Investing in penny stocks can be highly rewarding if the right stocks are picked. But sometimes this means finding penny stocks to buy on different trading platforms. For example, Robinhood is a penny stock trading app that doesn’t charge its users a fee to place trades. In addition to that, the Robinhood app offers other features that users can pay for like premarket trading access among other things.
When it comes to the standard penny stock definition, you’d typically think of a stock below $5 a share. Nonetheless, apps like Robinhood or WeBull will restrict access to certain penny stocks like OTC penny stocks. No matter where you find your penny stocks to buy, one thing holds true. Before you decide to buy, you need to do your research.
An investor needs to keep track of the market and watch penny stocks that are making the big moves. On that note, here is a look at 5 penny stocks which made big moves recently. Some of them continue to head higher while others have begun to consolidate.
A Bio-Tech Penny Stock To Watch:
Penny stock news has helped robotic surgical system manufacturer Transenterix Inc (TRXC Stock Report). The company announced a significant deal and soon enough its stock surged higher. In a new development, the company sold some units of its image-based laparoscopic positioning system, AutoLap Great Belief International Ltd. This was a deal worth $47 million.
The stock jumped 26% after the news broke on Wednesday. However, the penny stock is still down 75% from its 52-week high of $6.98.
Pharmaceutical Penny Stock To Watch:
Sunesis Pharmaceuticals (SNSS)
Sunesis Pharmaceuticals (SNSS Stock Report) stock soared by as much as 26% in yesterday’s session. However, the stock was down as much as 16% in the pre-market session. This came after the company announced plans to sell some of its common shares as well as convertible preferred stock.
The initiative is going to be governed by market conditions and as of now, is unknown when it will take place. Additionally, no information has been forthcoming on the actual size of the sale.
Gold Stocks To Watch:
New Gold (NGD) & Coeur Mining (CDE)
Two gold stocks to watch, New Gold Inc (NGD Stock Report) and Coeur Mining (CDE Stock Report) surged by 10% and 8% respectively. This came after gold hit its highest level this week so far. The rise in the price of gold was triggered by the comments from Jerome Powell, the Chairman of the Federal Reserve.
He indicated that an interest rate cut could be a possibility. Prices of spot gold rose to $1423.80 per ounce, at one point. This reflected a rise of 0.4%. Also, U. S. gold futures went up by 1.1%.
Looking For More On Gold Stocks? Check Out 3 Gold Stocks To Watch Before The Jobs Report
Technology Penny Stock To Watch:
Vislink Technologies (VISL)
The other major gainer was advanced communications technology developer Vislink Technologies (VISL Stock Report). The company announced that it had bagged a significant contract from the US Army. The contract is worth $2.8 million but it could prove to be a long term association. Therefore, investors piled into VISL stock. Vislink gained 148% after the news broke.
However, the stock was down 32% in the pre-market session and has been rapidly falling since it broke out. It will be interesting to see the stock’s performance in coming sessions.