Penny stocks, by definition, are equities that trade below $5 dollars per share according to the Security and Exchange Commission. Although there are numerous companies on the Nasdaq and NYSE that would fall into the SEC’s definition of a penny stock, the Over-the-Counter (OTC) Markets are home to many of the top penny stocks.
Peer To Peer Network aka Mobicard Inc. (PTOP)
Peer To Peer Network (PTOP Stock Chart) aka Mobicard exploded last week, gaining as much as 337.5% hitting a high of $0.0035. This is a level that the penny stock hasn’t seen for nearly a year. Even more impressive, PTOP stock had traded over 345 million shares on Thursday, compared to its 3-month average of 9.57 million just to put things into perspective. So, after a generally quiet year, what caused this tech penny stock to grow by triple digits?
If you’re watching for penny stock news, you would have seen that that PTOP had completed a settlement of its largest outstand liability. It was a convertible note issued in 2015 for the license and transfer of assets to the company. By paying its debt, this penny stock can now move forward with its product development with the hopes of a potential soft release later this year.
CBD Unlimited, Inc., (EDXC)
CBD Unlimited (EDXC Stock Chart) has seen its share price increase more than 140% since the beginning of the month. On April 17th, this penny stock recorded a new 52-week high of $0.745. It has also tacked on nearly 475% to its share price since the beginning of March. The provider of hemp products recently booked another record-breaking quarter for Q1 2019.
EDXC stock first saw a boost to its price following the completion of an FDA Label review. This could lay the foundation for the company to enter pharmacy, food and mass retail. This penny stock has been on a 12-day uptrend since putting out news of the completion of its production of 7.5 million wholesale products.
Verus International, Inc. (VRUS)
Verus International (VRUS Stock Chart) saw its share price pop over 60% on Thursday with above-average trading volume. The food distribution penny stock reported a 145% increase for its fiscal 2019 first quarter. This followed Verus reporting a 101% increase in annual revenue for fiscal 2018. This news sent the penny stock to fresh 52-week highs of $0.018 in the coming days.
The momentum seems to be continuing for VRUS stock as the company also reported having its largest funded backlog in history. It was said to be at $24 million for delivery over the next year at the time of the news. Will Verus International report an increase in revenue for Q2?