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With Black Friday in full effect, there are plenty of things for penny stock investors to be thankful for. In the past few weeks, we have seen solid momentum amongst a handful of penny stocks to watch. These penny stocks span different sectors and industries.
This includes biotech penny stocks, mining penny stocks, digital communications penny stocks, and more. But with so many options, how can we as investors pick the best penny stocks to watch? Well, the first step in this is to pick an industry of interest. With Covid cases rising, many investors have chosen biotech penny stocks in the past several months.
Whether or not they are working on Covid related treatments, we have seen most biotech penny stocks have a high correlation with one another. Because of this, the biotech industry as a whole has shown a great deal of momentum this year. The next step is to pick a list of penny stocks to watch and begin researching.
This involves finding out everything one can about a given company. Within the research, investors should look for financial statements, press releases, and more. With the internet at our fingertips, researching penny stocks has never been easier. All things considered, here are four of the top penny stocks to watch after Black Friday.
Adomani Inc. is one of the biggest gaining penny stocks of the past two weeks. Since the beginning of November, shares of ADOM stock have shot up by over 355%. This includes the 12% midday gain on November 27th. As a producer and provider of zero-emission vehicles, Adomani Inc. has a lot to look forward to in the coming years. With Biden elected president in the past month, investors believe that the U.S. could be headed toward a green future. This would mean that companies like Adomani, could potentially see solid momentum in that time period. In addition, on November 12th, ADOM stock reported its Q3 financial results.
Within the results, the company stated that “we continue to believe that if we are able to free up HVIP, NYTVIP, NYCCTP and other funding, resume our sales and marketing efforts that have been severely curtailed by the Covid-19 virus restrictions, effectively execute our revised, more conservative business plan, and capitalize on the opportunities that are presented to us, we will be profitable hopefully in 2021.”
With electrical vehicle penny stocks rising in popularity, ADOM represents an opportunity to get in at a cheap price. In addition, its momentum in the past month shows that there is a great deal of bullish interest in ADOM stock. With this in mind, it remains a penny stock to watch.
Westport Fuel Systems Inc. is a company that works in the engineering, manufacturing and supplying of advanced clean fuel systems. The company states that its products are working to change the way the world works by offering clean energy solutions. The company also mentions that it works in more than 70 countries around the world as well as with leading transportation brands.
Recently, the company announced that it has established an at-the-market equity offering program. This will give the company as much as $50 million worth of common shares. With these funds, the company should be able to further its research and development of new clean energy processes and tools.
Additionally, the company also announced that it has agreed upon a follow-on contract to develop new products with the European based manufacturer, OEM. CEO of Westport Fuel Systems, David Johnson, stated that “we see strong growth in the European heavy-duty LNG truck market driven by a number of factors, including increased product availability, an expanding LNG fueling network, purchase incentives and compelling ongoing operating cost savings.”
As stated earlier, the popularity of eco-conscious energy penny stocks has grown greatly in the past few months. Since the start of November, WPRT stock has climbed by more than 140% so far. With this in mind, investors could consider this penny stock to watch.
Clovis Oncology Inc. is a biopharmaceutical company working on the commercialization and development of several cancer-treating drugs. The company states that it works in both the U.S. and Europe. In addition to producing cancer-treating drugs, Clovis also works on producing diagnostic tools that can benefit the treatment of various types of cancer. Recently, the company announced its Q3 operating results for 2020.
In the results, the company stated that its primary drug, Rubraca, brought in almost $40 million in sales during the quarter. In addition, the company ended the quarter with more than $224 million in cash and cash equivalents. Additionally, Clovis Oncology stated that it is working on the completion fo a $50 million convertible note offering.
Parick Mahaffy, CEO of the company stated that “we are pleased that third quarter revenues for Rubraca grew slightly over the same period in 2019, despite a very challenging sales environment caused by Covid-10, which has severely limited oncology patient visits and cancer diagnostics. In addition, oncology practices have substantially limited traditional in-person sales calls-a trend that we see accelerating- and physicians increasingly prefer digital communications.”
While this quarter was impacted by covid, it seems as though Clovis Oncology has managed to avoid big upsets in its financials. Because of its place in the biotech industry, it could be considered a penny stock to watch for the long term.
Arbutus Biopharma Corp. is another leading biopharmaceutical company working on the discovery, development and commercialization of a hepatitis B cure. The company has also stated that it is working on drug discovery regarding the coronavirus. Because of the latter, Arbutus Biopharma has received a great deal of public attention in the past few months.
Recently, the company announced updated clinical data from its Phase 1a/1b clinical trial of AB-729. On November 27th, shares of ABUS stock shot up by over 15% during intraday trading. In the past month, ABUS stock has returned more than 50% to investors. One of the main catalysts for the big gain on November 27th, comes as the company announced that it will be advancing the aforementioned study to its Phase 2 trial.
While it is working on AB-729, investors are focused on the company’s work on a covid treatment. In the past six months, all of the focus of the biotech industry has been on finding a valid way to treat or cure covid infections. With a vaccine on the way, there is still a desperate need for treatments of this kind. While the company is not considered a major player when compared to the likes of Pfizer and Moderna, it is working in its own niche area of the covid industry. For this reason and others, Arbutus Biopharma could continue to be considered by investors as a penny stock to watch.
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