Penny Stocks Under $1
Thanks to much more volatility in the stock market right now, traders are hunting for risk-on stocks. There are no more risky than penny stocks, and in this world of extremely cheap stocks, even a few pennies could mean the difference between a 5% and 50% move. This article will discuss a handful that can be bought for under $1 and is a continuation of the article “Good Penny Stocks To Buy Now? 7 Under $1 To Watch This Week.”
Best Penny Stocks To Buy Now
Does this mean it’s time to dive directly into cheap stocks? No, and just because there are penny stocks under $1, it doesn’t necessarily mean to throw caution to the wind. No matter the price of penny stocks, whether 5 cents or $5, finding “the best” involves research & a game plan. Today we look at several turning heads in the stock market this week.
We’ll also include a complete list of 10 penny stocks that can be bought for pennies on the dollar. Ultimately, you can decide whether they’re the “best penny stocks to buy” or if they should be avoided entirely.
[Read More] Will Snap Inc. (SNAP) Be On Your List Of Penny Stocks In 2022?Matinas BioPharma Holdings (MTNB)
Biotech stocks have grown in popularity, and Matinas BioPharma stock has moved with that trend. Since late September, MTNB stock has managed to bounce from around 60 cents to highs of $0.82 this week.
Part of this move can be attributed to the attention Matinas received following its latest series or presentation. It was at IDWeek this week and will be at ThinkEquity’s Global Investment Conference next week. Some focus is on Matinas’ MAT2203 platform, which is preparing for a Phase 3 registration trial next quarter. The company also has MAT2501 in its pipeline to treat bacterial infections, which is currently in Phase 1 trials.
Three presentations at ID week on MAT2203 seem to have sparked some attention in MTNB stock. On top of that, the company also announced positive interim data from its Phase 2 EnACT trial in treating cryptococcal meningitis. In response to the data, Jerome D. Jabbour, Chief Executive Officer of Matinas, said, “MAT2203 performed extremely well in EnACT, with an unprecedented 90% survival of patients in Cohorts 2 and 4. The survival rates seen throughout this trial provide tremendous enthusiasm and confidence as we head into our Phase 3 program, which stands to benefit from a flexible, FDA-reviewed design which we believe significantly de-risks this later stage clinical program.”
With this going on and another event planned next week, MTNB could be one of the penny stocks under $1 to watch before November.
Altamira Therapeutics (CYTO)
Altimira has been in a boring sideways trend for weeks. This month, however, the penny stock has begun waking up a bit thanks to several key milestones. Initially, it announced that its NASAR clinical trial with Altamira’s Bentrio nasal spray had restarted enrollment of participants in Australia. Bentrio is being developed for allergic rhinitis.
[Read More] 10 Top Penny Stocks To Buy According To Wall Street Analysts In 2022This week the company participated in the RNA Leaders USA Congress, introducing Altamira’s flagship platforms. Its OligoPhore/SemaPhore delivery platform was debuted, and aspects and advantages of siRNA therapeutics were addressed to differentiate Altamira’s technology. The presentation came at a time when the company also announced the divestiture of its inner ear development assets, which brought in millions in cash to the company. There is also potential for milestone payments and royalties down the road.
Thomas Meyer, Altamira Therapeutics’ founder, Chairman, and CEO explained, “While there is a high unmet need and great potential for innovative treatments in inner ear disorders, we consider the future development of our programs in this therapeutic area to be better placed with a different type of owner. We are glad to hand them over to a long-term oriented family office that has a strong entrepreneurial spirit and is passionate about developing effective and safe treatments for common health problems like tinnitus, hearing loss and vertigo.”
With these latest developments, CYTO stock has come into focus. As with any stocks that gap in short timeframes, profit-taking can pose a risk. Whether or not that comes into play with CYTO this week is yet to be seen, but worth noting.
Borqs Technologies Inc. (BRQS)
The technology company, Borqs has been in and out of favor with retail traders over the last several weeks. Despite its low price, it isn’t uncommon to see BRQS stock experience short-term gains. To its benefit, Borqs has exposure to multiple areas of the technology industry, including communications, the Internet of Things, and even clean energy.
This week the company reported its first-half financial results, which seem to have piqued traders’ interest. Not only did it issue revenue guidance – something that Snap Inc. missed the memo on – it also reported significant revenue growth and backlog from its energy subsidiary.
Borqs reached $30.1 million in revenue for the year’s first half. This was over 140% higher than the same period last year. It’s also forecasting $50-$55 million in revenue for the year, which would be 60% year-over-year growth.
Pat Chan, CEO of Borqs Technologies, commented, “It has also been exciting to see our Holu Hou Energy subsidiary’s progress as it has been completing solar plus energy storage projects during the first half of year in the state of Hawaii…By the first half of 2022, we have achieved more than $50M backlog of orders. We anticipate the backlog will continue to grow in the second half of this year.”
With this backdrop, BRQS stock popped back above $0.80 on Friday.
List Of Penny Stocks Under $1 To Watch This Week
Today’s article looked at four more penny stocks under $1 to watch this week and is a continuation of our article “Good Penny Stocks To Buy Now? 7 Under $1 To Watch This Week.” For the full details, check out the update, and for the complete list, the names are included below:
- Matinas BioPharma Holdings (NYSEAMERICAN: MTNB)
- Altamira Therapeutics (NASDAQ: CYTO)
- Borqs Technologies Inc. (NASDAQ: BRQS)
- Cosmos Holdings (NASDAQ: COSM)
- AnPac Bio-Medical Science Co. (NASDAQ: ANPC)
- Adamis Pharmaceuticals (NASDAQ: ADMP)
- Corbus Pharmaceuticals (NASDAQ: CRBP)
- Oblong Inc. (NASDAQ: OBLG)
- Clever Leaves Holdings Inc. (NASDAQ: CLVR)
- Nutex Health Inc. (NASDAQ: NUTX)
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