Buy Penny Stocks To Make Money Or A Mocha Frap With A Sugar Crash?
Can you make money with penny stocks? Smart investors who understand how to make money with penny stocks have plenty of opportunities especially right now. However, most penny stock investors will ultimately lose money but why? In short, you can become profitable in trading these cheap stocks. But it’s important to keep in mind that trading penny stocks isn’t like trading blue-chip stocks. Even in the current climate, volatility plays an even bigger role with penny stocks. Yep, just because it might be a cheap stock doesn’t mean it’s worth your time. Then again, just because it’s one of the stocks under $5, it doesn’t mean you should ignore it either.
Call it a fine balance, trader’s luck, or what I like to consider professional trading, making money with penny stocks takes more than just an open trading account and some cash. Here’s the caveat: people get lucky trading penny stocks and think they know how to navigate these waters.
But without a real education, you’re likely to lose more than you win, chalking it up to “that one time you made big money trading penny stocks.” Don’t be “that guy”. Take your time because the stock market itself isn’t going anywhere. It might ebb and flow, see ups and downs, but there’s one thing that remains constant. That one thing is that there are always opportunities to make money with small- and micro-cap stocks.
Penny Stock Basics: Crawl Before You Walk, Walk Before You Run
The difference between new traders who “win some and lose some” compared to “pros” who seem to always make money with penny stocks is knowledge. This isn’t just knowledge of how to read a financial statement or understand the underlying meaning of a press release.
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I’m talking about the ability to assess the full scope of the market for a given stock and figure out if, for example, “this” is a day trade or a swing trade; a hold or a flip. At the end of the day, the profit and loss statement tells the tale of the tape. I hope that if you’re reading this, you’re here for information and that you’ll continue researching after you leave this page.
Knowing, truly is half the battle. Good thing for you we have a lot of tools you can use. Throughout the article, you’ll see ‘XYZ Stock Report’. That will take you to a company profile page where you’ll get information on news, analyst ratings, filings, and even a full corporate overview you can have sent straight to your inbox.
Take advantage of that and feel free to use it alongside the other DD. In the meantime, here’s a list of penny stocks that are trading for less than a Grande Mocha Frap at your local chain coffee shop. Are they on your buy or sell list right now?
Penny Stocks To Buy [For Less Than A Cup Of Coffee] #1: Theratechnologies Inc.
Theratechnologies Inc. (THTX Stock Report) is somewhat of a newcomer to our site. Despite having slowly and steadily climbed from $1.68 on June 2 to around $2.23 on July 23rd, THTX stock hasn’t really been anything to “write home about”. You might be saying, “well, it’s up 32% in that timeframe.”
You would be correct. However, Thursday was the second largest share volume day THTX has seen all year at 1.47 million shares. On average, this penny stock trades an average of 80,000 shares per day. So by most accounts, THTX stock isn’t the most active. That is, until today or more specifically aftermarket on July 23rd.
Theratechnologies came out with news. But not just any news; big news. Is it big enough to spark a longer-term rally? I’ll leave that up to you. After the closing bell on Thursday, Theratechnologies announced new data that further support the potential role of its tesamorelin in the treatment of HIV-associated nonalcoholic steatohepatitis or ‘NASH’.
“These data demonstrate for the first time how tesamorelin reduces the accumulation of liver fat and improves hepatic gene expression that reflect an overall return toward liver health in people living with HIV-associated NAFLD/NASH.”
Dr. Steven Grinspoon, Professor of Medicine at Harvard Medical School, Chief of the Metabolism Unit at Massachusetts General Hospital, and a scientific consultant to Theratechnologies Inc.
Penny Stocks To Buy [For Less Than A Cup Of Coffee] #2: Northern Dynasty Minerals Ltd.
Is this the “make it or break it moment” for Northern Dynasty Minerals Ltd. (NAK Stock Report)? Much like biotech stocks heading into the final phases of their advanced trials, July 24th could be a hallowed day for Northern Dynasty. Why do I say this? Well, first, being able to have watched this company since back in February has allowed traders to see progress in real-time. If you’ve been reading our articles on NAK stock, then you know there may be an important date coming up for the company. Specifically, earlier this month, the company announced an update.
CEO Tom Collier explained in a recent PR, “It is our understanding based on conversations with the U.S. Army Corps of Engineers that the final EIS will be published in the Federal Register on July 24th. This will mark one of the most significant milestones for the Pebble Project. Following the final EIS, the USACE will use this document as it prepares the Record of Decision for Pebble – a step expected to follow the publication of the final EIS.”
The biggest focus for the company has been on its principal asset, owned through its wholly-owned Alaska -based U.S. subsidiary, Pebble Limited Partnership. It is a 100% interest in a contiguous block of 2,402 mineral claims in southwest Alaska. This includes the Pebble deposit and an initiative to develop one of the world’s most important mineral resources.
[Read More] 3 Penny Stocks To Buy For Under $3 Right Now; Are They Worth It?
Despite a negative article coming out on the company this week, questioning the validity of basically every fabric of the company’s history, NAK stock surged to new 52-week highs after hours on Thursday ($2.70). Will this prove to be foreshadowing to the next leg of the NAK bull run or is this the last we see of NAK stock’s bullish momentum?
Penny Stocks To Buy [For Less Than A Cup Of Coffee] #3: Miragen Therapeutics Inc.
Miragen Therapeutics Inc. (MGEN Stock Report) is one of the penny stocks we’ve covered off and on this year. Trading has been relatively choppy, with big spikes and big drops. Overall the uptrend has been bullish but it hasn’t come without a 9 out of 10 rating, in risk tolerance in my opinion.
Intra-day swings in this penny stock have seen MGEN jump up 45% down 50%, up 90% and back down 80%. Obviously not for the faint of heart. But again, overall, from early May to present, MGEN stock has climbed over 100% and as high as 200%.
That was even the case during the end of 2019 and early 2020. MGEN stock managed to rally from around $0.40 in late December to highs of $2.27 by late January. Look at a chart and you’ll see it came crashing down. But all the same, volatility has played a big role for MGEN stock.
So what’s happened now to put it back on a list of penny stocks to watch? On Thursday after the close, Miragen reported an update. The company announced that the FDA granted orphan drug designation to its cobomarsen. This is for the treatment of T-cell lymphoma. Cobomarsen is an inhibitor of miR-155 currently being developed by miRagen in two clinical programs to address different types of T-cell lymphoma.
It includes a Phase 2 trial for cutaneous T-cell lymphoma and a Phase 1 trial for adult T-cell leukemia/lymphoma. Thanks to this update, MGEN stock has surged after-hours on July 23rd. Can that continue into the end of the week?
