Will These Penny Stocks Make New Q4 Highs?
It goes without saying that investing in penny stocks can often prove to be one of the best ways of making quick money. While it is true that over the years plenty of investors have managed to create enormous wealth through penny stocks, it should be noted that these stocks are volatile in nature. So, it is necessary to conduct thorough research and watch the market closely if one is to find any success.
But now, penny stocks may even more prevalent. One of the bigger reasons can be found in the broader markets. When the major markets across the world see more volatility, it usually pushes attention to other equities. Since penny stocks are some of the most volatile, this may give way to more momentum for the niche.
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On top of this, you’ve also got to keep in mind that there are external catalysts that can help push things along too. When it comes to Penny Stocks On Robinhood To Watch This Week, for example, there are a few reports people are looking for. On the other hand, some investors are trying to find the best penny stocks with standalone news too. Here is a look at three penny stocks which should be on the watch lists of all investors.
Top Penny Stocks to Watch #1: U.S. Auto Parts Network (PRTS)
One of the penny stocks that have been on a fabulous run this year so far is U.S. Auto Parts Network, Inc. (PRTS Stock Report). The penny stock has experienced a strong rally over the course of the past 6 months and has climbed by as much as 154% in the period. PRTS stock has maintained the momentum and after its earnings report on November 2, it climbed further to hit a new high of $2.34.
In its third-quarter report, the company failed to beat expectations for its loss per share. But its revenues surpassed expectations. In the aforementioned quarter, U.S. Auto Parts Network generated revenues of $69.27 million and beat analysts’ estimates by 2.81%.
“The momentum in our business is evident. Key metrics are trending in the right direction, our cash flow cycle is healthy and we remain debt-free. There is still plenty of work ahead to further improve our inventory optimization, cost structure and core websites. But everywhere we look, we see opportunity, and our team remains committed to delivering positive adjusted EBITDA this year and carrying this strong momentum into 2020.”said Lev Peker, CEO of U.S. Auto Parts
Top Penny Stocks to Watch #2: TrueCar (TRUE)
The other penny stock that experienced a significant jump recently is TrueCar Inc (TRUE Stock Report). Last week the company published its financial results for the third quarter. This proved to be a trigger for the rally. Although the losses deepened from $6.3 million in the prior-year period to $7.7 million, TRUE stock recorded gains after the company raised its projections for the full year.
“I can truly sense a change in the momentum here within the walls of TrueCar. We are laser-focused on our near-term business goals, and energized by our upcoming re-brand…This will prepare us to meet the needs and expectations of today’s car buyers.”Mike Darrow, TrueCar’s Interim CEO & President
It should be noted that back in August, the company had actually lowered its projections. The stock rose by as much as 80% since then. Even with this big move back up from 52-week lows, can TRUE stock sustain these latest gains?
Top Penny Stocks to Watch #3: Eros International (EROS)
The other penny stock that has made significant gains is Eros International plc (EROS Stock Report). This was ever since it made a major improvement to its streaming. Back on October 21, it emerged that the Indian entertainment company had introduced Dolby Atmos and Dolby Vision to its OTT platform.
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It was a major upgrade. Furthermore, since EROS stock hit 52-week lows of $1.14 in August, shares have rallied back by as much as 244%. In addition to this, the company made more headlines this week. Eros announced the planned theatrical release of a new move in Japan called Andhadhun.
Kumar Ahuja, Chief Operating Officer, Eros International Media Ltd, said in the release, “Eros Now’s legacy of entertaining the masses with the best of Bollywood films is a well-established territory. We are keen on sharing this exciting & highly captivating narrative with the audience of Japan and hoping they will enjoy and embrace the film it just as much as the viewers did from the other parts of the world.”