best penny stocks to watch right now

3 Penny Stocks To Look At Over The Weekend

We finally made it to the weekend. But that doesn’t mean penny stocks aren’t on everyone’s mind right now. After the monster week we saw last week with small-caps taking charge, there are plenty of investors looking for the next round of penny stocks to buy in June. It’s important to remember your goals and understand that you’re here to make money.

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Coronavirus headlines will likely remain a focus for a while. With the U.S. economy slowly opening we can also look to related industries for an opportunity. So over the weekend try to think outside the box a bit. What sectors might benefit from the economy reopening and people being able to live a bit more freely?

Obviously, retail might be a place to look. Of course, biotech remains a key sector and depending on what happens over the weekend with OPEC+, oil and gas penny stocks could be a target of optimism in June. As we’ve already seen OPEC and allied nations extended the nearly 10 million barrel per day oil output cut by a month. However, danger still looms for the oil market. Compliance with the output deal remains spotty as countries lift business lockdowns imposed to combat the pandemic.

A few sectors that have underperformed recently include certain on-demand tech and safe havens like gold. Needless to say, we’ll probably have much more data to go off of come Monday morning. But for now, based on what we do know, there may be a few penny stocks to watch over the weekend based on recent market action at the end of the week.

Retail Penny Stocks To Watch: Party City (NYSE: PRTY)

It’s no secret. The brick-and-mortar retail industry has gotten hurt badly this year. Not only are we seeing bankruptcies but we’ve also seen companies go out of business entirely. Weathering this storm has been vital. So far Party City (PRTY Stock Report) has managed to toe the line and avoid the “B” word so far.

A few weeks back we speculated on the fact that whispers of the economy reopening sooner could benefit companies like Party City. At the time PRTY stock was trading around $0.80 and the company had filed a disclosure statement to approve a reverse stock split among other things.

However, since then, a number of consumer discretionary stocks have continued to surge higher. PRTY stock is now up more than 100% since our update and tested 3-month highs on June 5th. While the company hasn’t reported any news thus far, sector momentum might have had a hand in this latest move.

What you need to know right now if PRTY is on your list of penny stocks right now is earnings are expected soon. The company will report a week from today (on June 12th) before the market open. So as speculation could be a driver, if earnings come out negative or positive, there may be another potential catalyst ahead. Feel free to comment your expectations below.

penny stocks to watch right now Party City (NYSE: PRTY)

Biotech Penny Stocks To Watch

No doubt biotech penny stocks will remain on the watch list. That true especially considering there are still no vaccines or treatments for COVID-19 yet. On top of that, we obviously have countless other diseases that companies are working to address. Given that, there’s probably no end to the time where there wouldn’t be at least a few biotech penny stocks to watch. Here are some trending into the weekend.

Biocept Inc. (NASDAQ: BIOC)

Shares of Biocept Inc. (BIOC Stock Report) have seen more interest at the end of the week this week. On Thursday we talked about an apparent change to one of the company’s webpages as it related to COVID-19 testing.

It’s important to keep in mind that BIOC broke out big earlier this year due to an apparent mix up with publishing a web page before it was ready. That page revealed the intent to start doing COVID testing. This week it appears that attention on social media is focusing on a page that has shown the company is affirming that it is performing COVID-19 testing.

On Friday the company came out with a formal update. Albeit one that didn’t appear to be a major headline but news all the same. The company said that it is relocating its corporate offices and CLIA-certified, CAP-accredited high complexity laboratory to a new location in San Diego. The move is expected to be completed by 2020 year-end.

[Read More] Top Penny Stocks On Robinhood & WeBull To Watch Right Now

“This location is well-suited to meet our commercial, development and administrative needs and aligns with our strategy of supporting growth while reducing rent expense and other facility costs,” said Tim Kennedy, CFO and Senior Vice President of Operations of Biocept. Shares of BIOC stock jumped after hours on Friday so it will be interesting to see if that can continue at the top of the week next week.

penny stocks to watch right now Biocept Inc. (NASDAQ;BIOC)


Finally, AIM Immunotech Inc. (AIM Stock Report) has remained one of the top penny stocks to watch this year. If you remember from back in late-January, AIM stock was one of the early “coronavirus penny stocks” to watch. At the time, the company was discussing how its flagship drug was being studied in 6 immuno-oncology clinical trials.

Then COVID-19 hit and it was a mad dash for biotech companies to transition pipelines to address coronavirus. AIM stock was trading around $0.80 and we were able to watch it climb as high as $7.11 within just months of COVID-19 descending upon the stock market. Of course, profit-taking took hold and AIM dipped back down. However, it was able to uphold a relative level of support around $2.

So what’s happened recently that puts attention on AIM stock in June? In its last update, AIM ImmunoTech announced that the U.S. FDA authorized the first human trial assessing the safety and effectiveness of the company’s lead asset, Ampligen (rintatolimod). This would be in combination with interferon alfa-2b, in cancer patients with COVID-19. So, while it still managed to focus on the foremost target, cancer, AIM also found a way to apply it to cancer and COVID-19 as well.

On June 1, 2020, AIM entered into a Material Transfer and Research Agreement with the University of Rochester. The company will provide the University with Ampligen and the University plans to conduct a series of in vitro experiments. It will test the direct antiviral activity and mechanism of action of Ampligen on SARS-CoV-2. While this was not on the company’s newsfeed, it was found in its most recent disclosure statements amid AIM filings. The 8K filed on June 5th could have shed some light on the next steps for AIM and its lead therapy. Will that help things in the coming week? We’ll see what happens come Monday morning.

penny stocks to watch right now AIM Immunotech (NASDAQ:AIM)

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