3 Penny Stocks Making Interesting Moves With High Volume
One of the biggest attractions to penny stocks is the fact that these stocks have the potential of generating enormous profits. Not only that but these profits typically come from a relatively small investment.
Since cheap stocks generally trade below $5 a share, it is possible for an investor to buy a large number of shares. Furthermore, some penny stocks are so low priced, investors can buy millions of shares for hundreds of dollars.
If the stock then moves in the right direction there could be a hefty profit in tow. So if you wonder, “are penny stocks are worth it,” that depends on who you ask. For novice investors using penny stocks like lottery tickets, the answer is likely no. But for experienced investors who understand trading, the answer is likely yes.
However, it’s not easy to get hold of such stocks so you need to conduct research. If you go into a trade without a plan, then plan on losing. Sure, you might get lucky but luck shouldn’t have a place in your plan to make money with penny stocks. Here is a look at three penny stocks that went big this month so far.
Best Penny Stocks #1: Resonant Inc. (RESN)
The first penny stock to watch is Resonant Inc (RESN Stock Report), which enjoyed impressive gains on Wednesday. This came after it announced the agreement of an important deal. Resonant is involved in changing the ways in which radiofrequency front ends are designed. Yesterday, it announced that it had reached an agreement with radiofrequency and module provider Murata Manufacturing Co.
The agreement in question stretches over multiple years and there is no doubt that it is a significant development for Resonant. Additionally, Resonant also received an investment of $7 million from Murata and it was no surprise that the company’s stock climbed as much as 18% on Wednesday.
Best Penny Stocks #2: Perma-Fix Environmental (PESI)
Another one of the penny stocks to watch that has been on a roll is Perma-Fix Environmental Services, Inc. (PESI Stock Report). Back on September 24, the company announced that it had reached an agreement to work on nuclear service projects.
More importantly, those projects could help Perma earn as much as $15 million over the course of the next 18 months. The development resulted in a significant rally in PESI stock. Over the last two weeks, the stock has gained as much as 30% as investors piled into it.
Best Penny Stocks #3: Lexicon Pharmaceuticals (LXRX)
Last but not least; Lexicon Pharmaceuticals, Inc. (LXRX Stock Report). Shares of LXRX stock have been on a tear for around a month. This was ever since terminating its partnership agreement with Sanofi. The termination gave Lexicon full control over its diabetes product Zynquista and in addition to that, Sanofi is going to pay the company as much as $260 million as a parting shot.
$208 million is going to be paid straight away and the rest of it is going be paid over the next 12 months. The stock has jumped by as much as 55% in the past month. The company will be conducting poster presentations of its XERMELO therapy this week at the North American Neuroendocrine Tumor Society Annual Multidisciplinary NET Medical Symposium.