XSPA - Do These Penny Stocks Have More Upside? 2 Up Big This Week
Penny Stocks To Buy Or Sell Right Now
When it comes to investing in penny stocks, the time frame is important. Are you looking to make money in the short-term or are long-term gains the goal? Also, are you looking to make money in certain sectors or are you just focused on high volume penny stocks, in general? All of thee are great questions to ask and have answers for when you’re about to trade penny stocks.
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If you’re just beginning to get your feet wet with penny stocks, one of the first questions I always hear is “how high will this stock go?” Here’s the thing with any investment, there’s no guarantee. You can use charts, technical indicators, news, and other things to plot out the potential trajectory of a stock. But at the end of the day, a stock is at the mercy of its shareholders, industry events, and its own news headlines.
The fact of the matter is you could find the “perfect” penny stock to buy. You study the trend, see strong financials, etc. But if the industry itself came under fire by a major government entity, for example, that “perfect” trade could be out the window. This exact situation happened with the cannabis industry and more recently, the energy sector. Though, late in the week, oil and gas stocks have begun to see better performance.
So in determining “how high penny stocks will go,” it’s more important to see what’s happening with the company and its industry instead of simply asking a question that doesn’t have a definite answer. With this being said, I’ll pose the question to you as the reader: Do these penny stocks have more upside?
Penny Stocks To Trade [or fade]: ADMA Biologics
ADMA Biologics (ADMA Free Report) has been on the radar of penny stock traders for a few weeks now. The company initially gained attention after discussing a potential application of its pipeline treatment to COVID-19. As we’ve seen, coronavirus penny stocks have skyrocketed this year. Ever since late-January when the term started floating around, COVID-19 is a huge focus for biotechnology companies. Specifically, any company with an immune therapy has worked to direct efforts toward a vaccine for the virus.
The importance to watch ADMA came recently after the latest move by the FDA. As a little back-story, ADMA develops specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection. Why’s this important right now? The FDA recently found that limited data suggests convalescent plasma and hyperimmune globulin may have benefits in coronavirus.
So if you’re not a doctor, what this means is that the liquid part of blood that is collected from patients who have recovered from infection might have a use in treating people currently infected. According to the FDA, “Convalescent plasma is being investigated for the treatment of COVID-19 because there is no approved treatment for this disease and there is some information that suggests it might help some patients recover from COVID-19.”
As the company stated in its recent update, it has identified the potential on its own. Now with the FDA suggesting something similar, this could be another validation for ADMA. But will it be enough to boost shares into next week? That will be the ultimate question.
Penny Stocks To Trade [or fade]: XpresSpa Group
XpresSpa Group (XSPA Free Report) has made headlines over the last few weeks. If you’re not familiar with this company, you’ve likely seen it in person if you traveled through a major airport in the last few years. The company operates those storefronts that offer a massage during an airport layover. Well, XprresSpa has also done something else for both the greater good and to potentially help its financial status.
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The company announced in March that it’s working to convert its spa locations into coronavirus testing locations. According to the company, it partnered with RRelevant Healthcare Cost Containment a/k/a Contain Holdings, to accomplish this. Furthermore, the company has raised just under $1.8 million, which was one of the reasons shares pulled back. The registered offering was priced “at the market” but compared to the market price at the time of the update, it was discounted. Nevertheless, shares may have started to recover this month.
This latest move comes after yet another big update. XpresSpa announced on April 4 that it has advanced discussions with healthcare partners to develop its COVID-19 screening model in U.. airports. The company said it also filed paperwork to form a new business unit to administer the screening. However, nothing definitive has been finalized. So as the company pursues options, it’s important to understand this point.
Penny Stocks To Trade [or fade]: BioSig Technologies
BioSig Technologies (BSGM Free Report) is one of the other penny stocks to watch early on during April. Late last month, shares began to pull back away from its newly inked 52-week low around $2.36. As buying volume came in steadily, bigger momentum surged after a big update. The company announced that its subsidiary, NeuroClear, acquired a license for a broad-spectrum antiviral agent. Coincidentally, it “could” have an application for COVID-19.
Upon initial review, Vicromax showed “strong activity against COVID-19” in cell cultures in lab testing. It already completed Phase 1 and 3 Phase 2 trials in other indications. There’ also been animal testing conducted and some human clinical experience as well. But after the excitement subsided, BSGM stock slowly pulled back to around $3.50 over the following week.
So why bring this company up now? BioSig jut released more news at the end of the week. The company announced that it will host a telebriefing on development updates of Vicromax later this month. In fact, on April 7 at 11 AM EST is when this will happen. So even though this isn’t any new news, it does bring in some speculation based on the scenario of “what will the company reveal on this call” next week? Will BSGM stock rally back above $5 once again, heading into this call or will it fade back again as it did at the end of March?
Penny Stocks To Trade [or fade]: Camber Energy
Shares of Camber Energy (CEI Free Report) took off on Friday after the latest surge of attention in energy stocks pushed shares higher. In my example above, if you’d asked someone if they thought CEI stock could move higher, a few weeks ago, looking at the chart may have made them skeptical. But they would have been wrong. April 3 saw shares rally to highs of $2.94. This is a price that the energy penny stock hasn’t seen in January.
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Not only the industry, but company progress has also helped boost sentiment for the penny stock. On April 2, Viking Energy Group and Camber reaffirmed the commitment to move forward with a planned acquisition. There was a definitive agreement signed by the two companies in February. Obviously the concern about this merger could have grown thanks to the beating that most energy stocks have seen over the last few weeks.
Through the deal, Camber will acquire Viking. “The combination of Viking and Camber positions the combined company with enhanced capabilities for greater liquidity and access to capital markets later this year, as well as a national stock exchange listing,” said James Doris, President & CEO of Viking. Given the timing of this deal and the latest positive sentiment around global energy stocks, will CEI remain pinned in this latest uptrend or will the move fade later this month?