Over the years, plenty of investors have been able to make money with penny stocks. The fact that these stocks generally trade for less than $5 makes it possible for investors to buy a large number of shares for a relatively small amount of money.
However, when there is a surge in the price of the stock, the returns can sometimes be enormous. The interesting part, if you want to call it that, is that a price surge can be as little at $0.02. Because of the low price, penny stocks can move slightly in dollar amount but it can equate to huge percentage gains.
Obviously, that’s easier said than done. The best way of going about it is by having an eye on the market. On that note, here’s a look at 3 penny stocks to watch before the end of the month.
Penny Stocks to Buy or Sell #1: Marinus Pharmaceuticals (MRNS)
The first penny stock to watch is Marinus Pharmaceuticals Inc (MRNS Stock Report). MRNS stock had an excellent open on Thursday after the company made a significant announcement. Back in July, Marinus had suffered a setback after the trial for its postpartum depression medicine Ganaxolone ended up failing.
The stock was beaten down as well. But on Thursday, Marinus announced that it had a positive clinical readout for the same treatment. It goes without saying that it’s a positive development and the stock soon started making a move on the back of that news.
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Regardless, MRNS ended up closing red from the open and during premarket trading, Friday the stock has begun to trend lower. Will it be one of the penny stocks to buy or sell before the end of the month? Comment below.
Penny Stocks to Buy or Sell #2: Contango Oil & Gas (MCF)
One of the penny stocks that has been on a highly impressive run for the past two weeks is that of Contango Oil & Gas Company (MCF Stock Report). Earlier on in September, the company announced that it was going to make a public offering of its common stock. As many as 44.7 million shares were to be made available in the offering. It was supposed to raise $42.5 million. The news sent the stock flying and over the course of the past two weeks, it has gained almost 200%.
Penny Stocks to Buy or Sell #3: Nano Dimension (NNDM)
Another one of the beaten-down penny stocks that made a comeback in September is electronics provider Nano Dimension (NNDM Stock Report). Since September 9, the stock has rallied by as much as 40% and it has been displaying strong momentum.
On September 18, the company got another boost. NASDAQ granted it an extension of 180 days in order to regain its compliance with the bid price rule. It is an important development and one that could help the company in getting its house in order.
In addition, this week the company announced that one of its customers is using Nano Dimension’s DragonFly additive manufacturing system. The customer is using it to 3D print embedded sensors in electrical packaging.