The markets have been in turmoil over the past few weeks, but that hasn’t stopped the emergence of penny stock gainers on a daily basis. Penny stocks give people the opportunity to make smart bets on low-priced stocks, and if the potential is there, then the stock could eventually deliver significant returns. That’s why investors who look for value in the markets almost always keep a close eye on the penny stock gainers at any given point of time.
This morning, the stock market started the day by recording losses, certainly a cause for concern to some due to the coronavirus crisis still being at large. On top of that, the price of oil has declined sharply and has hit historic lows. The Dow Jones Industrial Average sank by 390 points this morning, while the S&P 500 declined by 1.55%. However, there are still some penny stocks that could be tracked by investors.
Here is a quick look at 2 penny stock gainers.
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Top 2 Penny Stock Gainers on the Radar for April 20: Safe-T Group Ltd (NASDAQ:SFET)
Another penny stock gainer to have emerged this morning is SFET stock, which soared on the back of a strong revenue growth forecast from the company in the first quarter. The company announced that it believes that the revenue for the quarter is going to be in the $1.05 million and $1.15 million range.
That is significantly higher than the $0.427 million it had generated back in the same quarter last year. In addition to that, around 93% of the company’s $8.23 million worth of debentures have also been converted, and liabilities have been reduced significantly. The stock flew up by more than 23% this morning.
Top 2 Penny Stock Gainers on the Radar for April 20: Eros International Plc (NYSE:EROS)
Indian film production company Eros International Inc is one of the major penny stock gainers this morning. This past Friday, the company announced that it was on the verge of merging with STX Entertainment, a privately held media firm based out of the United States.
The optimism around EROS stock has not yet abated since this announcement, and the rally has continued in the stock this morning. It soared by 17% as investors continued to pile on to the stock. Investors could consider adding EROS stock to their watch lists.
Featured image: Pixabay
