Penny Stocks To Watch As Holidays Are Right Around The Corner
Over the years thousands of investors have managed to make fortunes through intelligent investments in promising penny stocks. But it’s no surprise that these stocks remain highly popular among investors even with the higher levels of risk. Penny stocks generally trade below $5 a share. So it is possible to buy these stocks in bulk for a relatively small amount of money. If the stock moves up, then it is possible to generate substantial returns. An obvious statement but not such a simple strategy to take on.
To be skilled at finding the best penny stocks to buy, you need to watch the market closely in order to discover the right stocks. Pay attention to new trends. Also, study things like corporate filings and penny stock news. We have several penny stock basics articles for you if you’re new to this arena. However, if you do have your strategy down, here is a look at three penny stocks that have made big moves this week. But I’ll ask this: Can they go higher before 2020?
Penny Stocks Making Big Moves This Week #1 Seadrill
The offshore oil drilling company Seadrill Ltd (SDRL Stock Report) has had a tough time so far this year. But last month, the company announced some positive news. Since then SDRL stock has been on a roll. The penny stock managed to gain as much as 61% so far this month and has displayed excellent momentum.
The company announced that it is in discussion with its lenders in order to restructure its debt burden and that has created a lot of optimism around the stock. Seadrill had been in the middle of bankruptcy proceedings in 2018 and in the latest quarter, it revealed that its debts and liabilities stood at $7.5 billion.
[Read More] 3 Penny Stocks To Watch Before Christmas
Penny Stocks Making Big Moves This Week #2 Tarena International
The other penny stock that had an impressive rally on Thursday was Tarena International Inc (TEDU Stock Report). The rally began on Wednesday after the company made a major announcement with regards to its NASDAQ listing. On Wednesday, Tarena announced that the NASDAQ has given the company until April 24 next year to regain its reporting related compliance.
TEDU stock rallied by as much as 23% after the announcement was made. On Thursday, the stock extended these gains as investors continued to back the stock. What’s more is that since the start of December, shares have climbed 60% after Friday’s high of $1.44. Can this trend continue into the new year?
Penny Stocks Making Big Moves This Week #2 Nabors Industries
Last but not least; Nabors Industries Ltd. (NBR Stock Report) emerged as another significant gainer among penny stocks this week. The rally in the stock started after the company released news. Nabors had managed to amend its revolving credit facility that is going to expire in October 2023.
In addition to that, the company also announced that its $667 million revolving credit facility that is supposed to expire in July next year remains intact. At the end of the day, the company was able to reduce its aggregate lender commitments by 20%. NBR stock has rallied by as much as 52% this month.