The markets have been in turmoil in recent days due to the continued escalation of the coronavirus pandemic all over the world. Stock nosedived at an alarming rate, and experts believed that the near decade long bull market finally came to an end. Despite the fall in stock prices, some penny stocks did manage to record gains in recent days, and investors could take a look at some of those.
Moreover, the stimulus from the United States Federal Reserve could also have an effect on stocks. Here is a quick look at 5 penny stocks that investors could track at this point.
Penny Stocks To Watch #1 J.C. Penney
The first penny stock that could be considered at this point in time is that of departmental store firm J.C. Penney (JCP Stock Alert). The company has been struggling for many years now, and its stock has suffered considerably this year so far. It is down by 45% in 2020 so far, but on Friday, the stock soared by as much as 46% and that too without any major news about the company.
Back in February, the J.C. Penny stock had suffered after the New York Stock Exchange sent in a notice indicating that its stock was non-compliant. The stock had failed to maintain a price of at least $1 over a 30 day trading period.
Penny Stocks To Watch #2 Pieris Pharmaceuticals
The other penny stock that has emerged as a possible option for investors is Pieris Pharmaceuticals (PIRS Stock Alert), which released its financial results for the full year 2019 last week. The company announced that 2019 was a ‘milestone year’ as Pieris managed to conduct as many as two positive clinical data sets.
For the year ended on December 31, 2019, the company’s cash position stood at $104.2 million. The announcement led to a lot of positivity around the stock, and it soared by as much as 34% on Friday.
Penny Stocks To Watch #3 Selecta Biosciences
On the other hand, Selecta Biosciences (SELB Stock Alert) has emerged as another viable option for investors looking for promising penny stocks. Last week, the company announced its financial results for Q4 2019 and also for the financial year 2019.
The company announced that the results from the COMPARE trial of its product SEL-212 are going to be available at some point in the third quarter. The medicine also got positive guidance from the FDA. Selecta also revealed that its cash position stood at $91.6 million as of December 31.2019. The stock rose by more than 30% after the announcement.
Penny Stocks To Watch #4 Stemline Therapeutics
Stemline Therapeutics (STML Stock Alert) emerged as another penny stock that made impressive gains recently despite the selloff in the wider market. Last week the company announced its quarterly results and generated $0.38 a share worth of losses, which was marginally lower than analysts’ expectations of $0.43 a share.
On the other hand, the revenues for the period stood at $11.83 million, which also beat analysts’ estimates by as much as .08%. The performance resulted in a rally in the stock as well, and the Stemline stock managed to gain as much as 12%.
Penny Stocks To Watch #5 Xeris Pharmaceutical
Last but certainly not the least, it is Xeris Pharmaceutical (XERS Stock Alert) that recorded considerable gains last week. The company reported its fourth-quarter financial results on Wednesday and managed to beat analysts’ estimates for its losses.
The losses per share came in at $1.23 a share, as opposed to analysts’ estimates of $1.24 a share. On the other hand, the revenues of $1.86 million surpassed analysts’ estimates by a whopping 144.30%. The stock rallied by 28.50% since.