Penny stocks are the cheapest stocks in the capital market. The simple definition of a penny stock: one priced below $5. However, since they are unpredictable by nature, many investors are often unwilling to invest in those stocks.
Keep in mind that there are many penny stocks to buy which have managed to create considerable wealth for investors. Hence, it is important to conduct thorough research and make a list of penny stocks that you think could be profitable. Here is a quick look at three penny stocks to watch that investors could keep an eye on this month.
Penny Stock To Watch #1: Sunesis Pharmaceuticals (SNSS)
One of the companies to look into is California-based biopharmaceutical company Sunesis Pharmaceuticals (SNSS Stock Report). SNSS stock went up by as much as 35% on Thursday in anticipation of testing data to be released for a key product. The product in question is SN-062 and Sunesis is expected to provide the updates on Saturday. This is one to keep an eye on especially heading into next week.
Penny Stock To Watch #2: Neptune Wellness Solutions (NEPT)
The other interesting company that investors could look into is cannabis extraction company Neptune Wellness Solutions (NEPT Stock Report). Neptune released its fourth-quarter earnings on Wednesday and the stock slid 13% as quarterly losses widened to CA$12.4 million.
The losses in the same period last year stood CA$4.8 million. Moreover, revenues for the biotech penny stock fell 19% year on year as well and hence, the slide in the Neptune tock was not a surprise. However, it is necessary to keep in mind that in recent weeks, the company has announced deals that could see the company doing better in the coming quarters.
It has signed extraction and purification deals with Tilray and The Green Organic Dutchman, two of the major operators in the cannabis space. Despite the recent slide, the stock has gained as much as 70% in 2019 so far.
Penny Stock To Watch #3: Affirmed (AFMD)
The final stock: Affirmed N. V. (AFMD Stock Report). The biopharmaceutical company engages in helping patients regain the ability to fight cancer. On Wednesday, the company announced that two products obtained from its cell engaging product AFM 13 have been accepted for presentation at the 15th International Conference on Malignant Lymphoma. The location of this conference is Switzerland, later this month.
It is a significant development for the German company. Following the announcement of this penny stock news, AFMD stock went up by as much as 35%.