The coronavirus pandemic has caused a lot of market volatility, and major indices such as the Dow Jones, Nasdaq, and S&P 500 are experiencing significant movements each day. The volatility has resulted in a huge investment opportunity for investors seeking to buy Nasdaq penny stocks. The US Federal Reserve announced a stimulus package to ease the impact of COVID-19 on the economy, boosting confidence, and markets picked up some gains.
Penny stocks trade below $5 per share and their affordability makes them a suitable investment for risk-hungry traders looking to make quick bucks. Although the stocks are cheap, it doesn’t necessarily mean they are bad. If you are looking to invest in penny stocks, here are 5 Nasdaq penny stocks that are currently trading at attractive price levels:
5 Nasdaq Penny Stocks to Watch Next Week: AVEO Pharmaceuticals Inc. (NASDAQ:AVEO)
AVEO Pharmaceuticals stock has been on a good run this week, jumping 60%. In the last session, the stock gained 41.45%. Mid-March, the company reported its Q4 earnings, posting a $4.5 million loss compared to a profit last year.
The company said its net loss was $0.28 per share, which beat Wall Street estimates. Analysts expected a loss of $0.58 per share. Q4 revenue came in at $764,000, while the full-year revenue was $28.8 million, with net income around $9.4 million or $0.16 per share.
5 Nasdaq Penny Stocks to Watch Next Week: Ideanomics Inc. (NASDAQ:IDEX)
In the last week, Ideanomics shares have surged 190%. In the last session, the stock continued higher, gaining another 50%. The trigger for the stock came mid-March when the company announced a strategic agreement with BeiBen Heavy Truck Co. Ltd. The partnership agreement will help the company expand in Southeast Asia via Treeletrik, beginning with the port of Qingdao and inner Mongolia mines.
>> 5 Robinhood Penny Stocks Gaining Momentum This Week
The company had also indicated that the Qingdao-MEG Sales Centre will begin sales operations as of May 1. MEG will be joined by several other partners, include EV and EV battery manufacturers, energy storage, financial services, and insurance partners, among others.
5 Nasdaq Penny Stocks to Watch Next Week: BroadVision Inc. (NASDAQ:BVSN)
BroadVision is up around 165% this week following the announcement that the company is partnering with Vsomo Inc to offer the Telework Jumpstart Program at no cost. Organizations are implementing telework initiatives to help people following the “shelter-in-place” decree to combat the spread of coronavirus.
The company will provide the Telework Jumpstart Program free of charge for one year. Vmoso CEO Pehong Chen stated that because every organization is offering telework services, they felt obligated to offer the Vmoso platform free of charge for everyone.
5 Nasdaq Penny Stocks to Watch Next Week: Alphatec Holdings Inc. (NASDAQ:ATEC)
Alphatec Holdings has surged 63% this week and continued on an upward trend in the last session by jumping 21.31%. Early this month, the company finalized a $122 million acquisition agreement for EOS imaging. The company finalized the deal for up to $88 million in cash, plus equity, and $33.9 million in settlement of a debt.
The addition of the EOS technology will help the company advance its AlphaInfomatiX platform. Equally, it will help develop predictive analytics as well as AI-empowered surgical planning. The acquisition will immediately expand the company’s revenue base and offer international infrastructure for Alphatec’s global re-expansion plans.
5 Nasdaq Penny Stocks to Watch Next Week: VBI Vaccines Inc. (NASDAQ:VBIV)
After dropping early this month, VBI Vaccines stock has been on an upward trajectory this week, currently up 30%. Early this month, the company reported a loss of $0.02 per share in the fourth quarter against consensus estimates of $0.06 per share.
The company reported revenue of $0.57 million in the quarter, coming short of estimates by 40.83%. Last year, VBI reported $2.68 million in revenue. In the last four quarters, the company has only surpassed consensus revenue estimates twice.
Key Takeaway
Currently, the coronavirus pandemic is causing a lot of volatility in the market, and this creates an opportunity for penny stocks to attract attention. For these 5 Nasdaq penny stocks, the current market conditions create a unique opportunity thanks to their discounted prices.
Featured image: Pixabay
