4 Penny Stocks Worth Trading

February 22, 2024

DENVER, Colo., Feb 22, 2024 (247marketnews.com)- Concentrating on a few stocks can help traders avoid “shiny penny” syndrome and focus on trading only the best set ups. (NASDAQ:BZFD), (NASDAQ:GBNH), (NASDAQ:BPTH), (NASDAQ:KBLB) are four notable stocks with recent news.

The Buzzzz at yesterday’s close was that (NASDAQ:BZFD) managed to sell off Complex in a $108.6 million all-cash deal. Buzzfeed also announced that it would reduce its remaining workforce by 16%, as it looks to become profitable. The sale proceeds will be used to pay off convertible debt and optimize working capital. This should be one to watch for the rest of the week.

The stock traded up more than 100% in after hours, on significant volume and is now trading at $0.413, up $0.194 (+88.70%), on 11.37M premarket shares traded. The 52-week high is $2.08 and the current float is estimated to be below 50 million.

BuzzFeed, Inc. Announces Sale of Complex to NTWRK in All-Cash Deal

(NASDAQ:GBNH) Greenbrook TMS shares saw a lot of action yesterday and pushed to a 64-cent high, on no news. It recently closed a $2.5 million news debt funding and the stock closed around 86% higher on its highest volume trading day, by far, as more than 113 million shares changed hands on an estimated 13.12 million share float.

GBNH’s 52-week high is $1.88, so, if the strong interest continues, there could be a lot of room to move.

“Operating through 130 Company-operated treatment centers, Greenbrook is a leading provider of Transcranial Magnetic Stimulation (“TMS”) therapy and Spravato® (esketamine nasal spray), FDA-cleared, non-invasive therapies for the treatment of Major Depressive Disorder (“MDD”) and other mental health disorders, in the United States. TMS therapy provides local electromagnetic stimulation to specific brain regions known to be directly associated with mood regulation. Spravato® is offered to treat adults with treatment-resistant depression and depressive symptoms in adults with MDD with suicidal thoughts or actions. Greenbrook has provided more than 1.3 million treatments to over 40,000 patients struggling with depression.”

(NASDAQ:BPTH) Bio-Path Holdings announced a planned 1-20 reverse stock split. It’s currently at 44-cents, so traders looing for sub million float listings will pounce on buyable dips, after the stock settles. BPTH’s 52-week high is $2.24 over the past 52 weeks will look to ensure the Nasdaq minimum bid requirement. (BPTH) raised approximately $2.1 million in gross proceeds in its last offering, August 2023, at 60-cents.

The market should be watching for upcoming catalysts.

“Bio-Path is a biotechnology company developing DNAbilize®, a novel technology that has yielded a pipeline of RNAi nanoparticle drugs that can be administered with a simple intravenous transfusion. Bio-Path’s drug candidate, Liposomal Bcl-2, (BP1002, targeting the Bcl-2 protein responsible for driving cell survival in up to 60% of all cancers) has announced the enrollment and dosing of the first patient in a Phase 1/1b clinical trial. Bio-Path’s drug candidate, Liposomal STAT3 (BP1003, targeting the STAT3 protein) has one additional IND enabling study to complete before the Company may file an IND application and initiate the first-in-humans Phase 1 study in patients with refractory, metastatic solid tumors. In addition, Bio-Path has a modified product named BP1001-A (prexigebersen with enhanced nanoparticle properties) which has shown to enhance efficacy in preclinical solid tumor models and is currently in a Phase 1/1b clinical trial conducted at several leading cancer centers in the United States.”

Last, but not least, Kraig Biocraft Laboratories (NASDAQ:KBLB) has consistently published milestone announcements over the past month and is currently trading around the 7-cent level.

There are few charts that are as exciting as Kraig’s. Name the technical indicator (MACD, RSI) and it’s probably deep green. Even its moving averages are in proper alignment, for the first time in years and, with its increasing volume, is “one to Watch”, as there is significant price history that shows the market responds well to market catalysts for the stock.

Traders should look at the 3 year and the 5-year chart, and you can get a glimpse of the trading range this stock has consistently shown.  Not for the faint of heart as its on the OTC, but there is a long history of trading.

The company is in the beginning stages of a spider silk production run and hopes to deliver its first commercial quantity batch in the coming months.

We encourage you to look for our continued coverage of these issues in the coming days and weeks.

For further info, including Kraig Labs disclosure, visit here

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