Wall Street continues to maintain near its record highs, while penny stocks continue to thrive, although not even close to the crazy rally seen in February.
Nasdaq closed at its record high again on Thursday, even though the tech sector declined.
The solid corporate earnings season and expectations that the Federal Reserve would continue to support the economy give a boost to investor confidence. However, we still don’t know the Fed’s tapering schedule.
Jason Pride, chief investment officer of private wealth at Glenmede, told Reuters:
“I feel like sometimes we end up trying to read the tea-leaves too hard, and the Fed has been pretty good on communicating on (tapering),” noting that the central bank gave clear indications that it would start reverse the ultra easy monetary policy by year end.
Some investors expect that the resurgence of the Delta variant would force the Fed to continue pumping money into the economy.
Meanwhile, Thursday data showed that the number of US citizens filing new jobless claims declined last week, although the much-awaited Nonfarm Payrolls data would be decisive for the central bank.
No matter what the Fed decides, this time of recovery is great for penny stock investors, and if the Delta variant delays the recovery, we’ll be patiently waiting for another major surge when business returns to normal again.
FINDING OPPORTUNITIES IN TOP PENNY STOCKS TODAY
There are plenty of opportunities for investors if they follow us here at Insider Financial.
The key to trading stocks is finding the momentum BEFORE it happens and then be patient. Now, when we say that we find momentum BEFORE it happens, we are investors looking to position our subscribers BEFORE the move happens.
It’s also best to own a portfolio of hot stocks. For some that can be as many as 10 to 20 or more hot stocks that include both OTC stocks and NASDAQ penny stocks.
We alert our subscribers with our best ideas before our regular readers. This is the value of having a subscription to Insider Financial, which you can sign up for here.
The fact is that there is always a bull market somewhere. That’s why it’s important for penny stock investors to trade both OTC and NASDAQ stocks, and sometimes get exposure to larger companies that still seem to have massive growth potential. There are always opportunities if you give yourself the flexibility to trade all markets.
In this article, we take a look at 4 top penny stocks today, of which 3 are listed on NASDAQ and one is traded on the NYSE American. They are ABVC Biopharma Inc (NASDAQ: ABVC), Coastal Capital Acquisition Corp (OTCPK: CCAJ), Metal Arts Company, Inc (OTCPK: MTRT), and cbdMD, Inc (NYSE American: YCBD).
Top Penny Stocks Today #1 ABVC
ABVC Biopharma Inc has had a great start of the month, although the NASDAQ-listed stock has been bearish this year, bottoming out on August 20 at about $2, which is the lowest level on record, with ABVC trading since 2018.
Nevertheless, this stock has some great potential, as you’ll find out in a moment.
ABVC Biopharma, formerly known as American BriVision (Holding) Corporation, is a clinical-stage biopharmaceutical company that develops drugs and medical devices to fulfill unmet medical needs in the US. The company is developing the following:
- ABV-1501, a combination therapy for triple-negative breast cancer;
- ABV-1504 for major depressive disorders;
- ABV-1505 for attention deficit hyperactivity disorder;
- ABV-1703 for the treatment of pancreatic cancer;
- ABV-1702 to treat myelodysplastic syndromes;
- ABV-1601 for treating depression in cancer patients;
- ABV-1701 Vitargus for the treatment of retinal detachment or vitreous hemorrhage.
It has a co-development agreement with Rgene Corporation as well as collaboration agreements with BioHopeKing Corporation and BioFirst Corporation. While the California-based ABVC operates several subsidiaries, it its parent is a Taipei-based company known as YuanGene Corporation.
So why are many investors confident in this stock?
On September 1, ABVC filed new PCT (Patent Cooperation Treaty) applications related to its medicines that treat major depressive disorder (MDD) and Attention-Deficit Hyperactivity Disorder (ADHD). The two PCT applications describe the treatment methods of oral administrating compositions containing Radix Polygalae extract (PDC-1421). PDC-1421 is the active ingredient for both the company’s MDD and ADHD drugs.
A recently completed Phase II Part II clinical study for ABVC’s MDD medicine was a randomized, double-blind, placebo-controlled, multi-center trial, involving 60 adult patients with confirmed moderate to severe MDD who were treated with PDC-1421 three times a day for six weeks. PDC-1421 met the pre-specified primary endpoint by demonstrating a highly significant 13.2-point reduction in the Montgomery-Åsberg Depression Rating Scale (MADRS) total score by Intention-To-Treat (ITT) analysis, averaged over the 6-week treatment period (overall treatment effect) from baseline, as compared to 9.2-point reduction of the placebo group. The patients exhibited no severe adverse events.
ABVC CEO Dr. Howard Doong stated:
“We believe that the PCT filings, which provide quick entries to PCT contracting countries, such as China, Japan, and European Union, can facilitate the global IP protection of our important MDD and ADHD products. The PCT’s and subsequent national phase applications, when granted, can extend our product’s global market exclusivity to 2040~2041.”
ABVC hasn’t the best share structure out there, with 100 million authorized shares, of which 28.8 million are outstanding, and 20 million of them are restricted. Also, during the last 200 trading days, 96% of the market has performed better than ABVC. However, this is a stock with a long-term target – it’s a clinical-stage business, and it looks to have a very bright future. Current levels look like a discount entry opportunity.
Top Penny Stocks Today #2 CCAJ
Coastal Capital Acquisition Corp has been on the rise, gaining 166% during the last five days alone. On Wednesday, the share price of the Pink Current company hit $0.021, which is the record high, with CCAJ being public for over a decade.
Today, CCAJ is promoting itself as a development stage enterprise that focuses on identifying and negotiating with merger and acquisition targets. It recently got the Pink Current status, and that means a lot of opportunities for early investors.
The share price surged after OTC Markets removed the “Caveat Emptor” symbol, which represents a skull and crossbones icon, from the CCAJ profile. The stock symbol informs investors that there may be a reason to exercise additional care and perform thorough due diligence before making an investment decision, as the company might have been involved with promotion, fraud, suspension, undisclosed actions, or other concerns.
Now, CCAJ is free to identify M&A targets, and you should watch this penny stock carefully because it may go even higher.
— DealEm’ (@deal_em_) September 2, 2021
Interestingly, in 2012, the company acquired Earth Surfaces of America Inc, which produces and sells terrazzo/polished concrete products, and marble and stone custom products. However, a few months later, CCAJ rescinded the deal, so by the end of 2012, it had no operations while Earth Surfaces of America remained a separate firm. However, Earth Surfaces CEO Daniel F Governile is the CFO and Director of CCAJ, so there is still a connection between the two firms. Still, we don’t know if Earth Surfaces will be one of the acquisition targets again.
After 12 years of no operations, CCAJ is really onto something, so be ready to add it to your portfolio.
$CCAJ why I’m bullish:
1) Competent Management
2) Alive after 12 years of dormancy (they have a plan, they spent millions to bring it back)
3) Merger will be massive (Biotech mergers can make the stock go ballistic)
4) we have all respectful traders on this.
— OTC Chairman 💰🥇 (@danyal54794544) September 2, 2021
Top Penny Stocks Today #3 MTRT
The Metal Arts Company, Inc has exploded by almost 3,390% during the last five days alone, becoming the hottest stock at the beginning of September. The share price surged from 10 cents at the end of August to the current level of $3.49, peaking on Thursday at $4.25.
The company used to engage in contract electroless and electroplated nickel, aluminum anodizing, and other surface coating and enhancement operations. However, this small company that has recently got the Pink Current status and still goes with the Shell symbol is now turning into a major blockchain firm as a result of a reverse merger.
On August 30, MTRT said that as a result of a private sale of 7,665,000 shares of common stock of the company, control of MTRT passed to Medium, Inc., a company incorporated under the laws of South Korea. A new board of directors of MTRT, consisting of Pan Jong Kim, Kiwoon Biak, and Yunho Chung, was appointed.
Thus, MTRT’s new CEO is Mr. Pan Jong Kim, Mr. Kiwoon Biak is now serving as VP and CFO, and Mr. Yunho Chung is now serving as VP and secretary. For those unfamiliar, Medium is one of the largest blockchain companies in South Korea – the hub of blockchain.
This piece of news is really huge, and $3 is still a bargain price for this company. Some investors couldn’t believe that this merger was happening, hypothesizing that it was about another venture with the same name. However, Medium’s official site shows the same three guys that MTRT lists as the new management.
Medium operates a blockchain platform called MDL (Medium Distributed Ledger). It’s based on Hyperledger Fabric and can process 2,000 transactions per second. At the beginning of the year, Medium and China’s Peersafe partnered to build ASEAN’s largest trade finance platform. They will build and expand the China Trade Finance Union blockchain platform (CTFU) of the China Banking Association (CBA) as a Korea-China trade finance trading platform.
— bonedaddy77 (@bonedaddy77) August 30, 2021
Medium plans to form a consortium of the Bank of Korea to link Korea-China trade transactions worth 243.4 billion dollars (about 265 trillion won) per year, and improve the cost structure of thousands and trillions of dollars that are excessively consumed in international trade transactions.
While Medium’s blockchain platform is free to use, the company wants to implement a business model similar to Red Hat, one of the most popular open-source solutions companies. While Red Hat offered free enterprise open source products, it charged businesses for further development or maintenance. It started to generate massive revenues and was acquired by IBM for over $34 billion.
Medium has similar ambitions in the blockchain field, with a focus on Asia. If it manages to reach the $1 billion mark in valuation, then MTRT’s stock price would trade above $100. That may sound as the best of the best-case scenario, but anyway, there is much room for growth, so make sure you have this penny stock in your portfolio.
$MTRT is going to $10+ from pennies, see the dd sent to me. Proprietary blockchain global company with over 70 employees and forecasting billions in revenue in 2022. ONLY 7 M FLOAT, and FILING OF MERGER, CHANGE OF OWNERSHIP CAME OUT MID YESTERDAY. pic.twitter.com/u2d5KgkVUy
— stockrocket1 (@StockRocket1) August 31, 2021
Top Penny Stocks Today #4 YCBD
cbdMD, Inc has been somewhat bullish this week, gaining over 3% since Monday. The price touched a swing high on Wednesday at $2.39, which is the highest since the beginning of August and then has corrected to the current level of $2.40.
The NYSE American-listed stock hit the YTD high in February at over $6 and has gradually declined since then. Despite this, this is still one of the top penny stocks today with a healthy balance sheet and a bright future.
We presented our bullish case for YCBD in October 2020, giving our subscribers and readers the opportunity to leverage the 4-month rally that led to the February peak close to $7.
The recent price increase isn’t related to any particular event, with the stock benefiting from a general bullishness in the cannabis industry. cbdMD produces and distributes various cannabidiol products. It owns and operates consumer hemp-based CBD brands, such as cbdMD and Paw CBD. Its cbdMD brand products include CDB tinctures, gummies, topicals, capsules, bath bombs, bath salts, and sleep aids. The company also offers veterinarian-formulated products, including tinctures, chews, and topicals under the Paw CBD brand name.
It distributes its products through its e-commerce Website, third-party e-commerce sites, wholesalers, and various brick and mortar retailers in the US.
At the beginning of September, cannabis stocks might have been driven after New York’s new Governor Kathy Hochul pledged that she would get the state’s budding marijuana sales program off the ground, after ex-Gov. Andrew Cuomo and the state lawmakers gave the green light earlier this year but failed to nominate an executive director for the new Office of Cannabis Management or name appointees to the Cannabis Control Board.
Meanwhile, at the end of August, YCBD introduced ‘drinkmixes’ to its vast portfolio of products.
— cbdMD (@cbdmd_usa) August 27, 2021
Recently, the company released its Q3 results, reporting net sales of $10.6 million, resulting in record trailing twelve-month net sales of over $46.4 million. Gross profit margin for Q3 of fiscal 2021 remained strong at about 68%, up from 65% in the prior year.
We think YCBD is a top penny stock for the long run.
THE FINAL NOTE
Now is a great opportunity to invest in top penny stocks with great potential during a reviving economy. Our job is to identify the best stock alerts with strong fundamentals and let our subscribers pick the ones they like to build a well-diversified portfolio oriented at penny stocks.
The 4 top penny stocks discussed today are on the rise and are good stocks to hold. Nevertheless, our best advice is to be patient and enter the market during corrections, like in the case of YCBD. Buying dips and selling rips as swing trades remains the best strategy in the stock market. Still, whenever a hot stock is in the middle of a bull run, we recommend our subscribers to book profits.
It’s very important to eye penny stocks that have room for growth and have yet to make their explosive move. There are plenty of opportunities, and we take our time to monitor hundreds of penny stocks to buy each week, trying to find the best alerts for our subscribers.
Remember, all you need is one or two hot stocks to run in order to crush the market averages.
As always, good luck to all (except the shorts)!
WHEN INSIDER FINANCIAL HAS A STOCK ALERT, IT CAN PAY TO LISTEN. AFTER ALL, OUR FREE NEWSLETTER HAS FOUND MANY TRIPLE-DIGIT WINNERS FOR OUR SUBSCRIBERS. WE SPECIALIZE IN FINDING MOMENTUM BEFORE IT HAPPENS!
Disclosure: We have no position in any of the securities mentioned. We wrote this article ourselves and it expresses our own opinions. We are not receiving compensation for it. We have no business relationship with any company whose stock is mentioned in this article. Insider Financial is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This article is not a solicitation or recommendation to buy, sell, or hold securities. This article is meant for informational and educational purposes only and does not provide investment advice.