active penny stocks to buy

These 4 Penny Stocks Are Rallying Premarket; Can It Continue Throughout The Day?

Penny stock trading is often seen as a way of getting rich quick. While penny stocks can actually bring large amounts of profits relatively quickly, it’s not as simple as it sounds. Penny stocks have a lot of volatility that can result in heavy losses if you don’t trade with stop losses. Furthermore, if you aren’t doing proper research you’re more likely to get a lot more losses than profits.

I know it can be difficult to get started with research just because of the large number of penny stocks on the market. Ideally, you want to look for penny stocks with strong momentum, volume, and recent news.

All 3 things help make an investment more likely to return profits. Here are a few penny stocks that have had very active premarket sessions but can that momentum translate into a full day’s run?

Most Active Penny Stocks: Plug Power Inc. (PLUG)

penny stocks to buy sell Plug Power Inc. (PLUG)

First on the list of penny stocks is a familiar face in the energy space. Plug Power Inc. (PLUG Stock Report) is responsible for creating fuel cells and has been a penny stock to watch for a few months now. This company is providing power through cost-effective hydrogen and fuel cell power solutions. This allows businesses seeking effective energy sources to get increased productivity, lower operating costs, and a reduced carbon footprint.

As we are coming close to the end of the year, you can see how well PLUG stock has performed. The technology penny stock increased by approximately 202% throughout 2019. Most recently, however, the amount of trading volume around the stock over the last 6 trading sessions has been very high. It’s one of the leading factors helping it to a 41% gain. With all of this positive momentum, the company could be on some investors’ watchlists.

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After hitting fresh 52-week highs this week, shares have consolidated during early trading after the market open on Tuesday. In fact, PLUG has given back all of yesterday’s gain and has approached lows from last Friday. As we also discussed in previous articles, 52-week levels are something to keep in mind. In many cases, 52-week lows can lead to a rebound in penny stocks. 52-week highs can sometimes see penny stocks fall. Can PLUG stock recover after the morning pull-back or are shares set to slide lower?

Most Active Penny Stocks: SAExploration Holdings Inc. (SAEX)

penny stocks to watch SAExploration Holdings Inc. (SAEX)

Another one of the most active penny stocks today was SAExploration Holdings Inc. (SAEX Stock Report). The company is a geophysical services company that offers 2D, 3D, and 4D seismic data acquisition services. SAExploration Holdings’ services include surveying, program design, logistical support, environmental assessment, processing, and more.

Recently, the company announced its new projects in Alaska, Canada, and the Middle East that will cost $130 million. In addition, the company entered an agreement with Geospace Technologies Corporation to purchase 30,000 new GCL recording channels. Since this penny stock news was released, SAExplotation’s stock price gapped up during premarket trading hours by over 175%. The stock has risen from $1.52 to $4.18 within just a matter of a day.

However, it should be noted that after this gap up, shares of the penny stock sold off aggressively at the opening bell. Premarket trading showed the stock trading above $4.50. After the bell rang on Tuesday, SAEX stock dropped as low as $2.84. With this kind of volatility, are there opportunities to make money with this penny stock or should it be avoided?

Most Active Penny Stocks: Can-Fite BioPharma Ltd. (CANF)

penny stocks to watch Can-Fite BioPharma Ltd. (CANF)

Representing the biotechnology sector in this article is Can-Fite BioPharma Ltd. (CANF Stock Report). Can-Fite BioPharma is a biopharmaceutical company developing treatments for autoimmune-inflammatory and cancer diseases. At the moment, the company has 5 treatment plans in its pipeline undergoing clinical trials. The company’s lead product candidate, CF101, aims to treat Rheumatoid Arthritis and Psoriasis.

The biotechnology penny stock is up by 10% during November 19th’s premarket hours thanks to a recent press release. The company announced that is has had its patents granted in Canada, South Korea, and Israel. Can-Fite is still waiting for approval in the US, Australia, China, Hong Kong, and Japan. The patent is for its drug candidate CF602 which is used by people for the treatment of sexual dysfunction.

Similar to the above stocks, shares of CANF stock have consolidated a bit after the market open but not as dramatically. Given today’s news, will the stock finish the day in the green or has it set course to trade lower by the closing bell?

Most Active Penny Stocks: Advaxis Inc. (ADXS)

penny stocks to buy Advaxis Inc. (ADXS)

Wrapping things up is another biotechnology company, Advaxis Inc. (ADXS Stock Report). Advaxis is a biotech company creating immunotherapies that use the body’s immune system to fight different cancers. Through the use of the company’s Lm Technology, it has developed 5 immunotherapy treatments so far.

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

While the company has not had any news as of late, its stock price has been quite impressive. Over the last 4 trading sessions, this penny stock has been thriving. It has increased from $0.33 to $0.505, a 53% gain. On November 18th’s trading session, it increased by 26% on 4 times its average trading volume.

Yet again, within the first 30 minutes of trading on Tuesday, shares of ADXS stock slid lower. Noting that there haven’t been any company updates, what could have triggered this drop and can the penny stock recover before the close? Advaxis has been on a bull run ever since hitting 52-week lows of $0.2051 in late September.

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