When it comes to penny stocks, you should be prepared for a road of volatility. These stocks under $5 can easily move 50% in any direction in a single day. Trading penny stocks could be difficult if you don’t take the time for it though. Momentum can happen at a moment’s notice, making it difficult to invest in these low-cost stocks. But to trade penny stocks, you don’t need to commit a ton of time for one specific reason. There are some companies that have longer trends, whether it’s based on news or financial reports.
Just because penny stocks are volatile, does not mean that some don’t follow long term trends. If you are able to properly keep up with penny stock news then you will have better chances at being able to follow the market. It is important to look at the sector a company is in as well, as news for the sector will impact the company.
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For example, if the price of gold changes to a notable extent, it will likely affect most gold stocks as well. So with all of that being said, let’s take a look at a few names that have been performing well recently. However, as we know, this can all change in an instant. Will these be on your list of penny stocks to buy or sell heading into the month of October?Penny Stocks To Buy [or sell]: Evogene Ltd.
First on this list of penny stocks to watch is Evogene Ltd. (EVGN Stock Report). Evogene is a computational biology company that focuses on product discovery and development. These developments are in the life-science based industries, such as human health and agriculture through its Computational Predictive Biology system. It discovers many types of therapeutics to treat different disorders. The company operates out of the United States, Israel, Brazil, and internationally. Present-day the company has licensing agreements with BASF SE, Corteva, Bayer, and more.
So why is EVGN stock trending on the week of September 30th? First of all, the company has been performing well throughout all of September, with its volume on the rise as well. Currently, the company is building funding to execute its near future plans. At the start of the month, EvoGene announced that it has directly offered $10 million worth of shares to ARK Investment Management LLC and Alpha Capital.
The company will be using this money to develop its product lines and grow its computational biology platform. Additionally, Evogene recorded good pre-clinical results in its immune-oncology program. The CEO of the company was very forward-looking and positive about these advancements. In the month of September, EVGN stock price is up more than 106% a share. Considering this massive, 1-month move, is EVGN stock set to continue this trend, or is a cool-off in store for October?Penny Stocks To Buy [or sell]: Kadmon Holdings
Kadmon Holdings (KDMN Stock Report) is one of the aftermarket movers on Wednesday. This is likely a warm welcome for some who’ve been watching KDMN stock pullback over the last few weeks. Shares reached a low of $3.61 on Tuesday, which is in a price area that tended to act as support in late March and late July.
So far, that appears to have been the case in late September (for now). Wednesday’s session saw KDMN stock bounce back by about 8% from Tuesday’s low. While there was no news during market hours, aftermarket saw the company announce one of its bigger updates of the month.
Kadmon announced the submission of a New Drug Application to the FDA for its belumosudil (KD025). This is the company’s treatment for patients with chronic graft-versus-host disease (cGVHD). The NDA submission is supported by positive data from ROCKstar (KD025-213),Kadmon’s clinical trial evaluating belumosudil in 132 patients with cGVHD. Belumosudil has been well tolerated and adverse events have been consistent with those expected in the patient population. Data from ROCKstar are also expected to be presented at an upcoming medical meeting.Penny Stocks To Buy [or sell]: Ameri Holdings Inc.
Ameri Holdings Inc. (AMRH Stock Report) has been relatively quiet since the last time the penny stock broke out in June. The company announced that its proposed amalgamation partner Jay Pharma Inc. received institutional review board approval by Rabin Medical Center in Petah Tikva, Israel. This was for a Phase I/II clinical trial investigating Jay Pharma’s proprietary cannabidiol formulation for the treatment of glioblastoma multiforme. It’s a rare and aggressive form of brain cancer.
We watched, first-hand, AMRH stock jump from under $1.50 to over $5.30. But just as quickly as it jumped, it came back down over the next few days. This has been a trend we’ve learned about this year and one to keep in mind. When it comes to low float penny stocks or ones making huge moves, a tight strategy is key. That couldn’t be more obvious than with AMRH in June, KODK in July, and SPI most recently. With quick, high flyers, a short-term mindset has been the case. Will that change with AMRH? We’ll see.
On Wednesday, the company didn’t make any announcement and there weren’t any new filings to speak of. However, shares of AMRH moved explosively higher during the aftermarket session. What we do know is that the company has this pending transaction with Jay Pharma Inc. Could this be speculative momentum building around that as a potential catalyst?Penny Stocks To Buy [or sell]: CEMEX S.A.B. de C.V.
Last on this list of penny stocks is CEMEX S.A.B. de C.V. (CX Stock Report). CEMEX is an industrial company that produces, markets, distributes and sells a variety of products. These include cement, ready-mix concrete, aggregates, clinker, and much more. In addition to these construction materials, it offers asphalt, concrete blocks, roof tiles, and other architectural products. CEMEX has more than 2000 stores worldwide.
On September 24th, CEMEX announced that it is the first company in its sector to target a CO2 reduction in its European operations of at least 55% by the year 2030. The company expects to reduce its carbon emissions by 35% by the end of this year. This could potentially set up CEMEX to lead the construction materials sector in reducing emissions. It has converted from fossil fuels to alternative fuel sources in its factories, making substitution rates at 60%, higher than the EU average of 40%.
The CEO of the company, Fernando A. Gonzalez, said, “We welcome the clarification from the European Commission President and are proud to be the first building materials company to align with the commitment. We look forward to advancing investment, research, and development to decarbonize our operations.”
According to a report from the Wall Street Journal, Cemex recently teamed up with Synhelion SA to use solar heating to make cement. The company plans to begin pilot testing by the end of 2022 using Synhelion’s solar heating technology. In just the last 5 days, CX stock price is up more than 9.5% a share.