Will These Penny Stocks Be On Your Record Subsequent Week?
Effectively, one other wild week for penny stocks is within the e-book. I for one can’t consider what number of loopy breakouts we noticed in simply 5 days. As euphoria swept throughout the stock market at the moment and all through the week, I watched in sheer amazement. We didn’t simply see a couple of hundred % gainers. We noticed penny stocks rally 1000’s of share factors. There have been additionally penny stocks persevering with multi-week and multi-month bull traits.
One of many massive “push/pull” occasions available in the market was coronavirus and the reopening of the economic system. In the beginning of the week, we noticed large shopping for seemingly set off one other bullish pattern. However as buyers ignored sure fundamentals and let feelings dictate the tempo, we’ve seen how rapidly that pattern modified. The broader markets noticed their worst day since March. Don’t overlook that March was a number of the worst efficiency in many years.
So it is going to be fascinating to see what if something transpires over the weekend. It doesn’t matter what, small-cap and micro-cap stocks have been on fireplace this week. LFIN, IMRN, WAFU, JFIN, and ENOB have been just some examples of parabolic penny stocks. Different low cost shares additionally carried out extremely and it was nearly overwhelming the quantity of penny stock breakouts the market noticed.
Whereas this isn’t the norm so far as frequency goes, it does go to indicate you that it doesn’t matter what the broader markets are doing, penny stocks beat to the sound of their very own drum. That is why buyers that may deal with a little bit of threat proceed to hunt out new alternatives. With this in thoughts, will a few of these penny stocks be in your analysis listing this weekend?
Penny Stocks To Watch: GNC Holdings
Shares of GNC Holdings (GNC Stock Report) has been one of many penny stocks to observe for a lot of the second quarter. Through the last days of April, we took a better take a look at GNC stock. This got here as preliminary talks have been in place about how and when to start out reopening the economic system. The brick and mortar retail sector took a giant hit with some firms not even surviving not to mention making an attempt to keep away from chapter.
Extra Reading – Penny Stocks: The Essential Beginner’s Guide
Within the case of GNC, the corporate lately reached an settlement with required lender teams. This was to increase the springing maturity dates for sure loans. Because of discussions with its lenders, GNC entered into amendments to its loan agreements.
In a late-breaking replace on June 12, GNC got here out with extra lender-related information. The corporate confirmed that it reached an settlement with required lender teams to increase the springing maturity dates for sure loans. Because of discussions with its lenders, GNC entered into amendments to its loan agreements to increase from June 15, 2020 to June 30, 2020 the dates on which, below sure circumstances, the respective springing maturity dates for the time period loan facility, FILO credit score facility and revolving credit score facility may speed up. In consequence, GNC stock began to climb throughout after-hours buying and selling. Can this proceed into the week forward? Because the finish of April, the penny stock’s climbed as a lot as 207%.
Penny Stocks To Watch: Biocept Inc.
Biocept Inc. (BIOC Stock Report) has been one other regular mover since mid-March. BIOC stock hit 52-week lows of $0.2112 on March 17 and it has bounced again ever since. Whereas there was a day that BIOC stock gapped up large throughout April, the general transfer has seen shares climb as excessive as $0.597. Shares closed the week simply over $0.55 with momentum persevering with into the post-market session.
Every week in the past, Biocept got here out with a proper replace. The corporate stated that it’s relocating its company workplaces and CLIA-certified, CAP-accredited excessive complexity laboratory to a brand new location in San Diego. The transfer is predicted to be accomplished by 2020 year-end.
“This location is well-suited to meet our commercial, development and administrative needs and aligns with our strategy of supporting growth while reducing rent expense and other facility costs,” stated Tim Kennedy, CFO and Senior Vice President of Operations of Biocept. Nevertheless, contemplating the latest consideration again on coronavirus, firms like BIocept could possibly be again in focus this month. The most important query: how will that translate for BIOC stock subsequent week?
Penny Stocks To Watch: ElectraMeccanica Autos Corp. Ltd.
ElectraMeccanica Autos Corp. Ltd. (SOLO Stock Report) was one of many breakout penny stocks to observe this week. Sunday we talked about it as one of many names to know. Particularly, we famous that it would discover itself benefiting from the likes of Tesla (TSLA Stock Report), Nio Inc. (NIO Stock Report). Contemplating the latest IPO of Nikola Company (NKLA Stock Report) eyes have turned towards EV tech.
ElectraMeccanica builds the all-electric SOLO, a single passenger car. This week SOLO stock jumped to highs of $Three after the corporate offered an replace associated to its ongoing seek for a U.S. based mostly meeting facility and engineering technical heart. On February 27, 2020 the Firm introduced its engagement with BDO USA’s Web site Choice & Enterprise Incentives Apply to guide the search. Following the preliminary assessment, the Firm has narrowed its listing to the next 5 states: Arizona, Colorado, Florida, North Carolina, and Tennessee.
The stock dropped after ElectraMeccanica introduced a financing for “up to $20 million” at $2. Contemplating shares have been at $3, it wasn’t a shock that the penny stock dropped after the information broke. Nevertheless, on the finish of the week, the corporate reported the financing was closed. Contemplating that $2 now is definitely a premium to the present market price, dealer turned bullish on the penny stock after hours on Friday. Will that sustain subsequent week?
