If you’re looking to make money in the stock market before the new year, you’ve got your work cut out for you. With broader indexes swaying, is there any place to find opportunity? In my opinion, if you understand how to handle a bit more risk and have a keen understanding of how to day trade, penny stocks have been one of the stand-outs lately.
Forget looking at ETFs like the Russell 2000 Small-Cap ETF (NYSE: IWM). That has been used as a benchmark for penny stocks at times. But if you look at the list of top 10 holdings in the ETF, the closest thing to a penny stock is AMC Entertainment (NYSE: AMC), and that’s only because it was one of the stocks under $5 earlier this year. In most cases, cheap stocks move without influence from the broader markets. Today, we look at three of them that gained noticeable ground this week.
Penny Stocks To Watch Right Now
- DatChat Inc. (NASDAQ: DATS)
- Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
- Infinity Pharmaceuticals Inc. (NASDAQ: INFI)
1. DatChat Inc. (NASDAQ: DATS)
Ever since its IPO, DatChat has been on our list of penny stocks to watch. The company kicked off its public debut trading under $4 per share, and within about a month, it managed to reach highs of $18.50. Thanks to the launch and popularity of alternative social platforms like Truth Social and Rumble, the market has looked for other “social” platforms besides Facebook, Twitter, WhatsApp, etc.
DatChat has built a platform that involves blockchain, cybersecurity, and social media. Users can delete messages and posts to protect themselves from anyone taking a screenshot of them before getting deleted. The launch of DatChat’s new reward program, as well as some attention from a popular sports entertainment brand, have put DATS stock back in the spotlight.
As far as the reward program is concerned, DatChat released its Nirad Points Rewards Program. According to the company, “Using a “Proof of Participation” protocol, users can earn NRD Points through active participation on the DatChat Social Network+ platform, including creating an account, daily login, adding friends, allowing advertisements, and growing your DatChat network. NRD Points may be used for premium services, upgrades, and eCommerce on the DatChat Social Network+ platform.” – Read More About NRD Points Here
Initiatives like this and the company’s social communication platform have garnered the attention of companies like Barstool Sports. In a Tweet earlier this week, the popular media outlet sent a Tweet mentioning DatChat’s handle and the caption “Next time use the @datchatapp, and it’s message destruction feature,” with a download link. Barstool and DatChat agreed to a multi-channel marketing campaign in October.
2. Petros Pharmaceuticals Inc. (NASDAQ: PTPI)
Another one of the penny stocks on our list frequently is Petros Pharmaceuticals. The topic of discussion has helped give it some extension in the market (no pun intended). That’s due, in part, to news from earlier this month after the company reported sales growth of its STENDRA tablets. This was thanks, in part, to its digital health marketing agreement with Hims & Hers Health Inc. (NASDAQ: HIMS). The product is a treatment for erectile dysfunction.
Adding to this, Petros also reported progress this month with its over-the-counter draft label comprehension study results for STENDRA. According to the company, this was a crucial component in Petros’ plan to engage the FDA in expanding the product’s access through a potential OTC pathway.
While progress in the market is strong – PTPI stock is up over 100% in the last month – there are some things to consider. The foremost is a recent S-1 filing this week showing the potential resale by selling shareholders from time to time of up to 3,830,000 shares. See the full S-1 here.
3. Infinity Pharmaceuticals Inc. (NASDAQ: INFI)
While certain stocks waivered, Infinity continued its December climb. Since dipping to the $1.80 level, INFI stock has been in rally mode. Its focus has been on its eganelisib in treating advanced cancer, including triple-negative breast cancer. This month, part of the recent uptick in trading stemmed from new data in the company’s MARIO-3 trial, which was presented at the San Antonio Breast Cancer Symposium.
Among the results, the company found that 88.6% of evaluable patients achieved tumor reduction with a disease control rate of 92.8% and 81.4% of evaluable patients with PD-L1 positive and PD-L1 negative tumors, respectively.
“With a median duration of follow-up of almost 10 months, the durable clinical benefit seen with the eganelisib combination reinforces our vision of bringing better therapies to frontline TNBC patients. When compared to the IMpassion130 benchmark data, a 47% improvement in median PFS for patients with PD-L1 positive tumors and a 30% improvement in median PFS for patients with PD-L1 negative tumors provides consistent and compelling evidence of eganelisib’s potential to improve outcomes for these patients.”Adelene Perkins, Chief Executive Officer and Chair, Infinity Pharmaceuticals
Following these developments, Infinity Pharmaceuticals was added to the Nasdaq Biotechnology Index. This becomes effective next Monday. This seems to have also caught the attention of analysts. In particular, B. Riley raised its price target to $7 from $4. The firm currently has a Buy rating.
Which Penny Stocks Are On Your List Right Now?
Thanks to so much volatility in the stock market today, penny stocks have begun to shine a bit brighter. Heading into the end of the year, there are plenty of companies to watch. The first step in putting together a solid list is identifying opportunities and understanding what is driving the market moves.
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