These Penny Stocks Are Rocking But Can That Continue?
One of the biggest reasons behind the popularity of penny stocks is the fact that you can make big money with smaller investments. Therefore, investors are almost always on the lookout for the next big penny stocks to buy. However, in order to discover such stocks you have to conduct a lot of research and watch the market closely.
For example, this week we’ve seen oil and gas stocks take off. One of the big reasons behind it has nothing to do with penny stocks, directly. But it does have to do with global events. The U.S. and the Middle East are at odds and that has caused tension in the energy sector. Since the Middle East is a major producer, this has made a number of countries uneasy as far as oil supply goes.
Again, that’s just one example of how a much more broadly watched event can trigger a sector move and, in turn, a jump in certain penny stocks. Another way of going about finding the best penny stocks is by tracking certain names, specifically. Building scanners for things like irregular volume or rapid price swings can give you the direct pulse to certain penny stocks. Here is a look at five penny stocks that are gathering momentum.
Best Penny Stocks To Buy [Or Sell] This Week #1 Catalyst Pharmaceuticals
The first penny stock to watch is Catalyst Pharmaceuticals (CPRX – Free Report). It made significant gains after the company made important announcements. On Monday, the company provided highlights of the net revenue that it projects for the full year 2019 from its main candidate Firdapse.
In addition to that, Catalyst also provided its projections for 2020. The company has projected full-year revenues of $102 million for Firdapse in 2019. Out of that, $30 million is projected in the fourth quarter. Catalyst also revealed that it expects to end 2019 with a cash position of around $95 million. The updates were welcomed by the market and CPRX stock managed to rally by as much as 13%.
Best Penny Stocks To Buy [Or Sell] This Week #2 Plug Power naz
Another penny stock that made significant gains this week is Plug Power (PLUG – Free Report). The stock performed well in 2019 and yesterday, it rallied again after the company announced that it signed a major contract. Plug announced that it has signed a contract with a ‘Fortune 100 company’ to supply GenDrive fuel cell power and GenFuel hydrogen.
The contract is worth $172 million and it was no wonder that the penny stock news was welcomed with great optimism by the market. PLUG stock gained as much as 18.27% on the back of the news. It has emerged as a stock that could be tracked by investors this week. Furthermore, the stock is up 176% year-to-date. But will that position it to become one of the top penny stocks to buy or is it just on watch lists for now?
Best Penny Stocks To Buy [Or Sell] This Week #3 Soligenix
The next company adding to this penny stocks watch list is that of Soligenix (SNGX – Free Report). It recently went on a highly impressive rally and managed to hit its 52-week high of as much as $1.95 a share. It happened after the company announced that it had completed the enrollment for the Phase 3 clinical trial of its cutaneous T cell lymphoma product SGX 301.
In an interview, Dr. Richard Straube explained, “Many of the participating investigators have stated that SGX301, if/when approved, will have a definite place in the CTCL armamentarium, where a safe, well-tolerated, front-line therapy is currently needed.”
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SNGX stock rallied by as much as 36% after the announcement was made. It has also shown excellent momentum so far on Tuesday. It goes without saying that it is likely that the stock could be in focus this week as trading remains consistent at above-average levels.
Best Penny Stocks To Buy [Or Sell] This Week #4 CTI Industries Corporation
CTI Industries Corporation (CTIB – Free Report) emerged as another penny stock that gained impressive momentum on Monday. This came after the company made an important announcement. CTI reported that it has signed a letter of intent to divest its Mexican subsidiary. However, during Monday’s afternoon serssion, things took a turn in the opposite direction. CTI revealed an agreement to sell the convertible preferred stock for $5 million to a strategic investor.
The company said that the investment will help it in pursuing its goals. The equity commitment is offered at a fixed price of $1 per share. “Our Company looks very different today than a year ago based upon the extensive changes we have made and are making, enabled by this new convertible preferred stock investment,” said Mr. Frank Cesario, President and Chief Executive Officer. In cases like this, it’s important to pay attention to the market and newsfeed of certain companies that breakout like this.
One good piece of news can trigger a massive rally. But as we’ve seen, a capital raise at such a steep discount to market can dramatically shift sentiment to the downside. What will happen next with CTIB stock? That’s yet to be seen but likely could put this as a penny stock to watch this week.
Best Penny Stocks To Buy [Or Sell] This Week #5 Advaxis Inc. naz
One of the more frequently discussed penny stocks lately has been Advaxis Inc. (ADXS). It’s become one of the best penny stocks to watch since the start of December. But what has helped it along after the new year?
Well, a few things are in motion right now. If you look at a stock chart, you’ll realize the 190% move hasn’t happened overnight. Rather, this has been a sustained, consistent push higher over a span of weeks. This week, shares jumped yet again. Advaxis announced that the FDA cleared it for and Investigational New Drug application to begin Phase 1 clinical studies of its ADXS-504. This treatment addresses prostate cancer.
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“With encouraging proof-of-concept data within our neoantigen program, we believe the ADXS-HOT program has potential to provide off-the-shelf, neoantigen targeted immunotherapies to a broad patient population,” said Kenneth A. Berlin, President and Chief Executive Officer of Advaxis. This has become a developing story and after Tuesday’s news, ADXS stock could quickly become one to remain on penny stock watch lists in January.
