If there’s one thing certain about penny stocks to watch it’s that some will see massive amounts of volatility. This usually goes against the normal market conditions for the S&P 500 or Nasdaq. But lately, we’re seeing big volatility across all markets. The benefit to those who’re looking to buy penny stocks is that the volatility swings can be 50% or more as opposed to a “Big Move” of 5% for stocks like Apple or Netflix.
With this in mind, we’re turning our attention to the week ahead. Now, it’s not unlikely that we’ll see 1 or 2-day breakout penny stocks. But looking at the market right now, we’ve found 6 companies that could be added to this week’s list of penny stocks to watch.
Some trade on major exchanges while others trade on the OTC. While most brokers will allow trading of these equities, certain penny stocks Robinhood users will see are unable to be traded on the platform. Most notably, OTC penny stocks aren’t accessible via the Robinhood trading app.
In any case, there are plenty of stocks to watch this week. Here are 6 to get you thinking:[sociallocker id=”2174″]
Penny Stock #1: Akari Therapeutics, Plc (AKTX)
This has been a penny stock to watch for the last few days. It’s also important to note that this stock is no stranger to monster breakouts either. Earlier in 2019, AKTX stock jumped from under $2 to as high as $9.20. Since then, this biotech penny stock has slowly declined. That was, of course, until this past week. Thursday and Friday Akari Therapeutics, Plc (AKTX Stock Report) saw increased trading activity and price movement as well.
So what happened to score a new bull trend? That’s hard to tell. The last piece of penny stock news from the company was back in June. They conducted a registered direct offering for gross proceeds of $4.5 million. In any case, irregular volume may be something to keep in mind heading into the new week.
Penny Stock #2: Alexco Resource Corp. (AXU)
This is another penny stock to watch after a big week last week. Alexco Resource Corp. (AXU Stock Report) has been climbing in price for most of the month of July, 2019. Why? Take a look at the news from this penny stock and you’ll notice a few things. First, the company began its summer surface drilling program in the Keno Hill Silver District. The focus is on a piece of land that has indicated resources totaling nearly 33 million ounces of silver.
The next potential catalyst has been the mining sector itself. We’ve discussed in the past that silver and gold penny stocks are getting attention due to volatility in the broader markets. With that comes flight to safe-haven stocks. Precious metals is one of those industries that fall into the “safe haven” category. After falling to lows of $0.95 in June, AXU stock has been climbing. As of Friday, this silver penny stock hit new July highs of $1.69.
Penny Stock #3: Tarena International. (TEDU)
If one thing’s certain it’s that you can’t go through the process of buying a penny stock without coming across a huge dog. These “dogs” are the ones that may be promising on paper but the stock chart gets completely demolished. This has been the case for Tarena International (TEDU Stock Report) for months. Since March, this penny stock has tumbled from $6.60 to lows of $0.92 last week.
But that may have changed, started at the end of the week last week. After hitting these lows, this penny stock rallied to highs of $2.25 on Friday. The latest confidence that a China trade deal may be closer than expected has helped boost related stocks. Though there was no news from the company recently, Tarena does have involvement in China’s education market.
Penny Stock #4: Fortuna Silver Mines Inc. (FSM)
This is another one of the penny stocks to watch that are in the mining sector. Fortuna Silver Mines (FSM Stock Report) reported production results for its Q2 operating mines. Fortuna has two mines in Latin America. One is the San Jose Mine in Mexico. The other is the Caylloma Mine in Peru. The favorable price of gold and silver surely helped bring more attention to silver and gold penny stocks over the last month.
For Fortuna specifically, it has also benefited from strong production figures. The company produced over 2 million ounces of silver as well as nearly 13,500 ounces of gold plus base metal by-products. On top of this, for the first 6 months, it produced more than 4.5 million ounces of silver and nearly 27,000 ounces of gold. Based on this, it’s no wonder why FSM stock has skyrocketed so rapidly. Will gold and silver prices continue to soar and help companies like Fortuna jump in market value? We’ll see what this week has in store.
Penny Stock #5: PCT Ltd (PCTL)
This is one of the penny stocks Robinhood users can’t buy yet. It trades on the Pink Sheets and until recently, the stock has been in a downward spiral. But the last 3 days of trading have sparked up both trading volume and PCTL stock price. In fact, PCT stock has been up by nearly 1,000% within the last 4 trading sessions.
So without any news on the wire, why are shares jumping? When it comes to penny stocks, you need to read everything. That includes corporate filings. On July 18 an 8K was filed, which signaled a material event for the company. From the look of it, a Canadian company (2705908 Ontario Inc) will be acquiring majority ownership in PCT Ltd. (PCTL Stock Report)
Penny Stock #6: Tautachrome, Inc. (TTCM)
This is another penny stock Robinhood traders can’t buy with the free app. The blockchain penny stock saw its shares scream during the second half of July. Since July 8, TTCM stock has jumped from $0.0051 to highs of $0.024 on Friday. That’s a move of over 360%. So why did Tautachrome (TTCM Stock Report) jump so high in such a short period?
Well, cryptocurrency, for short. The sector of the market that has been shadowed in questions has helped trigger a move for certain penny stocks. It also happens that this month Tautachrome released news. The company announced that it completed its KlickZie smartphone app. This is essentially the companies digital currency ecosystem, which includes blockchain technology.
The idea behind it is to allow people with smartphones a way to use and monetize their own images. There are other companies out there that do the same. So as this is the first PR in a while, we’ll see what may (or may not) come next for the company.[/sociallocker]