Header Ads

5 Penny Stocks To Buy For Under $2 Right Now

These Penny Stocks Can Be Bought For Under $2 Right Now

With the uncertainty surrounding the overall markets due to the first impeachment testimony, penny stocks could catch some attention. First, if you do not know what a penny stock is, it’s any equity that is trading below $5. This allows investors with even the smallest portfolio sizes to get in the market and make some money.

Trading penny stocks can bring a large amount of profit in a very short period of time if you invest wisely. This means you are keeping up with market and company news as well as researching companies before putting your money into them. If you are new to penny stocks, I would consider paper trading first to develop your trading strategies.
But the ultimate question: Why are penny stocks catching attention now? Simply put, volatility. When broader markets become volatile, some find no reason NOT to look at cheap stocks. Sure, they carry more risk and but they also can offer up big rewards when traded correctly.

Are Penny Stocks A Buy Or Sell Right Now?

If you look at several of the small and micro-cap ETF’s out there, you’ll quickly see that they’ve outpaced the larger markets since early October. That also means we’re starting to see a lot more attention on these cheaper stocks.
But don’t go out there and fly blind just because everyone else is doing it. Set up a real strategy so you can make sure you’ve got the best shot at making money with such penny stocks. Here is a list of penny stocks to watch on November 13th:

Penny Stocks To Buy For Under $2: FuelCell Energy Inc. (FCEL)

Kicking things off is an energy company that provides clean energy in a world shifting away from fossil fuels. FuelCell Energy Inc. (FCEL Stock Report) delivers clean and efficient fuel cell solutions for its customers. The company offers its product known as SureSource in 3 different varieties based on its power production.

I know we’ve talked about this penny stock in the past and it has been a big winner for many. Last week we talked about it in, “3 Penny Stocks Soaring This Week: Time to Buy Or Sell?” Since that was published, FCEL stock has jumped from around $0.45 to highs of $0.90 on Wednesday. Volume has also continued to trend hotter over that period.

This stock has been on an absolute tear over the last 5 trading sessions, and November 13th is no exception. The company’s stock price skyrocketed 60% on 4 times the average trading volume. The gains that FuelCell is experiencing is courtesy of some penny stock news.

First, the company announced a $200 million loan facility with Orion Energy Partners. In addition, FuelCell expanded its development agreement with ExxonMobil to further enhance carbon capture technology.

penny stocks to buy under $2 FuelCell Energy (FCEL)

Penny Stocks To Buy For Under $2: BioCryst Pharmaceuticals Inc. (BCRX)

This next company hails from the biopharmaceutical industry. BioCryst Pharmaceuticals Inc. (BCRX Stock Report) is a biotechnology company developing treatments for unmet medical needs of rare and serious diseases. BioCryst has an advantage on other companies in this industry as it already has a treatment on the market. The company sells RAPIVAB to treat acute uncomplicated influenza.
Unlike the other companies on this list of penny stocks, BCRX stock price has been absolutely hammered over the last year. The company’s stock hit a new 52-week low of 1.51 during November 13th’s trading session. These new lows are catching investors’ eyes due to the $7.57 average analyst price target for the penny stock. BioCryst recently announced that it is having a public offering of $55 million worth of common stock.

Obviously, in this case, $55 million is nothing to scoff at. And though it could lead to a dilution in the short term, a raise of that size could help the company grow. If you read through the short press release you can quickly see its planned use of net proceeds from the offering:
“BioCryst expects to use the net proceeds of this offering for general corporate purposes, which may include, but are not limited to:”
  • Worldwide development, manufacturing, regulatory and commercial activities for the prophylactic BCX7353 program, primarily focusing on the U.S., EU and Japan ;
  • Development of the BCX9930 program; development of the BCX9250 program;
  • Post-approval commitments for RAPIVAB®/ALPIVAB™;
  • Funding clinical development of pipeline assets; and
  • Capital expenditures and other general corporate expenses.

penny stocks to buy for under $2 Biocryst Pharmaceuticals (BCRX)

Penny Stocks To Buy For Under $2: DelMar Pharmaceuticals Inc. (DMPI)

The next company on this list is DelMar Pharmaceuticals Inc. (DMPI Stock Report). DelMar Pharmaceuticals is a biotechnology company that is focused on creating novel cancer therapies for patients that do not benefit from current treatments. At the moment, the company has 4 anti-cancer compounds in its clinical pipeline.

Over the last 31 days of trading, DelMar’s stock has risen all the way from $0.402 to $0.86 on November 13th. This move equates to a 114% increase. In addition to this strong price action, the company has traded with double its average trading volume. The biotech penny stock is holding its move so far as we head into the second half of the week.

On top of that, anyone reading this will be familiar with this company. We originally wrote about it in mid-October in, “4 Penny Stocks To Watch Now; 1 Up 248% This Year.” It’s safe to say that things have gone well since that time. Can DMPI stock continue this trend into the end of the month?

penny stocks to buy for under $2 Delmar Pharmaceuticals (DMPI)

Penny Stocks To Buy For Under $2: Urban Tea (MYT)

Another significant gainer among penny stocks in recent days has been Urban Tea Inc (MYT Stock Report). It gained by as much as 95% following the acquisition of a 51% stake in Chinese tea company Hunan 39 Pu Tea. On top of that MYT stock got another massive boost on Tuesday & Wednesday.

On Tuesday, it emerged that Urban Tea had successfully become compliant with NASDAQ’s listing requirements once again. The company managed to fulfill the criteria with regards to Minimum Stockholders’ Equity Requirement and that saw the stock soaring by as much as 12% on Tuesday.
Following this, things got even more exciting with another announcement on Wednesday. Urban Tea is opening its first store in New York. The planned opening is set for “early 2020,” so we’ll see how things progress. In any case, this was one of the top penny stocks to watch under $2 at the end of last week. It continues to remain one heading into the second half of this week too.

penny stocks to buy for under $2 Urban Tea (MYT)

Penny Stocks To Buy For Under $2: Forum Energy Technologies Inc. (FET)

Similar to Biocryst mentioned above, Forum Energy Technologies (FET Stock Report) also hit fresh 52-week lows this week. We’ve discussed in several articles on how 52-week levels can be important. In the case of FET stock, shares hit those lows of $0.99 and promptly reversed closing out the session at the high of the day, $1.09.

It’s important to mention that this company provides equipment for oil and gas drilling so the sector could play a role in its recent price action. Furthermore, FET shareholders may have had a tough time swallowing its recent earnings results. Even though it beat on earnings per share, it failed to wow analysts with its revenues for the quarter.

Nonetheless, it’s important to note that shares of FET rallied heavily during the tail end of Wednesday’s trading session. What could this signal? Obviously time will tell and eyes are focused on the oil and gas sector for its next move.

penny stocks to buy for under $2 Forum Energy Technologies (FET)

Should I Buy Penny Stocks?

Obviously, if you’re new to trading, there are plenty of things out there that may interest you. Penny stocks tend to be one of them. For starters, the barriers to entry are low in the sense that a small amount of money can get you thousands or even millions of shares of a certain stock. Furthermore, since prices are so low, small movement equates to big percentage changes. This can go in either direction.

The main thing that helps new traders determine if penny stocks are right for them has a lot to do with risk. You shouldn’t treat any investment like the lottery. But when it comes to penny stocks to buy, it’s prudent to start with money you can afford to lose. For some, that’s $100 and for others, that may be $10,000. In any case, it’s all relative to your personal risk tolerance and openness to manage it.
This article is about a list of penny stocks that can be bought for under $2 right now. We are giving this information specifically to point on certain stocks based on current prices and it’s not a suggestion to buy or sell. That choice is up to you. What we can do, however, is help you get started by learning more about small-cap and micro-cap stocks.

The post 5 Penny Stocks To Buy For Under $2 Right Now appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.

* This article was originally published here

No comments