3 Penny Stocks to Watch in November
When it comes to penny stocks, the single biggest reason why these stocks are attractive is the fact that an investor stands to make handsome profits from a relatively small investment. While that is true, it’s also important to keep in mind that an investor needs to be quite careful with these cheap stocks too. Penny stocks tend to be extremely volatile. So, the investment can blow up fairly quickly if the wrong stock is picked. In such a situation, research is paramount.
How do you research penny stocks? Well, you need to find information first. You can search the top-financial-sites like this. You can go to the company’s profile page to get the inside track on penny stocks to watch. Sift through recent news and even older announcements, first. This gives you a general idea of where the company has been and where it might be heading.
How To Research Penny Stocks
Look for important or upcoming dates. This can relate to earnings or industry presentations. We’ll see the presentations with many biotech penny stocks and we’ve actually seen several low-priced stocks jump leading up to big conferences.
Next, we’ll take a look at recent filings. These can be anything from corporate financials to insider trading forms. See who’s buying or selling these penny stocks from the management side of the company. If you look at corporate earnings, are they above or below expectations?
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Also, what is the company guiding or expecting to produce in upcoming quarters? These are just a few ways to get started on your deep dive before putting together a list of penny stocks to watch. On that note, here is a look at three penny stocks that have managed to trend higher. But will they be penny stocks to buy or sell before next week?
Penny Stocks to Buy (or sell) #1: Venator Materials (VNTR)
The first on this list of penny stocks is the Venator Materials PLC (VNTR Stock Report) stock. Shares soared significantly on Wednesday following the announcement of the company’s third-quarter earnings. Venator had an impressive quarter and it beat analysts’ estimates in both earnings as well as revenues.
Analysts had estimated earnings of $.03 per share, but the company actually generated earnings of $.08 per share. On the other hand, the revenues for the period stood at $526 million. This beat analysts’ estimates by as much as 2.17%. Naturally, VNTR stock soared later on and the Ventator stock recorded gains of as much as 24.5% on Wednesday.
“We remain on track with our strategic initiatives. We have accelerated savings from our Business Improvement Program and generated $15 million of adjusted EBITDA benefit year-to-date.”Simon Turner, President and CEO, Venator
Penny Stocks to Buy (or sell) #2: The Supreme Cannabis (SPRWF) (FIRE)
The other penny stock that recorded significant gains this week was The Supreme Cannabis Company (FIRE) (SPRWF Stock Report). The pot penny stock made a major announcement on Tuesday and since then its stock has soared by as much as 30%. Supreme actually announced a key appointment that seems to have caught the attention of the market and has triggered a positive response.
The ex-vice president of sales at the cannabis major Aphria, Joel Toguri is the new vice president of commercial. It goes without saying that it is a major coup for Supreme and the stock price reacted accordingly.
“From the outset, Mr. Toguri will lead the launch of Blissco’s high-quality CBD oils to the Canadian wellness market and continue to build the 7ACRES brand and distribution to cement it as the leading premium flower brand nationally. The company’s talented sales team will benefit from Joel’s proven leadership abilities and strong industry network across Canada.”Navdeep Dhaliwal, CEO, Supreme Cannabis
Penny Stocks to Buy (or sell) #3: Agenus (AGEN)
Last but not least, the Agenus Inc (AGEN Stock Report) stock has been in the middle of a sustained rally for around two weeks. It has emerged as one of the most interesting penny stocks in the market. In fact, since the end of October, AGEN stock climbed by as much as 58% following highs this week of $3.74. On Monday, the company announced its earnings for the third quarter.
It managed to beat estimates with regards to its losses per share and grew its revenues year on year. The penny stock has soared by as much as 29% over the past few days. As far as potential upcoming events to look for, check out what company CEO Garo H. Armen, Ph.D. said in his earnings statement:
“We expect clinical readouts from six separate antibody programs in 2020 as our robust pace continues. We expect to commence combo trials of our NexGen CTLA-4 with our own PD-1 this month. 2020 is expected to be an important year of data generation, substantial milestone payments and prudent collaborations for Agenus . We look forward to discussing these developments in more detail during our call and at our R&D day on November 15 (th) .”
This upcoming call may be something to make a note of.