Penny stocks are priced under $5. While it’s true that those stocks are notorious for their volatility, it is also important to keep something in mind. There’s also a strong possibility of making significant gains. The volatility makes it possible for these stocks to experience massive price fluctuations. A trader with a keen sense of risk can often make money with penny stocks.
However, it’s important to make a short list of penny stocks before plunging into the arena. Here are three penny stocks which have been gaining special attention in the past few sessions.
Penny Stock #1: India Globalization Capital (IGC)
Hemp has been a growing industry in the United States for some time. India Globalization Capital (IGC Stock Report) is one of the smaller outfits in the business. The company’s stock jumped by as much as 48% on June 14. This was after it said it would be one of the participants at the Industrial Hemp Program in Arizona. It’s also nice to note that we’ve been following this marijuana penny stock for most of June as well (see: 5 Marijuana Penny Stocks To Watch).
The company’s subsidiary, Holi Hemp will now be able to start cultivating hemp in Arizona and constitutes a major step in its quest to become a larger player in the industry. Entry into the growing CBD industry is a major positive for IGC.
Penny Stock #2: Ampio Pharmaceutical (AMPE)
The other company, a biotech penny stock, that soared last week was Ampio Pharmaceuticals (AMPE Stock Report). Ampio managed to get FDA approval for a special protocol assessment that it had developed. The name of the protocol in its entirety is “A Randomized, Controlled, Double-Blind Study to Evaluate the Efficacy and Safety of an Intra-Articular Injection of Ampion in Adults with Pain Due to Severe Osteoarthritis of the Knee.”
After the news broke, AMPE stock went up by as much as 12%. But it is important to note that the final decision from the FDA is still forthcoming. It will be available once the whole data in the application has been examined by the FDA.
Penny Stock #3: Avadel Pharmaceuticals (AVDL)
Last but not least, Avadel Pharmaceuticals (AVDL Stock Report) has been on a roll over the course of the month so far. The Avadel stock has risen by as much as 200% this month and on Friday, it experienced a rise of 20%. We’ve followed this penny stock throughout June and so far it has continued to rise (see: The Top 10 Penny Stocks Of June; One Is Up 1,200% This Year, Alone). The rise that AVDL stock has enjoyed is partly due to the developments on May 22nd. The FDA had accepted Avadel’s application for the product AV001. Moreover, it has also been given priority status and the review could be over in six months.