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Were These Penny Stocks Worth It?

May is off and running. The broader markets finished the first day of the month in the red. But that doesn’t mean today’s trading wasn’t worth it for those looking to buy penny stocks. This having been said, we can’t ignore the fact that there were some big losses for a few penny stocks today as well. 

Don’t get me wrong, the market has performed impeccably over the first few months of the year. But now we’re getting close to the “sell in May and go away” point in the news cycle.  So what could that mean for penny stocks?

Well, in so many words, opportunity.  As most of us know, penny stocks are highly volatile and this is what keeps us coming back for more.  No one is happy with a 2% rip on a $0.02 stock; they want 200%. As long as you do your utmost to look into certain penny stocks you want to invest in, your reward could greatly outweigh your overall risk.  Let’s just consider the 200% rip on this mystery $0.02 stock.

All it needs to do is go up a few pennies and the stock is returning multiple triple-digit gains. You won’t ever see something like that with Facebook (FB) stock.  A few pennies there means peanuts; likely not even 0.05%.

3 Top Penny Stocks That Were Worth The Risk On Wednesday

Note that this list covers some of the most actively traded penny stocks. There were others we could have listed but a 300% gain from a stock that trades two shares all day isn’t worth mentioning. So we looked at price movement and share volume, together, to compile this penny stock list for you.

ContraVir Pharmaceuticals, Inc. (CTRV)

ContraVir Pharmaceuticals, Inc. (CTRV Stock Quote) stock hit a stride on May 1. The more than 25% rally in this stock was helped out by anticipation of Thursday’s presentation at the 2019 ThinkEquity Conference in New York. The clinical stage biopharmaceutical company has been on the move for the last 5 days. 

After seeing it get crushed a few days prior following some capital raising news, CTRV stock shot up like a rocket on Wednesday. The rally didn’t stop at the closing bell either.  During post-market trading, shares of ContraVir hit levels of $0.162. CTRV has moved up by as much as 87% since releasing their news.

Viveve Medical, Inc. (VIVE)

This medical penny stock hit scanners on Wednesday after trading some of its highest volume all year.  It was nice to see that VIVE stock had a green close after so many down days in the market.  Though there was no urgent news, it would appear VIVE traded on sheer momentum on Wednesday.

In an announcement a little over a month ago, Viveve annoyed that it received CE Mark clearance for its Viveve’s (VIVE Stock Quote) 2.0 cryogen-cooled monopoly radio frequency system and tips in the European Union. Essentially the product is designed rebuild natural collagen. Is this penny stock ready to rebuild its chart too?

Sunworks, Inc. (SUNW)

Sunworks, Inc. (SUNW Stock Quote) traded nearly 10x its average trading volume on Wednesday.  Why was SUNW stock so active? We’ve written about the company in the past as the stock has been on a strong uptrend this month. 

The penny stock got a boost of trading momentum starting last month thanks to a positive research report that was released on the company. The stock has more than doubled over the last 30 days, rising from 48 cents on April 1 to close at $1.39 on May 1. At its high, SUNW was up by nearly 200% from its trading levels on April 1.  

3 Top Penny Stocks That Weren’t Worth The Risk On Wednesday

Nio (NIO)

This company was originally questioned on whether or not it would become a penny stock.  Days like today confirm our hypothesis to be true.  Nio (NIO Stock Quote) shares plummeted on Wednesday. What started as a crack in the armor after earnings opened up a giant wound for NIO stock.

Article: Nio Inc (NIO) Is Now A Penny Stock

The company reported a loss of $509.5 million or 49 cents per share. With analysts’ consensus estimate at 32 cents per share, this wider loss didn’t reassure investors on the company’s future potential. On top of that, the company’s outlook was also disappointing. Its deliveries are expected to be light in the first half of this year.

Through a firestorm of class action press releases and threats of a suit, it’s no wonder why NIO continues to slide. Today the “Tesla of China” received another blow after closing at its low of the day, still below $5.

Nabriva Therapeutics plc (NBRV)

You can add Nabriva Therapeutics (NBRV Stock Quote) to the list of losers on Wednesday.  The healthcare penny stock dropped like a rock after reporting that it failed to win FDA approval for its experimental antibiotic. That was all Wall Street needed to send this stock down the drain.

The stock gapped down from a previous close of $2.99 to an open of $2.37. The stock tried to battle back at the open but after hitting highs of $2.65 it was all downhill after that. Shares of NBRV nearly squeaked by, closing just above the intra-day low of $2.12.

Weatherford International plc (WFT)

This penny stock took the cake when it came to the biggest decline and highest volume for the day.  After more than 48 million shares traded hands, Weatherford International plc (WFT Stock Quote) closed the day down, deep in the red.  What caused WFT stock to drop so hard?

Besides being a long time, beaten down penny stock, murmurs of another reverse split helped bring more selling into the stock. There’s quite a bit of frequency in reverse stock splits done by NYSE and NASDAQ listed penny stocks that fail to stay above $1. 

Thanks to enormous amounts of dilution, there are countless “bottom barrel” penny stocks that are created.  Though Weatherford may be showing some promise after reporting its financial results, it wasn’t enough for investors to want to buy the penny stock. Can WFT stock ever recover? We’ll see but from what I’ve been reading, it could likely be a long road ahead before that happens.

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