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Do Penny Stocks Work? 3 Up Big In October; 1 Over 980% $TNK $SPNV $CLSI

Take A Look At Some Penny Stocks That Broke Out Big

We’ve all heard about penny stocks at one point or another. Where many are skeptical at first if you really learn how to trade penny stocks, things change.  All-to-often, new traders or curious traders treat penny stocks like “get rich quick” schemes.
On the contrary, penny stocks, like all stocks, are an investment. Can you think of other things that are considered investments? Homes, classic cars, pieces of property, etc. can fall into this category.
Would you buy a random piece of property without looking into it first? For 99.9% of people reading, the likely answer is no.
And for the other 0.1%, if you found the holy grail of real estate picking, let me know. In any case, my point is that if you’re looking for penny stocks to buy, you should have a strategy. You should also base this strategy on your own research.

Penny Stocks To Watch

There are times where penny stocks can run rampant. This is a result of there being fewer shares in the market to meet growing demand. When this happens, even the thinnest traded stocks can become explosive winners. But as highlighted in this article, you need to make sure this is real volume and not just paper gains.

cheap penny stocks to watch
Once you determine that, it’s time to get down to business and really see why a penny stock is moving. Also, you should make a plan to figure out if this is a move than can continue or if it’s a move based on hype. The latter is much more difficult.

All the same, when it comes to penny stocks and how to make money with these cheap stocks, a plan is important. Let’s take a look at 3 penny stocks that have taken off in the last few weeks. Only one of these is a penny stock on Robinhood. The others are OTC penny stocks.

Penny Stocks To Watch #1:
Teekay Tankers (TNK) +90%

The first on this list of penny stocks is a familiar face. Teekay Tankers (TNK – Stock Report) was featured in the article, “3 Penny Stocks That Made New October Highs This Week.”In true fashion, TNK stock went even higher on Tuesday.  Shares reached highs of  $1.86 marking a move of 44% from the beginning of the month. It’s also important to note that TNK is up about 90% from mid-August.
So what triggered this multi-month move? A few things. First, positive earnings results helped during August. Into September, Teekay may have benefited from the general market move that shipping stocks had. Teekay is 1 of the world’s largest marine energy transporters. The company currently owns a fleet of over 100 ships responsible for transporting gas and other services.

best penny stocks October TNK

Penny Stocks To Watch #2:
Superior Energy Services (SPNV) +597%

This is one of the newer companies on our list of penny stocks. Superior Energy Services (SPNV – Stock Report) has been climbing since late September. What’s more interesting is that the penny stock has seen insider buying going on since September 27. Peter Kinnear, James Funk, and Westervelt T. Ballard collectively picked up roughly 800,000 shares at varying prices.  The company has a stock repurchase program in place of up to $15 million that expires next March.

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The story around Superior wasn’t great just a few weeks ago. The New Yor Stock Exchange determined it fitting to delist the company. SPRV currently resides on the OTCQX. To this, the company has publicly stated that it will “implement a number of options, including a reverse stock split, to cure the low price condition. The Company will appeal the NYSE’s decision.”
No matter the case, the penny stock has been swiftly rising. In fact, since the day of delisting (September 27) shares have rebound by as much as 597%. As the story develops, we’ll likely continue to update readers. The crazy part about this is that SPNV isn’t the biggest gaining penny stock on this list.

best penny stocks October SPNV

Penny Stocks To Watch #3:
Clancy Systems International, Inc. (CLSI) +983%

This was on the list of penny stocks to watch at the end of September. Clancy Systems International (CLSI – Stock Report) has rallied even higher since that article. Something to note is that on OTCMarkets it is still showing a “STOP” sign next to its symbol. This is indicative of a company that is late in its filings.
Basically Clancy hadn’t made public filings in quite some time. But at the end of September that all changed with 2 annual statements (10K) and 3 updated quarterly statements (10Q).

[Read More] Top 10 Penny Stocks On Robinhood To Watch For October 2019

Since these filings, the market for CLSI stock has been on fire. This week, shares marked new highs of $0.117. Though the company hasn’t had any formal announcements, this is a time to look at the recent filings. In the quarterly report ended June 30, 2019, we see a company without any revenue, only $14,400 in liabilities and roughly $2 million in assets.

The company has been around since 1984 and is in the business of parking ticket-writing systems. Documents also show Clancy handles Internet payment remittance. This will be an interesting story to follow, to say the least.

As of now, the company shows 800 million shares authorized and a little over 213 million outstanding. CLSI stock is up as much as 983% since September 25. Of note, it’s up nearly 300% from our initial update, “3 Penny Stocks To Watch With Big Volume; 1 Up 685% This Quarter.

best penny stocks october CLSI

* This article was originally published here

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