The Best Penny Stock to Buy on the Coronavirus Dip

The CBOE Volatility Index has gone as high as 70 over the last few months in response to the coronavirus outbreak. It's declined to below 60 today. And this is still an outrageously high level of uncertainty in the markets (compare to the 2019 average of 15.39). This is good for penny stocks. You see, penny stocks trade for under $5, by the SEC's definition. That means they can see huge price movements in a short span of time. This can be from a broader market move - the Dow Jones is up 4,000 points from Monday's low. Or it can be from a breakthrough within the company. For instance, shares of Inovio Pharmaceuticals (NASDAQ: INO) popped more than 300% in early March, after the company announced it was closing in on human trials for a coronavirus vaccine. We had recommended the stock when it hovered around $4. Readers had a chance to grab it then sell it at $17 in just a couple weeks. Read more... Tags: penny stock To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and visitors become smarter, more confident investors. Disclaimer: © 2020 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post The Best Penny Stock to Buy on the Coronavirus Dip appeared first on Money Morning - We Make Investing Profitable .
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