Investing in penny stocks can often prove to be one of the best ways of making a big return within a short period of time. In addition, an investor may not need to invest a lot of capital either. That’s basically since these stocks generally trade below $5 by definition.
That being said, it should also be noted that there are plenty of penny stocks in the market and an investor needs to do his research thoroughly in order to pick the right ones. Here is a quick look at three penny stocks that are currently in focus.
They’ve all seen incredible momentum as of late but are they penny stocks to buy or will they get sold off before Friday? Remember, this is a short week as Thanksgiving has markets closed and Friday is a half-day with markets closing at 1 PM EST.
Penny Stocks To Buy [or Sell] #1: Stage Stores
One of the penny stocks that has been in acute focus over the last few trading sessions is Stage Stores Inc (SSI Stock Report). The stock soared after the company managed to generate record-breaking sales in its latest quarter. Stage Stores revealed that it managed to clock the highest third-quarter sales ever.
That resulted in a sustained rally in the stock. It’s home and gift products led the charge as the company emerged as one of the retail companies to watch out for. Over the course of the last two trading sessions, the Stage Stores stock has skyrocketed by 107% and is going to be one of the stocks in focus this week as well.
[Read The Lates On SSI] Penny Stocks To Buy Now Or Wait? 1 Hit 52-Week Highs This Month
But this isn’t just a two day run for our readers. SSI stock has remained on the list of penny stocks to watch for months. Ever since the summer, Stage Stores has maintained a strong bull trend. On August 23, shares were trading at $0.68 and this month they’ve already hit highs of $4.92 (623.5% for those keeping track). If you want to talk about a reason why penny stocks present big opportunities, SSI stock has remained a clear example. But can it sustain these levels or will shares slide before Black Friday?
Penny Stocks To Buy [or Sell] #2: Akebia Therapeutics
The other penny stock that has recorded significant gains in recent days is Akebia Therapeutics Inc (AKBA Stock Report). The stock climbed by as much as 22% on Friday. But it should be noted that it has been on a roll over the past two weeks. During that time, it has gained 43%. On November 12 the company announced its financial results for the third quarter.
The most important take away was that Akebia secured a term loan agreement worth $100 million from Pharmakon Advisors LP. The company will be able to get $80 million by the end of November. The stock soared by 22% on Friday. What’s also helped can be found in the company’s financials. Over the last few weeks, there’ve been multiple Form 4s filed.
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If you’re new to corporate disclosures, myself and others at PennyStocks.com make it a point to emphasize research as a key to making informed decisions. Many times companies won’t put out news but the stock may seemingly run out of nowhere.
For those in the know, they’ve become familiar with following corporate financial statements. Form 4’s are one of them and they show insider trades. CEO John Butler, Director Adrian Adams, CMO Steven Burke, and others collectively purchased over 147,000 shares stock. The price per share of purchase ranged between $3.41 and $3.58.
Penny Stocks To Buy [or Sell] #3: Evoke Pharma
The third penny stock that has been in focus is Evoke Pharma Inc (EVOK Stock Report). On November 13, the specialty pharmaceutical company announced that the NASDAQ’s Listing Qualifications Department had awarded Evoke a grace period of 180 days. This was granted in order to become compliant with the minimum bid price requirement of $1.
The development resulted in a rally in EVOK stock. It gained as much as 60% over the past two weeks. For the month of November, shares of EVOK have rallied by as much as 86.5%. After pulling back from November 19th highs of $1.67, can this penny stock rally into the week? Something that’s also important to note was the company’s Q3 financial results. Evoke reported a smaller net loss per share at $0.07 compared to $0.09 last year.
In a press release, David A. Gonyer, R.Ph., President, and CEO of Evoke Pharma, Inc. said, “We successfully completed manufacturing of commercial-scale batches of Gimoti, which allows us to collect Chemistry, Manufacturing and Controls data as well as undertaking the analysis of pump performance characteristics on the nasal spray devices that will be used to support the NDA and bring us one step closer to commercial readiness. In addition, we believe that we have sufficient capital to support our operations into the second quarter of 2020.”