The stock markets have been incredibly volatile for the better part of the past few weeks, and it has often been difficult for investors to identify the hot penny stocks to back. The markets seemed to have turned on Monday after recording early gains, but things seemed to go back to square one this morning. This morning, the markets handed back most of the gains made on Monday. The Dow Jones Industrial Average started the day with gains of 378 points, but then dived by 70 points. In such a situation, investors need to do their research well if they are to discover the hot penny stocks to follow.
Despite the volatility in the markets, there is bound to be a certain degree of interest in penny stocks among investors, and it is only natural considering the very nature of these stocks. Investments in hot penny stocks can end in substantial gains from relatively small investments.
Here is a look at five hot penny stocks that may be worth tracking.
5 Hot Penny Stocks with Big Moves on April 28: CytoDyn Inc (OTCQB:CYDY)
Investors who might be looking to invest in the hot penny stocks on the market could do well to have a closer look at CYDY stock. The stock made significant gains over the past week, climbing 50% and continuing in the same vein this morning. On Monday, it emerged that CytoDyn had completed its rolling submission related to a US marketing application for its product leronlimab.
The company’s application had asked for permission for the medicine to be used along with highly active antiretroviral therapy for treating AIDS patients. This morning, CYDY stock soared by 10% as investors continued to pile on to the stock on the back of yesterday’s development.
5 Hot Penny Stocks with Big Moves on April 28: Broadwind Energy Inc. (NASDAQ:BWEN)
When a company manages to land a major contract, its stock almost always soars, and that is what happened with Broadwind Energy stock this morning. Broadwind stock emerged as one of the hot penny stocks after the company announced that it has managed to bag a contract worth around $19 million.
The customer in question is a turbine wind customer, and Broadwind is going to deliver the tower sections at some point in early 2021. The lion’s share of the contract revenue is going to be included in Q4 2020. BWEN stock soared by more than 24% on the back of the announcement this morning.
5 Hot Penny Stocks with Big Moves on April 28: TrovaGene Inc (NASDAQ:TROV)
TrovaGene stock could be one of the penny stocks to track this morning after it soared following a major announcement from the company. The company announced highly positive results from the Phase 1b/2 trial of its product, onvansertib, and its combination with Avastin and FOLFIRI.
The resultant combination is meant for being the send line of treatment for those who are suffering from KRAS-mutated metastatic colorectal cancer. This is, without a doubt, a major development for the company, and the market reacted positively to the news. TROV stock soared by more than 41% this morning to emerge as one of the hot penny stocks today.
5 Hot Penny Stocks with Big Moves on April 28: NGL Energy Partners LP (NYSE:NGL)
NGL Energy Partners has emerged as another viable option for investors who are looking for promising penny stocks. The company revealed on Monday that it is going to cut its quarterly dividend payout by $0.20 per share.
On the other hand, NGL projected EBITDA earnings to be on the higher end of its yearly projections. The company had previously projected yearly earnings to be in the $565 million to $595 range.
The announcement from the company has resulted in a rally in NGL stock this morning, which has surged by 30%. NGL is likely going to be in focus among investors today.
5 Hot Penny Stocks with Big Moves on April 28: Youngevity International Inc (NASDAQ:YGYI)
Another hot penny stock that could be on investor radars this morning is that of Youngevity International. The company made a major announcement this morning with regards to one of its products.
Youngevity announced that its Hemp Coffee, Javaluation, has now been added to Amazon. This is a significant development since it opens up the product to potentially millions of customers. YGYI stock soared by more than 9% following the announcement.
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