Putting Together A Penny Stocks Watch List For Next Week?
Trading can take years to bring investors substantial profits. This is where penny stocks come in and unlock much higher return-potential. When you compare blue-chip stocks to small-cap stocks, you can clearly see small-caps tend to have higher short-term percentage gains. This is thanks to the increased volatility and speculation surrounding them.
But are penny stocks worth it? This volatility and speculation can also turn around and hurt investors. You must do in-depth research before you buy penny stocks as well as coming up with a trading game plan. If you do this, trading penny stocks will be easier and potentially more profitable. Here are a few penny stocks that people will be making a decision to either buy or sell next week.
List Of Penny Stocks To Watch #1: Bionano Genomics Inc. (BNGO)
To kick things off we have Bionano Genomics Inc. (BNGO Stock Report). The company definitely pursues a niche market within the healthcare sector. Bionano is heavily committed to developing genome mapping technology to improve the quality of life. As of now, it offers 4 different products ranging from Bionano Chips to Bionanao Data Solutions.
In terms of price action, this company is in a different situation compared to the rest of this list. The company had a fantastic trading session on October 16th thanks to some news.
It was an announcement relating to Clinical Cytogenetics Groups adopting Bionano’s Saphyr System. The stock rose by as much as 700% but gave back a lot of those gains by October 17th’s close. It is also gapping up on the 18th and could be a good sign for the company to make another push upwards, only time will tell.
List Of Penny Stocks To Watch #2: Ring Energy Inc. (REI)
Next up for discussion is Ring Energy Inc. (REI Stock Report). Ring Energy is an oil and gas development company with an estimated 36.6 million barrels of oil. The company is currently developing its drilling operations in San Andres to be more efficient and productive. This strategy is aimed towards maximizing shareholder value.
As the company enters Friday October 18th’s trading session, it is trading at a 7.2% increase during premarket hours. This move is further continuation from October 15th’s momentum. Ring Energy released its Q3 financials on the 15th and since that point, the stock has jumped 43.8% before the 18th.
This giant move also came with abnormally large volume spikes this entire week. However, by the end of the day, REI stock essentially gave back most of the gains it saw from its previous session. Can it recover next week or is this the bell ringing to end its bull trend?
List Of Penny Stocks To Watch #3: Mallinckrodt plc (MNK)
Another big player in the healthcare sector is Mallinckrodt plc (MNK Stock Report). We have discussed this company quite a few times because it continued to gain attention from investors. The company manufactures medicines for patients with unmet medical needs. This includes drugs like ActharGel, INOMAX, and OFIRMEV.
Mallinckrodt has had a very good week thanks to healthcare news that released on Wednesday October 16th. Big opioid companies were reported to be reaching settlements for lawsuits against them which made opioid companies, like Mallinckrodt, rally.
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Since then, the company’s stock price has been propelled up by 22.6% and look to make a continuation move on the 18th. So far, the penny stock on the 18th is gapping up during premarket hours by 6.25%.
List Of Penny Stocks To Watch #4: Attis Industries Inc. (ATIS)
Typically, companies are very focused on one industry. However, Attis Industries Inc. (ATIS Stock Report) has its feet dipped in healthcare, technology, and medical waste. This strategy protects investors in the same way they would diversify their portfolios. If one of these businesses fail, it is not the end all for the company thanks to its proactivity in acquiring different businesses.
The company recently provided an update regarding the status of its Nasdaq listing. It revealed that the company is not in compliance with a Nasdaq listing requirement. It does not have a minimum bid price above $1.00 per share but Attis plans on fighting this by completing its SEX filings. Since this penny stock news came out, the stock is up 75% and is gapping up an additional 61.6% on the 18th.
Similar to REI, ATIS stock has seen wild trading on Friday. Even with the heavier pullback from premarket highs of $2.85, shares remain much higher than where it closed Thursday. Given the higher volume, will this be on penny stock watch lists Monday?
List Of Penny Stocks To Watch #5: McDermott International Inc. (MDR)
The final company on this list is an energy and technology combo. McDermott International Inc. (MDR Stock Report) is a technology innovator and provider for several energy companies. For instance, the company has provided industry leading petrochemicals, refining, and gas processing technologies.
Unlike the other companies on this list, McDermott International does not have a very recent news catalyst pushing it. Nonetheless, this stock has been going crazy all of October and this week was no exception.
The stock has risen 20% over the last 4 trading sessions and the gains do not stop there. It is gapping up an addition 2% during premarket hours on the 18th as it looks to close the week strong.
Penny Stocks To Buy Or Avoid?
On this list of penny stocks, there are a few companies that have enjoyed incredible rallies. Others have just started to hit the volume scanners. Though there’s no crystal ball, these stocks caught attention this week. Will they be on penny stock watch lists next week? That’s still yet to be seen but one thing’s certain, they had a big week this week. Let’s see what happens during the last full week of the month next week.