In the penny stock world, all it may take sometimes is just a hint of good company news that can turn the market on its head. That said, it’s important to look into a stock’s share structure at the same time because that may directly impact how fast a penny stock moves (whether up or down). The term you associate with this structure is its “float.”
The smaller the float of a stock, the more volatility potential it can pack. Here’s what you need to know. The fewer the shares available in the open market means the lower the float. When good news hits and there is high demand for a penny stock with a low float, its share price can go soaring. Obviously, if there is a huge supply of available shares, a penny stock may not move as quickly.
A lot of the time, people are not looking to invest (long-term), in penny stocks with a low float. They are looking to get in and out on a major price spike. It is a high risk situation because just as quickly as a penny stock rises, it can also sink. It’s important to take note of all the different potential catalysts for a penny stock, including fundamentals before getting involved. Sure, news may be a good place to start, but a lot more research should go into making any market-related decisions. To get you started off on the right foot today, check out these 3 penny stocks with significant news.
Your No. 1 Top Penny Stock To Watch This Friday: Bionano Genomics, Inc.
Bionano Genomics, Inc. (Nasdaq: BNGO) operates as a life sciences instrumentation company in the genome analysis space. The company develops and markets the Saphyr system, a platform for ultra-sensitive and ultra-specific structural variation detection that enables researchers and clinicians to accelerate the search for new diagnostics and therapeutic targets, and to streamline the study of changes in chromosomes, which is known as cytogenetics. Its Saphyr system includes an instrument, chip consumables, reagents, and a suite of data analysis tools. The company’s Bionano prep kits and labeling kits provide the critical reagents and protocols needed to extract and label high molecular weight DNA for use with the Saphyr system; and data solutions offering includes a suite of hardware and software for end-to-end experiment management, algorithms for assembling genome maps, and algorithms and databases for bioinformatics processing.
Bionano Genomics, Inc. announced that it has launched the new Bionano PrepTM SP Tissue and Tumor Kit, a DNA isolation kit developed expressly for analysis of tumors and tissue with Bionano’s Saphyr system. The kit has been designed to simplify isolation of Ultra High Molecular Weight (UHMW) DNA from a variety of solid tumors and tissue types. The new kit and protocol for the Saphyr system make the analysis of genomic rearrangements in cancer and model genomes that are of interest in pharmaceutical development simpler and more feasible than currently available methods.
The new Bionano Prep SP Tissue and Tumor Kit allows for the consistent isolation of UHMW DNA in less than six hours from what is traditionally a difficult and highly complex sample type. Human and animal tissues and tumors vary widely and depending on the organ of origin, can contain high levels of fats or carbohydrates that can compromise the quality of the sequencing or optical mapping data. The new kit and related protocol enable consistent isolation of high quality UHMW DNA from as little as 5 mg of fresh or frozen tissue and tumor material, facilitating routine analyses from small amounts of starting material, such as those likely to be obtained from a needle aspirate. The new kit was successfully validated on a wide variety of tumors and tissues (bladder, lung, liver, kidney, colon, breast, prostate, brain, thyroid, ovary, testes and uterus).
DNA isolated with the kit is of unprecedented length, resulting in isolation of molecules up to megabase lengths. Genome imaging on the Saphyr system takes advantage of these extremely long molecules to detect all types of structural variants genome-wide in an unbiased fashion. In a single run, Saphyr can image enough molecules to span over 1,500x coverage of a human genome. This depth of coverage enables the detection of structural variants present in as little as 1% variant allele fraction. Altogether, the new kit for isolation of DNA from tissue and tumor, the high-throughput automated genome imaging on Saphyr, and the fully automated variant calling form a simplified, streamlined workflow for variant analysis from tissues and tumors.
Brandon LaBarge, MD, from the Penn State College of Medicine, who was part of the multisite early access to the new DNA isolation method, commented: “Earlier methods to purify long DNA involved agarose plugs and a tedious protocol with manual washing and digesting steps, taking up to three days to run four samples. These older methods provided inconsistent results, with several tumor samples failing altogether or generating limited throughput. With the new Bionano Prep SP Tissue and Tumor Kit, we were able to isolate ultra-high molecular weight DNA in less than six hours on six samples at a time, generating a consistent, high throughput on a variety of head and neck cancers.”
Mark Oldakowski, Bionano’s Chief Operating Officer commented: “With the launch of the Bionano Prep SP Tissue and Tumor Kit, we are bringing the speed, ease of use and DNA quality of our extremely popular SP kits to the most difficult and complex human sample types. By making the DNA isolation simpler, faster, and less expensive, we enable the routine analysis of solid tumors. Additionally, the new kit enables faster and streamlined processing of a variety of animal tissues, which we anticipate will greatly simplify the work of large consortia such as the Vertebrate Genome Project and work on model genome analysis for pharmaceutical research and development. Our next software release planned for later this summer is expected to make structural variant calling from non-human organisms more powerful and straightforward than before, and to maximize the benefit of our new DNA isolation kit.”
Your No. 2 Top Penny Stock To Watch This Friday: WiMi Hologram Cloud Inc.
WiMi Hologram Cloud Inc. (Nasdaq: WIMI) provides augmented reality (AR) based holographic services and products in China. It operates in two segments, Augmented Reality, and AR Entertainment. The company primarily offers holographic AR advertising services and holographic AR entertainment products. Its holographic AR advertising software enables users to insert into video footage real or animated three dimensional objects; and online holographic AR advertising solution embeds holographic AR ads into films. The company’s holographic AR entertainment products consist primarily of payment middleware software, game distribution platform, and holographic mixed reality software.
As a leader in holographic vision, WIMI Hologram Cloud specializes in computer vision holographic cloud services. WIMI cover from the holographic AI computer vision synthesis, holographic visual presentation, holographic interactive software development and holographic AR online and offline advertising, holographic ARSDK pay, 5 g holographic communication software development, holographic face recognition and development, holographic AI in face of the development of the technology such as holographic AR multiple links, holographic cloud is a comprehensive technology solutions provider. Its business application scene is mainly gathered in five professional fields, such as home entertainment, lightfield cinema, performing arts system, commercial release system and advertising display system.
With the change of 5G holographic communication network bandwidth conditions, 5G holographic application market will usher in the explosion, holographic interactive entertainment, holographic conference, holographic conference and other high-end applications are gradually popularized to holographic social networking, holographic communication, holographic navigation, holographic family applications and other directions. WIMI plans to use holographic AI face recognition technology and holographic AI face changing technology as the core technologies to support holographic cloud platform services and 5G communication holographic applications with multiple innovative systems.
Your No. 3 Top Penny Stock To Watch This Friday: Hermitage Offshore Services Ltd.
Hermitage Offshore Services Ltd. (NYSE: PSV), together with its subsidiaries, engages in offshore support vessel business primarily in the North Sea and off the coast of West Africa. It owns and operates a fleet of 23 vessels comprising of ten platform supply vessels, 11 crew boats, and 2 anchor handling supply vessels.
Hermitage Offshore Services Ltd. announced that it has executed a forbearance agreement (the “Forbearance Agreement”) to its $132.9 Million Term Loan Facility dated January 14, 2020 (the “Term Loan Facility”) with DNB Bank ASA and Skandinaviska Enskilda Banken AB (publ) (together, the “Lenders”) and DNB Bank ASA, as agent and security agent. While the Forbearance Agreement does not address the long-term liquidity and restructuring needs of the Company, pursuant to the terms of the Forbearance Agreement, the Lenders have agreed to forbear from exercising any of their rights and remedies under the Term Loan Facility and any other finance agreements related to the Term Loan Facility in the event of a default by the Company until July 31, 2020.
As previously announced, the outbreak of the novel coronavirus coupled with the collapse in the price of crude oil has resulted in a significant and abrupt deterioration in the financial condition of the Company. These events have given rise to substantial doubt about the Company’s ability to continue as a going concern. As a result, the Company has engaged Perella Weinberg Partners and Snapdragon Advisory AB as financial advisors and Proskauer Rose LLP as legal counsel to analyze restructuring alternatives and has been in ongoing discussions with the Lenders in an effort to address these issues.