Are Any Of These Penny Stocks On Your New Year’s Eve Radar?
Over the course of the year so far, plenty of penny stocks have managed to generate enormous returns for its investors. Even as the year comes to an end, there are still cheap stocks that are worth watching.
Here’s the thing, however; as an investor, you need to be responsible. There’s no place for believing some social media account on Twitter or Facebook. You can get some good (and bad) ideas from social chatter. But at the end of the day, you and only you are responsible for your actions to trade penny stocks. Is it important to watch the market closely?
The answer is yes, and you should also keep abreast of the latest movements from among penny stocks, in general. Lack of research can often prove to be highly damaging. You may get lucky here and there but in the long run, bad practices when it comes to research can hurt in a major way. Here is a look at three penny stocks that could be tracked by investors in light of recent events.
Penny Stocks To Buy Or Sell Before The Next Year #1 Soleno Therapeutics
The first penny stock to watch is that of Soleno Therapeutics Inc (SLNO Stock Report). It had a highly impressive run in December so far. SLNO stock started climbing at the start of December and since then it has managed to gain as much as 152% to emerge as one of the biggest penny stock gainers this month.
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There was more positive news for the stock after Oppenheimer rated the stock as outperform and set the target price at $10 on December 23. That proved to be a major trigger for another strong rally in the Soleno stock. On Tuesday, SLNO stock climbed by as much as 28.50% as investors piled on to the stock. That run extended Thursday as shares climbed to highs of $4.11.
Penny Stocks To Buy Or Sell Before The Next Year #2 Ocular Therapeutix
The other penny stock that may be worth watching is Ocular Therapeutix Inc (OCUL Stock Report). It has been in the midst of a remarkable rally since the middle of November. Last month, the company released its financial results for the third quarter and it managed to marginally beat analysts’ estimates with regards to its losses per share.
Ocular made losses of $.45 per share, which beat analysts’ estimates of $.46 per share. Since then OCUL stock has rallied considerably and gained as much as 85% during the period. It’s also worth noting that the company presented at the Piper Jaffray 31st Annual Healthcare Conference earlier this month. Though there weren’t any formal updates after the conference, shares have continued to climb throughout the month.
Penny Stocks To Buy Or Sell Before The Next Year #3 Clearside Biomedical
Finally, Clearside Biomedical Inc (CLSD Stock Report) has been one of the biggest gainers among penny stocks this year. In fact, it was one of the top penny stocks on Robinhood that we’ve discussed ever since early September. Shares of CLSD stock have soared by more than 450% during that time as the company executed on its development plans.
Adding to this, last week, Clearside announced that the United States Food and Drug Administration has requested more data about the company’s SCS Microinjector™ delivery system. The news proved to be another major positive for the stock and it rallied again to hit highs of $3.19 on Tuesday then continue to new 52-week highs of $3.95 the next trading day.
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“In recent meeting correspondence, the FDA agreed that it would be acceptable for the company to submit such data in lieu of the requested clinical use assessment,” the company said. “As a result, the company no longer plans to conduct an additional clinical use assessment with the SCS Microinjector.”