Some Penny Stocks Run So High That They Leave The Definition Of Penny Stocks Behind; Sometimes For Good
It’s true that the large-cap and mid-cap stocks get a lot more attention from most investors. But there is an argument to be made that there is the possibility of making quick profits buying penny stocks. Since those stocks are cheap and trade around $5 or lower, it’s possible that a small move can allow someone to make money with penny stocks.
That being said, an investor needs to keep a close eye on the market in order to have a chance of making such profits. Pay attention to certain trends. These can bee from the market itself or from a specific penny stock chart. But in many cases, penny stocks can hit such a stride and actually take off to become successful and larger companies.
[Read More] 3 Penny Stocks On Robinhood To Watch This Week
As a result, they may not meet the definition of a penny stock anymore. Needless to say, some penny stocks that “leave the nest” continue to capture the attention of penny stock investors because of where the stocks started out. On that note, here is a look at three penny stocks that should be on watch lists throughout the month.
Penny Stocks To Buy For Under $3 #1: CBL & Associates Properties (CBL)
CBL & Associates Properties, Inc. (CBL Stock Report) has had a very tough time over the past half a decade or so and during this period; the company’s stock price dropped less than $1 from $20. The changes in the retail sector have hit the company hard and earlier this year, the company even had to stop paying out dividends.
However, on August 27 it emerged that activist investor Exeter Capital had picked up a 6% stake in the company. Since then the stock has moved as much as 100%. Investors believe that, like other activist investors, Exeter could turn the company around and work in the interests of the shareholders.
Penny Stocks To Buy For Under $3 #2: T2 Biosystems (TTOO)
T2 Biosystems Inc (TTOO Stock Report) has been one of the more interesting companies in the diagnostic space for quite some time and on Wednesday, the company made a major announcement. T2 announced that it had entered into a deal with the United States government’s Biomedical Advanced Research and Development Authority. The contract will see T2 develop tests that are going to be used to decipher biological threats.
The company is going to get $6 million straight away but if the company can meet targets then it could pocket $69. As soon as the news hit the wires, the stock started surging and the T2 stock recorded gains to the tune of 82% on the back of the news.
Penny Stocks You Can’t Buy Under $3: MoneyGram International (MGI)
Money transfer giant Moneygram International Inc (MGI Stock Report) has been mentioned throughout the year on Penny Stocks (pennystocks.com). But now the bird has flown the “penny stocks” nest. MGI stock has now managed to reach highs of more than $6.50. It has had an excellent run over the course of the past few months. In fact, since July 17th lows of $1.99, MGI has now jumped more than 230%.
The investment by Ripple, the payments company which holds the highest number of the cryptocurrency XRP, back in June was the first trigger for growth. However, earlier on this week, MoneyGram entered into a significant deal with payments giant Visa that has further created a flutter among investors.
By way of the deal, people will now be able to send money through MoneyGram to any Visa enabled debit card. Considering the fact that there are around 1 billion Visa debit cards worldwide, the potential customer pool for MoneyGram has increased significantly.