Penny stocks trade for $5.00 and under, and they can be a really divisive topic in the world of investment. Some people love them for their relatively low price and the possibility for huge returns, while others loathe them due to the huge amount of risk and uncertainty attached. Either way, penny stocks are often the source of some of the biggest investment success stories. Let’s take a look at two that have caught our eye this week:
Senseonics Holdings (NYSE:SENS)
Senseonics is a medical technology company focused on the design, development, and commercialization of glucose monitoring products for those suffering from diabetes. This penny stock has been climbing recently after the company reported a positive coverage decision for its Eversense continuous glucose monitoring system from Cigna. This was followed by a data report, which showed strong real-life applications for the system across adult age ranges.
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Katherine Tweden , PhD, Vice President of Clinical Sciences at Senseonics, explained, “This real-world data with the use of the Eversense CGM system demonstrated that glucose targets, including time in range and time in hypoglycemia, was achieved or nearly achieved across the adult age range. This data provides more real-world evidence on the clinical value and benefit of Eversense CGM.” This penny stock is currently trading for $1.63, more than double its price on February 1.
Harmony Gold Mining Company Limited (NYSE:HMY)
As the Coronavirus continues to wreak havoc on the global economy, safe-haven assets such as gold are soaring. This penny stock has been on an impressive bull run throughout February after purchasing AngloGold’s remaining South African assets for around US$300 million, which includes the world’s deepest mine in Mponeng. The acquisition enhances Harmony’s near-term production by adding annual gold production of approximately 350,000oz per annum, increasing its reserves by 8.27 million ounces, an impressive portfolio for a mining penny stock.
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