High-Volume Penny Stocks to Watch Right Now
As another week in April comes to an end, what are the best penny stocks to watch right now? While this is not a simple question by any means, there are some solid examples of penny stocks that could be worth a closer look. This is due to a combination of fundamental confidence in a company’s business model and belief in its short or long-term future.
With biotech penny stocks, these principles are largely the same with one or two exceptions. Those being, what does it have in its pipeline, and how far along are those compounds or devices? This is the best way to tell whether investors can expect short-term speculative gains or long-term stable gains with certain penny stocks.
So with this in mind, where does the market stand right now in April 2021? Well, only a day ago, stocks were mostly mixed, as investors await the beginning of the Q1 2021 earnings season. On April 8th, tech stocks led gains, with Alphabet Inc. (NASDAQ: GOOGL), Facebook Inc. (NASDAQ: FB), and others hitting all-time highs. On April 9th, the focus is on biotech.
Penny Stocks Boosted By Reopening Sentiment
The bullish sentiment in the stock market right now seems to be driven by the hopes that the pandemic will soon come to an end.
“A big part of this is making sure the vaccine-led recovery is firmly rooted, and that won’t be clear until somewhere in the second half of this year. So it’s possible that as we look out to the late summer timeframe or early fall that that’s something we could consider at that point.”
Jeffrey Kleintop, an analyst at Charles Schwab
Yes, there are a lot of unknowns right now. But the groundwork in place could provide a launching point for the next phase of economic reopening.
4 High-Volume Penny Stocks to Watch Right Now
As for biotech, there is a lot going on in the market right now. While some companies are seeing interest as a result of Covid-related treatments, others are simply seeing a correlative gain from the pandemic. Regardless, 2021 is proving to be the year of biotech penny stocks. And with so many to choose from, it all comes down to finding the best ones to watch. Considering all of this, let’s take a look at four high-volume penny stocks to watch right now.
Mereo Biopharma Group Plc.
Mereo Biopharma is a biopharmaceutical company working on a range of innovative therapeutics. This includes those used in the treatment of oncological disorders and rare diseases. Right now, Mereo has six clinical-stage products. Its leading product, known as etigilimab (Anti-TIGIT), is advancing into a Phase 1b/2 basket study that will evaluate its efficacy in treating certain cervical, ovarian and endometrial carcinomas. The next runner-up is navicixizumab, used in the treatment of late line ovarian cancer.
At the end of March, Mereo reported its…