Check Out This List Of Penny Stocks To Watch This Week
Traders and investors are always looking for the next big-ticket penny stock that can bring strong gains. Trading penny stocks can bring large and quick returns to investors. This is because small-cap and micro-cap stocks are impacted more by price changes compared to large-cap stocks or “blue-chip stocks.”
Some of the best penny stocks to buy typically have high amounts of trading volume and some type of catalyst. This could be something like penny stock news or corporate filings. Furthermore, cheap stocks with strong momentum from previous trading sessions could look for continuations in trend. Here is a list of penny stocks to watch this week:
Penny Stocks To Buy (or Avoid) #1: Chesapeake Energy Corporation (CHK)
The first company we are going to talk about today is Chesapeake Energy Corporation (CHK Stock Report). This energy company is primarily focused in the acquiring and development of natural gas and oil properties. Currently, it has a portfolio of unconventional oil and natural gas assets that allows it to operate with low costs.
This energy penny stock has not been the strongest performer over the last year. Overall, it is down big for the year, -47%, but that doesn’t mean investors are not making money. The stock offers a lot of opportunities to capture weekly swing trades.
When looking at the company’s stock chart, Chesapeake follows a pattern of one bad week then one good week. That being said, the stock had a bad prior week so it could look to bounce back this week.
Penny Stocks To Buy (or Avoid) #2: Eros International Plc (EROS)
This next company is probably the most unique on this list of penny stocks, given its main operations. Eros International Plc (EROS Stock Report) is an entertainment company that acquires and distributes Indian language films. As of now, the company has rights to over 12,000 films and will only continue to expand. This is due to the fact that India is a rapidly expanding market.
Eros is another stock that has been hammered all year long. It experienced a violent gap down on June 6th where it fell 43% and still has not recovered. However, a glimpse of life has been shown over the month of September.
The company’s price got as high as $3.92 and brought in above-average volume levels. This momentum coupled with strong penny stock news could result in a strong week for Eros. During premarket hours on October 7th, it is already up 4.22%.
Penny Stocks To Buy (or Avoid) #3: Matinas BioPharma Holdings Inc. (MTNB)
Matinas BioPharma Holdings Inc. (MTNB Stock Report) is primarily focused on the treatment of cardiovascular and metabolic diseases. The company is achieving this goal through its lead product candidate, MAT9001 an omega-3 fatty acid-based prescription. Matinas has another treatment called MAT2203 which is used to treat invasive fungal infections. In order to create these drugs, Matinas utilizes its lipid nanocrystal platform technology.
The biotech penny stock closed out last week strong putting in a 6.79% increase. It is looking to continue upwards from October 7th to October 11th and is on the right track thus far. Martinas BioPharma’s stock is very cheap which means a 1 cent price increase could be a 1.5% jump.
So far, the stock is up $0.0443 which accounts for the premarket gap up of 6.46%. This is thanks to the company receiving orphan drug designation from the FDA for its treatment of cryptococcosis. But will it be one of the penny stocks to buy this week?
Penny Stocks To Buy (or Avoid) #4: Advaxis Inc. (ADXS)
The final penny stock on this list is another biotechnology company, Advaxis Inc. (ADXS Stock Report). Advaxis was founded on the belief that people should not suffer from cancer and has aimed to create cancer immunotherapies. The company currently has 4 immunotherapy treatments undergoing clinical trials. Its lead product is AXAL which attacks HPV cancers.
The company recently announced the updated data regarding its Phase 1/2 ADXS-PSA Trial. It stated that the median overall survival rate for ADXS-PSA with KEYTRUDA has grown by 12.5 months. As a result, Advaxis’ stock price is off to a hot start this week, gapping up 13.85% already. This move comes after a strong previous week where the biotech penny stock grew over 18%.
