The penny stocks market is volatile, and investors can love it or hate it for this reason. Volatility means sudden and unexpected (and often unexplained) gains in the double and sometimes triple digits. If this happens, investors can profit fast. By definition, penny stocks trade for $5 and under.
So we’re checking out who gained big in March, and as a result, should be watched very closely in April.
With over 2,800 penny stocks currently trading on the NYSE and NASDAQ, it’s a tough battle to find the penny stocks that may return in kind. One way of at least narrowing the choice is also the most obvious—find the ones that recently made big moves. Here are two.
Penny Stocks to Watch in April: Akari Therapeutics Plc
New York-based Akari Therapeutics Plc (NASDAQ:AKTX) is a clinical-stage biopharmaceutical company. Its focus is on developing treatments for various rare immune diseases. At the time of writing, the AKTX penny stock is selling for $3.25 USD on the NASDAQ.
The company is currently onto a good thing; AKTX shares jumped 122.96% to $4.08 in the middle of March because Akari Therapeutics received positive news from the FDA.
Any investors following the biopharma sector will understand the power of the FDA. The governmental body has the ability to make or break a company’s progress with a drug or treatment. Its approval, therefore, can make shares soar.
Such is the case with Akari. The company announced it had a positive pre-investigational new drug (IND) meeting with the FDA. The drug in question is one developed to treat a rare condition called pediatric thrombotic microangiopathy.
Watch these shares moving forward.
Penny Stocks to Watch in April: Eastman Kodak Company
The middle of March saw KODK shares hit a high of $3.71 USD. Shares have declined since for the Eastman Kodak Company (NYSE:KODK), but another bull run is very possibly around the corner.
What has investors intrigued about Kodak is a refocus. The company rebuilt itself as a multifaceted technology corporation dealing with various aspects of its industry–commercial print, electronic displays, packaging, commercial films, 3D printing, among other things.
Interestingly, many of these areas are experiencing a resurge. And Eastman Kodak Company’s operational results are proving such. The company’s most recent three months saw it boast a net income of $19 million USD. Areas such as 3D printing and electronic displays, in particular, have the potential of being massive revenue streams as these are up-and-coming technologies.
Kodak has placed itself at the fore of these burgeoning sectors. At present, this penny stock is selling for $2.52 on the NYSE, but there could potentially be further growth ahead, so watch this space.
What penny stocks are you watching?
Featured Image: DepositPhotos @ Kuzmafoto