By Definition, Penny Stocks Are Known For Their Volatility But Should These Be Penny Stocks To Buy Or Avoid In June?
While penny stocks hold a lot of attraction for investors, these stocks also have the tendency to quickly drop in value. Therefore, it’s necessary for investors to do thorough research on the different penny stocks in the market. You’ll want to know which penny stocks to buy and which to avoid. Making such a list can go a long way to ensure that you can protect your capital. On that note, here is a look at 3 penny stocks that have seen a crazy month:
Penny Stock #1: FuelCell Energy (FCEL)
One of the major losers among energy penny stocks this month has been FuelCell Energy Inc (FCEL Stock Report). The company has been going through management uncertainty. Arthur Bottone, the Chief Executive Officer had decided to step down from his role all of a sudden. Since then the company has been looking for a replacement. This helped bring on the bears causing FuelCell into uncertainty. At one point this year, FCEL stock was trading as high as $11.28. Today it trades below $0.20.
It hasn’t been all bad especially if you’re a day trader and can capitalize on quick spikes. Shares rose a bit on June 12th after the company signed a licensing agreement with Exxon Mobil (XOM Stock Report). But it soon plunged again. The stock has declined by as much as 98% since hitting its 2019 high. This FCEL stock chart just shows that a stock can always go lower.
Penny Stock #2: VBI Vaccines (VBIV)
From a big picture, VBI Vaccines Inc (VBIV Stock Report) is technically down on the month so far. But recent trading has shown the biotech penny stock recover a bit. Still VBIV stock saw a significant setback on June 17th.
This was when the company failed to demonstrate that two doses of its hepatitis B vaccine were as potent as three drops of the competing product. It’s important to note that the competing product is made by GlaxoSmithKline (GSK Stock Report) so this was stiff competition. In any event, this proved to be a major setback as the shares collapsed.
Shares were down by as much as 66% after the news broke. The stock is down 45% for the month of June so far. But ever since hitting lows of $0.57, VBIV stock has recovered significantly. On Tuesday, the stock hit highs of $1.49; a move of over 150% within just a few weeks. Will VBIV stock keep going higher or will it take its rightful place in the losers circle?
Penny Stock #3: Sellas Life Sciences (SLS)
Last but not least, Sellas Life Sciences Group Inc (SLS Stock Report) has also plunged in the month of June. And really, SLS stock is down big for the year so far. The company remains one of the biggest losers among penny stocks.
The stock started plunging after it produced unimpressive data with regards to its breast cancer medicine Nelipepimut-S (NPS) Plus Trastuzumab. The stock has dropped by 70% in June after the announcement. Since January highs of $1.79, shares are down by a jaw-dropping 93%.
[Next Article] If You’re An Active Trader, You Need To Check This Out | Are These The Best 7 Penny Stock Trading Apps of 2019?
