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Can You Make A Lot Of Money With Penny Stocks? 5 To Watch $EROS $FIT $BLPH $EKSO $SNNA

Penny stocks, like any investment, are designed to make money for investors. The amount of money, however, has a lot to do with the investment itself. Corporate structure, business plan, leadership, and other facets will drive or slow growth. In addition, certain market factors are something to consider too.

For example, let’s say you’re looking at a top marijuana penny stock to watch. The example company grows year-over-year, reports solid earnings, and even records profit. But as we’ve seen lately, the majority of the cannabis industry has fallen thanks to some of the top pot stock reporting not so great results.
Because of this, every cannabis name in the market took a hit. Though your thinking about why to buy this example pot stock was sound, it likely took a hit just like the rest of the sector.

But Are Penny Stocks Worth It?

This is a question that gets asked time and time again. If you ask some of the top trading groups online, they’ll likely be able to show you countless examples of money-making penny stocks.
Now, with this being said, it’s also important to understand that it isn’t all jelly beans and gumdrops. There are incredible amounts of risk involved with penny stocks. Like I said above, market factors play a big role in influencing the direction of penny stocks (and blue-chip stocks).

[Read More] 8 Penny Stocks That Became Billion Dollar Companies

In addition to that, these stocks are usually very thinly traded. What that means is the chances for manipulation can be greater than say, Facebook or Twitter. Keep this in mind because it’s one of the biggest reason penny stocks get such a bad rap. A few questionable characters have made it a goal to manipulate the prices of penny stocks.

A tell-tale sign of something like this could be overly hyped stocks on message boards, chatrooms or stock market forums. These “pump and dump” scenarios are never a good thing because they can leave investors holding worthless stock. So thorough due diligence is a must.

Penny Stocks To Watch

So when it comes to making a lot of money with penny stocks, there’s a lot to take into account. You’ll hear things like “follow the money,” which essentially suggests following the flow of momentum. Right now some of the most active sectors have been in tech and biopharma. With this in mind, we’re taking a look at a few penny stocks to watch during the tail end of the month.

Eros International Plc (EROS)

Many companies on the NYSE or NASDAQ tend to be from North America, but this company was founded in India. Eros International Plc (EROS Stock Report) is a leader in the Indian film entertainment industry by acquiring and distributing Indian language films. Through the company’s entertainment service, Eros Now, Eros has the digital rights for over 12,000 films.
The company recently announced that customers will be able to stream content in Dolby Vision and Dolby Atmos. This penny stock news brought in an influx of trading volume resulting in above-average volume on October 21st. Furthermore, the company’s stock price has increased by 14% thus far. Could it look to continue the move later in the week?

best penny stocks Eros International (EROS)
As you can see, EROS stock is no stranger to big moves. From late August to Mid-September, the stock skyrocketed to highs of $3.92. After coming back down quickly to lows of $1.25, the last few sessions have seen shares rebound.

But there is something to think about here. Considering shares pulled back below $1.80 later in the day, does that raise red flags or signal potential opportunities? Comment below.

Fitbit Inc. (FIT)

With technology and health trends consistently evolving, companies like Fitbit (FIT Stock Report) are looking to provide consumers with new products. The company is a technology company that sells products designed to help consumers with health and fitness.

These products include smartwatches and fitness trackers. If you’ve read PennyStocks.com articles for a while, you know how popular FIT stock is on platforms like Robinhood. In fact, this has been one of the most popular penny stocks on Robinhood since June.

best penny stocks robinhood Fitbit (FIT)
Fitbit has been on a roll for the last 4 trading sessions and has gained 4% on October 21st alone. Furthermore, FIT stock is up more than 40% since late August. This is thanks to the company announcing a partnership with Bristol-Myers Squibb-Pfizer Alliance.

This partnership will focus on the detection of atrial fibrillation through the use of Fitbit devices. In total, the stock has risen from $2.86 to $4.21 over the last few weeks.

Bellerophon Therapeutics Inc. (BLPH)

The next company on this list hails from the biotechnology sector. We know how popular biotech penny stocks have been this quarter so far. Bellerophon Therapeutics Inc. (BLPH Stock Report) is a biotherapeutics company that aims to treat cardiopulmonary diseases through its INOpulse platform. At the moment, the platform boasts 3 treatment plans that are all in phase 2 trials.

Unlike the other companies on this list, Bellerophon’s stock is thriving thanks to the anticipation of news. It’s not every day that a company will flat out say when they expect to have info on pivotal results. Biotechnology stocks are among the few who do though.

best penny stocks Bellerophon Therapeutics (BLPH)
The company is expected to present its phase 2b data for INOpulse at CHEST’s 2019 annual meeting. That’s slated for this coming Wednesday (October 23). Since October 16th, the biotech penny stock has risen nearly 17% thanks to heavy buying pressure.

Of course, speculation could play a role. However, with 2 days left before this proposed result, the markets continue to see an uptrend for BLPH stock. Could this be the top penny stock to watch this week if the results are favorable?

Ekso Bionics Holdings, Inc. (EKSO)

Toward the beginning of the year, Ekso Bionics Holdings (EKSO Stock Report) was one of the top penny stocks to watch. After opening the year at $1.25, we watched as shares rallied as high as $2.55. But since April, EKSO stock has had a rough go. That all came to a head after hitting fresh 52-week lows of $0.48 this month. But here’s the cool part: No news has been released.

What’s something I always talk about? Do research beyond headlines. Check for things like corporate filings, state filings, and what’s happening on social media. Tweets are now considered means of public information for investors. Sure enough, one of Ekso’s recent tweets may have been a catalyst for this latest surge.

EKSO penny stock Tweet
The company’s exoskeleton is FDA-cleared for stroke and spinal cord injury rehabilitation. This obviously puts a spotlight on companies like Ekso who are in the space. Thanks to the added attention, EKSO stock has been climbing. Ever since those 52-week lows, shares have jumped as much as 50% to highs of $0.72 this week.

Sienna Biopharmaceuticals Inc. (SNNA)

To wrap up this list, Sienna Biopharmaceuticals Inc. (SNNA Stock Report) holds a spot. The company is primarily focused on developing treatments for patients with skin diseases. Sienna is also pursuing treatment plans for the eyes and lungs. The company currently has 3 treatments undergoing clinical trials and 2 other treatments in pre-clinical trials.

This month the company filed a 510(K) submission with the FDA. It was for Sienna’s SNA-001, which targets hair removal. Specifically, SNA-001 is a pre-treatment to standard laser devices. This 501(K) will allow the company to commercially use SNA-001. Similar to EROS, SNNA stock is no stranger to big moves. In late September/early October, shares jumped 225% to highs of $0.3747 from $0.115.

best penny stocks Sienna Biopharmaceuticals (SNNA)
At the moment, Sienna’s stock is trading at $0.23 while its 52-week low $0.10. This is important to understand because some investors like to catch “falling knives” and predict when a bounce may happen. Since October 17, the stock has jumped 30%. Will it look for continuation if this is truly the start of an uptrend?

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