The stock market saw something it hasn’t in quite some time: a full halt. At the open today, the S&P opened roughly 7% lower than its previous closing price on Friday. Which then triggered a circuit breaker halt for 15 minutes.
While many blue-chip stocks have gotten a lot of the attention the past week, you can’t count out penny stocks whatsoever. In fact, if it weren’t for penny stocks, there likely wouldn’t be the speculative coronavirus stocks that so many traders have cashed in on over the last few weeks. Needless to say, some of the hottest sectors right now are in precious metals, biotech, and even real estate. These have served as potential hedges against the COVID-19 threat right now.
Best Penny Stocks To Watch: International Land Alliance
The first on this list of penny stocks is International Land Alliance. Like many lower-float penny stocks, it has seen its share of volatility over the past few months. Shares of ILAL stock have jumped between lows of $0.62 and highs of $1.41 this year, alone. Furthermore, the attention that the real estate sector has received could be a glaring indication that the market is looking for new options.
Just last week we saw several real estate penny stocks jump up big. Ashford Hospitality has rallied over 20% since last Friday while Washington Prime Group jumped over 35%. International Land Alliance could be one of the next real estate development penny stocks to watch. The company has it has just begun expansion into an area rich in culture but more importantly a high-value location targeted by several markets that are rapidly growing.
It’s also worth mentioning that this particular area of Northern Baja California, Mexico has quickly become a hotbed for tourism and even baby boomers looking to relocate. Tourism officials in Baja California expect to see a 5 to 7 percent increase in tourists in 2019, according to Baja California’s Secretary of Tourism Óscar Escobedo Carignan. With a current portfolio of properties appraised at a higher valuation than its actual market cap, it stands to reason that ILAL stock could be one to take notice of as other real estate names have started to climb.
Penny Stocks To Trade [or watch]: Inovio Pharmaceuticals *NEWS UPDATE*
One of the actual coronavirus penny stocks to watch has been Inovio Pharmaceuticals. I say “actual” because the company is “actually” reporting news directly related to addressing coronavirus cases. In fact, this week the company reported that by the end of the year the company could deliver 1 million doses of coronavirus vaccine. Joseph Kim also explained that the company does need help scaling, according to Reuters.
As discussed last week Innovio’s vaccine contains DNA with the genetic code of coronavirus. It was also able to design it within hours of learning the generic sequence in January. Additionally, Inovio is working with the Wistar Institute in Philadelphia and two other companies to develop a solution. It expects to begin human testing in a few months.
*UPDATE* On March 3, 2020 Inovio reported that it plans to begin human clinical trials of its coronavirus vaccine in April and “soon thereafter in China and South Korea.”
As one of the companies we’ve tracked since before the start of the coronavirus craze, INO stock has managed to climb significantly. In December, we discussed consistently when the company’s VGX-3100 vaccine was getting attention. It’s meant to stimulate a patient’s immune system to tackle pre-cancerous lesions. Fast-forward to March and it’s begun to apply its pipeline to addressing COVID-19.
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Best Penny Stocks To Buy [or avoid]: Novan Inc.
Next, amid a sea of red today, Novan Inc. (NOVN-Free Report) has surged higher. Shares of NOVN stock managed to reach new March highs of $0.53 on March 9. This comes on the heels of new coronavirus cases over the weekend. The company recently closed a $5.95 million public offering to fund more R&D at the company.
The company has been focusing on diseases that affect the immune system. While its pipeline includes treatments for things like STDs and Dermatological treatments, immune treatment-related companies have been getting a lot of attention by those looking at coronavirus stocks. In addition, it’s important to note that the company does have experience dealing with treatments for viral infections.
Last month the company updated shareholders on progress being made with the FDA in regards to its Phase 3 B-SIMPLE program for its molluscum contagiosum treatment. Will the company actually target COVID-19? That’s yet to be seen but it makes sense NOVN stock is getting attention as most companies with any treatment for viral infections is seeing speculative action this quarter.
Disclaimer: Eastmoneystocks.com is owned and operated by Midam Ventures, LLC. Pursuant to an agreement between Midam Ventures LLC and International Land Alliance (ILAL), Midam is being paid $225,000 for a period from January 31, 2020, to May 18, 2020. We may buy or sell additional shares of International Land Alliance (ILAL) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about International Land Alliance (ILAL). Read our full disclaimer here.