Penny stocks are considered to be any stock that is valued under $5. This means that they are very cheap stocks that investors can buy a lot of. It also makes it easier for smaller gains to be worth more. For instance, a blue-chip stock valued at $200 might move $1 a day. But that is only a 0.5% gain. On the other hand, a $4 penny stock moving $1 is a 25% gain.
However, there tends to be a reason why a company is valued under $5. This could include shaky financial statements, bad business plans, or the company just lacks “buzz.”
[Read More] 3 Best Penny Stocks To Buy This Month? 1 Up 50% This Week
This is why stocks releasing business development news, trading with above-average volume, and have active public discussion are likely the best penny stocks to watch. Here are some penny stocks to take a look at that meet these qualifications this week:
Penny Stocks To Buy Or Sell #3: FuelCell Energy Inc. (FCEL)
Let’s start this list of penny stocks with an energy company looking to fundamentally change the way we produce energy. FuelCell Energy Inc. (FCEL Stock Report) focuses on creating powerplants that are compact and produce efficient clean energy. The company announced that it is in a collaboration agreement with E.ON Business Solutions to develop the European energy market. As a result of this announcement, FCEL stock price has gapped up 28% during premarket hours.
“We have seen a significant increase in demand for clean, alternate baseload power solutions throughout Europe recently. Pollution in the form of NOx, SOx, and particulate matter generated from traditional combustion-based solutions also is an increasing issue, especially in highly populated areas.”
Jason Few, CEO and President of FuelCell
Penny Stocks To Buy Or Sell #2: NanoViricides (NNVC)
The next company is performing groundbreaking work within the biotechnology sector. NanoViricides (NNVC Stock Report) is developing nanomedicine to fight against viruses. The company utilizes its nanoviricide technology to attack enveloped virus particles. NanoViricides has 8 primary programs in its pipeline, all approaching Phase 1 clinical trials.
The company had some penny stock news come out on October 3rd. The news revealed that the company is creating nanomedicines to treat Shingles and Herpes. This is big because antiviral medicines are in high demand creating a large market potential. The biotech penny stock proceeded to jump from $2 to $2.40, a 22% increase, after the news.
Penny Stocks To Buy Or Sell #1: Taronis Technologies Inc. (TRNX)
The final penny to watch is Taronis Technologies Inc. (TRNX Stock Report). The company is another clean energy company but has a different approach. Taronis utilizes its Venturi Plasma Arc technology to turn liquids into sustainable, green metal-cutting gas. Taronis also has technology that can decontaminate waste water.
On October 3rd, Taronis Technologies provided an update regarding its contract with Turkey worth $165 million. The company met with Turkey officials and showed them MagneGas metal cutting fuel demonstrations. The aim of the meeting in Turkey was to raise awareness of Taronis Technologies. The energy penny stock is up 5.7% during premarket trading and is currently trading at $1.81.
