Penny stocks appeal to investors for several reasons. For a relatively low price, investors can load up on a hot penny stock, or a few if they’re feeling brave. With the potential to see double- or triple-digit gains in a relatively short time period, what’s not to like? However, penny stocks are not for the weak of heart. They come with higher risks than most other equities in the markets due to their notorious volatility.
But as the saying goes, with high risk comes the potential for high reward. If you are an investor with a high-risk tolerance, then penny stocks may be right fit for you. Here are 3 sub-penny stocks to watch this April.
Aluf Holdings, Inc. (AHIX)
Aluf Holdings (AHIX Chart), a holding company, has been trading very lightly most of this year until today. This penny stock saw its shares skyrocket 180%, hitting fresh 52-week highs on monster volume. What caused AHIX stock to move higher today? It probably has a lot to do with the news released earlier this morning.
The company announced that it signed a definitive agreement to acquire Interaqt Corporation, d/b/a COLOTRAQ. This is a company focused on global sourcing and owns the first cloud-based software DCITRAQ and a vendor to over 400 companies globally. This acquisition is part of AHIX long-term growth strategy for focus on IT Infrastructure, Data Center and Cloud Services, according to the company.
Crednology Holding Corp. (COHO)
Crednology Holding (COHO Chart), as you can probably guess, is a holding company as well. Last month, COHO announced that it had no other option but to file a 10:1 reverse split which significantly dropped the COHO stock price. However, this penny stock put out news this morning right after the opening bell and saw its share price double instantly. It even set a new one month high.
The company announced that it had filed its financial statements for 2018, which included an increase in revenue and a large increase in EBITDA. The company reported that this was nearly double from the previous year. Furthermore, the CEO said in a statement that the company has been able to cancel the previously planned reverse split. Where will COHO shares be by next week?
AppYea, Inc. (APYP)
AppYea (APYP Chart) a tech penny stock engaged in mobile apps, has had some buzz surrounding it recently. Towards the end of March, this penny stock broke out of resistance and has since pulled in. That previous resistance may now be acting as the new support while it is trading on consistent volume, without any major industry or news catalysts.
Back in February, this penny stock announced a move into the hemp-based CBD-infused products industry and that it had received and fulfilled its first purchase. Furthermore, APYP engaged a design-centric digital commerce company to develop a fresh website and marketing strategy for its CBD ventures.