We’re now officially in a new month and penny stocks are at the top of the list. After growing interest reached a fever pitch last week, momentum has carried its way into Monday morning. Something that I’m sure is on investors’ minds right now is what will be the next name to breakout? While there’s no crystal ball, something to search for is a catalyst. This could be a technical set-up or, on the other hand, penny stock news.
Corporate updates have long-acted as triggers for momentum. That goes for both positive and negative momentum. This week, there’ve been more than a handful of companies reporting big updates. Specifically, on August 3rd, not only are coronavirus headlines still getting traders excited, new technology news has also sparked interest in sector stocks.
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Most trading platforms will have somewhere to access a newsfeed. You can further drill down by sector and industry as well. There are also ways to find penny stocks with news that are experiencing irregular trading activity. That is usually a good indication that the market is finding some importance with a specific headline. Heading into the new week, let’s take a look at a few penny stocks with news trading higher to kick-off August.Penny Stocks To Buy [or sell]: Bionano Genomics Inc.
Bionano Genomics Inc. (BNGO Stock Report) is no stranger to news catalysts. It has been a consistent focus since April 28th. We’ve seen BNGO stock rise from around $0.40 at that time to highs of $1.16 at the end of July.
Bionano’s Saphyr system is a platform for ultra-sensitive and ultra-specific structural variation detection. The company says that this enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets. It also allows them to streamline the study of changes in chromosomes.
The company’s seen a number of industry peers citing its Saphyr system’s benefits. Last month Bionano announced that a study published in the journal Nature* used Bionano’s genome imaging technology. It built reference-quality genomes of six bat species. The genomes provide evidence that bats can tolerate and survive viral infections much better than other mammals.
This week BNGO stock is back in focus after its latest update. The company announced the publication of the first study to utilize its Saphyr system analyzing structural variants in lung cancer and metastases. The study was published in Translational Lung Cancer Research by a team of scientists from Fudan University Shanghai Cancer Center and Shanghai Medical College. The study showed that Saphyr outperformed other methods.Penny Stocks To Buy [or sell]: Zovio
Zovio (ZVO Stock Report) continued its move from Friday as shares jumped higher on August 3rd. The company signed a definitive agreement to sell Ashford University to a newly formed non-profit that will bear the name of The University of Arizona Global Campus. According to its press release, Zovio will provide its education technology services under a long-term services agreement.
In addition to the agreement news, Zovio also reported second quarter 2020 results. Adjusted earnings per share came in at $0.24 with sales of $103.9 million beating analyst estimate of $93 million. The EPS beat was considerable as well. Analysts estimated the company would come in around $0.11 per share. That obviously doesn’t compare to the $0.24 reported. On top of this, during the same period last year, Zovio reported a diluted loss per share of $0.58. This year the company came in with a diluted income per share of $0.16.
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Andrew Clark, Founder, President and Chief Executive Officer was obviously proud of these results. He explained that, “The University of Arizona Global Campus, which will be powered by Zovio’s innovative solutions that personalize each student’s individual learning experience, will be a fully online university providing access to affordable high-quality higher education with flexible opportunities to students from diverse backgrounds to achieve their educational and life objectives.”Penny Stocks To Buy [or sell]: BioCryst Pharmaceuticals
Shares of BioCryst Pharmaceuticals (BCRX Stock Report) were also on the move higher Monday morning. It has been flirting with the $5 mark for months now, bouncing in and out of penny stock territory. Whether or not August marks the end of BCRX stock being considered a penny stock is to be seen. However, shares were jumping before the opening bell on Monday.
This came after BioCryst announced that the U.S. FDA granted Fast Track designation for its oral Factor D inhibitor, BCX9930. This is for the treatment of paroxysmal nocturnal hemoglobinuria. According to the FDA, the purpose of the Fast Track designation is to get important new drugs to the patient earlier by facilitating the development, and expediting the review, of drugs to treat serious conditions and fill an unmet medical need.
Biocryst stock has been on our list consistently since mid-November of 2019. While today’s FDA news deals with BCX9930, the company is also working on a potential COVID treatment. Its experimental drug, galidesivir is being tested for possible indications to suppress the effects of coronavirus. A Phase 1 trial to assess the safety, clinical impact, and antiviral effects of galidesivir in patients with COVID-19 is currently enrolling patients across multiple sites in Brazil.Penny Stocks To Buy [or sell]: Senmiao Technology Limited
Senmiao Technology Limited (AIHS Stock Report) has been a wild mover over the last few months. This company has been on the radar since late-February but made its biggest waves in July. AIHS stock has climbed to highs of $2.35 but those levels were definitely fleeting. As you’ll see, the penny stock slid back to prices well below $1. The drop came just after Senmiao reported that it received notice from Nasdaq for failing to maintain a minimum of $2,500,000 in stockholders’ equity.
This week, however, things appear to be back in motion after its latest update. Since Tesla made its historic stock price milestone, electric vehicle stocks have been a focus. There were plenty of EV penny stocks that have hit watch lists this year. This week’s news is related to that.
Specifically, the company announced a strategic cooperation agreement with Sichuan Hongyu Enterprise Management Co., Ltd. It is to facilitate the purchase of electric vehicles and cross-promote their brands, products, and services for a term of three years. The goal is to further expand its automobile transaction and related services business. AIHS stock price started climbing early on August 3rd as the news broke. Will this mark an official turn-around for Senmiao in the market?Penny Stocks To Buy [or sell]: Datasea Inc.
Datasea Inc. (DTSS Stock Report) is one of the low float penny stocks to watch on Monday. Shares started pushing higher during premarket after big news. You might be wondering why you’ve never heard of Datasea before. That’s likely because it barely trades. The biggest trading volume day of the year to date was around 5.6 million shares. Other than that, it typically trades less than 50,000 a day; some days even less than 10,000 shares. So you could say that this is a very thinly traded, illiquid penny stock.
Needless to say, shares of DTSS stock were very active on Monday. The company entered into an agreement with Beijing Tengyuejunjie Parking Management to install its proprietary and Control System in Nantaipingzhuang Beixiang. This is a residential community in the Chaoyang District of Beijing. What’s interesting, however, is the press release lists the total value of this engagement over the three-year term at “RMB [55,000] or approximately $[7,800]”. Could all of this excitement stem fro ma $7,800 deal? Was it a typo? So far no updates have come out related to edits or a follow-up.
Regardless, DTSS stock is flying on Monday. Datasea’s proprietary system was developed specifically to monitor potential public healthcare threats within schools and public communities. The system facilitates contactless body temperature measurement and uses artificial intelligence-based face recognition technology, automatically identifying individuals at the community’s ingress and egress access points, thus allowing BTPM to monitor activity and receive real-time feedback in that community.
Due to the lower float, it could be incredibly volatile so please be fully aware of the higher risks involved with low float penny stocks. If this is on your watch-list, is it on the “buy” or “sell” side after this news?