Are You Buying The Right Penny Stocks?
During the first part of 2019, penny stocks are off and moving at a solid pace, with the S&P 500 bouncing back close to 11% as it currently stands. However, we aren’t watching for just 11% gains. We are taking the actions needed to find the stocks that could double your money.
For instance, if you executed a trade at 500 shares of a $1 penny stock that increased in price by $0.50, you could catch a 50% return on your investment in just a short amount of time.
Yet, while the gains may appear simple to allocate, identifying the best penny stock to invest your money in is a bit more difficult than it seems.
You see, there are over 2,800 stocks trading on the NYSE and Nasdaq for less than $5 – the U.S. Securities and Exchange Commission’s definition of a penny stock.
In order to help people recognize top penny stocks to buy, we will be looking at last week’s top-performing penny stocks. E
Which Penny Stocks Are Performing?
After looking at last week’s top penny stocks, well go over a penny stock that’s on the verge of delivering a return of over 372%…
Here are last week’s top-performing penny stocks:
Penny Stock Sector Current Share Price Last Week’s Gain
JMU Ltd. (NASDAQ: JMU) Utilities $2.22 133.68%
Aquabounty Technologies Inc. (NASDAQ: AQB) Healthcare $4.89 116.37%
Seelos Therapeutics Inc. (NASDAQ: SEEL) Healthcare $3.39 111.88%
Iconix Brand Group Inc. (NASDAQ: ICON) Industrial Goods $0.35 84.23%
Pulmatrix Inc. (NASDAQ: PULM) Healthcare $1.77 63.89%
Moxian Inc. (NASDAQ: MOXC) Technologies $0.76 60.59%
TDH Holdings Inc. (NASDAQ: PETZ) Basic Materials $0.90 57.72%
Alphatec Holdings Inc. (NASDAQ: ATEC) Services $2.49 54.66%
Tenax Therapeutics Inc. (NASDAQ: TENX) Services $1.99 53.08%
Helios and Matheson Analytics Inc. (OTCMKTS: HMNY) Financial $0.01 44.91%
While last week’s returns performed well, penny stocks can produce magnificent returns even when other parts of the market are falling.
Laredo Petroleum Inc (NYSE: LPI) is a natural gas and petroleum production firm based in Tulsa, Okla.
Established back in 2006, Laredo currently manages reserves in Texas’ Permian Basin equaling 215 million barrels of oil, 62% of which is natural gas.
Unlike most drilling companies, Laredo uses a drilling system known as the mechanical earth model, which utilizes data analysis of the earth’s geological makeup to distinguish the best drilling locations.
According to Laredo, this process dramatically increases the performance of the company’s drilling operations, saving energy and lowering costs.
This is most evident in the company’s bottom line.
Laredo as of now maintains a staggering 85% return on equity – that’s 83% higher than the industry average of 1.97.
As well, Laredo has increased its gross profit by a sturdy 81%.
And there doesn’t seem to be any signs of progress slowing down anytime in the near future. According to analysts, Laredo’s share price is likely to bounce to $14.