When it comes to penny stocks, the tech sector has almost always been one of the favorites for many investors. It is one of the most dynamic industries in the world and even small companies can realize explosive growth.
Therefore, investors are always looking for the next tech penny stock to buy that could make it big. However, it is also necessary to track the market closely to unearth the next big tech penny stock. On that note, here is a look at 3 penny stocks that made big moves recently and with irregular volume.
Tech Penny Stock #1 Infinera
Infinera Corp. (INFA Stock Report) is one of the penny stocks that gained significantly over the past few days. But it is important to note that there has been no news from the company so far. This past week, INFN stock gained in successive sessions. On Thursday, it took its weekly rise to 20%. That being said, Infinera stock has fallen off a cliff over the past year and is currently down from its highs. The company recorded year on year revenue growth of 44% in Q1 2019.
The company is scheduled to report its earnings for the second quarter of fiscal 2019 on August 7, 2019, after the market closes.
Tech Penny Stock #2: Applied DNA Sciences
Applied DNA Sciences Inc (APDN Stock Report) is involved in DNA manufacturing for a range of solutions. The company announced that it had secured funding to the tune of $1.5 million. It goes without saying that it is a significant development for the company. However, Applied DNA stock declined by as much as 26% once the news broke.
Although the market reacted differently to the news, it needs to be pointed out that it is an important development. And one that we’ll keep an eye on over the coming weeks.
Tech Penny Stock #3: Exela Technologies
One of the other tech penny stocks to watch recently is Exela Technologies Inc (XELA Stock Report). The stock jumped by as much as 22% recently and eventually hit its highest level in two months. However, there hasn’t been any news with regards to Exela’s business that could have sent the stock higher. So pay close attention to technical indicators on this stock chart.
The impressive rally is something that cannot be ignored. So, perhaps it’s time to have the Exela stock on the penny stock watch list. As is typical with some small companies, momentum could precede other catalysts. Another reason that we’ll be following along this month.
