Looking For Penny Stocks To Buy Today? 4 To Watch After Big News

Are These On Your List Of Penny Stocks Today?

A new week of fresh opportunities with penny stocks is in front of us. Right now we've seen a surge of interest in energy stocks following Tesla's Battery Day last week. That trend has remained a key focus this week as well. Something we discussed over the weekend was the sympathy trade that has triggered a move in more than just EV penny stocks. We're seeing an impact across the entire "food chain" of alternative energy products. That includes raw material producers as finished product manufacturers as well.

This morning, more big news came out involving Tesla. This time it triggered a more than 300% move in one lithium producer. During premarket hours, news came out that Tesla signed a sales agreement with Piedmont Lithium Limited (PLL Stock Report).

The agreement is a 5-year deal whereby Piedmont will supply high-purity lithium ore to Tesla. According to Reuters, Tesla will receive roughly one-third of its requirement of 160,000 tons per year spodumene concentrate from Piedmont deposits in North Carolina. There's also an option to extend the deal for another 5 years if the companies agree.

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One thing the Tesla CEO said in his Battery Day presentation was that he will be boosting his output on a grand scale. That sent a shockwave across a number of energy-related names. It also shook up the "pick and shovel" part of the energy space.

Everything from charging station companies, to alternative energy providers have jumped in activity recently. Heading into the final quarter, will it's yet to be seen if this trend upholds. Regardless, there are plenty of stocks to watch at the start of the week. However, will these be penny stocks to buy or avoid today?

Penny To Buy [or avoid]: CBAK Energy Technology, Inc.

CBAK Energy Technology, Inc. (CBAT Stock Report) was one of the highlights from last week. We watched, in real time, how huge this penny stock rallied. CBAT stock jump from under $1 to highs of $3.75 by Friday. In fact, shares reached a high $4.16 during premarket hours on Friday with some of its highest share volume of the year. If you're unfamiliar with CBAK, let me give you a quick description. They manufacture lithium-ion batteries and electric energy solutions.

This week CBAT stock took off again after another big announcement. CBAK reported its product release of 32140 large-sized cylindrical tabless battery has officially passed its technical and Pilot Plant tests which demonstrated its success in product research of this model. As the requirement of mass production on this product has been achieved, CBAK Energy is planning for the construction of new standardized production line. The company aims to achieve mass product delivery in the first half of 2021. If you watched the Battery Day presentation, you also would have noticed that tabless batteries are something that Tesla is also focusing on.

In light of Monday's news, CBAT shares jumped during premarket trading. Considering how it opened, will this bullish momentum continue throughout the week or are shares set to slide on Monday?

penny stocks to buy avoid Oxbridge Re Holdings Inc. (OXBR stock chart)https://pennystocks.com/wp-content/uploads/2020/09/penny-stocks-to-buy-avoid-Oxbridge-Re-Holdings-Inc.-OXBR-stock-chart-300x196.jpg 300w" sizes="(max-width: 688px) 100vw, 688px">

Penny To Buy [or avoid]: Polymet Mining

Polymet Mining (PLM Stock Report) is another one of the sympathy trades of the morning. In light of the move that PLL stock saw, Polymet has moved in a similar trend. The company explores and develops natural resource properties. Polymet's primary mineral property is the NorthMet Project, which is a polymetallic project in northeastern Minnesota, USA. The company ultimately plans to produce metals such as copper, nickel, cobalt, platinum, palladium, and gold. Cobalt, in particular, is one of the ingredients in lithium-ion batteries.

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While there was no further update today, PLM shares jumped to highs of $4.63 during premarket trading on Monday. Polymet is majority-owned by Glencore PLC. Elon Musk's car company is expanding its relationship with mining giant Glencore earlier this year. In June, these developments surfaced. Tesla is planning to use cobalt from some of Glencore's mines to make lithium-ion batteries at Gigafactories in Berlin and Shanghai.

penny stocks to buy avoid Polymet Mining (PLM stock chart)https://pennystocks.com/wp-content/uploads/2020/09/penny-stocks-to-buy-avoid-Polymet-Mining-PLM-stock-chart-300x196.jpg 300w" sizes="(max-width: 688px) 100vw, 688px">

Penny To Buy [or avoid]: Ambow Education Holding Ltd.

Ambow Education Holding Ltd (AMBO Stock Report) is one of the lower float penny stocks to watch. AMBO stock is very thinly traded. While its highest share volume day of the year was over 11 million shares, the stock typically trades less than 100,000 shares. So what's happened with Ambow Education that put it on the map today? The company announced that it has expanded its strategic partnership with Amazon built on its online-to-offline education SaaS platform, Huanyujun Education Hub.

Dr. Jin Huang , President and Chief Executive Officer of Ambow, commented, "Our expanded strategic cooperation with Amazon is an acknowledgment of our successful professional education, training and certification system. With this partnership program, the influence of Ambow online education platform will be further enhanced and benefit more people and institutions through Huanyujun Education Hub."

Essentially this deal allows Ambow to provide Amazon Web Service training for cloud skills, specific and catered to various enterprise hiring needs. Registered students at Huanyujun will have first access to sign-up for the joint program. Shares of AMBO stock surged after the news broke, rallying to more than $5 and fluctuated around that level just before the opening bell. However, as the market opened, shares of AMBO were almost immediately halted to the downside at $2.77.

penny stocks to buy avoid Ambow Education Holding Ltd. (AMBO stock chart)https://pennystocks.com/wp-content/uploads/2020/09/penny-stocks-to-buy-avoid-CBAK-Ambow-Education-Holding-Ltd.-AMBO-stock-chart-300x196.jpg 300w" sizes="(max-width: 688px) 100vw, 688px">

Penny Stocks To Buy [or avoid]: Oxbridge Re Holdings

Oxbridge Re Holdings (OXBR Stock Report) has been off and on the list of penny stocks to watch this year. As mostly a day-trader's focus, OXBR stock sporadically breaks out insanely high, then ultimately pulls back almost immediately after. In light of this, if OXBR is on your list of penny stocks to watch right now, keep this in mind. Nevertheless, shares have seen another explosive move opening at $1.55 this morning, more than 40% higher than Friday's close. Though, it's still early in the session, the penny stock has tested early highs of $1.99, which has been an historic level of resistance over the last few months.

The company provides reinsurance solutions primarily to property and casualty insurers. In its last earnings update in August, the company recorded year over year sales and EPS growth. "We remain optimistic about the long-term prospects of our core reinsurance business as well as the prospects of the side car. In addition, we continue to evaluate additional opportunities for growth as well as diversification of risk. We are also pleased that our sidecar investors earned a strong 36% return for the treaty year ended May 31, 2020 , and we anticipate growing this portion of the business in the future,"said Oxbridge Re Holdings President and Chief Executive Officer Jay Madhu.

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We'll have to see if the $2 remains a sticking point or if OXBR can firmly break above it. In any case, again, keep the previous trend in mind if this is on your watch list this week.

penny stocks to buy avoid Oxbridge Re Holdings Inc. (OXBR stock chart)
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COMTEX_371995026/2686/2020-09-28T09:58:44

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