Penny stocks are probably one of the most interesting classes of stocks in the market. Firstly, these stocks trade for $5 or less on exchanges and that makes it an attractive stock to buy for plenty of investors. Additionally, the potential gains can be enormous if a penny stock truly takes off and there lies the lure of such stocks.
However, they are volatile in nature and hence an investor needs to keep an eye on the market before making an investment. Here is a look at three of the biggest gaining penny stocks in June:
Big Penny Stock Gainer #1:
DiaMedica Therapeutics (DMAC)
Minneapolis based DiaMedica Therapeutics (DMAC Stock Report) has been on a roll for much of the month of June and has gained as much s 80% in the month alone. However, the latest push for the stock came on Thursday, when the company announced the interim test results for its product DM 199.
The therapy treats chronic kidney diseases. The study found that the medicine in question is not only safe but also easily tolerated by patients. Following the announcement, the stock soared by as much as 30% on Thursday.
Big Penny Stock Gainer #2:
South Africa based gold exploration, processing and smelting company DRDGOLD (DRD Stock Report) has been on a high owing to rising gold prices. There has not been news regarding the activities of the gold mining company that was founded in 1985, but the rising price of gold has seen the stock rise by as much as 70% in June. According to experts, the price of gold could rise further due to rising uncertainties in the market.
Big Penny Stock Gainer #3:
Vuzix Corp (VUZI)
Smart glasses and augmented reality technology and product developer Vuzix Corp (VUZI Stock Report) has been another gainer among penny stocks this month. The stock has risen owing to multiple promising updates regarding the company. Last Friday, the company announced that its live theatre closed captioning solution meant for deaf individuals was demonstrated successful in collaboration with Rochester Institute of Technology. However, that is not all.
Earlier on in June, it had announced that in collaboration with Dubai based software developer NNTC, it had manufactured the world’s first AI run face recognition system named iFalcon Face Control. The system is compatible with Vuzix Blade Smart Glasses as well. Prior to that, the company had also announced a purchase order for 100 Blade Smart Glasses.
Owing to all these positive updates in June, the stock has surged by as much as 150%.