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3 Penny Stocks To Watch Before The Weekend

While the markets continue to see increased volatility, penny stocks have seen interest building. If you think it’s just because of the cheap share price, you may be partially correct and here’s why. Many of the bigger names in industry haven’t been immune to the market sell-off. As such, several of these names have found their stock trading below $5 per share; sometimes even below $2. This increased awareness and exposure to penny stocks isn’t a bad thing. Rather, in my opinion, it opens up this class of stock to a whole new populous; ones that may otherwise completely avoid penny stocks.

Most recently, we’ve seen REIT and energy penny stocks follow this trend. These two industries also have some of the staunchest of long-term investors. Based on that, it’s worth noting that they’ve certainly seen shares tumble into this uncharted territory. But if that’s the case, then they’ve also seen the recent rally in those same shares. What’s the point?

Well, if you’ve come across because you’re “in that boat,” then it’s important to know that not all penny stocks are the same ones you’ve seen in the movies. Many of these companies are building a business from the grassroots. As traders, the potential comes with the volatility. There are very few places where you can sit for a couple of hours, risk a few hundred dollars and make a few thousand. With penny stocks, you’ll likely come across at least 100% mover per week; sometimes per day.

How To Find The Best Penny Stocks

The key is finding which penny stocks have the right set up. For example, a penny stock may jump 200% within a few hours. But if the market is illiquid – only trades a low amount of shares – then I would consider that a false move. If a penny stock doesn’t have enough volume for you to easily buy and sell without either causing the stock to skyrocket (buying) or losing money (selling), then you might want to keep looking.

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You’ll see some “gurus” talk about how a stock is “running” or how “explosive” it is. But when you start peeling back the layers, you may find a $0.05 stock that, in fact, jumped to $0.20 (a 300% move) but might have only traded only a few thousand shares. In my opinion, there is a very slim chance you would have been able to make a meaningful trade. On the other hand, if that same stock were to be trading several hundred thousand shares, then there’s a different argument to make, there.

This having been said, it’s important to learn the basics first. Understand how to find grade-A setups so you have the best chance of success. Finally, when you identify some penny stocks to put on your watch list, take time to see how they trade before jumping in immediately. Sometimes waiting, is the best route when looking at volatile penny stocks or the market, in general. With this in mind, let’s take a look at a list of penny stocks to watch this week. Then you can decide if they’re the best penny stocks to buy or if you should avoid them at all costs.

Penny Stocks To Buy [or sell]: DPW Holdings

penny stocks to buy sell DPW Holdings (DPW)

DPW Holdings (DPW – Free Report) has been one of the more volatile penny stocks to watch this year. While it has had its big breakout days, it has also had its share of big dips too. For example, during late February, DPW stock reached highs of $2.34. By the end of March, it had made a new 52-week low of $0.53. Understanding the underlying trend of a given penny stock is important and why I point this out. Tuesday, however, DPW stock was in rally-mode again.

During the premarket session, the penny stock reached highs of $1.63. This move came after the company made a big announcement. DPW said that its Coolisys Technologies business is seeing offshore manufacturing partners in Asia back to near full capacity. Furthermore, Coolisys is gaining increased demand from customers in the medical industry for power supplies related to oxygen concentrators and ventilators.

According to the company, current orders total roughly $1.4 million. Given the fact that DPW stock has jumped high during premarket, it could simply be a penny stock to watch, initially. Shares are up considerably from the previous close.

Penny Stocks To Buy [or sell]: Aytu BioScience

penny stocks to watch Aytu BioScience (AYTU)

Similar to DPW, Aytu BioScience (AYTU – Free Report) has seen its share of volatility over the last month. When we first started to discuss Aytu, it was trading around $0.75. During the week’s to follow, AYTU stock pulled back a bit. But then the company announced a major development that saw shares jump to highs of $2.99. Ever since, Aytu has been one of the coronavirus penny stocks to watch for most of March and now, April. From a day-to-day time frame, the penny stock has seen considerable swings.

On Tuesday, however, shares of AYTU stock are swinging higher during premarket trading. The penny stock reached early highs of $1.70 after releasing news. The company announced over the last 3 weeks, it received more than $23 million in cash from warrants getting exercised. The price of exercise is important to know as this can point to potential levels of dilution or even levels of resistance if the warrant exercise price is above the market’s retail price. In this case the exercise prices ranged from $1.25 to $1.50 with a weighted average of $1.35 & equating to about 17.1 million warrants exercised.

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Aytu has been in the news frequently for its rapid test kit. The company said it has 100,000 tests ready to ship across the country with 500,000 more on the way. Considering the big focus on testing, AYTU could be one of the penny stocks to watch this week.

Penny Stocks To Buy [or sell]: Nio Inc.

top penny stocks Nio Inc. (NIO)

Shares of NIO Inc. (NIO – Free Report) have traded lower for the last few weeks. While a brief glimmer was seen for a few days at the end of March, it may have simply been a sympathy move in step with Tesla (TSLA – Free Report). Either way, the company has caught attention on Tuesday. NIO stock jumped to highs of $2.79 during premarket trading after thee company’s latest delivery report.

During the month of March 2020, Nio delivered 1,533 vehicles. This brought the total delivery for 2020 to 3,838 while cumulative deliveries of its ES8 and ES6 reached more than 35,700. The March delivery figure represented a 116.8% month-over-month jump. According to Nio, this was achieved thanks to recovering the production capacity at the company.

Steven Feng, the chief financial officer of NIO, added, “As the COVID-19 outbreak is largely brought under control in China at this stage, we will continue working closely with our supply chain partners to resume normal productions. Meanwhile, we remain committed to roll out NIO Spaces and integrate online and offline sales channels to further boost our order growth.”

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