best penny stocks make money now

Every day we look for different stocks to trade. However, when it comes to penny stocks, we’re very specific on certain criteria that need to be met before even considering adding it to your list. Mainly, we look for penny stocks that have consistent volume and then monitor chart patterns to decide if they’re actually the best penny stocks to trade.

Momentum can be a huge driver for gains. As you probably already understand, penny stocks can fluctuate quickly so a move of just a few pennies can mean a windfall of over 100%. But again, it depends on several factors.

Aside from trading volume, you also want to be aware of news. This includes both updates from the company as well as what’s going on in the industry. A certain company can have a bulletproof business model, big earnings, and strong growth, but if the industry or sector it’s in has negative sentiment, the gains are likely to be fleeting.

How To Make Money With Penny Stocks

So, as you’re looking for penny stocks to trade, keep this in mind. I should also mention that having proper education is just as important. You might get lucky here and there. But I preach this every day in my stock chat room, to become consistently profitable, you need the right education. A true, professional education.

The biggest reason why a trader will fail is that they lack proper education. All of my students learn the basics first, then we discuss more advanced trading strategies. Whatever you do, don’t just dive in headfirst without a plan and if you’re just getting your feet wet, you might want to paper trade penny stocks before using your hard-earned money.

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I’m not writing this article to teach you how to make money with penny stocks. That’s a much bigger discussion that we discuss in chat. But what I would like to do is discuss a few of the penny stocks we’ve talked about recently and ones that have shown strong momentum this week already.

Penny Stocks To Trade [or avoid]: Aurora Cannabis

best penny stocks to watch Aurora Cannabis (ACB)

Now, I know Aurora Cannabis (ACB – Free Report) has been discussed on PennyStocks.com as one of the most popular penny stocks on Robinhood. But I’d also like to point out the fact that it’s one of the bigger marijuana stocks that has turned around a bit this week. We all know how bad the pot sector performed last year. But even so, there’ve been periods of breakouts along the way.

This week, Aurora hit fresh 52-week lows. But since then, shares have been climbing on relatively strong trading volume. On Wednesday (1-15) ACB managed to reach highs of nearly $2 before lunch. Now, I will say that Aurora is likely moving based on other industry news.

[Read More] Gold Stocks & the Top Gold Penny Stocks to Watch

We saw Aphria (APHA – Free Report) deliver weak earnings results but we also saw a few positive updates, too. First, Organigram (OGI – Free Report) delivered strong earnings while Tilray (TLRY – Free Report) announced the appointment of a former Molson (TAP – Free Report) executive as CFO as well as a former Revlon (REV – Free Report) executive as operating chief.

Penny Stocks To Trade [or avoid]: Novavax Inc.

penny stocks to buy sell Novavax NVAX stock

Next, Novavax Inc. (NVAX – Free Report) saw a big move this morning. Before the market opened, the company announced big news. Novavax reported that the FDA granted Fast Track Designation for its seasonal flue vaccine candidate. Based on this development, Stanley C. Erck, President and Chief Executive Officer of Novavax, said, “We believe that NanoFlu will offer an innovative improvement compared to traditional egg-based vaccines, which frequently result in mismatch and poor effectiveness. We look forward to working closely with the FDA through the expedited review process, accelerating the access to this vaccine for the most vulnerable populations.”

Keep in mind that the company has an ongoing Phase 3 trial of its NanoFlu candidate. The main objectives are to demonstrate superior ability to induce an immune response to the treatment in comparison to the leading “Fluzone” treatment. It’s expected that top-line data will come out this quarter. So, after news like this, consider that there could be more to look for as the first quarter rolls on.

Penny Stocks To Trade [or avoid]: Sprint

penny stocks to trade sprint (s)

Now, I know Sprint (S – Free Report) was essentially a short call on this site a few weeks back. Since then, shares of Spring stock have declined considerably. However, this penny stock comes to the list today because there is a potentially big event to pay attention to.

As you may or may not know, the company has been involved in ongoing court hearings trying to block the merger between T-Mobile (TMUS – Free Report) and Sprint. Today, the companies’ lawyers are set to give closing arguments before a federal judge. The obvious goal is to justify why the merger should go through despite opposition from a group of state antitrust officials. The companies have argued that their merger would allow the unified company to compete more effectively with larger companies like Verizon (VZ – Free Report) and AT&T (T – Free Report).

This could be a big move for Sprint, no matter the decision. If the lawyers can’t make a case, we might see more bearish sentiment for the stock. On the other hand, a positive outcome could be a big catalyst for a bearish stance on Sprint.

Penny Stocks To Trade [or avoid]: Fluent Inc.

penny stocks to trade Fluent Inc. (FLNT)

I saw this company discussed on Tuesday evening in this article on PennyStocks.com. Fluent Inc. (FLNT – Free Report) saw a big move after the close on Tuesday thanks to an update. The company reported preliminary financial information for its full-year 2019 results. The company guided higher than it previously discussed. This includes higher revenue expectations as well as larger media margins.

Yesterday’s momentum continued on Wednesday. Shares hit highs of $3.90 on the heels of the January 14 update. However, keep something in mind. The company won’t report final full-year results until March. So as good as this is right now, make sure you note this date as there’s still a lot of time between now and then.

Penny Stocks To Trade [or avoid]: FuelCell Energy

penny stocks to watch FuelCell Energy (FCEL)

Finally, FuelCell Energy (FCEL – Free Report) has been one of the energy stocks that we’ve watched over the past few weeks. Even though the overall trend for 2020 is sideways, it’s been a strong penny stock to trade on a day to day basis. Today, for instance, shares jumped a little over 5% so far and since late December, FuelCell’s stock is up considerably.

One of the big catalysts behind the stock is based on the fuel cell sector itself. A number of stocks have performed well amid growing concern about climate change. Wherever you stand on the argument, you can’t ignore the growing public concern. As for FuelCell Energy, the company itself has been executing on several initiatives.

This week, the company announced details of the performance of its SureSource™ fuel cells to provide microgrid solutions. The company explained that in California, specifically, its fuel cells helped facilities remain operations during shutoffs. FuelCell Energy’s platforms are used by colleges, prisons, and even municipalities to provide energy solutions for customers.

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