High risk can lead to high rewards, hence why many investors continue to place their bets on penny stocks. If you know how to buy penny stocks then you know that these types of stocks can provide traders with big
However, knowing how to find top penny stocks can often be a challenge. It can be similar to finding a needle in a haystack at times. Luckily for you, we have done some digging and found 3 of the top penny stocks to watch this week. And did we mention, you can’t find these penny stocks on Robinhood either?
Penny Stock To Watch Number #3: South Beach Spirits Inc. (SBES)
South Beach Spirits Inc. (SBES Chart) is an alcoholic beverage development, marketing, and distribution holding company. The stock saw a nice boost to its trading volume on April 15th as well as a 40% increase to its share price.
Minutes before the close on Friday, this penny stock had filed an 8-K with the SEC. Why is this important? The 8-k validates that Eric Yuan is the new Director of SBES further to the company’s updated filings with the Nevada Secretary of State. Typically with a change in control of dormant OTC or pink sheet penny stocks, the market gets excited. The main reason for this is that it could signal a changing of the guard, so to speak.
Penny Stock To Watch Number #2: Greater Cannabis Company(GCAN)
Greater Cannabis Company (GCAN Chart) focuses on the development and commercialization of cannabinoid delivery systems. This penny stock generated a lot of buzz in the markets today while its share price soared as high as 148% from its opening price. The stock also traded record volume.
GCAN’s annual report, or 10-K, for Fiscal Year Ended December 31, 2018 was filed with the SEC, which may have been the likely cause of this run. This penny stock had not broken above its 50-day moving average since mid-February. Although this penny stock has given up much of its morning gains, it’s holding its 50-day moving average at $0.13 and is over 65% this month at the time of this article.
Penny Stock To Watch Number #1: Simlatus Corporation (SIML)
Simlatus Corporation (SIML Chart), a holding company, was featured in last week’s article, “Top 5 Hot Penny Stocks To Watch In April.” Since then it has tacked on another 127% to its share price. Since the beginning of April, this penny stock has exploded more than 1,427%. So, what happened?
This massive move began on April 3rd, following some strong penny stock news. The company’s announcement was that its Cannabis Division,
This deal was for the sale of its Cold-Water Cannabis/Hemp Extraction Systems in the USA. Then not even a week later, this penny stock’s share price saw a further boost after SIML announced signing a $175M 5-year distribution agreement in Europe and Canada.