The 10 BEST Coronavirus Stocks to Watch Right Now
Dear Penny Stock Millionaire,
Like I said in yesterday’s issue, we are in a hot hot HOT sector right now. It’s like when bitcoin was hot. The same goes for Ebola, police equipment, weed stocks, oil, low float… whatever the hot sector. When it’s hot, it’s hot — and headlines create demand. So watch for news and press releases.
I’ve put together a list of the 10 penny stocks that I’m watching right now starting with…
Opko Health (NASDAQ: OPK)
OPK is a coronavirus testing play. The stock spiked on March 5 after the company issued a press release. That announced it would offer coronavirus testing beginning this week. Trading Challenge mentor Mark Croock reportedly banked $18K** holding OPK overnight.
Here’s the OPK three-month chart:
OPK chart: 3-month, daily candle, best coronavirus stocks — courtesy of StocksToTrade.com
Croock laid this all out last week in this tweet…
If you missed my last webinar be sure to watch the archived recording as I go through $OPK research real-time showing students real time how to dip buy the stock at $2 before it spiked 40% & I locked in $18k’ish profits only for @timothysykes
OPK is down a ton off its highs but I’m still watching for any sign of a bounce.
Enzo Biochem, Inc. (NYSE: ENZ)
ENZ is another coronavirus testing play. On March 6, the company announced it would start accepting specimens for testing this week. The stock spiked 114% over the weekend.
ENZ chart: 5-day, 1-minute candle, premarket coronavirus spiker — courtesy of StocksToTrade.com
I took a rare premarket trade on this one — a classic case of the early bird catches the worm. It’s a PERFECT example of what you can do on these coronavirus stocks with breaking news if you’re prepared.
Again, ENZ is way off its highs. But a press release or positive coronavirus news could bring it back into play.
GenMark Diagnostics, Inc. (NASDAQ: GNMK)
GNMK is yet another coronavirus test play. The stock spiked on March 2 after the company announced initial shipments of research only test kits to Hong Kong and several U.S. customers.
Take a look at the GNMK ten-day chart:
GNMK chart: 10-day, 1-minute candle, ugly price action coronavirus runner — courtesy of StocksToTrade.com
As you can see from the chart, the price action was ugly. GNMK is a great example of understanding the right conditions to short. If a stock starts failing — especially on green to red price action — that’s a possible short entry.
On March 9, I bought GNMK on a nice dip off its recent highs for a $1,050 win.
Inovio Pharmaceuticals, Inc. (NASDAQ: INO)
Inovio Pharmaceuticals develops DNA-based vaccines. On March 3, the company announced an accelerated timeline for a SARS-CoV-2 vaccine with human trials to start in April. The stock went from roughly $5 to $19 in five days.
Here’s the INO six-month chart:
INO chart: 6-month, daily candle, coronavirus supernova — courtesy of StocksToTrade.com
I was in INO … I bought in the $9s and sold in the $10s. But it was scary — so I was happy for the win.
Tim Grittani reported a much bigger position and made around $3 per share for a $97K win.
All I could say was…THAT. IS. AWESOME!
Novan Inc. (NASDAQ: NOVN)
NOVN had a big after-hours spike on March 9. This is a connect-the-dots scenario — this 2005 study claims nitric oxide inhibits the replication cycle for SARS.
Take a look at the NOVN one-month chart:
NOVN chart: 1-month, 1-minute candle, coronavirus sympathy play — courtesy of StocksToTrade.com
Novan focuses on products that use nitric oxide. So even though the company isn’t pursuing coronavirus treatments, the stock spiked. That’s sector hype.
Cocrystal Pharma, Inc. (NASDAQ: COCP)
COCP spiked on February 24. The catalyst was a license deal with Kansas State University for a potential coronavirus treatment. Then it spiked again on March 6 when the company announced it was advancing the coronavirus program.
COCP chart: 15-day, 5-minute candle, bought into an offering — courtesy of StocksToTrade.com
COCP serves a couple of lessons. I bought COCP the same minute the company announced an offering. (See the long red candle on March 9.) The big lesson is to be extra-careful on all these stocks because they move FAST!
The other lesson is to cut losses quickly and move on. There will be other plays. The last thing you should do is hold and hope.
Aytu BioScience Inc. (NASDAQ: AYTU)
AYTU was the big winner on March 10 on news of a distribution deal for a COVID-19 test. At one point the stock was up over 700%. It also got halted several times due to volatility.
AYTU chart: March 10 intraday, 1-minute candle, coronavirus short squeeze — courtesy of StocksToTrade.com
AYTU turned into a massive short squeeze. I don’t like playing short squeezes but several students reported doing well…
Spherix Incorporated (NASDAQ: SPEX)
SPEX was a big after hours mover on March 6. The company announced an option agreement with the University of Maryland, Baltimore for a coronavirus treatment.
Here’s the SPEX five-day chart:
SPEX chart: 5-day, 1-minute, coronavirus spiker — courtesy of StocksToTrade.com
SPEX continued to run in premarket trading on March 9 before dropping $2 a share after a direct offering priced at the market. It’s still on my watchlist. I’m watching for any signs of bouncing — ideally with a press release or positive coronavirus news.
Co-Diagnostics Inc. (NASDAQ: CODX)
CODX has been on my watchlist since February. That’s when the company announced its COVID-19 testing kit received regulatory clearance for the European market. The stock ran from $4.42 to $21.75 in three days.
Here’s the CODX three-month chart:
CODX chart: 3-month, daily candle, coronavirus runner — courtesy of StocksToTrade.com
CODX spiked again after hours on March 10 after a strong buy recommendation by an analyst at H.C. Wainwright. In premarket trading on March 11 it’s up 20%.
Guardion Health Sciences Inc. (NASDAQ: GHSI)
Guardion announced a partnership with a Malaysian company to develop an immune-supportive formula. The press release specifically denies the formula will address COVID-19 symptoms. But as so often happens with penny stocks, just mentioning the hottest word in the market spiked the stock.
Here’s the GHSI 15-day chart:
GHSI chart: 15-day, 1-minute candle, coronavirus sympathy play — courtesy of StocksToTrade.com
I traded GHSI on late-day strength on March 10 for a nice little win. It was a speculative trade so I followed my own suggestion below.
The Bottom Line
Keep an eye on these stocks in the coming weeks, you might find that you have an opportunity to make some money in this falling market.
Right now trading blue chips is like trying to catch a falling knife. Don’t take the risk.
Study hard, do your research, and join me and my followers as we continue trade this hot sector.
Editor, Penny Stock Millionaires