Penny stocks are perhaps one of the most popular classes of stocks among investors. The simple reason for that is the possibility of making enormous returns from a small investment. However, it should be noted that penny stocks are inherently volatile. So, investors need to be quite careful with their choices.
As everyone knows, the best way of going about it is by keeping a close eye on the market. I don’t want to sound like a broken record here but research, research, research. It’s very important to do more than just read a few headlines or “today’s” penny stock news.
As we’ve seen in plenty of articles, some PR’s that came out months ago gave important dates to pay attention to now. Given that, here is a look at three penny stocks that have attained new highs recently after key developments.
Penny Stocks Making New Highs #3: DGSE Companies (DGSE)
One of the penny stocks that has been on a remarkable rally for much of the year so far is the DGSE Companies, Inc. (DGSE Stock Report). To date, DGSE stock has gained as much as 260% in 2019. It has emerged as one of the hottest penny stocks to watch in the market.
On Tuesday, it recorded further gains after the e-commerce and retailer posted highly impressive numbers in its third-quarter financial results. In the third quarter, the company generated revenues of $22.8 million and more importantly, recorded profits of $1,035,475. The profit is the highest that DGSE has managed to generate in a decade and the stock flew by 15%.
Penny Stocks Making New Highs #2: Kadmon Holdings (KDMN)
The other penny stock that made significant gains recently and reached a new high was Kadmon Holdings Inc (KDMN Stock Report). On Tuesday, the company made a significant announcement and that resulted in a rally in the stock.
Kadmon has developed a medicine meant for the treatment of chronic graft-versus-host disease. Yesterday it reported that the therapy has managed to meet the primary endpoint in a trial. It is a highly encouraging sign for the company and it was no wonder that the stock flew by as much 23.41% on the back of the development. Moreover, the stock made a new 52-week high of $3.74 in yesterday’s trading session.
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KDMN stock has been on fire since hitting 52-week lows of $1.63 just a few months ago. As of this week, the stock has recovered by more than 125%. Can that continue into the rest of November?
Penny Stocks Making New Highs #1: Plug Power (PLUG)
The other penny stock that hit its 52 weeks high on Tuesday was the Plug Power Inc (PLUG Stock Report) stock. On Tuesday, an analyst working for Roth Capital upgraded the status of the stock from hold to buy. The analyst also amended the price target from $3 to $6. He added that the company is now approaching an inflection point.
Due to that analyst report, the stock 4.42% on Tuesday and hit the 52 week high of $3.19 and in this regard, it should be noted that the Plug Power stock has a good time in 2019 so far. The stock has gained 130% so far this year. Furthermore, this month PLUG stock held a leading role in our Top 10 Penny Stocks On Robinhood To Watch For November 2019 article.
“Specifically, it was stated that Plug Power aims for $1 billion in revenue by 2024. Furthermore, the company is expecting to sell more than 25,000 unites annually by that same time.”PennyStocks.com, Top 10 Penny Stocks On Robinhood To Watch For November 2019