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3 Penny Stocks To Add To Your August Watch List - $PIR $INFN $MGI

Penny stocks can deliver big returns for investors. Sometimes these returns can come in days or even hours. However, for the “average Joe,” staying glued to a trading terminal is not likely an option. So, for those looking for penny stocks to buy, of course, they’d like to find stocks with sustained trends. This is easier said than done when it comes to cheap stocks.

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If you thought the broader stock market was volatile, penny stocks take it to a new level. The wrong investment can often be highly damaging since penny stocks can often plunge just as quickly as they can rise. This is due to low liquidity, meaning these stocks trade less volume than your Facebooks and Twitters.

Therefore, it’s necessary to watch the market and make a list of penny stocks to invest in. While you have this list, take into account different potential catalysts. These include news, fundamentals, corporate filings, and the overall trend of the penny stock. With this in mind, here is a look at three penny stocks which have made interesting moves recently & could be penny stocks to add to your watch list this month.

Watch List Penny Stock #1:
Pier 1 Imports (PIR)
Market Cap | $19.37 Million

Pier 1 Imports (PIR Stock Report) hasn’t had the best year this year. But lately, it has been one of the penny stocks to watch. The reason being that after hitting 52-week lows of $3.04 earlier this month, PIR stock has continued on a steady uptrend. In fact, as of this week, the stock reached new August highs of $4.68. This 54% move didn’t come out of the blue, either.

penny stock chart PIR
The company was hit with non-compliance from the NYSE. It referenced the fact that the company failed to meet minimum market cap requirements of the exchange (at least $50 million for 30 days).
In response, the company has stated that it will submit a plan of action “within 10 days of the notice.” Since that time has come and past, the company’s shares have steadily climbed; coincidence? In any case, it could be a company to add to your list of penny stocks to watch this month.

Penny Stock #2:
Infinera Corp (INFN)
Market Cap | $932.46 Million

Penny stocks aren’t really known for their consistency but after this article, you may change your mind. Case in point, Infera Corp (INFN Stock Report). If you were watching this penny stock when it hit new 52-week lows of $2.80 in early July, you’d likely be very happy right now. Not only has Infinera jumped in price, but it has been steadily moving for almost months now.

penny stock chart INFN
The most noticeable move came after the company reported earnings earlier this month. Infinera beat both EPS and sales estimates for the quarter. Even though revenue missed expectations, it still was enough to see the likes of Raymond James analysts raise its rating from Underperform to Market Perform.
“During the quarter, we significantly enhanced the longer-term position of the New Infinera with strong customer traction led by bookings from several new Tier-1 wins and the initial ramp of a new internet content provider.”
Tom Fallon, Infinera CEO

Penny Stock To Watch #3:
MoneyGram (MGI)
Market Cap | $224.26 Million

Since June 17, PennyStocks.com has followed MoneyGram (MGI Stock Report) closely. That was the date that the company announced a deal with a leading cryptocurrency company. If you haven’t read the original article, check it out. On June 17, the company closed at $1.45 and the following day it opened at $3.66; a huge 1-day win for short term traders. However, the penny stock pulled back as low as $2.03 during the weeks to follow.

penny stock chart MGI
Some of the most consistent moves in this penny stock have come after it hit those lows. We discussed MGI stock about a week ago as it continued to push toward new highs. Most recently the company reported a redesign and optimization of its web portal. But I think the big thing on everyone’s minds is still the Ripple deal.

You can’t ignore the fact that Ripple invested $30 million in MoneyGram along with an option to invest another $20 million in the future. Also bear in mind that this money was invested at a premium of $4.10 per share, still at a premium to today’s price (nearly 2 months later).

* This article was originally published here

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