Penny Stocks To Buy Now? 7 Under $5 To Watch Before Next Week
Cheap penny stocks to watch before next week.
The post Penny Stocks To Buy Now? 7 Under $5 To Watch Before Next Week appeared first on Penny Stocks to…
Inflation has been a hot topic recently due to the latest PCE data. The index showed a higher-than-expected increase of 0.6% month-over-month and 4.7% over the last year. Investors are concerned as inflation can affect the stock market. But that may mean something different for those trading penny stocks.
Why Does Inflation Matter In The Stock Market Today?
To understand how inflation affects the stock market, we need to know what inflation is. It’s the rate at which the general level of prices for goods and services is rising. It’s usually measured by the CPI or PPI. High inflation can decrease a currency’s value, leading to higher prices for goods and services. This can lead to reduced consumer spending, negatively impacting the stock market.
Inflation can also cause interest rates to rise. That makes it more expensive for companies to borrow money. This can lead to a decrease in profits and, ultimately, a reduction in stock prices. While inflation affects the stock market, it doesn’t necessarily affect penny stocks. These low-priced stocks tend to move independently of broader trends. This makes them more attractive and can make them more volatile than other stocks. Retail traders are attracted to cheap stocks for quick profit and are susceptible to market fluctuations, including inflation.
Despite the general lack of correlation between inflation and low-priced stocks, there are still plenty to watch that are heading higher as broader markets drop lower. Let’s take a closer look at a few of these stocks and why they’re moving. This list of penny stocks continues the article Penny Stocks To Buy Now? 4 Under $5 To Watch Before Next Week.
Penny Stocks To Watch
GeneDx Holdings Corp. (WGS)
GeneDx is a company discussed earlier this month and a name that seems to have recently gained attention from retail traders. In the article “Penny Stocks To Buy: 4 To Watch With Big News In February,” the company was discussed alongside others that reached major milestones. WGS stock news was regarding its financing round with specifics about the use of proceeds (UOP) and who invested in the round. Among the UOP, strategic investment opportunities were mentioned. Furthermore, the company’s recent filings revealed a significant purchase from the Icahn Schoool Of Medicine At Mount Sinai. The organization purchased over 28.5 million shares at the offering price of $0.35.
Formerly known as Sema4, the company changed its name earlier this year to better convey its focus on genomic and clinical insights. GeneDx has centered its focus on delivering actionable and personalized health data to provide better diagnosis and improve drug discovery. Using genomic and clinical information allows for using exome and genome testing coupled with rare disease data sets in developing effective treatment plans. The latest big-money bets from the Icahn School and companies like Opko Health (NASDAQ: OPK) have brought some speculatively bullish attention to the company this quarter.
Fast-forward to this week, and GeneDx gave an update regarding the upcoming 2023 American College of Medical Genetics and Genomics (ACMG) Annual Clinical Genetics Meeting. It will contribute eight posters on March 15, demonstrating the company’s ability to leverage genetic data and technology to generate clinical insights. It will also report earnings a day earlier on March 14th.
Another one of the penny stocks heating up the scanners this week is Lucira Health. The company caught attention on Monday after announcing FDA-related news. It received FDA Authorization for its at-home combination of Covid-19 and Flu test.
“Our small but experienced team at Lucira has again demonstrated the versatility of our technology platform by introducing this first-of-its-kind innovation in clinically relevant at-home diagnostics to the marketplace. The authorization of the COVID-19 & Flu Home Test with OTC label is another example of how Lucira is helping to transform the future promise of home-based, fast, accurate diagnostics into a reality,” said Erik Engelson, President and CEO of Lucira Health.
The company also said it is seeking a strategic or financial partner for the resumption of manufacturing and development of additional home diagnostic products.
Protalix BioTherapeutics (PLX)
Biotechnology penny stocks have been hot lately; Protalix is a clear example. The company’s shares have been increasing explosively since November as it continues reaching new milestones. It utilizes its ProCellEx plat cell-based protein system to produce recombinant therapeutic proteins.
Late last year, the company announced FDA acceptance of a joint resubmission of an application for Fabry disease treatment. Protalix and Chiesi Global Rare Diseases announced the resubmitted and accepted Biologics License Application for PRX-102. Now all eyes are on the FDA’s next action date, May 9th, 2023. This is the Prescription Drug User Fee Act or PDUFA date for the outcome of the BLA. This month, the company said the European Medicines Agency’s Committee for Medicinal Products for Human Use adopted a positive opinion. It recommended marketing authorization for PRX–102 to treat adult patients with Fabry disease.
In a recent earnings update, Dror Bashan, Protalix’s President and Chief Executive Officer, explained, “We completed the pivotal parts of our PRX–102 phase III clinical program this year with the closeout of the BRIGHT and BALANCE trials, forming the basis for regulatory submissions to the EMA and U.S. Food and Drug Administration (FDA), both of which were accepted for review.”
PLX stock keeps heading higher as the market waits for more updates. Something to keep in mind, however, is that Protalix just filed a prospectus to offer up to $20 million in a stock offering. Whether or not it leads to dilution risk is to be seen. However, it’s something to remember if PLX stock is on your watch list.
BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals.
Credit: Impact Journals
BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals.
Impact Journals will be participating as an exhibitor at the American Association for Cancer Research (AACR) Annual Meeting 2024 from April 5-10 at the San Diego Convention Center in San Diego, California. This year, the AACR meeting theme is “Inspiring Science • Fueling Progress • Revolutionizing Care.”
Visit booth #4159 at the AACR Annual Meeting 2024 to connect with members of the Agingteam.
About Aging-US:
Agingpublishes research papers in all fields of aging research including but not limited, aging from yeast to mammals, cellular senescence, age-related diseases such as cancer and Alzheimer’s diseases and their prevention and treatment, anti-aging strategies and drug development and especially the role of signal transduction pathways such as mTOR in aging and potential approaches to modulate these signaling pathways to extend lifespan. The journal aims to promote treatment of age-related diseases by slowing down aging, validation of anti-aging drugs by treating age-related diseases, prevention of cancer by inhibiting aging. Cancer and COVID-19 are age-related diseases.
Agingis indexed and archived byPubMed/Medline (abbreviated as “Aging (Albany NY)”), PubMed Central, Web of Science: Science Citation Index Expanded (abbreviated as “Aging‐US” and listed in the Cell Biology and Geriatrics & Gerontology categories), Scopus (abbreviated as “Aging” and listed in the Cell Biology and Aging categories), Biological Abstracts, BIOSIS Previews, EMBASE, META (Chan Zuckerberg Initiative) (2018-2022), and Dimensions (Digital Science).
Please visit our website at www.Aging-US.com and connect with us:
NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism
One month after the inflation outlook tracked by the NY Fed Consumer Survey extended their late 2023 slide, with 3Y inflation expectations in January sliding to a record low 2.4% (from 2.6% in December), even as 1 and 5Y inflation forecasts remained flat, moments ago the NY Fed reported that in February there was a sharp rebound in longer-term inflation expectations, rising to 2.7% from 2.4% at the three-year ahead horizon, and jumping to 2.9% from 2.5% at the five-year ahead horizon, while the 1Y inflation outlook was flat for the 3rd month in a row, stuck at 3.0%.
The increases in both the three-year ahead and five-year ahead measures were most pronounced for respondents with at most high school degrees (in other words, the "really smart folks" are expecting deflation soon). The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) decreased at all horizons, while the median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—declined at the one- and three-year ahead horizons and remained unchanged at the five-year ahead horizon.
Going down the survey, we find that the median year-ahead expected price changes increased by 0.1 percentage point to 4.3% for gas; decreased by 1.8 percentage points to 6.8% for the cost of medical care (its lowest reading since September 2020); decreased by 0.1 percentage point to 5.8% for the cost of a college education; and surprisingly decreased by 0.3 percentage point for rent to 6.1% (its lowest reading since December 2020), and remained flat for food at 4.9%.
We find the rent expectations surprising because it is happening just asking rents are rising across the country.
At the same time as consumers erroneously saw sharply lower rents, median home price growth expectations remained unchanged for the fifth consecutive month at 3.0%.
Turning to the labor market, the survey found that the average perceived likelihood of voluntary and involuntary job separations increased, while the perceived likelihood of finding a job (in the event of a job loss) declined. "The mean probability of leaving one’s job voluntarily in the next 12 months also increased, by 1.8 percentage points to 19.5%."
Mean unemployment expectations - or the mean probability that the U.S. unemployment rate will be higher one year from now - decreased by 1.1 percentage points to 36.1%, the lowest reading since February 2022. Additionally, the median one-year-ahead expected earnings growth was unchanged at 2.8%, remaining slightly below its 12-month trailing average of 2.9%.
Turning to household finance, we find the following:
The median expected growth in household income remained unchanged at 3.1%. The series has been moving within a narrow range of 2.9% to 3.3% since January 2023, and remains above the February 2020 pre-pandemic level of 2.7%.
Median household spending growth expectations increased by 0.2 percentage point to 5.2%. The increase was driven by respondents with a high school degree or less.
Median year-ahead expected growth in government debt increased to 9.3% from 8.9%.
The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months increased by 0.6 percentage point to 26.1%, remaining below its 12-month trailing average of 30%.
Perceptions about households’ current financial situations deteriorated somewhat with fewer respondents reporting being better off than a year ago. Year-ahead expectations also deteriorated marginally with a smaller share of respondents expecting to be better off and a slightly larger share of respondents expecting to be worse off a year from now.
The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 1.4 percentage point to 38.9%.
At the same time, perceptions and expectations about credit access turned less optimistic: "Perceptions of credit access compared to a year ago deteriorated with a larger share of respondents reporting tighter conditions and a smaller share reporting looser conditions compared to a year ago."
Also, a smaller percentage of consumers, 11.45% vs 12.14% in prior month, expect to not be able to make minimum debt payment over the next three months
Last, and perhaps most humorous, is the now traditional cognitive dissonance one observes with these polls, because at a time when long-term inflation expectations jumped, which clearly suggests that financial conditions will need to be tightened, the number of respondents expecting higher stock prices one year from today jumped to the highest since November 2021... which incidentally is just when the market topped out during the last cycle before suffering a painful bear market.
Homes listed for sale in early June sell for $7,700 more
New Zillow research suggests the spring home shopping season may see a second wave this summer if mortgage rates fall
The post Homes listed for sale in…
A Zillow analysis of 2023 home sales finds homes listed in the first two weeks of June sold for 2.3% more.
The best time to list a home for sale is a month later than it was in 2019, likely driven by mortgage rates.
The best time to list can be as early as the second half of February in San Francisco, and as late as the first half of July in New York and Philadelphia.
Spring home sellers looking to maximize their sale price may want to wait it out and list their home for sale in the first half of June. A new Zillow® analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.
The best time to list consistently had been early May in the years leading up to the pandemic. The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later.
The 2.3% sale price premium registered last June followed the first spring in more than 15 years with mortgage rates over 6% on a 30-year fixed-rate loan. The high rates put home buyers on the back foot, and as rates continued upward through May, they were still reassessing and less likely to bid boldly. In June, however, rates pulled back a little from 6.79% to 6.67%, which likely presented an opportunity for determined buyers heading into summer. More buyers understood their market position and could afford to transact, boosting competition and sale prices.
The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year.
Mortgage rates have been impacting affordability and sale prices since they began rising rapidly two years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing.
Zillow’s research finds the best time to list can vary widely by metropolitan area. In 2023, it was as early as the second half of February in San Francisco, and as late as the first half of July in New York. Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year.
Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home. Meanwhile, homes in San Antonio sold for 1.9% more during that same time period.
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