Are These The Best Penny Stocks To Buy This Month?
Penny stocks can often prove to be one of the most rewarding classes of stocks. Why? The reason’s due to the possibility of generating enormous returns in a short period of time. Not just enormous returns but returns that come with small price movement from penny stocks.
However, there is never a guaranteed way of making money with penny stocks simply due to higher risks. Therefore, an investor needs to study the markets well in order to identify the right penny stocks to invest in.
One of the best ways of going about it is by studying the market closely and watching for movements in penny stocks. Studying things like financial statements, looking to penny stock news, & monitoring other industry catalysts are good to watch. There are a number of ways to learn how to buy penny stocks.
For the purposes of this article, we won’t get into the details of how to make money with penny stocks. But there are a few articles you can check out by clicking here. Here is a look at three penny stocks investors should keep an eye on.
Penny Stocks To Buy (or Sell) In October #1 Capricor Therapeutics
One of the penny stocks to watch due to its recent performance is that of Capricor Therapeutics Inc (CAPR Stock Report). Back on September 24, the company had been granted a meeting by the United States Food and Drug Administration.
It was for its Duchenne muscular dystrophy treatment. Since then CAPR stock has performed admirably. On Monday the penny stock gained further as investors piled on.
Shares gained as much as 20% as Capricor stock started the week with a bang. It is one of the biotech penny stocks that have performed impressively over recent days. Obviously with news like this and the type of momentum CAPR stock is seeing, many will have it on their watch lists for the week.
Penny Stocks To Buy (or Sell) In October #2 Sienna Biopharmaceuticals
However, nothing quite matches the incredible rally in the Sienna Biopharmaceuticals Inc (SNNA Stock Report) recently. The clinical-stage biopharmaceutical company enjoyed an incredible rally and skyrocketed by as much as 76% on Monday.
There was no material news with regards to the company that could have been a catalyst. It is perhaps more intriguing since on September 17 it had emerged that the company had filed for Chapter 11 bankruptcy. This was done in order to restructure the company. That being said, the recent rally makes things very interesting. It’s likely that investors have added SNNA stock to their penny stocks watch lists this week.
Penny Stocks To Buy (or Sell) In October #3 Contango Oil & Gas
Another penny stock that has been on a tearing run over the course of the past three weeks is Contango Oil & Gas Company (MCF Stock Report). We originally reported on the company in September, “5 Top Penny Stocks To Watch Before October 1.”
During the course of the three weeks, the stock has gained in excess of 455%. This came after two key developments. Towards the end of September, the company announced that it had reached an agreement to buy the assets of White Star Petroleum.
White Star had filed for bankruptcy and Contango decided to pounce. The other trigger had come earlier on in September when the company announced the details of the private offering of its 44.7 million shares and priced them for a total of $42.5 million. Will MCF continue to be one of the penny stocks to buy in October?