soon. It states that it cannot make partial disclosures or comment on the trial status until the results announcement. With all of this in mind, will NWBO stock make it to your watchlist as it moves up more than 21% in the last week?
5. China Xiangtai Food Co., Ltd. (NASDAQ: PLIN)
China Xiangtai Food Co., Ltd. is a food processing company that engages in slaughtering, processing, packing, distribution, wholesale, and retail of various meat products. These products include pork, beef, lamb, chicken, duck, and rabbit meat. It also provides sausage, bacon, canned meat, and ground pork.
There is no company-specific news that is increasing the stock price of PLIN. Despite this, PLIN is a company that has frequently been mentioned on various subreddits. Reddit penny stocks have been very popular in 2021 with the growing investor community on the website. Could this be the reason that PLIN stock is growing in value?
This is inconclusive, but it is a possible reason for the company’s recent positive performance. At the same time, increased reopening and food sales in China could also be contributing to this company’s stock price increasing by more than 10% on May 18th. Is PLIN a company that will make your penny stock watchlist?
6. Ideanomics Inc. (NASDAQ: IDEX)
This next penny stock to watch is Ideanomics Inc. This company is focusing on the adoption of commercial electric vehicles, energy consumption, and financial services. It offers solutions for the procurement, financing, charging, and energy management needed for fleet operators to adopt electric vehicle technology.
Shares of IDEX stock are moving after the company reported its first-quarter 2021 financial results on May 17th. The company’s revenue for the quarter was $32.7 million which was very positive news. This company seems to be transforming quickly with each quarter that comes around.
This quarter marks the fifth consecutive quarter of growth for Ideanomics. Its gross profit for the first quarter of 2021 was $10.8 million, compared to $44,000 in 2020. The growth of this company has attracted a lot of new investors, bringing IDEX stock up along the way.[Read More] 3 Hot Penny Stocks To Buy With Analysts Expecting Up To 383%
The company stated that in addition to all of this, “Timios, our title & escrow business generated revenues of $27.6 million and WAVE revenues of $1.8 million, reported in the charging & batteries line in the revenue table. Both of these businesses were acquired in the first quarter and consequently, their financial results are only included from the date of acquisition. Revenue from Electric Vehicles was $3.0 million up from just $55,000 in the first quarter of 2020.”
Will Ideanomics make it to your list of penny stocks to watch based on all of this information?
7. Globalstar Inc. (NYSE: GSAT)
Globalstar Inc. is a tech penny stock that provides mobile satellite services all around the world. It’s duplex two-way voice and data products, including mobile voice and data satellite communications services, are used for remote business continuity, recreational use, and emergency use. Its SPOT retail consumer products give rural villages and ships data modem services and equipment.
Since its first-quarter earnings results were put out on May 6th, this company’s stock value has increased tremendously. The company has made significant strides recently with new deals.
“Our Commercial IoT pipeline has grown meaningfully over the last several weeks, including a large opportunity, potentially north of 100,000 units that we are actively pursuing for remote monitoring in the alternative energy segment. If we secure it, this deployment would drive significant efficiencies in the customer’s operations and could serve as a catalyst for similar use cases in the future.”The CEO of Globalstar Inc., Dave Kagan
Its total revenue for the first quarter of this year decreased 16% year over year, but there is a reason for this. This is due to its engineering services revenue being lower as a result of Covid-19 in that time frame. It did see an increase in revenue from subscriber equipment sales in the period.
Investors seem to have a lot of faith in GSAT stock, as it has increased by more than 15% since it released this quarterly report. With this new information in mind, will you add GSAT stock to your penny stock watchlist?
Are These 7 Penny Stocks Worth It?
At the end of the day, finding the best penny stocks to watch is up to you and your strategy. While now may be a hard time to be investing in penny stocks, every movement in the market creates an opportunity to capitalize upon.[Read More] Penny Stocks Watchlists and How to Make One
So, considering this, the options for investors are almost endless. And, with so many penny stocks to buy right now despite the market showing its bearish teeth, investors need to do the proper due diligence to find the best ones for them. Considering this, are these seven penny stocks worth it?