These Penny Stocks Returned Big Gains For Investors; Can They Keep Going?
Over the years, many have found that penny stocks often end up creating fortunes for stock market participants. This is sometimes by chance but for the every-day trader, it involves a very specific strategy developed over time. However, based on this, investors are always on the lookout for more winning penny stocks to buy.
However, you should be very thorough with research if you want to consistently discover penny stocks with money-making potential. Some of these trades can be highly volatile and require close attention. Other trades may be more long-term swing trades requiring less time at your desk.
One of the best ways of going about it is by watching the market closely and keeping tabs on the latest trends. For instance, the latest global economic uncertainty has made an argument in favor of finding the top gold and mining stocks to watch.
On the other hand, the biotech and energy sectors have also been a large focus for traders. Here is a look at three penny stocks which have done more than just run for a day or two. They’ve actually more than doubled since the start of the fourth quarter.
Penny Stocks To Buy [or Avoid] #1 FuelCell Energy
The first penny stock that could be considered in this regard is FuelCell Energy Inc (FCEL Stock Report). It has had a highly impressive run over the course of the past few weeks. The penny stock has managed to gain as much as 492% since November 5 and on Friday, FCEL stock rallied by another 30%. The latest rally resulted in the stock hitting its highest level since May.
On December 20, the clean energy solutions company provided an update on the progress and expected delivery schedule for its CMEEC Fuel Cell Micro-Grid Project on the U.S. Naval Submarine Base. In addition, on Friday FCEL stock took off even further after reporting the launch of commercial operation for a 2.8-megawatt fuel cell project at the city of Tulare, California’s wastewater treatment facility.
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This move expands the Company’s power generation portfolio even further. This flurry of penny stock news could have been a trigger for the latest jump. The stock had a rough year in 2019 but the last few months have been great. Can that continue?
Penny Stocks To Buy [or Avoid] #2 Oncolytics Biotech
Another penny stock to watch after substantial gains over the past month is that of Oncolytics Biotech, Inc. (ONCY Stock Report). The latest move for the stock came on December 10 after it emerged that the company had presented data from the Phase 1B trial.
This was for its treatment of multiple myeloma. The event in question was the 2019 American Society of Hematology Annual Meeting & Exhibition. ONCY stock climbed by 156% since then. Furthermore, as you’ll see on the chart, this biotech penny stock has seen an incredible 4th quarter as well.
Since October 1, shares have soared by as much as 387%. That came as the stock hit new 52-week highs this week ($2.92). Earlier on in the month, Oncolytics stock had also managed to regain compliance with NASDAQ and that was another positive as well.
Given that the company also presents new data at the 2020 Gastrointestinal Cancers Symposium at the end of January, will that become the next catalyst for this company?
Penny Stocks To Buy [or Avoid] #3 Pintec Technology
Pintec Technology (PT Stock Report) is more of a newcomer to the list of penny stocks to watch. But it has actually become a quiet performer among cheap stocks. Shares have traded relatively sideways since the start of the 4th quarter. Overall, 2019 wasn’t a great year either for the penny stock. However, this week that all changed. PT stock hit highs of $2.92 marking a move this quarter of over 100%.
Additionally, on Friday the company announced an agreement with China Unicom. Pintec will offer its digital lending capability, which will allow China Unicom’s payment platform, Unicompay to provide handset financing services to its subscribers.
” Pintec has accumulated rich experience in serving telecom operators. Before this, Pintec cooperated with China Telecom and China Mobile, providing them with widely proven digital installment loan solutions. We have gained deep understanding of telecoms, their customers, and the mobile phone market through years of field research and training in hundreds of cities across China .”Allen Dong, acting CEO of Pinter