Buying penny stocks that make you money can be tricky at times. It doesn’t make it easier that there seems to be an endless amount of penny stocks to buy. This is why a list of penny stocks can be extremely beneficial to investors looking for strong, small-cap stocks. It can help an investor capture those lucrative profits that only trading penny stocks can provide.
In order to culminate a strong list of penny stocks, you should have a few requirements. These requirements include a strong trend, high volume, and penny stock news doesn’t hurt either. This will allow you to weed out a lot of irrelevant stocks that cloud the market. Here is a list of top penny stocks that could end up on your watchlist before the end of the month:
Top Penny Stocks #4: Avadel Pharmaceuticals plc (AVDL)
The first penny stock to watch is Avadel Pharmaceuticals plc (AVDL Stock Report). It’s a healthcare company that creates pharmaceutical products for overlooked medical needs. The company currently has 3 products out including Bloxiverz, Vazculep, and Akovaz and another in its pipeline called FT218. On September 23rd, Avadel’s stock soared over 50% accompanied by a surge of volume.
Thanks to strong penny stock news, AVDL stock was able to experience this gap up. The company announced that the FDA agreed to reduce the sample size for FT218’s Phase 3 trial. The reduction in sample size is very advantageous for the company. It will be able to cut an estimated 12 months off of the trial’s completion time. The study is expected to be done before Q2 in 2020.
Top Penny Stocks #3: Workhorse Group Inc. (WKHS)
The next company on the list is an auto company called Workhorse Group Inc (WKHS Stock Report). This company creates and sells battery-electric vehicles and aircraft. It currently has 4 products; 2 are automobiles, 1 is a drone, and the other is a helicopter. The company is attempting to expand upon a growing demand for cleaner transportation.
Personally, Workhorse Group has been on my watchlist for quite a while. The penny stock is one of the largest consistent growers in 2019. For reference, on April 15th WKHS stock was trading at $0.56. It’s now trading at $3.36. This movement was also coupled with a clear over-all increase in volume during that time span.
On September 23rd alone, the stock is up an additional 3.5% after increasing 6% on the trading session before. The stock has also been helped by attention from the US President. Check out “A Trump Tweet Sent This Penny Stock On A 239% Run.”
Top Penny Stocks #2: Alimera Sciences Inc. (ALIM)
The third company is another healthcare penny stock, Alimera Sciences Inc. (ALIM Stock Report). Alimera is a biopharmaceutical company that creates and sells prescription ophthalmic pharmaceuticals. The company’s primary drug is known as ILUVIEN and it is designed to treat diabetic macular edema.
On September 12th Alimera announced that it has expanded its distribution agreement with Horus Pharma. The expansion allows the company’s drug, ILUVIEN, to be marketed in Benelux countries. The news prompted this micro-cap stock to grow nearly 50%, growing from $0.36 to $0.55 thus far.
Top Penny Stocks #1: Fitbit Inc. (FIT)
One of the more well-known companies on this list of penny stocks is Fitbit Inc (FIT Stock Report). In case you don’t know what Fitbit is, it is a technology company that makes health and wellness products. Such products include smartwatches, scales, and fitness trackers.
It’s been one of the most popular penny stocks on Robinhood for months. This means that it has a consistent number of investors trading it on one of the largest penny stock trading platforms in the world. Almost a month ago, Fitbit launched its Fitbit Premium service to provide consumers with more advanced health and fitness reports.
Fitbit has had a bounce-back since August 1st. The tech penny stock dropped 18% that day and struggled to get above the $3.50 range. However, on September 6th, it broke that $3.50 resistance and has continued to move upwards. The stock is now currently trading at $4.22 and is up 3% so far on September 23rd.
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