Are These On Your Penny Stocks Watch List This Week?
Over the years, thousands of investors have been able to make fortunes through clever investments in penny stocks. Hence, it is no surprise that these stocks are almost always in high demand. However, it is also true that investors need to do their research properly if they are to discover penny stocks to buy.
One of the best ways of discovering quality penny stocks is by watching the market closely and identifying stocks that have made big moves. On that note, here is a look at five penny stocks that recently made significant gains. The biggest question now, “Are they the best penny stocks to trade now or should you avoid them at all costs?”
Penny Stocks To Trade [or ignore] #1:
The first one to consider in this regard is Plug Power (PLUG – Free Report). It has made significant gains for the last year straight. In fact, since the start of 2019, shares of PLUG stock have climbed by more than 250%.
One of the biggest developments recently came after the company updated on a new contract. Plug Power reported that it received a contract from a “Fortune 100” logistics company valued at more than $172 million. There seems to have been a new interest in fuel cell stocks over more recent months.
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“The material handling industry remains our core growth market in the near-term. This sizable contract signifies continual market validation to customer’s rapidly moving material handling business thus far. We commend this customer for its leadership in hydrogen and fuel cell adoption throughout the logistics business.” Chief Executive Andy Marsh
Penny Stocks To Trade [or ignore] #2:
Another penny stock that made big gains recently is that of CounterPath, Corp. (CPAH – Free Report). It soared on January 10 after the company announced a major partnership. CounterPath announced that it has entered into a partnership with tech major Honeywell. The deal sees Honeywell helping CounterPath develop communication software named SmartTalk.
“Honeywell Smart Talk software, combined with our powerful mobile devices, enables these mobile workers to use one device to access critical information, make calls and send messages to other employees, getting answers in an instant.” Kevin Dehoff, President of Honeywell’s Productivity Products.
It is a significant deal for CounterPath and it was no surprise that investors piled on to the stock after the news. CPAH stock rallied by as much as 304% and made a new high of $4.45 on Friday to emerge as one of the biggest penny stock gainers. That trend has continued this week as CPAH stock hit highs of $6 on January 13.
Penny Stocks To Trade [or ignore] #3:
Another one of the penny stocks that was trending at the start of the week was Denbury Resources (DNR – Free Report). Though shares have gotten beaten up the past 3 trading sessions, mid-day momentum saw shares rally. At the opening bell, DNR stock dropped to lows of $1.17. However, since then, the stock has recovered by as much as 8.5%.
Much of the concern has stemmed from the price of energy lately. More specifically, oil and gas hasn’t gotten off to a running start this week. When it comes to Denbury, it was one of the few names in the sector to actually trade in the green on Monday morning. Can that trend continue in to the week ahead?
Penny Stocks To Trade [or ignore] #4:
One of the top penny stocks to watch on January 13 was Adaptimmune Therapeutics (ADAP – Free Report). Shares catapulted seemingly out of nowhere at the start of the week. In fact, the price of this penny stock was virtually unchanged since the start of the year. But on Monday, that changed.
Adaptimmune released big news before the opening bell. The company announced a big update at the JP Morgan Healthcare Conference. Adaptimmune revealed positive results from tests of its SPEAR T-cell platform. As a result, shares exploded from a January 10 close of $1.33 to highs of $5 before 12 PM EST on January 13.
“These responses demonstrate that our proprietary SPEAR T-cell platform is clearly active and can overcome the challenges of treating a range of solid tumors with a T-cell therapy product. These are early results and we need more patient data and durability information to determine which therapies to develop. Nonetheless, this is a critical demonstration of the value of our SPEAR T-cell therapies for people with cancer and a validation of the importance of our proprietary affinity engineering.” Adrian Rawcliffe, Adaptimmune’s Chief Executive Officer
Penny Stocks To Trade [or ignore] #5:
Finally, Aethlon Medical (AEMD – Free Report) continued its multi-week bull move on Monday. Shares hit highs of $1.80 and marked a move of 137% since hitting 52-week lows in late-December. Besides some insider buying earlier this month, there hasn’t been much from the company in the form of news.
According to several financial outlets including PennyStocks.com, AEMD could be one to watch based on its share structure. Its outstanding share count sits well below 4 million shares suggesting it’s a low float penny stock. Essentially, the public float is what’s out in the market to trade hands.
The float can be equal to or less than the total “O/S” or “Outstanding Shares.” Based on the fact that the O/S is low on its own, the float may be just as low. That’s assuming that all figures are updated. In any event, AEMD has taken off this week already. Can that trend continue?