Penny stocks are still thought of as the wild west of stock trading. But that doesn’t prevent you from making a lot of money either.
When you think of these types of small cap and micro cap stocks, you’re likely of the mindset of high risk-high reward. But make sure you keep this in mind. Not every penny stock to buy will go up 100% or more. Some stocks only jump a little and others don’t jump at all. In fact, there are plenty of companies that will end of failing or reporting major losses. This can negatively impact share prices.
But for certain companies, strong progress and favorable market conditions could make for the perfect storm. When you invest in penny stocks, it still may be prudent to take a short-term outlook. May not be years or months but could potentially be days or weeks. When a stock like Twitter or Facebook drops by $0.50 or $1, the impact on the stock isn’t that bad. But when you’re talking about different penny stocks, a drop of even 2 cents can crush a portfolio.
That’s why it’s very important to do your research and stick to a trading strategy. Because when it does come time to buy penny stocks on the move, your watch list will thank you in the end. In this case, we’re taking a closer look at some of the top penny stocks for August 2019. Every one of them has moved up by more than 100%. Can the trend continue?
Sintx Technologies (SINT) – Penny Stock Up 200% In 2 Days
Shares of this penny stock have been on a wild ride this year. For the majority of this quart, SINT stock has been beaten down. But on Thursday, Sintx Technologies (SINT Stock Report) not only traded its highest volume day, but it also capped new August highs.
The Salt Lake City-based ceramics company reported financial results for both 3 and 6-month periods. Revenues topped $300k for the first 6 months. But what’s more interesting is the narrowing of its basic net loss. The company reported $0.78 per share net loss for the period ending June of this year. For the same period last year, Sintx reported a loss of $11.19 per share. So it would appear that it has been focused on tightening up its operations over the last year.
Dr. Sonny Bal, President & CEO of SINTX said, “The transformation of SINTX from a retail spine business into an advanced ceramics company continues at an impressive pace.”
Will Sintx continue to be a penny stock to buy in August and September? So far, shares are up over 200% in the last few days.
PCT LTD (PCTL) – 263% Rally Within 2 Weeks
This company is a much lower-priced stock to watch this month. But shares are up big so far. In August, PCT LTD (PCTL Stock Report) saw prices open the month at $0.0127. It has since seen a low of $0.0085 and moved to highs of $0.0309 on Thursday morning. The interesting part here is that there hasn’t been much news from the company. The last formal announcement came in early May of 2019.
A deeper dive into some more recent 8-K fillings will show debt conversions as well. But one from July also shows that the company entered into a binding LOI with 2705908 Ontario Inc. Through the proposed agreement, Ontario will be allowed to buy at least 51% control of PCT. Based on this as being the most recent information, it could be what has helped momentum for the penny stock.
Taronis Tech (TRNX) – A Repeat Breakout Penny Stock Up 136% In August
Shares of Taronis Tech (TRNX Stock Report) have been on the move for months now. Pennystocks.com has been able to cover these moves along the way as well. Even as the stock has continued to climb, August saw a more aggressive move in the stock. Earlier this month, shares of the company started August around $0.42. Since then, they have soared to highs of $0.9913. It should also be pointed out that TRNX stock was trading as low as $0.129 less than 2 months ago.
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Just like a few other penny stocks to buy this month, Taronis has benefitted from strong news. Not only has the company put into place a stock dividend, but it also reported monthly results. Though most companies will report regular quarterly reports, Taronis has updated on July’s success. In an August 15 release, the company reported that monthly revenues jumped by over 120% vs. July of 2018.
Scott Mahoney, CEO of Taronis explained that “Despite a variety of challenges, we delivered another monthly of consistent improvement. Our focused marketing efforts more than offset normal summer seasonality in our south and southeastern markets.”
Arcadia Biosciences, Inc. (RKDA) – No Longer A Penny Stock, Up 402% In 9 Trading Days
No longer a penny stock, Arcadia Biosciences (RKDA Stock Report) has exploded in August. On the 5th, shares traded as low as $1.82 and on the 15th, as high as $9.15 before lunch. Within 10 trading days, RKDA stock has jumped by as much as 402%. But what was the reasoning behind such a large move? In this case, there were several technical and fundamental things at play.
First, the technical, 30,000 ft view. Arcadia had a lower float than most while also reporting favorable penny stock news. The company reported that the USDA approved its drought-tolerant soybeans. This came on the back of news that the company was also doing a joint venture for a hemp project in Hawaii.
Needless to say, this mix of market momentum and continued optimism has helped boost prices of the once-penny stock. After being beaten down for most of the year, shares are now within arms length of previous 52-week highs of $10.40. Will RKDA stock make new highs this month or will the run come to an end before September?
