If you’re looking for penny stocks to buy, you’re likely among the hundreds of traders looking for catalysts. These might come in the form of speculative rumors, SEC filings, or, in today’s case, press releases. They are one of the quickest ways to find out what’s going on “right now” with a public company. Unlike lengthy, drawn-out corporate filings, PRs tend to be a bit more straightforward in their wording and, in many cases, can be the main source of bullish or bearish volatility. News headlines hit the PR wires daily and at all hours of a session.
In this article, we look at a handful of penny stocks jumping higher after their latest updates. While some are following certain trends like the latest “investigating naked short selling” news that we’ve seen from a few very low-priced stocks, others are releasing updates on major company milestones. The important thing to keep in mind is that there’s a shelf-life to press releases.
When you’re talking about penny stocks specifically, that shelf-life can be short-lived at times. The bottom line? If you’re using news as your means of finding names to add to your list of penny stocks, it doesn’t hurt to observe other trends in the market, like volume, short interest, and other aspects, to formulate a real strategy for trading.
Penny Stocks To Watch With Big News
RYVYL Inc. (NASDAQ: RVYL)
Last week Genius Group LTD (NYSEAMERICAN: GNS) announced plans to “address illegal short selling” of its stock. A mix of bullish speculation, higher short interest, low prices, and a lower float combined into a perfect storm for a big move over the course of just a few days. However, the main point of focus were those “illegal short selling” headlines. Believe it or not, it’s becoming a trend this month, and many companies that have seen their share prices implode are jumping on the bandwagon.
RYVYL is the latest to follow suit. Shares of the sub-$1 stock surged after the company posted its first update of 2023. The company “joined the fight against naked short selling,” as noted by its news headline. The company even went as far as citing Genius, applauding its efforts.
“RYVYL is taking the principle of protecting shareholders seriously. The Company applauds efforts made in recent days by the Genius Group Limited and is taking steps to follow the same efforts in order to investigate, identify and work with regulators to prosecute any naked short violators trading in RYVYL stock. Additional information will follow as appropriate.”
RVYL stock has also made a strong move at the beginning of the year on the back of the latest uptrend in crypto prices. RYVYL specializes in payment transactions leveraged by blockchain technology and USD-pegged stablecoin technology. Regardless, this week’s move stems from the latest trend in “illegal short-selling stocks” to watch. If some of these names are on your watch list, the risk comes when the outcome of these investigations is revealed. As we’ve seen with stocks that follow speculative trends, the market can quickly shift course in either direction.
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Intelligent Bio Solutions (INBS)
One of the penny stocks under $1 that isn’t focused on “naked short selling” headlines this week is Intelligent Bio Solutions. The company announced on Monday that it reached a key milestone in its biosensor platform development. Specifically, it completed review of the results from “Milestone 7,” which showed 4x improvement in time-to-result that allows the biosensor to reveal test results in less than one minute.
“These Milestone 7 results highlight important improvements achieved during the ongoing development of the biosensor platform technology. We expect these enhancements will help accelerate our planned work on future biomarker targets for hormones, allergens, and cancers,” added Professor Paul Dastoor, Director, of the Center for Organic Electronics at the University of Newcastle, Australia.
Other than this news, something else that traders are focused on is the INBS float. With fewer than 20 million shares showing, INBS stock has been brought into the fold of low-float penny stocks to watch. Similar to short-squeeze stocks and other quickly fluctuating shares, low-float stocks can be extremely volatile. It may be worth noting if INBS stock is on your watch list this week.
TScan Therapeutics (TCRX)
Shares of TScan Therapeutics experienced some of the highest volumes in months. The biotech company develops T-Cell receptor therapies for treating cancer. This week the company announced FDA-related headlines that have prompted some stronger momentum.
TScan announced that the FDA cleared its investigational new drug applications for multiple platforms. These included TScan’s T-Plex, TSC-204-A0201, and TSC-204-C0702. CEO David P. Southwell explained, “Today marks the first three IND clearances for our solid tumor program and further validates the use of our proprietary platform to identify therapeutic TCRs suitable for clinical development. With the FDA clearance of T-Plex, along with two MAGE-targeting TCRs, we are now one step closer to bringing bespoke cell therapies to patients. We are continuing to build our ImmunoBank, with four more IND filings anticipated in 2023.”
The news comes just a few weeks after TScan’s progress update for 2023. In it, the company highlighted several initiatives for the year. Some of the more near-term included these three INDs as well as plans to obtain preliminary clinical data for its most advanced T-Cell receptors by the end of the year.
BiondVax Pharmaceuticals (BVXV)
Immunotherapy company BiondVax made headlines this week, which prompted a strong move during premarket trading on Monday. Additional results came out regarding preclinical proof-of-concept in a study of its inhaled NanoAb Covid drug. The study focused on weight loss in two groups of animals. Those administered with NanoAb experienced “no significant weight loss” during the trial. The untreated group saw a weight decline at an average of 12%.
“There is strong market demand for COVID prophylactics as evidenced by AstraZeneca’s reported Q1 through Q3 2022 EVUSHELD revenues of $1.5 billion 1. EVUSHELD is currently the only prophylactic COVID medication with FDA approval, under emergency use authorization. Our inhaled NanoAb is designed to be self-administered at the time of choosing to generate rapid protection from COVID illness.”
Amir Reichman, BiondVax’s CEO
BiondVax anticipates more milestones later this year. One of these includes a first-in-human Phase 1/2a clinical trial.
Tritium DCFC Limited (DCFC)
If DCFC stock seems familiar, it’s likely because you read articles on PennyStocks.com. Last week we discussed the company in our article “5 Penny Stocks To Watch After Big News This Week.”
Coincidentally, the company has been in the news on multiple occasions. Last week it announced that it secured its largest order in company history on Tuesday. The order came from BP (NYSE:BP) in its efforts to accelerate the deployment of EV chargers. This BP news wasn’t the only driver in the stock market today. Tritium also gave preliminary 2022 performance expectations. These included sales anticipated between $95 million and $102 million. It’s also expecting fiscal 2023 sales in excess of $200 million.
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This week Tritium reported that it delivered its first fast chargers to evyve for a planned 10,000 charger network. evyve is a UK charging network, and the two entered into an agreement that makes Tritium the preferred charging provider. The initial order is for 350 chargers, with projections of installing 10,000 by 2030.
In conjunction with last week’s update, DCFC stock could be on the watch list for traders this week.
List Of Penny Stocks To Watch
- RYVYL Inc. (NASDAQ: RVYL)
- Intelligent Bio Solutions (NASDAQ: INBS)
- TScan Therapeutics (NASDAQ: TCRX)
- BiondVax Pharmaceuticals (NASDAQ: BVXV)
- Tritium DCFC Limited (NASDAQ: DCFC)
