Penny stocks thrive in a volatile market. And with the US/China trade war intensifying and oil price tensions in the Middle East, there’s real potential in the penny stocks market. That’s because these low-priced shares benefit from sudden declines and equally sudden increases. The opportunity to pocket a quick profit is palpable.
Here are some small-capped stocks that returned significantly to investors only last week.
Penny Stocks Rising – General Molly (NYSE:GMO)
Colorado’s industrial metal firm General Molly (NYSE:GMO) gained 107% last week, as market volatility led to increased volume for these shares. Currently, trading for $0.32 USD, those gains have corrected from the high of $0.44 hit on Friday 17th.
But as stated, in one swift week these penny stocks more than doubled in a week. For the past 6 months, shares had stagnated around the $0.20 mark, but last weeks sudden and unexpected climb should put them on your radar.
Penny Stocks – Outlook Therapeutics (NASDAQ:OTLK)
Another penny stock to watch is Outlook Therapeutics (NASDAQ:OTLK). These shares packed on more than 75% in the last week after Oppenheimer initiated coverage on the company. It gave it an outperform rating and price target of $12 per share.
Shares of the clinical-stage biopharmaceutical company hit a high shortly thereafter of $3.17 USD.
Analysts at Oppenheimer are raising the flag over the company’s ONS-5010 treatment—a monoclonal antibody, or mAb, for various eye diseases.
Shares have corrected somewhat from those highs, and are currently selling for $2.53 USD on the NASDAQ.
Penny Stocks – Ascent Capital Group (NASDAQ:ASCMA)
Shares of this public holdings company skyrocketed from $0.91 to $1.48 on May 22nd—an increase of 62%.
The company announced that its wholly-owned subsidiary Monitronics International, Inc. entered into a Restructuring Support Agreement with its largest creditors. The result of which should see approximately $885 million in debt eliminated.
The news clearly thrilled investors and shares soared. The Support Agreement means the company will be able “to meet its financial commitments and otherwise continue to operate its business as usual throughout the restructuring period”
It’s a volatile marketplace out there, but that can reflect well on penny stocks. Of course, for those that go up, it’s probable that many others are declining. So keep an eye out and don’t invest too hasty without researching first!
Featured Image: Deposit Photos/alfexe