Investing in penny stocks is rewarding. That is if you can choose the right stocks to buy. Penny stocks are characteristic of high volumes, big moves and they are very affordable. This is in comparison to blue-chip stocks like Facebook or Twitter. As long as you have a plan, your chances of success are generally higher than trying to catch lightning in a bottle. With this in mind, here are three penny stocks to watch this month.
Penny Stocks to Watch #1: Stages Stores (SSI)
Stages Stores Inc. (SSI Stock Report) closed last month with its share price slightly above $1.00. Its 30-day trading average was around $1 bringing it back to compliance with listing standards at the NYSE. In June this year, the company received notification from the NYSE regarding the price of its common stock falling below $1. Stages Stores had six months to reclaim compliance with minimum share price requirement and now it has.
Over the last few weeks, shares of SSI stock have jumped big; over 80% since the start of the month. This was thanks to several moves made to streamline the company’s business operations. We outlined this in a larger article here. All-in-all, SSI stock has soared 180% over the past month and made a new 52-week high of $2.50 in Friday’s trading session.
Penny Stocks to Watch #2: GoPro (GPRO)
GoPro Inc. (GPRO Stock Report) is another penny stock that investors may want to watch this month. Its shares popped 12% on Friday after Prentice Capital Management announced an increased stake in the company. GoPro also indicated that it had begun shipping its flagship camera, Hero 8 Black.
Currently, Prentice owns up to 12.5 million shares of GoPro representing 10% interest in the company. Following the increase, Prentice now becomes the largest institutional stockholder in the company ahead of Vanguard and Blackrock.
GoPro has been an interesting stock to watch. Although it has lost ground in recent times, investors are optimistic it could pull a comeback. In the past three years, shares have dropped by 75%. Investors are banking on the faith Prentice has shown on GoPro as well as a favorable response from the new Hero 8.
Penny Stocks to Watch #3: Titan Pharmaceuticals (TTNP)
Biotechnology company Titan Pharmaceuticals Inc. (TTNP Stock Report) is another penny stock to watch. It’s already had some gains at the beginning of the month. The company, compared to other biotech companies, may have an edge. This is considering it already has a chronic disease treatment in the market; Probuphine. On top of this, it is working on the development of T3 implants and Ropinirole.
TTNP stock is heating up and on Friday the stock gained 34.29% to close the session at $0.43. Needless to say, TTNP hasn’t come without its own hurdles. Shares of the company have dramatically declined since August. The announcement of a discounted capital raise and missed earnings saw shares drop from over $1 to lows of $0.2411. Either way, going forward, Titan may be an interesting penny stock to watch.