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With Fitbit’s Buyout, Investors Are Hunting For More Penny Stocks To Watch In November

Penny stocks can be very lucrative if traded properly. You might be wondering what it means to “trade properly.” Well for one, penny stock traders that trade with emotion tend to lose lots of money so you should avoid doing this. In addition, trading penny stocks with high volatility can cause you to gain or lose money very quickly so you should come in with a game plan.

Another thing every investor or trader should do on a day-to-day basis is keep up with the market. This means reading articles, watching pre-market updates, or scouring financial websites. You should also pay attention to penny stock news for any companies you are planning on investing in. Here are a few penny stocks to watch as we wrap up this week:

CHF Solutions Inc. (CHFS)

penny stocks to buy CHF Solutions (CHFS)

Kicking things off from the healthcare sector is CHF Solutions Inc. (CHFS Stock Report). CHF Solutions is a medical device company aiming to help patients with heart failure and other conditions like fluid overload. The company developed and commercialized the Aquadex FlexFlow System. This removes salt and water in patients with fluid overload.

CHF recently announced a sales force realignment that will increase focus on cardiac surgery and pediatrics. After this news was released, CHF Solutions’ stock has thrived during premarket hours on November 1st. The company’s stock price has risen from $0.92 all the way to $1.90, a 106% move. Furthermore, the penny stock news has brought in an influx of trading volume.

California Resources Corporation (CRC)

penny stocks to buy California Resources Corporation (CRC)

Next up on the list is an energy company based solely out of the state of California. California Resources Corporation (CRC Stock Report) explores, produces, and processes natural gas, natural gas liquids, and crude oil. The company boasts a large portfolio of opportunities across California’s 4 major oil and gas basins.

During October 31st’s trading session, the company’s stock price fell below the $5 penny stock threshold. It eventually climbed out closing at $5.59 but the real news is what is happening on November 1st’s premarket hours. California Resources announced its Q3 results which showed promising numbers for investors. After this, the stock has climbed 29%, all the way to $7.19 on above-average trading volume.

Advaxis Inc. (ADXS)

penny stocks to buy Advaxis Inc. (ADXS)

Another penny stock we’ve reported on in the past is Advaxis Inc. (ADXS Stock Report). Advaxis is a biotechnology company that develops and sells a variety of immunotherapy products. They create these products and leverage its Lm Technology platform. At the moment, the company currently has 5 ongoing clinical trials for immunotherapy treatments targeting several forms of cancer.

Unlike the other penny stocks on this list, Advaxis does not have an immediate catalyst. However, the company’s stock is riding momentum from the trading session on October 31st where it rose 13.4%. So far, the biotech penny stock has risen 5% going from $0.3165 to $0.3325 during early market hours.

Some Other Biotech Penny Stocks To Watch

Biotech stocks have been among the most popular stocks for investors for more than a decade now. It’s understandable considering the sort of growth the sector has enjoyed. Due to the sustained growth enjoyed by the sector, many small companies have also managed to grow significantly over the past few years.

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Hence, it’s no surprise that penny stocks in the biotech sector are quite an attractive asset class. However, an investor needs to conduct thorough research in order to find the right investment. Here is a look at a few more biotech penny stocks investors are tracking in November:

Agile Therapeutics (AGRX)

penny stocks to buy Agile Therapeutics (AGRX)

This biotech penny stock was one we identified after it hit 52-week lows at the end of October. Agile Therapeutics Inc (AGRX Stock Report) enjoyed a meteoric rise on Thursday after the company announced that a committee of the FDA voted in favor of its contraceptive product. Agile is primarily involved in women’s healthcare products and the contraceptive product in question is Twirla.

The favorable outcome from the FDA committee is an indication that the product could hit the market. The next goal would be a boost to the company’s bottom line. As soon as the news broke, the stock started soaring and went up by a staggering 224% on Thursday. It goes without saying that the Agile stock should go straight into all investors’ watch lists.

Foamix Pharmaceuticals (FOMX)

Foamix Pharmaceuticals (FOMX)

The other penny stock that has experienced a good week thus far is Foamix Pharmaceuticals Ltd (FOMX Stock Report). Last week, the company announced that it had entered into a manufacturing/supply agreement with ASM Aerosol-Service for two of its products. The products in question are AMZEEQ, which was approved recently and FMX103, which is the former’s, product candidate.

It is a significant development for Foamix. So it was no surprise that the news resulted in a major rally in the stock. FOMX stock has gone up by as much as 38% in a week.

 Galmed Pharmaceuticals (GLMD)

penny stocks to buy Galmed Pharmaceuticals (GLMD)

Last but not least, Galmed Pharmaceuticals Ltd (GLMD Stock Report) stock emerged as another biotech penny stock to watch. It generated impressive gains on Thursday. Yesterday, Galmed announced an important update with regard to its liver medicine Aramchol.

The company announced that that data will be presented at the American Association for the Study of Liver Diseases. This goes on from November 8 and November 12 in Boston. It’s also likely that the anticipation of the data presented may have helped push the stock price up by as much as 31% over the last 2 sessions.

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