Penny stocks move extremely fast. So chances are you might miss a really good one. When trading penny stocks, you should stay up to date on the latest and strongest moves.
After all, it could lead to enormous profits. Pay attention to everything from penny stock news to corporate filings and everything in between.
It’s even possible for a 3rd party article in a local newspaper to act as a catalyst at times. having said this, there are several penny stocks to watch as the month of August ends and September begins.
Here are some penny stocks to watch that have been catching investors’ eyes:
Penny Stocks To Buy (or avoid) #5: Eros International Plc (EROS)
One of the first penny stocks to watch is Eros International Plc (EROS Stock Report). The penny stock has been on the move recently. On August 21 the company announced a partnership with Vodafone Qatar. This deal expands on its footprint in Qatar and builds upon the consumer experience.
Shares of EROS stock have climbed by as much as 35% since August 26. Though this is significant, it’s still far away from where shares previously traded back in June (above $7).
Commenting on the announcement, Ali Hussein, COO, Eros Digital, said, “Eros Now is constantly working towards creating ground-breaking content that connects with audiences globally. Our association with Vodafone Qatar further reinforces our aim of providing Indian entertainment content and build deeper engagement with the consumers in the country.”
Penny Stocks To Buy (or avoid) #4: AcelRx Pharmaceuticals, Inc. (ACRX)
The next penny stock to watch, AcelRX (ACRX Stock Report) has had two consecutive days of price and volume momentum building. On August 29, the stock jumped to highs of $2.47. That marks a move of 19% since it’s lows on the 28th.
So what happened with AcelRX? Well, you’ll see that there hasn’t been any recent news. The company, however just got done presenting at the 2019 Military Health System Research Symposium last week.
After that, a quick look at ACRX stock filings shows a FORM 4 filed on August 26. Board member, Mark Edwards appears to have picked up about 15,000 shares of stock, lifting his holdings to 213,750 shares.
Penny Stocks To Buy (or avoid) #3: J.C. Penney Company Inc. (JCP)
The J.C. Penney Company Inc. (JCP Stock Report) is one of the oldest retail companies in the world. The company sells clothing, footwear, beauty products, and many other items. JCP stock has been killing it the last 2 days gaining over 45.6%. Today alone, the stock shot up 22% from the opening bell.
This impressive move can be attributed to some recent penny stock news. The CEO of J.C., Jill Soltau bought $290,000 worth of shares along with some other insiders.
Those insiders bought an additional 1.85 million shares at an average of $0.59. After the healthy pullback from $0.83 highs, will JCP stock continue to hold its uptrend or fall back to previous levels?
Penny Stocks To Buy (or avoid) #2: Acasti Pharma Inc. (ACST)
Biotechnology penny stock Acasti Pharma Inc. (ACST Stock Report) is known for its cardiovascular drug, CaPre. This drug is used to treat hypertriglyceridemia which affects around a third of the US population. It is currently undergoing Phase 3 trials. Should it be successful, there could be a large market for the drug.
Acasti announced some major company news which may have helped trigger the price action in the biotech penny stock. This included the election of its directors, amendments to its stock and equity incentive plans.
Penny Stocks To Buy (or avoid) #1: TRACON Pharmaceuticals Inc. (TCON)
The last penny stock on the list, TRACON Pharmaceuticals Inc. (TCON Stock Report) is another biopharmaceutical company. It creates and sells treatments for cancer and age-related macular degeneration. Furthermore, the company currently has 6 potential treatments under development in its pipeline.
Over the last 2 days, the company has announced they will be presenting at 2 different conferences. One is at the RHK Capital 4th Annual Disruptive Growth Conference. The other is the Wells Fargo Securities Healthcare Conference. These announcements have brought additional attention to the healthcare penny stock.
HC Wainwright initiated coverage on the penny stock with a BUY rating and $2 price target. Will this be enough to identify it as one of the penny stocks to buy in September?
