When it comes to penny stocks, investors continue to seek that rush. If you’re new to penny stocks, the rush we’re talking about is quick profit. Where it could take years or months to see a 20% move in Apple or Facebook, penny stocks can see comparable gains within days or even hours.
Therefore, it makes sense when investors scour the market for the best penny stocks to buy. However, you need to conduct a lot of research in order to find these potential breakout-stocks. Keeping an eye on the market is imperative to have any kind of success.
Since this is the last day of August, it’s time to start thinking about September. Here is a look at three penny stocks that may find their way to penny stock watchlists next month.
Penny Stocks To Watch #1: Cemex (CX)
One of the penny stocks that has generated significant gains over the past few weeks is Mexican cement manufacturer Cemex (CX Stock Report). Over the past two weeks, the Cemex stock has gained as much as 25%. On Thursday alone it recorded another 10% jump. The reason behind the current rally in the stock is that Cemex started stock buybacks on August 19.
Since that day, the company has apparently bought back as many as 125.7 million shares. Are you surprised at the rally? Reports have stated that despite this massive spending spree, the company might continue to buy back shares.
Penny Stocks To Watch #2: GameStop (GME)
GameStop Corp. (GME Stock Report) has been in the middle of a rally for over the past two weeks for a variety of reasons. On Thursday, the penny stock soared by 10% after the video game retailing company announced the launch of its website.
Over the past two weeks, GME stock has climbed by as much as 36%. The company announced that it had laid off 120 employees as part of a cost-cutting process and that sent the stock higher.
However, later on, GME stock climbed significantly after Michael Burry of ‘The Big Short’, revealed in an interview that he held 3 million shares in the company. This has made a bullish case for the penny stock.
Penny Stocks To Watch #3 Appliance Recycling Centers (ARCI)
Another one of the penny stocks on investors’ watchlists, Appliance Recycling Centers of America, Inc. (ARCI Stock Report) managed to record significant gains on Thursday. This came after announcing that the recycling exchange program has been a hit. The penny stock’s news was welcomed by investors and the stock rose by as much as 15% on Thursday. It remains to be seen how the stock behaves over the course of the next few trading sessions.