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Why do people buy penny stocks? It could be the fact that an investment in these small-cap and micro-cap stocks has the potential of providing a handsome return. Needless to say, the investment has to be the right one, since there is also the possibility of certain penny stocks recording significant losses.

Identifying the right penny stocks to buy is half the job. Once that’s complete, many will turn to some of the best penny stock trading apps like Robinhood in order to place trades. During the month of May, two stocks have emerged, which look particularly promising. One of them is a medical technology penny stock, Conformis. The other one is the mobile app advertising platform Digital Turbine. Let’s take a closer look at both.

Penny Stock #1: ConforMIS Inc Jumps 1027% in 2019

ConforMIS Inc (CFMS Stock Chart) is one of the biggest penny stock gainers this year. The stock has jumped from $0.36 (January 1st) to $4.06. This marked a huge gain of 1,027% so far in 2019. In fact, CFMS stock has gained 45% since early May following impressive quarterly earnings.

On May 02, Billerica, the Massachusetts based medical technology company posted its results for Q1 2019. Although the company did post a loss, the signs are not discouraging based on the investor sentiment. Conformis is engaged in the development and sales of joint replacement implants. Additionally, it has created a customized knee replacement system as well.

Conformis reported losses to the tune of $7.6 million in the quarter and the losses for each share stood at 12 cents. The revenues for the period stood at $20.6 million. The stock made a new 52-week high of $4.36 in the early part of its June 5th session.

Penny Stock #2: Digital Turbine (APPS) Makes Big Move

On the other hand, Digital Turbine Inc (APPS Stock Chart) stock made a particularly strong move on Tuesday. The company is involved in monetizing mobile apps. After it published its earnings for the fourth quarter fiscal, the market for this penny stock jumped. The stock went up 16.50% to close at $4.29 on June 4. APPS stock has soared almost 125% since the beginning of the year. Moreover, the stock made a multi-year high of $4.40 in yesterday’s session.

The revenues generated by Digital Turbine beat expectations. The stock soared by 16.8% at one point on June 4. Its revenues rose by as much as 30% year on year to $27.2 million and beat analysts’ expectations of $26.2 million. The earnings per share stood at $.03, which was again higher than analysts’ estimates of $.02.

The full year revenues showed a rise of 39% and stood at $103.6 million. Digital Turbine stated that the rise was primarily driven by more revenue per device with some of the larger U.S. based carriers which had partnered with the company. 

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