Can These Penny Stocks Make New November Highs This Week?
Penny stocks are widely considered very speculative due to inherent volatility. However, this volatility is what attracts new investors to cheap stocks. Trading penny stocks can bring very large and quick returns that blue-chip stocks take forever to achieve.
However, there are strings attached to penny stocks. While the volatility can produce profits, it can also result in heavy losses if you don’t trade carefully. When looking for penny stocks to buy, you should always trade with a game plan.
That includes having things like stop losses in place for when things get shaky. This will help you maximize profits while mitigating losses. Here are a few penny stocks to watch at the start of November:
Penny Stocks To Buy [or sell] #1: Agile Therapeutics Inc. (AGRX)
Kicking things off is a healthcare company known as Agile Therapeutics Inc. (AGRX Stock Report). Agile Therapeutics is focused on filling the unmet medical needs of women. The main treatments it provides aim to provide women with contraceptive options other than taking a daily pill. Its lead product is called Twirla, and it is a contraceptive patch that lasts for a week.
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This company is by far the most interesting on this list as we go further into November. We initially brought attention to it in our update on the evening of October 30 when it hit 52-week lows. On October 31st, Agile’s stock flew over 225% and it didn’t just stop there. On November 4th, the penny stock ran up to highs of $1.89 on very strong trading volume.
This marked a move of more than 400% since the date of publishing. So what actually happened? All of this momentum came after the company announced its contraceptive patch, Twirla, got a favorable FDA committee nod. Can AGRX stock boost to new November highs again this week?
Penny Stocks To Buy [or sell] #2: Antero Resources Corporation (AR)
The next company on this list of penny stocks is Antero Resources Corporation (AR Stock Report). This is an energy company that develops oil and natural gas properties in the Appalachian Basin for oil and gas production. The company is the most integrated NGL and natural gas business in the US.
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Antero recently reported its Q3 financial and operational results on October 29th. Some highlights included a 24% increase in natural gas production. The company’s lease operating expenses have also been declining and are expected to decline further in Q4. So far, AR stock has risen 18.8% in November thus far with 12% of those gains coming from Monday’s trading session.
Something to also keep in mind is that the company has an active share repurchase program right now. In its latest filing it showed that there’s still more room to tap into:
During the third quarter of 2019, Antero returned $17 million of cash to shareholders by repurchasing 5.1 million shares. The Company has reduced shares outstanding by 5% since the commencement of the share repurchase program in the fourth quarter of 2018. Antero’s remaining share repurchase authorization is $454 million.
Antero 8-K Posted 10-30-2019 – Click To View Filings
Penny Stocks To Buy [or sell] #3: Clearside Biomedical Inc. (CLSD)
To wrap things up, we have a company from the biotechnology sector. Clearside Biomedical Inc. (CLSD Stock Report) develops treatments to restore and preserve the vision of people with serious eye diseases. As of now, the company has 4 ongoing clinical trials with its treatment Uveitis in its phase 3 trial. If this penny stock seems familiar, that’s because it is.
Since early September, we’ve been reporting on this penny stock quite frequently. In fact, since then, our readers have seen CLSD stock rally, first hand. This quarter alone, shares are up 110%. On Monday, the penny stock posted new November highs.
The company’s stock has had a lot of momentum behind it throughout October. It rose by as much as 100% before the first trading session in November. The company recently announced that REGENXBIO Inc. exercised its option to use the SCS Microinjector in AAV Gene Therapy Delivery. The biotech penny stock is also expected to report its Q3 financials on November 6th this week.
