Penny stocks are lower priced, higher volatility stocks but that isn’t all they are. Their volatility is largely unpredictable and can produce significantly higher gains. When investing in penny stocks, investors should be aware of just how quickly penny stocks can move.
Typically, their movement can be catalyzed by headlines hitting the media or key announcements from certain industry-leading companies. But an investor’s best shot at staying ahead of the curve is by doing their homework & finding trends. We thought it’d be nice to show you the top trending penny stocks on Robinhood for April 8.
Trending Penny Stock #1: Vital Therapies Inc (VTL)
Vital Therapies Inc (VTL Chart) dominated headlines early last week. The Company announced shareholder approval for the proposals required to complete a deal with Immunic AG. According to a press release, an estimated 98.82% of the shares voted at the special stockholder meeting. These votes were in favor of the Exchange Agreement proposal.
“We believe that this outcome represents the best option for our stockholders, as the transaction is expected to create a publicly listed company with a strong cash position and promising portfolio of multiple oral drug candidates…”Duane Nash, President and Chief Executive Officer of Vital Therapies
Trending Penny Stock #2: New Age Beverages Corporation (NBEV)
New Age Beverages Corporation (NBEV Chart ) saw impressive gains in the market on Monday. Its shares soared 19.54%, trading at $5.72 in early afternoon trading. The Colorado and Utah-based organic and natural beverages company announced the distribution expansion of their Marley brand with Walmart. New Age has focused its efforts on revamping the Marley Brand. This comes after the recent shift in public opinion surrounding cannabis and CBD-infused products has become more positive.
New Age explained that it will be dedicating “significant marketing efforts” behind its Marley brand in 2019. The focus will be to build on what it sees as a “significant opportunity” with consumers.
Trending Penny Stock #3: Histogenics Corporation (HSGX)
Histogenics Corporation (HSGX Chart) focuses on discovering, developing and commercializing therapies to address rare and underserved eye diseases. Today’s news sparked significant excitement in the market as shares climbed 73.35%. The company entered into a definitive merger agreement with Ocugen Inc.
Essentially, the stockholders of Ocugen will become the majority owners of Histogenics’ outstanding common stock. The proposed merger will result in a combined publicly-traded, clinical-stage biopharmaceutical company operating under the Ocugen name.
“This transaction…reflects the continued commitment of our management team and Board of Directors to deliver value to stockholders and make a difference in patients’ lives.”Adam Gridley, President of Histogenics
Trending Penny Stock #4: Yuma Energy, Inc (YUMA)
One of the lowest priced penny stocks for the day, Yuma Energy Inc (YUMA Chart), has been on fire. The Company announced that it had filed its annual report earlier this month. The Houston-based company focuses on acquiring, developing, and exploring nuanced methods for accessing oil and natural gas resources.
Penny stock companies are not as restrictive when it comes to certain reporting standards compared to blue-chip stocks. Yuma’s drive to be transparent with the SEC could be a sign of strength for the company. The Company’s shares jumped 35% on Monday, trading at $0.16 per share in early afternoon trading.