When it comes to stock market exchanges, there are very few that match up to the Nasdaq. It is one of the world’s biggest stock exchanges, and a large number of penny stocks are also listed on it. Considering the status that the exchange enjoys, it could be worthwhile for investors to take a look at some of the promising Nasdaq penny stocks. This morning, the Dow Jones Industrial Average jumped by 400 points, which could also present an opportunity to investors who are looking to invest in Nasdaq penny stocks.
Over the years, penny stocks have proven to be a good option for many investors who hunt for value in the markets. Penny stocks often present an opportunity for an investor to make significant returns through relatively small investments. One of the best possible hunting grounds for such stocks could be the Nasdaq, and at a time when the markets are volatile, investors could consider tracking the penny stocks listed on the exchange.
On that note, here is a closer look at 5 Nasdaq penny stocks that could be tracked by investors right now:
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5 Nasdaq Penny Stocks to Watch: New Age Beverages (NASDAQ:NBEV)
New Age Beverages announced its projections for its first fiscal quarter this morning, and the numbers created a lot of optimism around the stock. The company revealed that its revenue for the fiscal first quarter is going to be in the $62 million to $64 million range. That is higher than analyst estimates of $56.7 million. After the announcement, New Age stock soared by 29% in today’s trading session.
The gross margins for the quarter are expected to be in the low 60% to mid 60% range. In the year-ago period, the gross margins stood at 66%. After the rally this morning, it is likely that NBEV stock is going to be in focus.
5 Nasdaq Penny Stocks to Watch: MEI Pharma (NASDAQ:MEIP)
One Nasdaq penny stock that made significant gains this morning is MEI Pharma. This morning, the company announced that it had reached an agreement with Kyowa Kirin Co., Ltd. (OTCPK:KYKOF) to develop and market a medicine meant for the treatment of B-cell blood cancers. The medicine in question is ME-401.
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By way of this deal, MEI will be paid $100 million straight away, and in addition to that, the company stands to earn as much as $581 million in milestone payments. The news resulted in a strong rally in the stock this morning, which soared by 50% to $2.51.
5 Nasdaq Penny Stocks to Watch: Nantkwest Inc (NASDAQ:NK)
Investors looking for a play from among Nasdaq penny stocks could also consider having a closer look at NantKwest stock. This morning, the stock soared by 17% after it emerged that, along with ImmunityBio, NantKwest is engaged in talks with the United States Food and Drug Administration regarding a pair of products.
The products in question are potential therapeutics and vaccines meant for coronavirus patients. The rally in NK stock has put NantKwest stock in sharp focus, and investors could do well to keep an eye on it.
5 Nasdaq Penny Stocks to Watch: Aldeyra Therapeutics Inc (NASDAQ:ALDX)
ALDX stock has emerged as another intriguing option for investors on the hunt for promising Nasdaq penny stocks. This morning, Aldeyra announced encouraging top-line data from the phase 1 clinical trial of its systemic immune-mediated diseases product, ADX 629.
Additionally, the company also stated that it intends to have a Phase 2 clinical trial of the product soon. After the announcement, the stock soared by 17%.
Featured image: DepositPhotos © Rangizzz
