These Penny Stocks Are Rising But Can They Maintain The Trend In November?
Trading penny stocks can be very lucrative if you invest your money wisely. Trading efficiently means taking profits when you earn them as well as mitigating losses through stop-loss orders.
Penny stocks have much higher levels of volatility compared to blue-chip stocks. With the help of penny stock news, this volatility can result in massive gains for potential investors. However, investing in penny stocks can also work against you. The volatility can result in a massive drop in prices as well which means you could incur heavy losses.
This is why it is important to research the companies you want to put money into. Keep up with market and company news in order to catch stocks with a lot of attention. Here are a few stocks that have been making news headlines recently:
Penny Stocks To Buy [or avoid] #5: Titan Pharmaceuticals Inc. (TTNP)
Kicking things off is Titan Pharmaceuticals Inc. (TTNP Stock Report ). As a biotechnology company, Titan has a distinct advantage over many of its competitors in its field. The company already has a product on the market known as PROBUPHINE which treats opioid addiction. In addition to this treatment, Titan has 2 other product candidates in its clinical pipeline.
Titan had some recent news that has brought an increased amount of attention to the penny stock. The company presented 2 posters regarding PROBUPHINE at the 10th American Conference on Pharmacometrics.
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Furthermore, the company had raised $9 million after a public offering of 40 million shares. Additionally, analysts at Maxim upped their rating on TTNP stock from “HOLD” to “BUY” and gave a $1 price target.
Penny Stocks To Buy [or avoid] #4: Dixie Group (DXYN)
Dixie Group Inc (DXYN Stock Report) stock continued its strong run after the company made a major announcement on Wednesday. Since August, DXYN stock has gained as much as 250%. This week it gained a further 48% after it emerged that the company had completed an important sale.
Dixie Group announced that it had completed the sale of the Susan Street plant for $37.2 million. The development drew a lot of optimism from investors as the stock gained significantly. Additionally, it announced a stock buyback program which is believed to be another factor behind the stock’s upward movement.
Penny Stocks To Buy [or avoid] #3: Endo International plc (ENDP)
The next company on this list of penny stocks hails from the healthcare sector. Endo International plc (ENDP Stock Report ) is a pharmaceutical company that develops both generic and specialty branded medicines. In order to develop these medicines, the company leverages its 3 operating companies Endo Pharmaceuticals, Par Pharmaceutical, and Paladin Labs.
This stock has had a very strong month of October. The company is attempting to break out of the penny stock range of $5. However, it is currently consolidating right underneath that price point. Endo will be presented data on the use of a standing MRI at the American Society for Dermatologic Surgery’s annual meeting this week.
The presentations will go from October 24 through October 27, which is something to keep in mind for later this month. Will the presentations trigger bullish buying or bearish selling upon conclusion?
Penny Stocks To Buy [or avoid] #2: Fitbit Inc. (FIT)
One of the leading players in health and wellness technologies is Fitbit Inc. (FIT Stock Report ). Fitbit is primarily a technology company that is looking to provide health solutions internationally. The company offers a variety of health products including smartwatches, fitness trackers, accessories and weight scales.
Fitbit is very similar to Endo International in the sense that both companies are pushing towards that illustrious $5 mark. Over the last 6 months, the company has struggled to break $5 and eventually gapped down $3.30 on August 1st. Since this point, the company has rallied back all the way to $4.40.
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Fitbit is expected to release its Q3 financials on November 6th after the market close. As one of the most popular penny stocks on Robinhood for a while, readers have become familiar with its volatility.
Penny Stocks To Buy [or avoid] #1: GoPro Inc. (GPRO)
We are going to end things with a company that most people have heard of, GoPro Inc. (GPRO Stock Report ). For those who have not heard about this company, GoPro is a technology company that sells cameras, drones, and accessories.
In order to create ease of use, the company has also developed an app that allows customers to edit photos and videos.
The company has had quite a few recent news stories. First off, GoPro is expected to release its Q3 financials on November 7th after the market closes. In addition to the financials, the company has announced it is now shipping some new products.
This includes the HERO8 black cameras and the GoPro MAX. Over the last 10 trading sessions, the company’s stock has increased by 9%.
