What Are The Best Penny Stocks To Buy Right Now?
It is another wild session in the stock market today, with penny stocks ruling the headlines. Some of the most extensive short squeezes and bullish breakouts have happened over the last few weeks. While HKD and AMTD stock have been surging to the tune of thousands of percentage points. Here are a few articles to check out if you’ve missed the memo:
- 4 Penny Stocks To Watch After HKD Stock Explodes Over 2000%
- Best Penny Stocks to Watch Premarket August 2nd, AMTD Stock & More
Then you had more trends stemming from these breakouts, focusing on short squeeze penny stocks, low float penny stocks, and Chinese/Hong Kong tech stocks. Tuesday’s session is no different, and stocks under $5 are still in a very bright spotlight. Applied DNA Sciences (NASDAQ: APDN), for example, skyrocketed early on a major update.
Why APDN Stock Is Up Today
Applied DNA announced that it began analytical validation of a PCR-based monkeypox virus test specific to monkeypox. If the company validates the test, a package will be submitted to the New York State Department of Health for approval.
“Based on our experience with the COVID-19 pandemic, we are keenly aware of the crucial role PCR-based diagnostic tools can play in responding and helping to control public health outbreaks. With a proven workflow and testing services born of COVID-19, upon test approval, ADCL stands ready to apply its testing capacity in service of New Yorkers’ health,” stated Dr. James A. Hayward, president and CEO of Applied DNA Sciences.
Penny Stocks To Watch
Not only is APDN stock running from news catalysts, but it’s also one of the low float penny stocks already on the radar after the last few sessions of bullishness for the micro-niche. Other than perking up interest in APDN stock, it has continued boosting appeal for traders looking for the next round of multibagger penny stocks to buy. Today we look at a few more gaining momentum thanks to a small- and micro-cap stock bull rally this quarter.
- Ginkgo Bioworks Holdings (NYSE: DNA)
- Bluebird Bio Inc. (NASDAQ: BLUE)
- Transocean Limited (NYSE: RIG)
- Ironnet Inc. (NASDAQ: IRNT)
Ginkgo Bioworks Holdings (NYSE: DNA)
One of the Cathie Wood penny stocks to watch this year has been Ginkgo Bioworks. One of Wood’s funds, Ark Innovation (NYSEARCA: ARKK), has a position in DNA stock worth about $200 million as of this article. It has also been a company we’ve followed closely since the stock slipped into penny stock territory this year.
Several developments have come to light, prompting a more bullish stand on the penny stock. Whether it was the continued support of the Operation Expanded Testing program with the U.S. CDC or the latest deal to acquire Zymergen Inc. (NASDAQ: ZY), there’s no shortage of recent updates.
What might have traders focused on DNA stock today is some unusual activity in the options market. Yes, some penny stocks have options, and just like higher-priced stocks, irregular activity can spark speculative and sentiment-based trading. As far as the DNA stock options chain goes, it isn’t today’s volume as much as it is the string of open interest that has turned a few heads.
The August Calls alone have more than 25,000 total open contracts compared to far less than that on the puts side of the chain. This trend continues through almost every expiration date through January 2024. Whether or not this is truly a bullish sign is to be seen. For now, however, it has prompted some optimism in the stock market today for DNA stock.
Bluebird Bio Inc. (NASDAQ: BLUE)
Like DNA stock, Bluebird Bio also has some interesting options statistics to consider. Its options chain favors Call open interest compared to puts at or greater than 2:1 at most expiration dates. This week, analysts at Raymond James also gave the biotech company an upgrade to Outperform. The firm announced an $8 target to pair with the new rating. Considering that’s roughly 100% higher than current levels, Raymond James appears bullish on the company.
Bluebird Bio made headlines earlier this summer after the FDA’s Advisory Committee unanimously backed its gene therapy for a rare blood disorder. If approved, the treatment (beti-cel) will become the first potentially curative gene therapy for beta-thalassemia. The same committee endorsed approval of Bluebird’s other gene therapy, elivaldogene autotemcel (eli-cel) a day prior. The treatment is for a rare neurological disease and came into focus despite concerns that the treatment may cause cancer.
This month could be an important one for BLUE stock. That’s because a PDUFA goal date is set for August 19th. The question is, will options traders’ bets be right about the penny stock?
Transocean Limited (NYSE: RIG)
You will notice this unusual options activity trend throughout the article, and Transocean is part of it. From the most near-term expiration date, August 5th, to November 18th, Call activity is heightened. Both Open Interest and today’s trading volumes are building steam.
Energy stocks are red hot this quarter, and Transocean is gaining momentum. This week the company announced its latest development. The company’s Deepwater Conqueror drillship was awarded a two-year contract valued at $321 million. This was in addition to announcing a $915 million agreement for its ultra-deepwater Petrobras 10000, which received a 5.8-year contract for offshore work in Brazil.
Given the more than $1 billion in new contracts in addition to a strong energy market & bullish options activity, RIG stock could be one on the watch list right now.
Ironnet Inc. (NASDAQ: IRNT)
While most of the names on this list of penny stocks have unusual options activity for near and longer-term timeframes, Ironnet’s is very much near-term. The August 5th (Friday) $2.50 strike Calls are the ones in question today. More than 5,500 contracts were traded compared to just 841 Open Interest contracts.
The cyber defense technology company recently inked a deal with Brookdale Community College to protect it against cyberattacks. “The education sector is now a primary target for cyber attacks, putting our next generation at risk. We need leaders across school districts, colleges, and universities to work together to protect this critical sector from further attacks,” said General (Ret.) Keith Alexander, co-CEO and founder of IronNet. “As a top community college in the U.S., Brookdale is taking a proactive stance against bad actors by partnering with IronNet to not only defend its networks against real-time attacks but also strengthen the security posture of the entire education community.”
Cybersecurity stocks have come back into focus in light of the latest cyberattack on Taiwan’s presidential office ahead of Nancy Pelosi’s visit. Whether or not the bullish options activity is tied to this sentiment is a guess at this point. But, for now, it may be something to keep in mind if IRNT stock is on your watch list.
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Head Of The Lancet’s COVID-19 Investigation Is “Convinced” It Came Out Of A Lab
Head Of The Lancet’s COVID-19 Investigation Is "Convinced" It Came Out Of A Lab
Authored by Steve Watson via Summit News,
The head of the…
The head of the preeminent scientific journal The Lancet’s COVID-19 origins Commission is ‘convinced’ that the virus came out of a lab and says that a real investigation is being blocked.
Professor Jeffrey Sachs told Current Affairs that he is “pretty convinced [COVID-19] came out of US lab biotechnology” and has warned that ongoing research could lead to another pandemic outbreak.
"One thing that is rather clear to me is that there is so much dangerous research underway right now under the umbrella of biodefense or other things that we don’t know about, that is not being properly controlled. This is for sure."https://t.co/HT5dz7QiWN— Current Affairs (@curaffairs) August 3, 2022
Sachs notes that scientists who dismissed the lab leak theory did so “before they had done any research at all,” adding “they’re creating a narrative. And they’re denying the alternative hypothesis without looking closely at it.”
Sachs points to the ‘gain of function’ research and the genetic markers found in the SARS-Cov-2 coronavirus that indicate it was manipulated to be more deadly.
“What’s interesting, and concerning if I may say so, is that the research that was underway very actively and being promoted, was to insert furin cleavage sites into SARS-like viruses to see what would happen. Oops!” Sachs states.
“They’re not looking,” Sachs says of scientists who dismiss the lab leak, adding “They just keep telling us, ‘Look at the market, look at the market, look at the market!’ But they don’t address this alternative. They don’t even look at the data. They don’t even ask questions. And the truth is from the beginning, they haven’t asked the real questions.”
Sachs further labels the efforts to distract from the lab research as “misdirection” and “sleight of hand”.
“There is a huge amount of reason to believe that that research was underway. Because there are published papers on this. There are interviews on this. There are research proposals. But NIH isn’t talking. It’s not asking. And these scientists have never asked either,” Sachs further asserts.
He continues, “From the very first day, they have kept hidden from view the alternative. And when they discuss the alternative, they don’t discuss the research program. They discuss complete straw men about the lab, not the actual kind of research that was underway, which was to stick furin cleavage sites into SARS-like viruses in a way that could have created SARS-Cov-2.”
“What I’m calling for is not the conclusion. I’m calling for the investigation,” Sachs urges, adding “Finally, after two and a half years of this, it’s time to fess up that it might have come out of a lab and here’s the data that we need to know to find out whether it did.”
Sachs also addresses EcoHealth Alliance and Peter Daszak, noting that he originally personally appointed Daszak to chair the task force of the Lancet’s pandemic commission.
Sachs says “I realized he [Daszak] was not telling me the truth. And it took me some months, but the more I saw it, the more I resented it. And so I told him, ‘Look, you have to leave.'”
Sachs adds that once he fired Daszak, other scientists began attacking him.
“I asked them: “What are your connections with all of this?” They didn’t tell me. Then when the Freedom of Information Act released some of these documents that NIH had been hiding from the public, I saw that people that were attacking me were also part of this thing. So I disbanded that whole task force,” Sachs notes.
“So my own experience was to witness close up how they’re not talking. And they’re trying to keep our eyes on something else. And away from even asking the questions that we’re talking about,” Sachs further warns.
Sachs concludes that he “Doesn’t trust” the governments and scientists who are dismissing the lab leak theory, adding “I want to know. Because even what we know of the dangerous research is enough to raise a lot of questions of responsibility for the future. And to pose the question: ‘Hey, what other viruses are you guys working on? What should we know?'”
“I want to know what’s being done. I want to know what other governments are doing, too, not just ours. I want some global control over this stuff,” Sachs further urges.
The professor finally calls for “a bipartisan congressional oversight investigation that has subpoena power,” urging “Give us your lab records, your notebooks, your data files of virus strains, and so forth.”
As we have highlighted, this is what Senator Rand Paul is pursuing relentlessly.
Following an initial hearing last week before the Senate Homeland Security and Governmental Affairs subcommittee, Paul revealed that there is a committee that is supposed to oversee experimentation with potentially lethal viruses, but that it is above the oversight of Congress.
“We don’t know the names. We don’t know that they ever meet, and we don’t have any records of their meetings,” the Senator noted, adding “It’s top-secret. Congress is not allowed to know. So whether the committee actually exists, we’re uncertain.”
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$265 Billion In Added Value To Evaporate From Germany Economy Amid Energy Crisis, Study Warns
$265 Billion In Added Value To Evaporate From Germany Economy Amid Energy Crisis, Study Warns
A new report published by the Employment Research…
A new report published by the Employment Research (IAB) on Tuesday outlines how Germany's economy will lose a whopping 260 billion euros ($265 billion) in added value by the end of the decade due to high energy prices sparked by Russia's invasion of Ukraine which will have severe ramifications on the labor market, according to Reuters.
IAB said Germany's price-adjusted GDP could be 1.7% lower in 2023, with approximately 240,000 job losses, adding labor market turmoil could last through 2026. It expects the labor market will begin rehealing by 2030 with 60,000 job additions.
The report pointed out the hospitality industry will be one of the biggest losers in the coming downturn that the coronavirus pandemic has already hit. Consumers who have seen their purchasing power collapse due to negative real wage growth as the highest inflation in decades runs rampant through the economy will reduce spending.
IAB said energy-intensive industries, such as chemical and metal industries, will be significantly affected by soaring power prices.
In one scenario, IAB said if energy prices, already up 160%, were to double again, Germany's economic output would crater by nearly 4% than it would have without energy supply disruptions from Russia. Under this assumption, 660,000 fewer people would be employed after three years and still 60,000 fewer in 2030.
This week alone, German power prices hit record highs as a heat wave increased demand, putting pressure on energy supplies ahead of winter.
Rising power costs are putting German households in economic misery as economic sentiment across the euro-area economy tumbled to a new record low. What happens in Germany tends to spread to the rest of the EU.
There are concerns that a sharp weakening of growth in Germany could trigger stagflation as German inflation unexpectedly re-accelerated in July, with EU-Harmonized CPI rising 8.5% YoY.
"We are facing the biggest crisis the country has ever had. We have to be honest and say: First of all, we will lose the prosperity that we have had for years," Rainer Dulger, head of the Confederation of German Employers' Associations, warned last month.
Besides Dulger, Economy Minister Robert Habeck warned of a "catastrophic winter" ahead over Russian NatGas cut fears.
Other officials and experts forecast bankruptcies, inflation, and energy rationing this winter that could unleash a tsunami of shockwaves across the German economy.
Yasmin Fahimi, the head of the German Federation of Trade Unions, warned last month:
"Because of the NatGas bottlenecks, entire industries are in danger of permanently collapsing: aluminum, glass, the chemical industry."
IAB's report appears to be on point as the German economy seems to be diving head first into an economic crisis. Much of this could've been prevented, but Europe and the US have been so adamant about slapping Russia with sanctions that have embarrassingly backfired.
“Anything But A Cashless Society”: Physical Money Makes Comeback As UK Households Battle Inflation
"Anything But A Cashless Society": Physical Money Makes Comeback As UK Households Battle Inflation
The World Economic Forum (WEF) has been…
The World Economic Forum (WEF) has been pushing hard for a 'cashless society' in a post-pandemic world, though physical money has made a comeback in at least one European country as consumers increasingly use notes and coins to help them balance household budgets amid an inflationary storm.
Britain's Post Office released a report Monday that revealed even though the recent accelerated use of cards and digital payments on smartphones, demand for cash surged this summer, according to The Guardian. It said branches handled £801mln in personal cash withdrawals in July, an increase of 8% over June. The yearly change on last month's figures was up 20% versus the July 2021 figure of £665mln.
Across the Post Office's 11,500 branches, £3.31bln in cash was deposited and withdrawn in July -- a record high for any month dating back over three centuries of operations.
The report pointed out that increasing physical cash demand was primarily due to more people managing their budgets via notes and coins on a "day-by-day basis." It said some withdrawals were from vacationers needing cash for "staycations" in the UK. About 600,000 cash payouts totaling £90mln were from people who received power bill support from the government, the Post Office noted.
Britain is "anything but a cashless society," according to the Post Office's banking director Martin Kearsley.
"We're seeing more and more people increasingly reliant on cash as the tried and tested way to manage a budget. Whether that's for a staycation in the UK or if it's to help prepare for financial pressures expected in the autumn, cash access in every community is critical," Kearsley said.
We noted in February 2021, UK's largest ATM network saw plummeting demand as consumers reduced cash usage. At the time, we asked this question: "How long will the desire for good old-fashioned bank notes last?
... and the answer is not long per the Post Office's new report as The Guardian explains: "inflation going up and many bills expected to rise further – has led a growing numbers of people to turn once again to cash to help them plan their spending."
So much for WEF, central banks, and major corporations pushing for cashless societies worldwide, more importantly, trying to usher in a hyper-centralized CBDC dystopia. With physical cash back in style in the UK, the move towards a cashless society could be a much more challenging task for elites than previously thought.
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