Want to talk about something crazy? Earlier this year we said “coronavirus penny stocks” are “a thing” now. But that was initially a joke at the time. Now 7 months later, COVID-19 has ballooned into something that has choked out most other headlines. On Wednesday, the U.S. reported an average of about 62,210 new cases per day over the past seven days. That was more than triple the average from just a month ago.
What’s more is that some of the states initially praised for their handling of “reopening” are among the major epicenters in the U.S. Texas, Florida, and California accounted for a total of 31,847 new cases on Tuesday. You don’t have to be a math whizz to see that’s just about half of the overall total.
Given this as the case, COVID-19 stocks have become a much bigger focus this year. There are a few things to consider if you’re looking for certain related penny stocks to buy. First off, not all coronavirus penny stocks are considered biotech stocks. It’s also important to understand that there’s still a lot more speculation in the market.
That’s part of the reason why biotech stocks are the only ones to benefit from coronavirus right now. There are numerous technology and consumer stocks actually taking off due to quarantines as well.Penny Stocks To Watch: Revive Therapeutics Ltd.
Revive Therapeutics (RVVTF Stock Report) (RVV) has been one of the coronavirus penny stocks to watch this year. On June 30, Revive announced it submitted its Investigational New Drug application to the U.S. FDA for a Phase 3 confirmatory study for Bucillamine. The trial is to see Bucillamine as a potential treatment in COVID-19.
If or when the U.S. FDA allows the IND to go into effect, Revive said it will initiate a randomized, double-blind, placebo-controlled study of Bucillamine in patients with mild-moderate COVID-19 in Q3-2020. Revive said it will enroll up to 800 patients that will be randomized 1:1:1 to receive Bucillamine 100 mg three times a day (“TID”), Bucillamine 200 mg TID or placebo TID for up to 14 days.
Back in March, shares were trading around $0.06 and managed to jump as high as $0.50. However, at the start of July and after reaching its 52-week high, shares saw a quick consolidation back to levels as low as $0.12. Needless to say, over the last few days, Revive stock has been on the rise again. Since July 8, Revive’s stock has bounced from lows of $0.1735 to over $0.20 this week. As more attention focuses on vaccine companies, will Revive secure its place in the conversation ahead of this potential IND?Biotech Penny Stocks To Watch: Nabriva Therapeutics
Nabriva Therapeutics (NBRV Analyst Report) has perked up a big this week. It came after about a month of a slow bleed. Since reaching highs of $1.20, NBRV stock steadily consolidated back to its 50 Day Moving Average area. This week, shares began rebounding once again and it came after its latest update.
Nabriva entered into another exclusive agreement, this time with subsidiaries of Merck & Co. Inc. to market, sell, and distribute SIVEXTRO® in the US. This is the company’s antibacterial to treat certain skin infections. Furthermore, earlier this month the company signed an exclusive agreement with WEP Clinical to supply XENLETA® on a named patient or expanded access basis. This was designed to ensure that physicians, contingent on meeting the necessary eligibility criteria and receiving approval, can request IV or oral XENLETA on behalf of patients who live in certain countries where it is not yet available. XENLETA is the company’s treatment for community-acquired bacterial pneumonia.
However, I think clearly the attention is on the recent news with Merck, this week. Keep something in mind from a technical perspective. For months, NBRV hasn’t been able to break above its 50 Day Moving Average suggesting that has been a consistent level of resistance. The recent spike this week has seen NBRV stock not only jump above the 50DMA but also test levels around its 200 DMA.
Since the penny stock has gapped up so much, these levels could be important to note and the 200DMA historically represents a generally strong level (whether support or resistance). Will this latest momentum be able to spark a big enough rally for it to jump above this level or is NBRV stock set for a slide?Tech Penny Stocks To Watch: BIO-key International Inc. & Future Financial Technology
BIO-key International Inc. (BKYI Stock Report) & Future Financial Technology (FTFT Stock Report) are two companies benefiting from coronavirus in a way that isn’t directly related to biotechnology. First, BIO-key has been an interesting penny stock to watch this year. January 2, this year, saw BKYI stock begin the year at $0.50.
This week, shares trade around $0.75. To the unknowing, they might say, “Hey that’s a decent move” right? But what if you found out between then and now that BKYI stock had traded as high as $2.58 and as low as $0.35?
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BIO-key focuses on identity and access management solutions. This week the company announced its footprint in providing service for higher education continues to grow within the California Community College System. There are now fifty colleges under support. The North Orange County Community College District chose the PortalGuard solution to improve their security posture and deliver a frictionless access experience for every end-user. With the potential surge in EdTech and eLearning to come, virtual access systems could become a focus as well. The big question is if it will become a lasting trend or a flash in the pan.Future Financial Technology
In the case of Future Financial Technology, we’re looking at a FinTech business. Following a March press release, the company announced it formally signed a Stock Exchange Agreement with Joy Rich Enterprises Limited to acquire 90% of the issued and outstanding shares of Nice Talent Asset Management Limited.
It’s a Hong Kong-based asset management company. Its current business partners include major international banks and the management team includes former senior executives of HSBC. Some of the essential businesses during this pandemic have been banks. Whether or not it has directly impacted FTFT stock directly is up in the air right now. Regardless the latest news has sparked a surge in the market on Thursday.
Similar with Nabriva, FTFT stock has run very high, very quickly. I know it’s a popular penny stock on Thursday. But keep in mind that this has had a huge move, in just a few weeks. Will profit-taking become a factor on Thursday?