Some penny stocks make crazy moves one day, others can make moves over multiple days. This is why investors should have a list of penny stocks to watch when they make strong moves. Because of the potential for multiple big moves, trading penny stocks can be extremely lucrative. Here are a few strong penny stocks that have been moving:
Penny Stock #1: Legacy Reserves Inc. (LGCY)
Legacy Reserves Inc. (LGCY Stock Report) is an energy company that develops oil and natural gas locations across the US. Legacy’s goal is to develop cost-efficient management for these locations in order to compensate for a potential slowdown.
So far this week, Legacy has made numerous, strong pushes. They have been the poster boy for why investors put their money in penny stocks. Specifically, this energy penny stock has made a 31% move on June 11th, a 41% move on June 12th, and most recently a 27% jump on June 13th. The recent move is attributed to Legacy reaching its third forbearance agreement with Second Lien Lenders and RBL Lenders.
Penny Stock #2: OpGen Inc. (OPGN)
OpGen Inc. (OPGN Stock Report) is a healthcare company focused on solving the growing crisis regarding antibiotic resistance. They utilize genomic analysis to develop solutions for patients globally through their Acuitas Lighthouse Database.
Before the market opened on June 13th, the company announced that they would be presenting data from their Acuitas system. This data will be presented at the ASM Microbe 2019. As a result of this news, OpGen’s share price increased to a high of $0.76 from $0.41. This was an 85% gain in a single move.
Penny Stocks #3: INSYS Therapeutics Inc. (INSY)
INSYS Therapeutics Inc. (INSY Stock Report) is a biopharmaceutical company that develops an assortment of drugs. Some of which include, SUBSYS, which treats cancer pain, and SYNDROS, for patients with a loss of appetite.
INSYS recently revealed that its “First Day” motions have been approved by the US Bankruptcy Court in Delaware. This news has powered this biotech penny stock through 2 days of very strong moves. On June 12th, the stock saw a 266% jump reaching a high of $0.74. In addition, on June 13th, there was another strong move of 56% early in the trading session.
As quoted in “5 Money-Making Penny Stocks To Watch This Week”, “This is an important step forward in our court-supervised process, which is intended to fairly and transparently address the Company’s legacy legal liabilities. I would like to thank our team for their continued hard work and dedication as we move forward with our asset sale process.”Andrew G. Long, CEO of INSYS
Penny Stock #4: Histogenics Corporation (HSGX)
Histogenics Corporation (HSGX Stock Report) is a biotechnology company focused on restorative cell therapies for rapid-onset pain relief. One of the company’s products used to rebuild knee cartilage in patients called NeoCart.
The company has made back to back strong moves after a tough year overall. Their move on June 12th moved the stock price from $0.22 to $0.3159. The follow-through move on the 13th pushed the stock an additional 15%. These 2 increases came after multiple attempts to make a solid break of $0.25 but continuously failed. This could potentially be a sign for more movement upwards in the future.