Buying penny stocks can be a high-risk endeavor for any trader. However, the rewards can be sweet. Considering that you’ve got a lot of headwinds going into a trade, it’s important to research, first. It’s also important to outline the strategy that you initially want to use before you buy penny stocks. What I mean by this is are you looking for a quick day trade or looking to swing trade penny stocks. You don’t have to just focus on one or the other. However, each trade may be different.
If you see a chart that looks like a flatline for weeks on end without any volume, then sees a massive spike, your first instinct may be to day trade. This is simply based on short term volatility in response to some catalyst you should identify. On the flip-side, if you look to buy penny stocks with more consistent uptrends in price and consistency in volume, it may be set for a swing trade. In either case, keep the basic risks of penny stocks in mind: dilution risk, headline risk, and general market risk.
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Regardless of the risks, we know you can make plenty of money with penny stocks. Just don’t forget that’s what you’re here for. Learning how to sell is a very real topic some traders need to understand. For example, earlier this week, we saw SPI stock explode from under $1 to over $46. Do you think that type of move is sustainable? No, so then in understanding that, the preparation would be for a pullback at some point.Penny Stocks To Watch Right Now
Instead of waiting for that to happen, smart traders took profits along the way. Some even bought, sold, bought, sold, then bought again, scaling in and out of the trade all day. The differentiating factor between making money and not with SPI stock was managing risk. With this in mind, here’s a quick list of penny stocks hitting a stride this year. Will they be the top ones to continue to buy or should you avoid them at all costs?Penny Stocks To Buy [or avoid]: Boxlight Corporation
Boxlight Corporation (BOXL Stock Report) has fluctuated for weeks following its big move in July. The company’s main focus has been on virtual education. This week BOXL stock is back in the spotlight, somewhat, after its latest update. The company announced an acquisition of Sahara Presentation Systems PLC. Sahara focuses on distributed and manufactured AV solutions.
“This is an exciting time for the Sahara business, which is trading extremely well, even in the current climate. We welcome the added leadership and solutions from Boxlight as we aim to accelerate our growth in key markets around the world,” stated Kevin Batley, Director at Sahara.
On July 12th we started to follow this company as attention focused on eLearning. This year Boxlight released its MimioConnect. This is the company’s cloud-based teaching and learning platform that helps teachers streamline lesson delivery in remote and blended classrooms.
This latest update comes on the heels of Boxlight’s news of another acquisition this week. It was of three LAN based screen sharing patents and one pending patent application from Circle Technology, Inc. The acquired intellectual property portfolio will increase Boxlight’s protections around its education software solutions in a time when the adoption of one-to-one student devices is an industry-standard. Since the start of the year, BOXL stock is up 47% to date.Penny Stocks To Buy [or avoid]: AIM ImmunoTech Inc.
AIM ImmunoTech Inc. (AIM Stock Report) is another one fo the penny stocks that experienced a bit of above-average volume on Friday. However, most of that came during the second half of the session. Over the past few weeks, AIM stock has been in recovery mode after a drawn-out, month-long downtrend in August. Since September 4th, AIM has managed to mount a recovery, following the trend of its 200 Day Moving Average for the most part.
Since the company has become one of the biotech penny stocks to watch recently. AIM was working for a COVID-19 treatment. But instead of a broad application, the company focused on applying it to a patient set that aligned with its current pipeline treatments. Specifically, the company was looking for an effect on certain cancer patients with COVID-19.
However, the recent excitement stems more from its traditional, non-COVID pipeline treatments. This week AIM announced a key piece of data. The company reported that it received statistically significant positive pancreatic cancer survival results from a multi-year Early Access Program. It was conducted at Erasmus University Medical Center.
What was reported was that there was “statistically significantly positive survival benefit when using Ampligen in patients with locally advanced/metastatic pancreatic cancer after systemic chemotherapy.” Ampligen is one of the company’s flagship products used for anti-viral and anti-cancer applications. Since the beginning of the year, AIM stock is up 280% to date.Penny Stocks To Buy [or avoid]: Evogene Ltd.
Evogene Ltd. (EVGN Stock Report) has been on fire this quarter. Since July 1st, EVGN stock has climbed nearly 300%. While this surge has been significant, September has been one of the most active months for this biotech penny stock. Evogene is a computational biology company. The company built the Computational Predictive Biology (CPB) platform. This CPB platform computationally discovers and develops life-science products based on microbes. It has also been categorized by some as a potential marijuana penny stock to watch. But, generally speaking, medical cannabis appears to be one of many different facets of Evogene’s platform.
During September alone, EVGN stock has climbed as much as 84% on the heels of key milestones. We’ve gotten to see this move, first-hand. The initial spark came right before the company began presenting at investor conferences in August. Then Evogene came to an agreement with ARK Investment Management, LLC and Alpha Capital Anstalt. The two would invest a total of $10 million into the company via this deal. Since then, shares have rapidly climbed. That has compounded following the update that its subsidiary, Biomica, reported positive pre-clinical results in its immuno-oncology study of the company’s BMC128 drug candidate. BMC128 is designed to treat the immune system with anti-tumor properties.
“We believe these results indicate that live biotherapeutic drugs may potentially be used as a stand-alone priming therapy or as combination therapy with ICI in order to improve the response of cancer patients. We look forward to providing incremental updates as we work towards first-in-man proof-of-concept clinical trials.”Dr. Elran Haber, CEO of Biomica
Since the start of the year, EVGN stock is up 143%.