Penny Stocks Can Be Incredibly Volatile. After The Trade Truce Over The Weekend, Could The Stock Market’s Rising Tide Lift All Ships On July 1?
It’s a brand-new month and official signal of the second half of the year. Investors will look to make this second half just as profitable as the first. One way to see large profits is to trade penny stocks. The penny stock definition specifies any stock trading below $5. The reason investors buy penny stocks is due to their high volatility that could result in large percentage gains. Here are some penny stocks to watch and start your month off with:
Healthcare Penny Stocks To Watch
Palatin Technologies Inc. (PTN)
Palatin Technologies Inc. (PTN Stock Report) is a biotech company creating treatments for diseases with retail potential and lackluster medical attention. They have 6 drugs going through clinical trials with Vyleesi almost on shelves. Vyleesi is its main product and treats hypoactive sexual desire disorder.
The company recently provided its investors with a mid-calendar corporate update. So far, based on stock movement, the update is being well received. The biotech penny stock is up 3.45% in premarket. The update included news involving Vyleesi receiving FDA approval and having $102 million in Pro Forma Cash.
AcelRx Pharmaceuticals Inc. (ACRX)
AcelRx Pharmaceuticals Inc. (ACRX Stock Report) is another healthcare penny stock to watch trying to innovate the field of medicine. The company boasts 2 drug treatments that have made significant ground in the US and Europe. They are called DSUVIA and Zalviso, all of its treatment plans have received approval except for Zalviso in the US.
Last week ACRX stock was getting hammered up until Friday, June 28th. The 28th brought the healthcare stock one if its highest volume days in recent history. In addition, the penny stock shot up over 20%. Could this signal a reversal for the company? So far on July 1st, the stock is gapping up an additional 2%.
Energy Penny Stock To Watch
Seadrill Limited (SDRL)
Seadrill Limited (SDRL Stock Report) focuses on the offshore drilling of oil and natural gas. The company can handle any drilling scenario with its array of ships. This includes, but not limited to, drill ships, semi-submersible, and tender rigs.
Seadrill is benefitting greatly from the G20 summit over the weekend where the US and China reached a trade truce. The penny stock is up an early 7% and could look to continue its move up from last week.