Penny stocks and the Robinhood trading app go hand in hand with younger traders. And like all things dealing with these micro cap stocks and small cap stocks, volatility is what has attracted investors. Typically, penny stocks can skyrocket 50% or more within a matter of hours. On April 10, 2019 there are 5 penny stocks in particular that have begun to trend on Robinhood:
Trending Penny Stock #5: TransEnterix, Inc. (TRXC)
Shares of this penny stock saw a very active opening bell on April 10. TransEnterix (TRXC Chart) volume was well above average and the stock briefly broke above its
What was behind the latest spike in trading for TRXC stock?
The company’s announcement from March could shed some light on the company’s developments. Last month, TransEnterix said that it will be hosting events to highlight its Senhance™ Surgical System. This would be at the 2019 Annual Meeting of the Society of American Gastrointestinal and Endoscopic Surgeons (SAGES) April 3 – 6, 2019. Could this mean results were favorable for the TRXC system?
Trending Penny Stock #4: ATA Inc. (ATAI)
News broke early from ATA (ATAI Chart) this morning. The China-based provider of computer-based testing services entered into a non-binding agreement to buy Beijing Huanqiuyimeng Education Consultation. We reported on this penny stock on Tuesday, highlighting the specifics of this deal: Top 10 Penny Stocks Making Big Moves – April 9, 2019 Edition
The uptrend continued to push shares higher on April 10. ATAI stock saw highs of over $3 before lunch. Just a few days ago ATAI was trading at roughly $1.
Trending Penny Stock #3: Avinger, Inc. (AVGR)
Avinger (AVGR Chart) stock gapped up this morning following some big FDA news. Just like with many biotech penny stocks, any regulatory news can greatly impact a stock. In the case of AVGR stock, the reaction was favorable.
Avinger received 510(k) clearance from the U.S. Food & Drug Administration for its
“This allows FDA to determine whether the device is equivalent to a device already placed into one of the three classification categories.” US FDA Website
Trending Penny Stock #2: Crescent Point Energy (CPG)
The recent excitement around energy stocks has helped boost the sector. For Crescent Point Energy (CPG Chart) stock specifically, earnings
So, what could be driving this move?
Well, to look ahead, you need to look a bit in the past. The company has seen its share of negative sentiment and previous management appears to not be favored by the street. But new updates could be helping to bring new life into this penny stock.
“The key part of CPG’s forecast is that it is maintaining flat production and doing so while forecasting $400 million of free cash flow, or FCF, at the current strip…By targeting the cheapest locations which can allow the company to maintain production, CPG is dramatically bringing in its costs.”-Seeking Alpha Contributor Trapping Value
Trending Penny Stock #1:
What list of penny stocks would be complete without a low float penny stock?
Why did INPX stock move today?
An acquisition announcement was released.
“We’re excited at the prospect of combining Locality Systems within theNadir Ali, Inpixon CEO
Inpixonfamily. Locality’s visitor information solution fits nicely into our IPA Intelligence line-up as a Wi-Fi-only offering that complements our IPA Sensors.”