Penny Stocks to Watch on Wednesday: OTKL and WKHS

Penny Stocks

The biggest deterrent preventing would-be investors from getting in on the game is, of course, risk. There is absolutely no stock out there that is completely risk-free, and that’s just the nature of investing. Penny stocks, however, represent an opportunity for potential speculators to get into the market without fear of possibly losing everything due to their low share value. Penny stocks also represent the best chance to make huge gains off a small input—if you’re lucky that is.

Outlook Therapeutics

Outlook Therapeutics Inc (NASDAQ:OTLK) is a New Jersey-based biopharmaceutical company that focuses on developing and commercializing ONS-5010, a form of treatment for wet age-related macular degeneration (wet AMD) and other retinal diseases. Outlook stock is currently valued at $1.83, which is actually down 3.68% on today’s trading.

However, the company recently made some really promising announcements, such as the completion of patient enrollment in its Norse 1 Phase 3 clinical trial of ONS-5010. Should this trial prove successful, the company is set to submit for regulatory approval in multiple markets in 2020. Outlook’s share price currently sits a long way off its year high of $10.56 in March, so watching this penny stock for now may be a good idea.

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Workhorse Group

Workhorse Group Inc. (NASDAQ:WKHS) is one company that really looks to be going from strength to strength as of late. The Ohio-based manufacturer, which focuses on producing electrically powered delivery and utility vehicles, saw its share price pretty much stagnate in the first half of the year as it rarely broke the $1.0o marker.

However, following an announcement that the company is to produce 1,100 lightweight electric-powered NGEN vans for United Parcel Service (NYSE:UPS), the company’s stock rocketed upwards.

While Workhorse stock may be up nearly 32% this week, it’s still valued at just $4.17. The company will be hoping that it’s deal with UPS will see widespread adoption of electric utility vehicles, and so this penny stock could represent a huge opportunity, but, as with anything stock related, it’s best to do your research first.

What do you think of these penny stocks?

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Featured image: DepositPhotos © aremafoto

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