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Here Are 3 Penny Stocks With Big News To Watch Closely Today

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It’s closing in on the weekend, but before the weekend gets here, we need to go over a few things. This week, we’ve seen several different penny stocks catch fire for double-digit and even triple-digit single day surges. Penny stocks are stocks that are $5 and less. For the most part, these penny stocks that went on big time runs this week were helped by major news headlines that became catalysts for a breakout.

For the most part, the coronavirus, ongoing protests, and news about the economy slowly opening back up have held strong as the leading headlines this week. As businesses around the U.S. have slowly been opening up, the overall market remained steady this week, but has shown a strong comeback after the coronavirus shut down the economy. The funny thing is, penny stocks have kept on chugging along the entire time.

Read More: These 3 Penny Stocks Have Big Recent News… Got Them On Your Radar?

Why is that? Well, as I mentioned earlier, these stocks are $5 or fewer, but there are a lot of other factors to take into account. Many of these stocks also have a low float. This means there are only a few shares available for trading. So, when a major news headline comes out with significant information about a company’s doings, it can create a ton of momentum if traders all decide to jump in. That said, here are a couple penny stocks with recent news that you should monitor before the weekend.

Your No.1 Penny Stock To Watch Before This Weekend: LightInTheBox Holding Co., Ltd.

LightInTheBox Holding Co., Ltd. (NYSE: LITB), together with its consolidated subsidiaries, engages in the online retailing of various products and services to consumers worldwide. It provides customized, special occasion, and fast fashion apparel products; and other general merchandise products, such as accessories and gadgets, home garden products, electronics and communication devices, and other products. The company offers its products primarily through,, and, as well as through mobile applications. It also provides mobile application software development and information technology support services.

LightInTheBox Holding Co., Ltd. announced its unaudited financial results for the first quarter ended March 31, 2020.

First Quarter 2020 Highlights

  • Total revenues increased 1.3% year-over-year to $51.5 million.
  • Gross margin expanded further to 46.4% from 40.4% last quarter and 34.8% in the same quarter of 2019.
  • Third consecutive quarter of GAAP profitability despite impact from COVID-19 pandemic with net income of $0.7 million, compared with a net loss of $14.1 million in the same quarter of 2019.
  • Adjusted EBITDA improved significantly, increasing to earnings of $1.4 million, compared with a loss of $7.9 million in the same quarter of 2019.
  • Mr. Jian He, Chief Executive Officer of LightInTheBox, commented, “We responded quickly and decisively to the outbreak of COVID-19 by implementing a number of strategic initiatives to provide us with the flexibility needed to adapt to a challenging global economic environment. Seasonally, the first quarter is generally the slowest quarter of the year, so the COVID-19 induced economic disruption made the operating environment even more difficult. We took advantage of the temporary slowdown to deepen relationships with high-quality suppliers, optimize our product portfolio and category mix, and improve order fulfillment speed. We also prioritized the health and safety of our employees to ensure business continuity and adequately prepare for the resumption of normal operations while demonstrating our commitment to corporate social responsibility by including free medical face masks in numerous orders shipped to markets that were being impacted heavily by the pandemic. Despite the challenging operational environment, our financial results this quarter are a reflection of our ability to adapt and is highlighted by our third and consecutive quarter of GAAP profitability which I believe demonstrates the long-term growth trajectory we are on. We remain focused on executing our strategy and are very encouraged by our improvements to date. We are already starting to see certain product categories regain strong growth momentum towards the end of the second quarter as global markets begin re-opening and expect that both our operating and financial results will continue to improve going forward.”

Your No.2 Penny Stock To Watch Before This Weekend: Pintec Technology Holdings Limited

Pintec Technology Holdings Limited (Nasdaq: PT), through its subsidiaries, operates an online technology platform that enables financial services in the People’s Republic of China. The company connects business partners and financial partners on its open platform and enables them to provide financial services to end users. Its technology platform includes a lending solution for borrowers to originate loans; a lending solution for borrowers who want to finance online purchases; and a wealth management solution for asset management companies and insurance companies to facilitate the sales of products.

Pintec Technology Holdings Ltd. announced that it has expanded its cooperation with China Telecom Bestpay (“Bestpay”), a wholly-owned subsidiary of China Telecom Corporation Limited (“China Telecom”) and one of the largest payment platforms in China, to provide intelligent handset installment services to Bestpay’s government and enterprise customers. The Company began working with Bestpay to expand its cooperation scope in March 2020.

Leveraging PINTEC’s technological expertise, Bestpay has launched its handset financing product Chengfenqi to provide individual customers with intelligent installment payment services. Both parties have decided to develop the Chengfenqi product for government and large enterprise employees, which is a group of customers generally characterized by above-average credit quality. By utilizing the Company’s intelligent credit solutions, Chengfenqi is able to reduce the cost of financing for the targeted customer group and thus enable these customers to purchase handsets that are within their range of credit through installment payments.

PINTEC originally established its cooperation with Bestpay in February 2017 to provide technical support in the development of Bestpay’s financing products. These products, jointly developed by both parties, are currently available in over 70,000 China Telecom retail stores throughout 432 cities in 29 provinces across China. In 2019, those financing services that the Company jointly developed with Bestpay generated a total loan volume of RMB513 million.

“In order to fully satisfy the financing needs of Bestpay’s government and enterprise customers, we have further refined our service offerings and existing product matrix to develop financing solutions tailored to the specific needs of the targeted customer profile. Going forward, we plan to continue utilizing our extensive service experience and fintech expertise to provide Bestpay with advanced technical support,” commented PINTEC.

Your No.3 Penny Stock To Watch Before This Weekend: Comstock Holding Companies, Inc.

Comstock Holding Companies, Inc. (Nasdaq: CHCI) operates as a real estate assets management and services company. The company operates through two segments, Asset Management and Real Estate Services. It offers commercial real estate and asset management services for rental apartments, office buildings, hotels, commercial garages, leased lands, retail properties, mixed-use developments, and transit-oriented developments. The company also provides real estate services in the areas of strategic corporate planning, capital markets, financial consulting, commercial mortgage brokerage, title, and environmental and design-based services. In addition, it offers environmental services, including consulting, environmental studies, remediation, and industrial hygiene services, as well as site specific solutions. Further, the company provides construction management and supervision services.

Comstock Holding Companies, Inc. announced that its capital markets group arranged a $73 million loan with Federal Home Loan Mortgage Corporation (“Freddie Mac”) for the BLVD I luxury apartment tower located at 1908 Reston Metro Plaza in the center of Comstock’s Reston Station development in Reston, Virginia. Comstock Real Estate Services, LC (“CRES”), a wholly owned subsidiary of Comstock arranged the non-recourse construction take-out loan on behalf of CRS BLVD I, LC, one of Comstock’s managed companies. The Freddie Mac loan replaces the maturing construction loan originally provided by Citizens Bank and has a ten-year term and an annual interest rate of 3.0%.

The 448-unit BLVD I was developed by Comstock and opened in 2016. Its location on Reston’s Metro Plaza positions residents within a few steps of the north entrance of the Wiehle-Reston East Metro Station at the Phase I terminus of Metro’s Silver Line. The BLVD I tower is one of the most highly amenitized apartment buildings in the Dulles Corridor, with a 21st floor rooftop Resident’s Club that includes a fitness facility, outdoor pool, club room, game room, and demonstration kitchen. The property also includes an expansive sky-park on the 9th floor with multiple gas cooking stations, an outdoor serving kitchen, dining areas, restrooms, landscaped gardens, and a large open turf area. The BLVD tower’s lobby level includes a 24-hour concierge service, a self-service package room, resident’s business center, conference room, library, and multiple social spaces. The property is also equipped with a secured garage, and indoor and outdoor dog parks.

Comstock, through its real estate services subsidiary, CDS Asset Management Comstock (“CDS”), also announced it had completed the purchase of a vacant parcel of land from Fairfax County on behalf of another of Comstock’s managed companies, CRS Sunset Hills, LC (“CRS”). The approximately 1-acre parcel is situated at the intersection of Reston Station Blvd and Wiehle Avenue directly across from the Metro Plaza District @ Reston Station and the Wiehle Reston-East Metro Station. The acquisition represents the final of 32 individual parcel acquisitions consolidating 8-acres that will be developed by Comstock as Phase II of Comstock’s Reston Station development. The Company expects to commence development of Phase II, to be known as The Reston Row District @ Reston Station, in the coming months. The Reston Row District is approved for approximately 1.35 million square feet of development, including a 295-room Marriott branded full-service hotel and condominium tower with an approximately 15,000 square foot conference center occupying the entire 2nd floor and 90 condominiums located at the top of the hotel/condo tower. In addition, plans for the next phase of Reston Station include two new Class-A office buildings, approximately 300 apartments, additional retail, multiple outdoor social spaces and a large central park, and two parking garages.

In 2019, Comstock’s Reston Station development was among the most active lease-ups in the Washington, DC area, with Comstock securing more than 500,000 square feet of office leases with a number of high-quality tenants, including Google, Neustar, ICF International, Spaces by Regus, Rolls Royce, CACI, Kimley Horn, SAIC, Certipath, Megaphone, and others. Current and coming soon retail and service-oriented tenants include Starbucks, CVS, Founding Farmers, Davio’s Italian Steakhouse, Matchbox, Big Buns Burgers, Wells Fargo, M&T Bank, Salon Nordine, and a dedicated electric vehicle super charging station. Comstock is currently negotiating with multiple well-known office and retail tenants, with additional lease announcements expected in 2020.

“We are excited to report on the continued progress at Reston Station” said Chris Clemente, CEO of Comstock. “These recent transactions, as well as the upcoming development of the next phase of Reston Station is consistent with our mission of enhancing shareholder value as each transaction and new development activity generates fee based revenue that is additive to the cost-plus, long-term asset management agreement covering our “Anchor Portfolio”, which includes the Reston Station and other assets. Such development activities, as well as our acquisition of stabilized buildings, further increases our assets under management.”

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