These 2 PennyStocks Have Rallied This Week But Are They Still A ‘Buy’?
One of the most well-known facets of penny stocks is that they can see big returns in no time. So, it’s no surprise that investors are on the lookout for the next big penny stock to trade. This can make for exciting times in the market.
However, if you want to be successful in such investments you’ll have to keep a close eye on the market. It’s also very important to conduct research well. On that note, here is a look at two penny stocks that won big in the markets this week.
Penny Stocks To Trade: Nio (NIO)
One of the biggest penny stock winners this week was Chinese electric vehicle manufacturer Nio Inc. (NIO Stock Report). It is now a well-known fact that the company has been in trouble for much of the year. Its stock price has been in free-fall for a while now. However, the publication of strong delivery numbers for October and the announcement of a partnership have fired up the stock again.
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On Monday, the stock rose by 12% following the release of delivery figures for October. Later on, the company stated that it is going to collaborate with Intel’s Mobileeye and help in the manufacture of self-driving systems.
The system will help in NIO’s own production and also the vehicles that are going to b produced by Mobileeye. On Tuesday, NIO soared by as much as 37%. It was also one of the companies we highlighted as 7 Penny Stocks Making A Comeback This Month. Can this momentum rejuvenate the company and make it a penny stock to trade once again?
Penny Stocks To Trade: Agile Therapeutics (AGRX)
The other penny stock that has made a major move recently is that of Agile Therapeutics Inc (AGRX Stock Report). The stock has been surging in every trading session ever since it announced on October 30 that its women’s contraceptive product Twirla has been viewed favorably by a committee of the FDA.
The committee in question voted n favor 14 to 1 of the approval of the product in question. Since then the stock has been on an incredible bull run and has gained as much as 170% this week. This came after the penny stock reached premarket highs of $3.27 on Wednesday morning.
Aside from that, this has been one of the top penny stocks we’ve discussed over the last few weeks. The company was first reported on in late October just as it hit new 52-week lows. Since then, it has rallied more than 834% from those $0.35 lows. AGRX stock has shown no signs of slowing down but can this rally continue?
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