These Penny Stocks Are Up Big This Quarter
One of the most important things to keep in mind with regards to penny stocks is that there’s potential to generate enormous returns from a very small investment. Therefore, investors are almost always on the lookout for penny stocks that have the potential to move big. That being said, you still need to put in a lot of work. Research is key and can help you actually plan out your trades ahead of time.
For instance, if there’s a certain biotech penny stock with upcoming data results, it might be a company to add to your list of penny stocks to watch. The basis for that train of thought comes from the potential breakout that could come if the results are favorable.
Other examples with other industries like cannabis could see certain marijuana penny stocks jump big if there’s certain legislative events coming up. A good sample of this was recently when the MORE Act was up for a vote. A favorable outcome there saw a number of marijuana penny stocks rally.
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These are just a few types of things to understand when doing research. Once you make an initial list, you can boil that down even further to create a sound penny stocks watch list. Here is a look at three penny stocks that have made significant moves recently and could find themselves on a few of these watch lists heading into the end of the year.
Money Making Penny Stocks #1 Proteostasis Therapeutics
The first penny stock to consider in this regard is that of Proteostasis Therapeutics Inc (PTI Stock Report). PTI stock has been on a roll for the past month and has gained as much as 352% since November 6. This came after it made a major announcement.
Earlier last month Proteostasis announced that it had completed the enrollment of patients for its global Phase 2 study. This was of its cystic fibrosis transmembrane conductance regulator. Simply put, it resulted in an impressive rally.
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On December 2, Proteostasis Therapeutics announced receipt of a letter from NASDAQ. It was indicated that the company has regained compliance with regard to its minimum bid price. The minimum bid price has to be $1 on NASDAQ.
The company also presented at the Piper Jaffray Healthcare Conference this week. These latest developments have led to a big move in the stock this month. Will PTI stock continue to outperform or is this money-making penny stock’s run over?
Money Making Penny Stocks #2 BioNano Genomics
The other penny stock that has recorded significant gains recently is BioNano Genomics Inc (BNGO Stock Report). BNGO stock soared after the company’s genome imaging platform found mention in a leading publication. The company announced that the leukemia studies conducted using its patented technology were published in the influential journal, Blood.
It comes at a critical time considering the fact that the Annual Meeting of the American Society of Hematology is going to commence on Saturday. The stock climbed by 19% on the back of the news.
Money Making Penny Stocks #3 Milestone Scientific
Milestone Scientific Inc. (MLSS Stock Report) was another penny stock that has made impressive gains recently. The company is one of the world’s biggest suppliers of didactic material meant for medical education. Back in late September we first saw this penny stock and it has been one of the best penny stocks to watch every since.
Why did MLSS stock jump recently? The company signed a major contract in November. Milestone Scientific announced that it had reached a global agreement for the distribution of its product CompuFlo® Epidural Trainer.
“The expanded agreement allows 3B Scientific to capitalize on this momentum and gives more anesthesia instructors the ultimate solution to accelerate the epidural procedure’s learning curve and trainee success.”Miles Sprott, Director of Global Sales, 3B Scientific
That proved to be a major trigger for the stock which has gained as much as 357% since the beginning of 2019. One other thing to keep in mind with this penny stocks is that Milestone presents at the upcoming LD Micro Main Event on December 10th.