These Penny Stocks Can Be Bought For Under $1 Right Now
One of the most important things to keep in mind with penny stocks is that these stocks generally trade below $5. Based on this, it allows investors to buy these shares in bulk. But, it should be noted that there are penny stocks that trade at even lower levels. Some of them even trade below $1 a share.
There are plenty of opportunities to generate handsome returns from investing in these stocks as well. Though the lower prices can mean bigger risk, you’ll see that for some it has meant bigger reward as well. Here is a look at three companies that could be put into a few penny stock watch lists this coming month.
Penny Stocks To Buy For Under $1 #1 Advaxis Inc. (ADXS)
The first stock on this list of penny stocks is Advaxis Inc. (ADXS Stock Report). It managed to record impressive gains this quarter. What initially started after the company updated overall survival data from a Phase1/2 KEYNOTE study, Advaxis and evolved greatly in a short period of time. Not only is the company collaborating with UCLA for its glioblastoma immunotherapy research, but it has also submitted an IND application for its ADXS-HOT drug candidate targeting prostate cancer.
The latter of the two serves some importance. The reason being is that Advaxis expects data from its HOT drug program in early 2020. Seeing that we’re on the eve of the start of 2020, it could be prudent to note this development.
Penny Stocks To Buy For Under $1 #2 Lilis Energy (LLEX)
Lilis Energy Inc (LLEX Stock Report) has emerged as another penny stock that has managed to record highly impressive gains. These came over the course of the past three weeks. LLEX stock gained over 200% during that time. This week saw share prices settle out above $0.36 but that may or may not change heading into the new year.
Earlier on in December, the company had received a deficiency letter from the New York Stock Exchange because the price of the stock had gone below the relevant threshold.
Penny Stocks To Buy For Under $1 #3 Christopher & Banks (CBKC)
The final penny stock that could be added to the watch list in this regard is Christopher & Banks (CBKC Stock Report). It has become one of the top, cheap stocks to watch. Though the trading volume is relatively lighter than other penny stocks to watch, CBKC has realized a strong move up. This was from around $0.10 during the latter half of November to highs of $0.633 today.
That 530%+ move seems to have initially been triggered by speculation surrounding the company’s earnings results. Leading up to its December PR, shares of CBKC stock jumped up big. What the rumor outlined was further confirmed by the official news. It saw comp sales increase by 4.5%, revenue jumped by 3%, and gross margins improved 415 basis points.
Keri Jones, President and Chief Executive Officer, commented, “We were very pleased with our results in the third quarter as we delivered strong performance across all key financial metrics. Comparable sales growth of 4.5% reflects positive results in each month of the quarter as well as positive comparable sales across all channels. When I joined Christopher and Banks, I saw enormous untapped potential to address an underserved customer with a highly regarded and trusted brand and put in place a plan to capture this customer segment.”