These Penny Stocks Trade Below $1 Right Now
The big attraction to penny stocks lies in the fact that it is possible to buy these stocks in bulk. It’s also usually for a relatively small amount of money. What’s the point? To make money, of course. As many have already seen, these cheap stocks have tendencies to rise quickly. In many cases, these breakouts can result in moves of 100% or more; sometimes higher.
Penny stocks generally trade below $5 a share by definition. But there are penny stocks that trade even lower; many times below $1. If an investor can manage to find winning stocks from a larger list of penny stocks, then the gains could speak for themselves. Thanks to a healthy market for small-cap stocks and micro-cap stocks this quarter, there’s plenty of attention on penny stocks that can be bought for under $1.
Read More About Penny Stocks
- Are These Penny Stocks To Buy Or Sell Right Now? 1 Up 100% This Week
- 3 Penny Stocks To Watch Making New December Highs; 1 Up 74% This Quarter
- 5 Penny Stocks To Watch Before The End Of The Week
- Can You Make Money With Penny Stocks? 3 Up Big Right Now
Several have already realized big moves this month. Keep in mind that we’re only 3 trading days into December. Here is a look at three penny stocks that can be bought for under $1 and have made significant gains recently.
Penny Stocks To Buy For Under $1 #1:
Quorum Health
The first penny stock to watch is Quorum Health Corp Inc (QHC Stock Report). QHC stock jumped after it emerged that there is a possibility of the company going private. According to reports, the company received a letter from the private equity behemoth KKR.
The firm proposed taking the company private. KKR is ready to pay $1 per share to Quorum. This would also raise a significant amount of money for the company so that it can restructure its business effectively.
The penny stock’s news proved to be highly positive in the eyes of the market. The reaction was a positive one as well. Quorum Health Corp shares skyrocketed by as much as 65% on Tuesday. Though there was consolidation during the morning of December 4, the afternoon session saw the stock rebound back above $0.80. Will it remain one of the top penny stocks to watch this month?
Penny Stocks To Buy For Under $1 #2:
iBio
The other sub $1 penny stock that recorded impressive gains this month was iBio Inc (IBIO Stock Report). We discussed this company earlier this week citing recent developments that helped propel the biotech penny stock higher.
The company announced that it has now become a part of the Manufacturing USA program, which is a public-private initiative. The specific initiative includes iBio in the Advanced Regenerative Manufacturing Institute.
The stock gained by as much as 41% after the news was announced. The stock had recently been under a fair bit of pressure after its October announcement of a public offering of $5 million. Needless to say, ever since the start of December, shares of IBIO stock have rallied as much as 165% so far.
Penny Stocks To Buy For Under $1 #3:
Chesapeake Energy
Finally, Chesapeake Energy (CHK Stock Report) rounds out this list. The company’s stock has seen a tough 2019 and reached fresh 52-week lows at the end of November. Since then, CHK stock was steadily rising up until the start of this month. After attention began circling around energy stocks, Chesapeake began to rise a bit more.
As the week progressed, volume picked up and on Wednesday, things came to a bit of ahead. The company announced an offer to swap up to $1.5 billion new 11.5% Senior Secured Second Lien notes that come due in 2025. JPMorgan Chase Bank, Morgan Stanley Bank, Bank of America, and MUFG Bank arranged the deal.
[Read More] Is Sprint Corporation (S) At Risk Of Becoming A Penny Stock?
Furthermore, Chesapeake intends to use proceeds to finance a tender offer for unsecured notes issued by subsidiaries, Brazos Valley Longhom and Brazos Valley Longhorn Finance Corp. The goal’s to also retire Brazos Valley’s revolving credit facility. This news helped send shares of CHK stock even higher in December. Since the 1st, Chesapeake’s stock has rallied 25%.
