These Penny Stocks Have Taken Off This Quarter; Will They Head Higher?
Investing in penny stocks has proven to be one of the best ways of making a fortune in the stock market and over the years plenty of investors have managed to do exactly that. However, identifying such penny stocks is not as easy as it might look. The investor needs to do his research thoroughly in order to identify stocks that could eventually generate handsome returns.
One needs to watch the market closely and note the latest moves among penny stocks as well. On that note, here is a look at three penny stocks that have generated big gains recently.
Penny Stocks To Buy [or Sell] #1: Sierra Oncology
The first on this list of penny stocks to watch is Sierra Oncology Inc (SRRA Stock Report). The company has made significant gains over the past two weeks. The stock has gained more than 100% since late November and on Saturday, the company made a major announcement with regards to one of its treatments.
This weekend, the company presented the benefits of using its momelotinib to treat myleofibrosis at the 61st American Society of Hematology Annual Meeting. We discussed several penny stocks on Robinhood to watch that also presented at the ASH meeting. It is a significant development for Sierra considering the fact that the event is a highly influential one in the industry.
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During premarket trading on Monday, SRRA stock lifted to highs of $0.84. However, at the opening bell, the penny stock was trading closer to $0.50. Given the fact that Sierra has reported favorable results at this meeting, it’s still to be seen what happens this week. Was this a “buy the rumor, sell the news” scenario or does Sierra have more room to run?
Penny Stocks To Buy [or Sell] #2: Advaxis
The other penny stock that has generated handsome gains in recent weeks is Advaxis, Inc. (ADXS Stock Report ). During the 4th quarter so far, ADXS stock has gained as much as 235.7% and is showing impressive momentum on Monday. Last week the company announced that it has submitted an application with the FDA for an Investigational New Drug, ADXS504. It is a major development for the company as it gears up for the Phase 1 clinical study of the said product.
“Results from our ADXS-NEO program provided important proof-of-concept data demonstrating the generation of CD8+ T cells against hotspot mutations. Based on these encouraging results…we are focused on expanding the HOT program to additional cancer-specific trials through various, capital-efficient avenues. In addition, we look forward to reporting immune data from the monotherapy arm of our ongoing Phase 1/2 HOT clinical trial in non-small cell lung cancer (NSCLC) in early 2020.”Kenneth A. Berlin , President and Chief Executive Officer of Advaxis
The company presents at the LD Micro Main Event Investor Conference on December 10. Kenneth Berlin, the Advaxis President & CEO will present at the event during the morning session (Pacific time). Shares of ADXS stock are off to a running start this week already, already reaching highs of $0.94.
Penny Stocks To Buy [or Sell] #3: Livexlive Media
Finally, Livexlive Media (LIVX Stock Report ) is another penny stock that has recorded big gains in recent weeks. It has become a top penny stock to watch in the quarter especially since mid-November. LIVX stock gained over 100% over the past three weeks and further gapped up on Monday reaching early morning highs of $2.74.
The company announced that it completed an agreement with Reach TV where its content will be broadcast in as many as 750 airport venues. In addition, it also broadcasts into 90 airport terminal locations in the United States. That opens a market size of 100 million customers for the media company.
“ReachTV is a valuable partner in our mission to deliver the live music experience to as many people as possible,” said Robert Ellin, CEO, and Chairman of LiveXLive. “Brands are increasingly buying OOH (Out of Home) and this relationship will create significant assets for our advertising partnerships going forward.”