Generally speaking, penny stocks react with volatile moves especially in the presence of a catalyst. This could be something like news or maybe even a corporate filing. Then again, as we’ve seen with COVID-19, vaccine news, shutdowns, or even protests could act as additional catalysts for penny stocks. Recently, an uptick in earnings interest also has certain stocks on investors’ radars right now. This week we’ll see a number of tech companies report and depending on the outcome, that could trigger a surge for certain penny stocks.
One of the top ways of finding out a potential catalyst is in play: volume. But I’m not just talking about average volume, I’m talking about irregularly high volume. Sometimes this can come after rumors emerge. Other time, it may come with a formal announcement. Also, especially with penny stocks, it could also come during times that companies are being promoted.
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In any and all cases, knowing is half the battle as they say. Understanding why there’s a surge of trading activity is very important. While some stocks will rally strongly and create a bit of FOMO, if the catalyst is truly real, then there’s a good chance that the move can be one that sustains for longer than the time it takes to DD the penny stock. With this in mind, let’s take a look at some of the high volume penny stocks this month. Some are making new highs this week but will it continue for the rest of July?Penny Stocks To Watch: Bionano Genomics Inc.
Bionano Genomics Inc. (BNGO Stock Report) has been one of the higher volume penny stocks to watch recently. In fact, since the end of April, BNGO stock has seen its daily average volume picking up. Furthermore, during the last week, daily session volume has continued to increase to well-above-average volume. So what’s behind the recent boost?
It initially stemmed from the company’s launch of its largest study at the time. It targeted identifying certain substances related to resistance or sensitivity to COVID-19. Bionano’s main focus is its Saphyr system. This is a platform for ultra-sensitive and ultra-specific structural variation detection. It allows researchers and clinicians to speed up the search for new diagnostics and therapeutic targets.
This week, Bionano announced that a European consortium published the first paper on Bionano’s Saphyr genome imaging instrument. This was to investigate the performance of Bionano’s data in comparison to cytogenetic standard of care in constitutional or inherited genetic disorders. According to the company, this latest development “demonstrates Bionano’s continued progress on goal of Saphyr becoming the new standard of digital cytogenetic testing”.
According to Grand View Research, pharmacotherapies and personalized treatment options are recognized as the two most important strategies for achieving improved treatment outcomes. “With a shift toward personalized medicine, the use of molecular cytogenetic techniques is expected to grow lucratively throughout the forecast period (2018-2025).” With so much momentum, can this move in BNGO stock continue into August? Since early April, shares are up more than 200%.Penny Stocks To Watch: Oragenics Inc.
Oragenics Inc. (OGEN Stock Report) has been on the list of penny stocks to watch since February. Though it has seen some pops and drops, overall the trend has been bullish. In March 2020 Noachis Terra Inc., a wholly-owned subsidiary of Oragenics, acquired a non-exclusive license from the National Institutes of Health for its stabilized prefusion CoV-2 spike protein.
Since the end of the second quarter, however, daily volumes have seen a major uptick. Furthermore, OGEN stock has gone into overdrive during the month of July. Earlier this week shares reached a new 52-week high of $1.84. As we discussed previously, after big moves, it isn’t unlikely to see consolidation or profit-taking. Tuesday appears to have experienced just that. OGEN stock price dipped back to around $1.20 but on Wednesday, shares swiftly reversed course during premarket trading.
This came after the company’s latest news release. Oragenics announced that the National Institutes of Health created a stabilized pre-fusion spike protein (CoV-2 S-2P) licensed by the company has generated neutralizing antibodies in mice during immunization against SARS-CoV-2, the virus that causes COVID-19.
Alan Joslyn, Ph.D., President and Chief Executive Officer of Oragenicssaid, “We are particularly pleased to see a balanced Th1/Th2 response, which is one of the most critical parameters used to assess both safety and efficacy of this vaccine candidate. TerraCoV2 is currently undergoing development and we anticipate conducting Phase 1 human clinical studies in early 2021.”Penny Stocks To Watch: Genius Brands
Genius Brands (GNUS Stock Report) has been one of the biggest love/hate penny stocks to watch this year. When we first started following its developments, GNUS stock was trading around $0.36. Since then, many have watched as this company reached new milestones and climbed to highs of $11.73 at the start of June. A series of events eventually resulted in shares “coming back to earth” later in the month. However, GNUS stock continued maintaining levels of support much higher than where it traded in April.
There’ve been a few instances where GNUS stock saw a short-term jump. There’ve even been false pieces of information thrown around by unknown sources attempting to rebuild confidence in the market. But the company was diligent in clarifying that information publicly and in some cases, refuting it entirely. This week, however, Genius brands has seen a new spike of interest. This came after its latest update.
Following a series of recent news regarding the launch of the Kartoon Channel!, the creation of Stan Lee Universe – anchored by a global deal with Archie Comics – and the appointment of Michael Uslan as Head of Development for Stan Lee Universe, Genius Brands International, Inc. announced the signing of broadcast and digital platform deals for its Rainbow Rangers series with 9 networks.
The company said that Shanghai Senyu licensed the right for mainland China. It also signed international content deals with outlets in Poland, Isreal, and Croatia for its Llama Llama series starring Jennifer Garner. It also highlighted the upcoming Rainbow Rangers toy line release coming in August at Walmart. Will this be enough to spark a true reversal for GNUS stock or is it set to slide once again?