If you can trade penny stocks when they make volatile moves, you can see some serious profits. After all, that is their appeal to investors. When there is positive penny stocks news reported before the market opens, massive price hikes tend to follow. In addition, some penny stocks simply react to news late but can still see those strong profits.
These 4 penny stocks are trading much higher after the May 20 opening bell. However, they would have made investors big bucks if they would have purchased any one of these before the market open. Multiple sectors across the penny stock market experienced this firsthand.
Healthcare Penny Stocks
Can-Fite BioPharma Ltd (CANF Stock Chart) is a healthcare penny stock to watch. The company creates products that aim to treat autoimmune, oncological and liver illnesses. Earlier this morning, the company announced that the International Liver Cancer Association wants them to present their data from their Phase II liver cancer study of Namodenoson. After releasing this penny stock news, the biopharmaceutical stock shot up almost 65% from $5.20 to $7.31.
“This is a very prestigious conference that brings together the leading thought leaders, researchers, and physicians in the treatment of liver cancer.”Pnina Fishman, Can-Fite’s CEO
Biocept Inc. (BIOC Stock Chart) is a diagnostics company utilizing liquid biopsy testing to detect several types of cancer. Before the market opened, Biocept revealed that its Target SelctorTM NGS Lung Panel has been officially launched commercially. The biotech penny stock saw strong pre-market movement and rallied up 57%.
Michael Nall, Biocept’s President and CEO, stated, “This new solution makes Biocept the only commercial liquid biopsy company that can offer customers the flexibility to order either a customized single biomarker assay or a larger NGS-based liquid biopsy test panel for use when more comprehensive testing is desired…”
Energy Penny Stocks
Orion Energy Systems Inc. (OESX Stock Chart) is a company that excels at developing groundbreaking and industry leading lighting systems and energy solutions. On May 20th they announced they will expand a major customers lighting using their LED lighting system. The contract will result in an estimated $64 million in revenue for the company. This news prompted the energy penny stock to trade 30% higher than its previous days close right when the opening bell rang.
“It is gratifying that Orion’s performance with this customer provided it with the confidence to substantially expand our role in their nationwide LED lighting retrofit plans.”Mike Altschaefl, Orion’s CEO
Marijuana Penny Stocks
48North Cannabis Corp. (NCNNF Stock Chart ) is a marijuana company that focuses on cultivation and extraction while developing unique marijuana products. They announced an agreement to supply AGLC, a recreational weed company, with 2,460 kg of cannabis.
Unlike the previously discussed penny stocks, 48North’s very positive news was released last week but saw no real hike in price. However, the price jump occurred on May 20th. The marijuana penny stock went from $0.7391 to $1.19 to give investors a 60% profit grab.