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Best Penny Stocks to Watch Before The Holidays?

Are These The Best Penny Stocks To Watch Before December 10?

Finding the best penny stocks isn’t an easy task. Because these cheap stocks move so quickly, it can be hard at times to stay ahead of a trend. Additionally, it’s important to understand these trends, in general. Take, for instance, marijuana penny stocks. The cannabis industry as a whole is very speculative in nature.

Even if you think you’ve “timed” a trade perfectly, you should also be aware of what’s going on within the sector itself. In this example, we saw, first-hand, that just because a penny stocks’ chart may appear attractive, one bad piece of industry news could send the entire sector into a tailspin.

top penny stocks to watch today

This year, marijuana stocks demonstrated that to perfection. Similarly, biotech penny stocks can also follow suit. This past weekend and during the first part of this week, there are several biotech-focused conferences underway. Since some of these conferences are related to companies targeting a specific disease, one good piece of promising news can act as a sector catalyst.

No matter your strategy, it’s important to understand that penny stocks can shift at the drop of a hat, which makes them risky. These stocks are well known for their volatility and hence, picking the wrong stock or sector can create losses pretty quickly. That being said, sound research should help investors in making the right choices. Here is a look at three penny stocks that investors are watching closely this week. But are they the best penny stocks to watch before Tuesday’s opening bell?

Penny Stocks To Watch #1 Soligenix Inc

One of the penny stocks that made significant gains over the past week is the Soligenix, Inc (SNGX Stock Report) stock. Last SNGX stock had gained as much as 23% over a positive development with regards to its Cutaneous T-cell Lymphoma product SGX301. The company announced that it has successfully completed patient enrollment for the Phase 3 clinical study of the treatment.

This phase 3 study is one of the most crucial ones for the company. Essentially, the completion of enrollment is a positive development for Soligenix as well as for its investors. The news broke on December 3 and since then SNGX stock has experienced a steady rise.

[Read More] Is Sprint Corporation (S) At Risk Of Becoming A Penny Stock?

Since last week, shares have jumped over 25% on the back of this news. Furthermore, with data expected in the first quarter of 2020, it may be a name to take note of considering the late phase study that Soligenix is currently in. As to whether it’s one of the penny stocks to watch before tomorrow’s open, shares consolidated on Monday. The company saw its stock dip from Friday’s high of $1.22 to lows of $1.15 before power hour.

penny stocks to watch Soligenix (SNGX)Penny Stocks To Watch #2 Kadmon Holdings

The other penny stock that made impressive gains recently is Kadmon Holdings Inc (KDMN Stock Report). For the better part of the second half of this year, KDMN stock has rallied. Toward the end of June, shares double-bottomed around $1.635 and haven’t looked back since.

As of this week, the biotech stock managed to reach highs of $4.95 on a near 6-month rally of over 200%. The company recently announced that it is going to release updated data from the Phase 2 study of its product KD025 at an important industry event. That seems to have helped the penny stock continue its bullish move.

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The therapy in question is used for the treatment of chronic graft-versus-host disease (cGVHD). Kadmon announced that the data is going to be presented at the 61st American Society of Hematology (ASH) Meeting. As we discussed over the weekend, many small-cap biotech stocks are slated for presentations and have seen favorable responses in the market.

In fact, all of the companies mentioned in “Penny Stocks On Robinhood To Watch This Week Presenting Key Data,” attended the conference. In light of these developments, the same held true for Kadmon on Monda. Can this same momentum carry through the rest of the week?

penny stocks to watch Kadmon Holdings (KDMN)Penny Stocks To Watch #3 Bloom Energy

Bloom Energy Corp (BE Stock Report) rounds out this short list of penny stocks. BE stock has performed admirably this quarter so far. The first few quarters of the year saw the stock trading above $10 but it ended up plummeting in August. The fall didn’t end there either. Shares tumbled even further to lows of $2.44 during the early part of the 4th quarter.

However, new collaborations and corporate progress may have helped boost sentiment around the stock. In its third quarter, Bloom generated $233.5 million in revenues and beat analysts’ estimates of $231 million. In addition to that, the company also generated EBITDA of $40.8 million, which reflects a year on year rise of as much as 170%.

But as you’ll see, shares of BE stock have declined slightly from previous quarterly highs. Though these levels are still above its October lows, can it maintain through the week?

penny stocks to watch Bloom Energy (BE)
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