Penny stocks usually have higher levels of volatility compared to blue-chip stocks. This is what makes them so exciting to trade. Because of the volatility, trading penny stocks can bring investors massive profits within days or hours.
Basically, a win-win for any investor willing to put in the work. That means there is work to do here. You aren’t blindly shooting darts at a dartboard blindfolded.
One of the hardest parts about finding penny stocks to buy is the endless amount of these cheap stocks on the market. Financial articles like this one as well as things like stock screeners are meant to help traders weed out the unnecessary noise. Without further ado, here is a list of penny stocks having a very strong October thus far:
Penny Stocks To Buy For Under $4: Stage Stores Inc. (SSI)
The first company on this list of penny stocks is a retail company known as Stage Stores Inc. (SSI Stock Report). Stage Stores offers consumers name-brand clothes, makeup, shoes, and home goods across its 783 stores. The company also has a strong presence in e-commerce which is essential in a technologically advancing world.
Stage Stores has probably had the best October compared to other companies on this list. Since October 3rd, the company is up 35% on increasing volume and is approaching its 52-week high. This all came after Stage Stores announced that it had regained compliance with regarding NYSE minimum share price listing standards.
Penny Stocks To Buy For Under $4: Acasti Pharma Inc. (ACST)
Every penny stock trader loves a strong biotechnology stock that is riding a hot wave. Acasti Pharma Inc. (ACST Stock Report) is creating an effective absorbing omega-3 therapeutic to have a positive impact on cardiovascular disease risk. Its lead product candidate, CaPre, does just that. It targets hypertriglyceridemia, which affects around 1/3 of the US population.
Acasti’s stock has been riding a strong wave throughout October, gaining over 11% so far. I would attribute it to penny stock news the company released on September 30th and October 1st.
First, the company announced that it reached an additional Phase 3 milestone. It’s expected to report topline results for TRILOGY 1 on time. The second piece of news was that the company planning on presenting at the 2019 Cantor Fitzgerald Global Healthcare Conference. Will this remain a penny stock to buy in the fourth quarter?
Penny Stocks To Buy For Under $4: Workhorse Group Inc. (WKHS)
The final company on this list is Workhorse Group Inc. (WKHS Stock Report). Workhorse Group is an auto parts manufacturer, but they do not produce your typical combustion engine. The company actually creates battery-electric vehicles and aircraft.
This includes delivery vans, pickup trucks, copters, and drones. In order to make its products more efficient, the company developed a telematics performance monitoring system.
Thus far, Workhorse Group’s stock price has increased by 4.29% since October 1st. This gain primarily came from an announcement the company made on October 8th. Workhorse revealed that it is partnering with USOG to launch pilot programs for the drones to deliver medical supplies. This penny stock news prompted the stock to gap up and put in a 6.52% climb.
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