Schaeffer's Top Stock Picks for '25

3 Penny Stocks Swinging Higher Today

BGFV stock is squeezing shorts after earnings

Oct 30, 2019 at 3:14 PM
facebook X logo linkedin


The broader stock market is mixed after the Fed cut its key interest rate, as expected, but struck a hawkish tone in its forward-looking statement. Among individual names making notable moves are central nervous system specialist Seneca Biopharma, Inc. -- formerly Neuralstem, Inc. (NASDAQ:CUR) -- sporting goods retailer Big 5 Sporting Goods Corporation (NASDAQ:BGFV), and financial services firm HC2 Holdings Inc (NYSE:HCHC). Here's a quick look at what's moving the shares of CUR, BGFV, and HCHC.

Big China Deal Boosts Seneca Biopharma Stock

Seneca Biopharma -- which changed its name this past Monday, Oct. 28, and will change its ticker to SNCA in early November -- said it inked a term deal to license assets to China's Jiangsu QYuns Therapeutics Co Ltd. Should the agreement go through, the former firm will gain global rights to the latter's asthma and atopic dermatitis treatment. In reaction, CUR stock is up 57.9% at $2.07, approaching familiar resistance at its 80-day moving average. The shares are still down 66.9% year-to-date, and remain stuck beneath the site of a late-July bear gap.

Big 5 Sporting Goods Scales Nasdaq After Earnings

Big 5 Sporting Goods said its third-quarter net profit more than doubled year-over-year to $6.4 million, while same-store sales were positive for a fourth straight quarter. Against this backdrop, BGFV stock is up 39.4% at $3.36, slicing through long-term resistance at its 200-day moving average.

This sharp upside move is likely catching short sellers off-guard. The 5.23 million BGFV shares controlled by bears represent 26.4% of the equity's available float, or 18.9 times the average daily pace of trading. As such, today's tailwinds are possibly being strengthened by a round of short covering.

Huawei Buzz Lifts HC2 Holdings

HC2 Holdings said its marine services division was selling 30% of its stake in Huawei Marine Networks -- a joint venture with Huawei Technologies. HCHC stock was last seen up 5.5% at $2.32, but is still staring up at its 200-day moving average. This trendline has only been toppled once on a daily closing basis since October 2018, and has helped usher HCHC to a nearly 57% year-over-year deficit.

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?