Are These Penny Stocks The Biggest Morning Movers?
3 penny stocks to see them move a lot early in the morning
As we go further into May, there are plenty of penny stocks to see. However, as smart investors, we have to be selective about which penny stocks to add to our portfolios. And right now, that choice means investors should know exactly what factors are at play.
This will help give your penny stock watchlist the best chance of profitability. With hundreds of penny stocks to choose from, how do you know which is the best? The short answer is that there are a few steps to be taken.
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First of all, investors need to determine what type of trader they are. For example, if you are swing trading, it may not be right to buy penny stocks with low volatility. However, if you want to hold on for the long term, a heavily fluctuating penny stick is also not the right choice. So identify who you are and understand how that plays a role in your portfolio.
Next up are some trends right now. With aspects like the rise of DogeCoin and the Covid pandemic still rife, the market is moving faster than ever. And while this may seem scary, there are ways you can use it to your advantage. This includes understanding how global, industry and company-wide trends affect a penny stock. With that in mind, let’s take a look at three penny stocks moving in stores early in the morning.
3 penny stocks move in early morning trading
- Second Sight Medical Products Inc. (NASDAQ: EYES)
- Cellect Biotechnology Ltd. (NASDAQ: APOP)
- Borr Drilling Ltd. (NYSE: BORR)
Second Sight Medical Products Inc. (NASDAQ: EYES)
Second Sight Medical Products is a leading biotech penny stock, up roughly 25% in early morning trading. Before we get into why EYES stock is up, let’s go back to what the company does. Second Sight develops and markets implantable vision systems that can potentially provide eyesight to people with blindness.
It is considered a leader in the field of neuromodulation, where its focus continues to be on people with visual impairment. Big news came on Wednesday when the company announced the results of a two-year study known as Orion Visual Cortical Prosthesis.
This study consists of six subjects studied at UCLA and Bayor College of Medicine. While the study was interrupted earlier in the year due to Covid, it was quickly resumed and is now showing results from the early feasibility study.
During the two years, all patients showed that the Orion System brought them great benefits. After two years, five out of five patients tested were able to locate a white square on a dark computer screen much better than they would without using the Orion system.
Jessy Dorn, Vice President, Clinical and Scientific Research at Second Sight, stated, “We are excited to resume the study and see such promising results, especially after all visits have been suspended for several months due to Covid-19.”
This is a breakthrough for the company and could be even more of a breakthrough for the patients who could benefit from it. While Orion is still in its infancy, there is hope that it can soon move towards commercialization. It’s also worth noting that as of May 12th, EYES will no longer be a Penny Stock. Given this, will EYES stock be on your watchlist?
Cellect Biotechnology Ltd. (NASDAQ: APOP)
APOP is a penny stick that we’ve covered several times over the past few months. Cellect is another biotech company, but they are in the stem cells space. The company has developed a breakthrough technology that allows stem cells from any tissue in the body to be used to improve overall stem cell therapy.
A study is currently in progress to see if this technology can be used in bone marrow transplants to treat cancer. Overall, however, it fits into the field of regenerative medicine.
A few weeks ago, Cellect announced key data from a Phase 1/2 clinical trial of its ApoGraft technology. Dr. Shai Yarkoni, CEO of APOP, said: “The data confirm previous results and support the further development of our products. I remain committed and believe that the human data from this study will accelerate the clinical development of ApoGraft. “Since this study has shown that the grafting technology is safe, the company should be able to move quickly to the next phase of the trial.
Additionally, just a month or two ago the company announced a reverse merger with the private help of Quoin Pharmaceuticals. This is a big deal, although it is a common practice in the biotech industry. But as always, it’s good to see a biotech penny stock that has a lot going on in the pipeline. With this in mind, will APOP be on your list of penny stocks to watch?
Borr Drilling Ltd. (NYSE: BORR)
Another decent pre-market gainer is Borr Drilling Ltd. to help better understand this energy stock. Let’s take a look at the most recent submission. The preliminary results for the financial data for the fourth quarter and full year 2020 were released a few months ago. In results, the company posted operating revenues of $ 60.2 million for the year with a net loss of $ 46.7 million. This goes hand in hand with a substantial capital increase of $ 27.5 million, which is raised a few weeks later for a further $ 5.3 million.
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Patrick Schorn, CEO of Borr Drilling Ltd., stated: “In the fourth quarter of 2020 and through the end of January 2021, our primary focus was on completing the previously announced liquidity improvement plan, including restructuring debt maturities, interest payments, and delivery payments on investments … at oil prices above USD 60 / barrel, we expect a stronger market to develop in the future. ”
Now it is important to take into account that the pandemic has affected BORR. However, with the resumption of travel and business operations, it seems like the company could work on bringing production to pre-determined levels.
For any energy company, demand is the backbone of growth. For this reason, potential BORR stock investors should keep up with the activities of the oil and gas industry. However, whether that makes Borr Drilling a watchlist candidate is up to you.
Are These Penny Stocks Worth Watching?
Ultimately, it depends on your portfolio to make a list of penny stocks to watch it all. Would you like to invest long-term or short-term? What are your investment goals?
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These are important questions to consider before adding penny stocks to your watchlist. But with so much potential in the post-covid economy, there are many options. With that in mind, are these penny stocks worth seeing?