Header Ads

3 Penny Stocks To Trade On Friday? 1 Up Over 390% This Year $BE $MVIS $WKHS

These Penny Stocks Are Up This Quarter But Should You Trade Them Today?

Penny stock investing can be one of the most exciting experiences for an individual. Why? That’s simply due to the fact that there is the possibility of making substantial returns from relatively small investments. That being said, you need to conduct a lot of research before actually picking penny stocks to buy.

Penny stocks are well known for their volatility. So, the wrong choice can result in losses as well. In such a situation, the best method is to keep a close eye on the market and watch the latest movements. Where most people try to make money with penny stocks, full-time traders also focus on managing risk.

It sounds strange but when you break it down, if you manage risk well, you’ll likely make money consistently. That’s the ultimate goal. With this in mind, here is a look at three penny stocks worth watching after their latest moves.

Penny Stocks To Trade [or ignore]: Bloom Energy (BE)

best penny stocks to buy Bloom Energy (BE)
The first stock to put into the watch list is Bloom Energy Corp (BE Stock Report). BE stock has enjoyed a highly impressive rally in November. The stock has jumped by as much as 118% in November so far. On Thursday the penny stock jumped by 12% after the company submitted its 10Q statement. The details completely altered the views about the company’s Q3 2019 results.
Bloom Energy’s statement revealed that the company has a positive free cash flow. More importantly, it had positive free cash flow in the previous quarter as well. For the quarter it amounted to $19.4 million and the rally in the stock was not entirely surprising. On top of this, the company also brought on new, high profile board members. Michael Boskin from Stanford and the former GE CEO Jeff Immelt now join the Board of Directors of Bloom.

KR Sridhar, Founder, Chairman, and CEO of Bloom Energy commented, “Jeff and Michael are both amazing leaders with strong global energy experience and they will add important perspectives on the Board. Michael has been involved in numerous major economic policy issues and has deep governance and oversight expertise through his service on several public company boards. Jeff brings significant knowledge of the global power markets and deep customer connections, as well as invaluable experience as a transformational leader of a Fortune 500 company.”

Penny Stocks To Trade [or ignore]: Microvision (MVIS)

penny stocks to watch Microvision (MVIS)
The other penny stock that managed to record significant gains was Microvision, Inc. (MVIS Stock Report). Last week the company released its third-quarter financial result and its loss of $0.05 per share managed to beat analysts’ estimate of $0.06 per share.
That proved to be a surprise for investors as the company managed to beat expectations by as much as 16.67%. It should be noted that the MicroVision has managed to surpass EPS estimates in two of the last four quarters. On Thursday the stock rallied by as much as 31.50%.
“Production unit shipments for our April 2017 contract customer began in the third quarter and continue to proceed smoothly, meeting our customer’s production schedule. Our activities related to our interactive display solutions resulted in a major step forward during the past few months as customer due diligence work has now led to negotiations for a component purchase agreement that we aim to complete this quarter for a targeted launch of our interactive display module in 2020.”
Perry Mulligan, MicroVision’s Chief Executive Officer
But this wasn’t the first big move for MVIS stock. Shares have become increasingly more bullish starting in early October. In fact, since October 3, shares of Microvision have jumped by as much as 72% following highs of over $1 this week.

Penny Stocks To Trade [or ignore]: Workhorse Group (WKHS)

penny stocks to watch Workhorse (WKHS)
The last penny stock to consider here is Workhorse Group Inc (WKHS Stock Report). WKHS stock made significant gains on Wednesday. The electric delivery vehicle manufacturer made a significant announcement on Wednesday and that resulted in a 13% rally in the stock.

The company announced that it has roped in EnerDel as the battery supplier for its delivery vehicles. Specifically, Workhorse placed its first order for 5,200 EnerDel Vigor+ battery packs. These will be used in the production of its growing backlog of C-Series customer orders.

The news is a significant one since it indicates that the company could soon start producing vehicles. Workhorse continues to hold a spotlight throughout 2019. Earlier this year it was the beneficiary of a simple Trump tweet that sent shares of the penny stock soaring. WKHS stock started 2019 off at $0.57 and saw highs of over $5.30. Though shares have retreated from this year’s high, WKHS stock is still up nearly 400% year to date.

* This article was originally published here