Penny Stocks Making Fresh Highs But Will They Leave Investors In The Dust?
Investing in penny stocks can often prove to be one of the most rewarding especially when finding the best penny stocks to buy. Millions of people have made fortunes by investing in these cheap stocks. While it is true that you can make substantial returns through penny stocks, it is also necessary to note that you need to put in a lot of research to discover the right penny stocks to buy.
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It’s just as important to find winning trades as it is to know why and how to duplicate that same strategy time and time again. On that note, here is a look at three penny stocks that are worth watching at this point.
Penny Stocks To Buy [or avoid] #1 NewLink Genetics
The first penny stock to take under consideration is that of NewLink Genetics Corp (NLNK Stock Report). It made significant gains on Friday and managed to hit its highest level in 52 weeks. Last Monday the company announced that it had rejected the acquisition offer made by Evercel Inc back in early November. Obviously, the news fired up the stock considerably.
The company revealed that the offer is not in the best interests of NewLink. So, the offer was summarily rejected. NLNK stock soared by as much as 40% on Friday and hit its 52-week high of $2.37 a share. It goes without saying that this is a stock that could be in focus this week as well. Though price consolidated on Monday, the stock remains much higher than it was earlier in December and continues to trade above $2 a share.
Penny Stocks To Buy [or avoid] #2 Nordic American Tanker
The other penny stock that has been in the middle of a highly impressive run so far this month is Nordic American Tanker Ltd (NAT Stock Report). The company announced its third-quarter financial results towards the end of November. The loss per share stood at $0.10 a share, which was higher than analysts’ estimates of $.06 a share. But it reflected an improvement from the year-ago period.
In Q3 2018, Nordic American Tanker had recorded a loss of $.15 per share. NAT stock rallied for much of December and has recorded gains to the tune of 34.50% so far. Recently, it hit its 52-week high of $4.96 a share. The stock continued even higher on Monday to briefly leave penny stock territory with highs of $5.08. This is 137% higher than where the stock began the year.
Penny Stocks To Buy [or avoid] #3 Tsakos Energy Navigation
Last but not least; Tsakos Energy Navigation Limited (TNP Stock Report) has emerged as another penny stock which went on a rally in December. On Monday, TNP stock hit a new high of $4.27. This has continued a rally that’s lasted since early August.
Furthermore, last month, the company announced its quarterly results. It recorded a loss per share of $0.22, which was higher than analysts’ estimates of $0.13. However, it was lower than the losses posted in the year-ago period, when Tsakos had made losses of $0.28 a share. Since the summer, TNP stock has jumped as much as 39.5%.