penny stocks to watch this week

The market is vast with many different options for investors to put money into. You can trade anything from penny stocks to large-cap stocks. When it comes to penny stocks, these are considered to be any equity that trades below $5. The cheap stocks can bring investors large amounts of profits in a very short amount of time if traded properly.

Trading penny stocks requires a lot of research but sometimes finding the right companies to trade can be difficult. When looking for penny stocks to buy, volume, strong price action, and recent news are important. As we enter a new week, here are a few penny stocks to watch:

Penny Stocks To Watch: NovaBay Pharmaceuticals Inc. (NBY)

penny stocks to watch NovaBay Pharmaceuticals Inc. (NBY)

First on this list of penny stocks is a company from the biotechnology sector that goes by the name NovaBay Pharmaceuticals Inc. (NBY Stock Report). NovaBay Pharmaceuticals creates new treatments for the eye care market.

The company’s primary product candidate is known as Avenova which aims to manage the hygiene of the eyelids and lashes. In addition to this treatment, the company has 2 other products known as CelleRx and NeutroPhase.

NBY stock price is flying early during premarket hours thanks to some recent news. The company announced the launching of its daily vitamin and mineral supplement called NovaSight which supports ocular health. This has prompted the biotech penny stock to rise nearly 37% going from $0.511 all the way to $0.6997.

Penny Stocks To Watch: Caladrius Biosciences Inc. (CLBS)

penny stocks to watch Caladrius Biosciences Inc. (CLBS)

Like NovaBay Pharmaceuticals, Caladrius Biosciences Inc. (CLBS Stock Report) is another biopharmaceutical company. However, Caladrius Biosciences primarily focuses on treatments for cardiovascular and autoimmune diseases. These can help restore the health of people with chronic illnesses. The company currently has 4 treatments in its clinical pipeline undergoing clinical trials.

The company released some penny stock news that is resulting in the penny stock gapping up early. The 14% gain comes after the company announced the positive results from its ESCaPE-CMD Trial for CLBS16.

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CLBS16 improved heart function and symptoms by improving a patient’s coronary flow reserve. It has promise to be a treatment for Coronary Microvascular Dysfunction

Penny Stocks To Watch: Eros International Plc (EROS)

penny stocks to watch Eros International Plc (EROS)

This final company on this list happens to be a familiar face, Eros International Plc (EROS Stock Report). Eros International is a company in the entertainment space that produces, acquires, and distributes Indian language films. The company has the digital rights to over 12,000 films which makes it one of the largest Indian movie platforms in the world.

The last 2 trading sessions are looking to be quite special for Eros’ stock. On November 15th, the penny stock rose 11.52% and is looking to capitalize that momentum on the 18th’s trading session.

[Read More] Are Penny Stocks Worth It? These 3 Hit New Highs This Week

So far, it is up 24.4% during premarket trading. This second move comes courtesy of the company announcing a collaboration with YouTube Music in India. The collaboration created a special Eros Now subscription package that costs 99 Indian Rupees.

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