When you think about penny stocks, what comes to your immediate attention? Typically, I think they have negative connotations which stem from them being low in price. They also get a bad connotation from shady companies that aren’t on the up-and-up having a stock that trades under $5. I guess the real question is, are they worth researching?
Here’s the deal: in the penny stock world, there is never a boring moment. Speculative momentum can flood into one of these stocks under $5 and send it soaring in the short-term. This comes from potential catalysts like news, filings, and more. Some of these moves can be long-lasting, but for the most part they are on the short end.
In the first 6 plus months of 2020, we’ve seen several penny stocks go on short-term runs from under $5 all the way north of $20. For many of these penny stocks, these runs have set not only 52-Week highs, but also all-time highs for these stocks. With major news like the coronavirus giving life to several bio-related penny stocks, you need to keep an eye on any company producing pandemic related news. That said, there are a lot of things going on in the world, including ongoing protests and the economy being in flux over opening back up or staying closed, that can influence penny stocks. Here are 3 to pay attention to with huge news.
Your Top #1 Penny Stock To Watch This Wednesday: Party City Holdco Inc.
Party City Holdco Inc. (NYSE: PRTY), through its subsidiaries, designs, manufactures, sources, and distributes party supplies in the United States and internationally. The company operates in two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts, and stationery. As of August 8, 2019, the company operated approximately 900 specialty retail party supply stores, including franchise stores throughout North America under the Party City and Halloween City names, as well as e-commerce Websites principally through the domain name PartyCity.com. Party City Holdco Inc. offers its products through company-owned stores, independent party supply stores, mass merchants, grocery retailers, and dollar stores.
Party City Holdco Inc. announced that it received written notification from the New York Stock Exchange (the “NYSE”) that it has regained compliance with the NYSE continued listing standards.
Brad Weston, Chief Executive Officer, stated, “We are pleased to have regained compliance with all NYSE listing requirements. We remain focused on our strategic plan, including initiatives underway to support our financial strength and establish Party City as the destination of choice for all things celebration.”
As previously disclosed, on April 9, 2020, the Company received formal notice from the NYSE that it was not in compliance with the NYSE’s continued listing standards as a result of the average closing price of the Company’s common stock being less than $1.00 per share over a consecutive 30 trading-day period.
The Company regained compliance after its closing share price on June 30, 2020 and its average closing share price for the 30 trading-day period ending June 30, 2020 both exceeded $1.00. Accordingly, the Company has resumed compliance under the NYSE continued listing standards and the “.BC” indicator following the Company’s symbol “PRTY” will be removed by the NYSE.
Your Top #2 Penny Stock To Watch This Wednesday: AMC Entertainment Holdings, Inc.
AMC Entertainment Holdings, Inc. (NYSE: AMC), through its subsidiaries, involved in the theatrical exhibition business. The company owns, operates, or has interests in theatres. As of March 17, 2020, it operated approximately 1,000 theatres and 11,000 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas.
Shares of AMC Entertainment Holdings Inc. surged nearly 14% in after-hours trading Tuesday following a Wall Street Journal report that said the company was nearing a restructuring deal that would stave off bankruptcy in the near term. AMC will reportedly reject a financing offer from lenders including Apollo Global Management, in favor of a $200 million financing effort led by Silver Lake Group, coming on top of $200 million in financing from junior bondholders. AMC has seen its bottom line crushed as it had to shut more than 1,000 theaters worldwide due to the coronavirus pandemic. Its U.S. theaters are now scheduled to reopen on July 30. In June, AMC warned of a first-quarter net loss of as much as $2.417 billion.
Your Top #3 Penny Stock To Watch This Wednesday: ATIF Holdings Limited
ATIF Holdings Limited (Nasdaq: ATIF) provides financial consulting services to small and medium-sized enterprises in Asia. The company offers “going public” consulting services. It also operates chinacnnm.com, a news and media Website that provides social news and financial information to the Asian region.
ATIF Holdings Limited announced it has acquired approximately 6.56 percent of ownership stake in AeroCentury Corp. (NYSE American: ACY, “AeroCentury”) by purchasing 101,367 shares of common stock of AeroCentury for an average of $2.804 per share through various open market transactions.
AeroCentury is an independent global aircraft operating lessor and finance company specializing in leasing regional jet and turboprop aircraft and related engines. AeroCentury’s aircraft and engines are leased to regional airlines and commercial users worldwide.
Mr. Jun Liu, CEO and Director of ATIF, commented, “We are of the view that the common stock of AeroCentury is currently undervalued after careful analysis of its fundamentals and growth potential as well as overall market environment. We believe AeroCentury has a promising future and we expect to create long-term value for our investors through this investment.”