top penny stocks to buy today

5 Penny Stocks To Watch Before The End Of October

With a large number of stocks on the market that you can trade, it can be overwhelming for new traders. They may not know a lot about stocks let alone what a penny stock is. The penny stock definition according to the SEC is any stock that is valued under $5. This means that investors with small portfolios can get in on these companies to make money.

Thanks to the inherited volatility that comes with penny stocks, investors can see massive profits. Multiple penny stocks can pop off during one trading session which means an even higher potential for profits. But hold your horses for a moment.

Just because you can make a lot of money with penny stocks doesn’t mean there isn’t risk. In fact, most new traders who take on penny stocks lose money at first. The main reason behind these losses is that new traders get excited. They let emotion play a bigger role than logic. It’s important to have a well thought out plan before trading.

Penny Stocks To Watch Before November

You can’t just jump into a trade without having a plan. One of the first things to do after learning some penny stock basics is to put together a watch list. You can do some deep diving to find a bunch of stocks to watch. Once you put together that preliminary list, it’s time to boil it down to a few that you think could have real potential.

If done efficiently, you can come across some of the top penny stocks in the market today. As an example, here are a couple of penny stocks to watch that are having an exciting month so far.

Stage Stores Inc. (SSI)

penny stocks to watch Stage Stores, Inc. (SSI)

One company having a very strong week hails from the retail sector. Stage Stores Inc. (SSI Stock Report) is a retail company that sells name-brand apparel, accessories, cosmetics, footwear, and home goods. The company has a presence in 42 states with over 750 stores as well as a website for the growing e-commerce market.

Stage Stores’ stock has been on fire over the last month and is riding that momentum on October 23rd. Over the month of October, the stock has risen nearly 63% and is pushing to make new 52-week highs. In addition, the company has increased 5% on the 23rd alone on some recent news. Stage Stores announced in-store package pick-up with Amazon Hub Counter which prompted this move.

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 “We began piloting the Amazon Hub Counter service a few months ago and are thrilled with the early results. This delivery option is a great way to welcome new guests to the Stage family of stores,” stated Michael Glazer, CEO of Stage Stores.

Cemtrex Inc. (CETX)

best penny stocks Cemtrex CETX

The on this list of penny stocks to watch is Cemtrex Inc. (CETX Stock Report). Cemtrex is a technology company that provides different technologies to various industries across the world. The company offers products such as SmartDesk, Vicon Security systems, and WorkbenchXR.

The company recently received $1.5 million in new orders from its Advanced Technology segment. The majority of the sales came from the United States border security for video surveillance equipment. As long as border security remains in the news, this will definitely be a penny stock to watch. This penny stock news has propelled the Cemtrex’s stock price 49%, going from $1.40 to $2.06.

Sugarmade Inc. (SGMD)

penny stocks to buy or sell Sugarmade SGMD

The final company on this list is Sugarmade Inc. (SGMD Stock Report). Sugarmade is engaged in supplying hydroponic and cultivation products. The main market it supplies is the agricultural sector including everything from cultivation to distribution.

Sugarmade’s stock has been off to a hot start during the trading sessions this week. The stock’s price has risen 59% going from $0.0101 all the way to $0.0163 with abnormally strong volume numbers. This was due to 2 news releases made by the company.

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First, the company finalized a landmark deal to acquire BZRTH Inc, an e-commerce supplier. Sugarmade got the penny stock exempt status which removed penny stockbroker limitations.

Northern Oil & Gas (NOG)

penny stocks to watch Norther Oil & Gas (NOG)

Last but not least, it was the Northern Oil & Gas, Inc. (NOG Stock Report) stock which proved to be another major gainer among cheap stocks this week. On Tuesday, the company announced that it has managed to get a credit facility worth $800 million.

In addition to that, the company has also launched a consent solicitation from its shareholders. These developments have led to a lot of optimism among shareholders and the stock has rallied by 8% so far.

On top of this, the company has been attracting additional investment from outside firms. Earlier this week it was reported that Angelo, Gordon, and Co had a 7.98% stake in the company. Furthermore, S&P Group revised the company to “stable.” Thanks to these additional updates, the market continued its bullish trend this week.

Mallinckrodt (MNK)

top penny stocks Mallinckrodt (MNK)

This has been no stranger to a strong list of penny stocks this month. Mallinckrodt (MNK Stock Report) was first reported on in September and we recently gave an update late last week. The article was fittingly titled, “5 Penny Stocks To Buy Or Sell Next Week?” The company is a drug manufacturer focused on patients with unmet needs. The pipeline includes ActharGel, INOMAX, and OFIRMEV.

A lot of the speculation has built around the company’s upcoming presentation in November. At The Liver Meeting 2019, the company will present results from a Phase 3 CONFIRM study. This could be pivotal for MNK stock.

The reason being is that late-phase trials like this can become “make or break” for biotech companies. As of now, MNK stock has held up a consistent multi-week move of more than 50%. With weeks left before these results, what might the future hold for Mallinckrodt?

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