Keeping track of penny stocks can be difficult especially when there are so many to choose from. Many investors don’t do the relevant research and can end up losing money with penny stocks. However, those who watch the market closely and make a list of penny stocks to buy, may stand a better chance.
The reason for this has to do with focusing on certain penny stocks to buy. Most investors will target certain technical trends and others may focus on fundamental information. On that note, let’s a look at two penny stocks which made gains recently.
Penny Stocks To Buy Or Sell #1: Achillion Pharmaceuticals (ACHN)
Achillion Pharmaceuticals, Inc. (ACHN Stock Report) has been on a roll over the past week or so. The surge in price continued throughout the week last week. ACHN stock price double throughout the course of the week as the company released highly encouraging data from its Phase 1 clinical study of ACH-5228. This therapy is an experimental oral factor D inhibitor.
Usually, encouraging Phase 1 trial results aren’t generally the reason for such excitement. But it’s important to note that analysts believe the data was much more positive than initially expected. That being said, the company may still have a long road before the product goes through all the hoops and finally gets the all-important approval. However, that’s not stopping investors from getting in on Achillion already. Shares of ACHN have doubled over the past week on solid volume.
Penny Stocks To Buy Or Sell #2: CannTrust Holdings
The other stock that made a surprising move on Friday was CannTrust Holdings (TRST) (CTST Stock Report). The marijuana stock had been in all sorts of trouble throughout the course of July. Earlier in the month, Health Canada had found that the company was cultivating cannabis in five unlicensed rooms in its Pelham location. CTST stock nosedived soon after and had slumped by as much as 50% as investors lost faith in the company. But, fear still looms that its license might be canceled by Health Canada.
Although the company had cooperated with Health Canada, its Chief Executive Officer Peter Aceto was actually aware of the unlicensed cultivation. Eventually, CannTrust took the drastic step and fired its CEO. The penny stock immediately shot up on Friday as investors figured that this was positive for the company’s long term prospects. On Friday, CannTrust stock went up by as much as 13% after this particular piece of news hit the wires.