[This article will be updated frequently and discuss top penny stocks to watch on a weekly basis]
If you are looking to make a quick buck, look no further than penny stocks. When trading penny stocks, investors can see their money double in a matter of hours. This is compared to mid and large-cap stocks where such moves could take years. Some of the money-making penny stocks to watch during the week of August 18th included:
Healthcare Penny Stocks
Vivus (VVUS Stock Report) is one of the biotech penny stocks that has gained momentum this week after making a major announcement. It was about its product Qsymia. It has emerged that a pilot study was conducted on the medicine at the Wake Forest School of Medicine. If you haven’t seen a chart, pull one up and you’ll see the market reaction; the findings were positive. After the penny stock’s news hit the wires, VVUS stock soon started climbing. It soared by as much as 30% on Tuesday and remains a stock to keep an eye on.
“This pilot study adds to the growing body of data supporting the use of Qsymia in a variety of therapeutic strategies for helping adults with obesity improve their BMI and achieve more healthy weight goals,” said John Amos, Chief Executive Officer at VIVUS.
“Additionally, the enhanced pre-LSG weight loss in the experimental group compared with controls further underscores the clinical benefit that Qsymia can provide even in patients with a BMI of 50 or more.”
Gold Penny Stocks
One of the sectors that has been on fire over the course of the past few months is the gold sector. The price of gold has soared during the period to levels that were last seen back in 2013. Due to the continued tensions from the trade war, the price of gold is expected to rise further. In such a situation gold penny stocks could prove to be an interesting focus.
Two gold penny stocks to watch this week include Harmony Gold Mining Co. (HMY Stock Report) and Iamgold Corp (IAG Stock Report). Both of these penny stocks have recorded significant gains this summer. Harmony rose by more than 10%, while Iamgold surged by 7%.
Harmony Gold has been on a run since late May. It’s hard to believe that this penny stock once traded below $1.60 but it did earlier this summer. Needless to say, the gold penny stock has managed to climb to fresh 52-week highs this week. The company reported fiscal 2019 results this week. It included narrowing losses and over 1.4 million ounces of gold production. In addition to this, Harmony is also mulling over the idea of buying new assets to breed new corporate growth.
“Mponeng is probably one of the many projects we are looking at. We are not against any investment in South Africa provided it matches our criteria and we can make money out of it,” CEO Peter Steenkamp told reporters in Johannesburg on Monday.
IAMGold is another one of the gold penny stocks to watch this week. This comes off the heels of a strong previous week. Analysts rose price targets for the stock, which helped build more interest. The company has seen a bit of turmoil at the ground level recently. Clashes have come about with illegal miners and the company has actually had to layoff part of its workforce while it figures out the situation. this happened at its Rosebel gold mine in Suriname.
Needless to say, in a similar fashion, IAG stock has performed well for the majority of the summer. Shares of the company were trading as low as $2.28 at the end of May. They have since jumped to highs of $4.17 earlier this month.
Technology Penny Stocks
One of the technology penny stocks that has been on an excellent run has been RADA Electronic (RADA Stock Report). On August 5, the company announced that it managed to secure as much as $9 million in new orders in July. That gave rise to a lot of optimism around RADA stock. Over the past two weeks, the stock has gained as much as 40%.
However, it is important to note that it has displayed excellent momentum over recent days as well. Another big penny stocks news boost on Wednesday further sparked investor interest. The company reported its second-quarter results. Sales of $10 million beat analyst estimates of $9.2 million and RADA also upped its 2019 revenue guidance. As a result, shares of one of the top tech penny stocks this year, hit fresh 52-week highs.
Mining Penny Stocks
Though it wasn’t listed as a gold penny stock, Alexco Resource Corp (AXU Stock Report) focuses on silver mining in Canada. has been one of the most impressive penny stocks in recent times. Over the past six weeks, AXU stock has been on a highly impressive run.
Shares have gained as much as 85% during that period. This week, the stock went up by another 9%. On August 14, Alexco published its Q2 2019 results and posted losses of $2 million against revenues of $11.6 million. But as we’ve discussed in the past, despite a loss, a “better” loss can be a sign of progress. Alexco reported a quarterly loss of ($0.01) per share.
This is better than the same period last year when it reported ($0.02) loss per share. This mining penny stock has soared to highs of $2.14 this month, up over 100% since the start of summer.
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