Everyone Wants To Know If You Can Make Money With Penny Stocks
Investing in penny stocks can often be one of the most rewarding activities if you find winning trades. Over the years, plenty of investors have managed to make fortunes through sound investments in cheap stocks. Critics will argue that you only make money with penny stocks if you’re lucky. But the cold truth is that there are ways to consistently make money with any stock; not just penny stocks. It starts with education and learning how to trade, read the market, and manage risk.
However, it should also be noted that there are hundreds of penny stocks in the market. Can it become overwhelming? I would say yes. If you can’t focus your attention on a sound penny stocks watch list, you can quickly become distracted by penny stocks that might trick you.
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What I mean by this is that it’s easy to get sidetracked when some stocks breakout so quickly and seemingly out of nowhere. However, it’s better to not trade at all than to get FOMO and end up buying at the top, only to lose money in the end. As an investor, you need to conduct research thoroughly in order to identify potentially winning stocks.
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One way of going about it is by following the latest events in the market. This includes watching for things like breaking penny stock news and corporate filings. Before we get into this list of penny stocks, take time to familiarize yourself with our stock profile pages on PennyStocks.com. See that box on the top right of your screen that says “Search Ticker?”
Enter any stock symbol in there and access, for free, vital information that comes through in real-time. That includes news, filings, and corporate information. It also includes other updates like analyst ratings, commentary and more. All this being said, here is a look at five penny stocks that could be on the radar heading into the rest of this week.
Penny Stocks To Watch #1: Precipio Inc. (PRPO)
The first on this penny stocks watch list, Precipio Inc. (PRPO Stock Report), had a monster showing on Tuesday. Shares opened the day at $1.82 then mid-morning penny stock news dropped. Typically you’ll see companies release updates before the open. In this case, however, the company decided to update the public at 10:30AM. Where one might think this could go unnoticed, the market reacted very favorably.
Precipio reported its first commercial order for IV-Cell from a company named Northwell Health. Though full details weren’t released, the company said it expected to generate “considerable six-figure revenues.” During aftermarket trading, PRPO stock traded actively and may be worth noting in December.
Penny Stocks To Watch #2: Tantech Holdings (TANH)
One of the most active penny stocks to watch this month, Tantech Holdings (TANH Stock Report) may have finally hit “paydirt” on Tuesday afternoon. Following a beatdown after hitting highs of over $2.50 earlier this month, Tantech released aftermarket news that triggered a big move in the stock after-hours.
The company announced its unaudited interim financial results for six months ended June 30, 2019. The company’s first-half sales jumped 40% year-on-year. However, something to note is that its net income from continuing operations slipped to $0.02 per share. This was compared to $0.07 per share GAAP profit in the same period, last year. This penny stock may be worth noting following the price jump from its close of $1.81 to aftermarket highs of $1.94.
Penny Stocks To Watch #3: Covia Holdings (CVIA)
Similar to Tantech, Covia Holdings (CVIA Stock Report) also came out with aftermarket news on Tuesday. Just after the bell, the company reported its own financial update. Unlike TANH, however, this was a different kind of report. Covia announced that it had repurchased $63 million of outstanding debt at a “substantial discount to par.” On top of this, even after the repurchase, the company still said it had over $343 million in cash.
“By taking advantage of attractive trading prices for our term loan, we have executed another significant step in our strategy to strengthen our balance sheet and deliver stakeholder value,” said Richard Navarre, Chairman, President, and Chief Executive Officer.
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The company also expected to see a pre-tax gain of $13.4 million in its Q4, 2019 results as another outcome of this. It didn’t appear that CVIA stock actually was able to trade after-hours. So we’ll see what happens on Wednesday. Regardless, toward the end of the day, the stock saw a meaningful spike out of its sideways trend that it had been in for most of the day. The penny stock opened at $1.79 and closed at $1.89.
Penny Stocks To Watch #4: Inpixon (INPX)
Inpixon (INPX Stock Report) had its biggest share volume day ever on Tuesday. The interesting part is that most of that volume came in after 2PM EDT. By the time the dust settled, shares of INPX stock moved from an open of $0.0393 to $0.0769 by the close on more than 76 million shares traded.
Earlier this week the company had announced a follow-on order from a customer in the US Federal Government. Inpixon will deliver additional GPS products after its initial pilot program. Since that news was from a previous day, you may be wondering why this penny stock ended up breaking out much later.
Therein lies the speculative nature of this move. At the current time, it would appear that there may be excitement surrounding which “US Federal Government customer” the deal was done with. In any case, shares were very active after-hours and may be worth noting later this week.
