Investing in penny stocks can often prove to be extremely lucrative. That’s simply due to the fact that these stocks are low-priced. Even a little upsurge can result in a significant profit. However, it’s also important to note that penny stocks are highly volatile and investors need to choose wisely.
In such a situation, it’s important to make a list of penny stocks that are performing well and through such an approach, it is easier to eliminate mistakes. With that in mind, are these 3 penny stocks to buy or sell in July?
Penny Stock #1:
Nabors Industries (NBR)
One of the companies that rallied over the past few weeks is drilling company Nabors Industries Ltd (NBR Stock Report). The penny stock surged by as much as 45% as the price of recovered. This was due to a range of global factors. In Q1 2019, Nabors generated revenues to the tune of $809.3 million. That beat analysts’ estimates of $774 million, comfortably.
The growth in the company’s United States drilling interests helped it in increasing its revenues significantly from $734.6 million in Q1 2018. Nabors managed to reduce the loss per share from 46 cents in the year-ago quarter to 36 in the latest one. More importantly, the company now operates as many as 120.9 oil rigs in the U. S. That compares to 111.8 in the same period last year.
Penny Stock #2:
Foresight Autonomous (FRSX)
Foresight Autonomous Holdings (FRSX Stock Report), a company that develops and commercializes sensor systems, soared on Friday after it struck a significant deal. The company struck a deal with a Tier One supplier in China. The company will develop mobility solutions applied within the automotive sector. Foresight now becomes the original equipment manufacturer for two manufacturers in China. This is a significant deal and after the announcement on Friday, FRSX stock soared by as much as 27%.
Penny Stock #3:
Opko Health (OPK)
Opko Health Inc (OPK Stock Report) has been another penny stock in a sustained run over the past few weeks. OPK stock gained 10% on Friday after positive developments. The week before, the stock also gained 20%.
It emerged that Novitas Solutions was going to allow reimbursements for OPKO’s 4K test for prostate cancer. Considering the fact that Novitas is spread across several key states in the US, that could be a significant development for OPKO. This may also become a penny stock to watch in July depending on what happens next.