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7 Penny Stocks Making A Comeback This Month; 2 Over 50% So Far $BE $NIO $YRCW $EROS $ACB $HLIX $ZVO

November Could Be A Turn-Around Month For Some Penny Stocks

One of the biggest attractions of trading penny stocks is the possibility of making profits in significant multiples if a stock moves in the right direction. In addition to that, since penny stocks generally trade below $5, the associated risk for an investor is not as great either.
However, it is also important to keep in mind that one needs to watch the market closely and do his research in order to discover such penny stocks that can generate handsome returns. On that note, here is a look at a few penny stocks that have made a comeback in November.

Best Penny Stocks To Watch #1 Bloom Energy (BE)

The first penny stock to include in the watch lists is that of Bloom Energy Corp (BE Stock Report). The stock soared by as much as 12%. However, at the same time, it should be noted that there has not been any news with regards to the company’s business that could have triggered such a rally. Analysts stated that the energy company has been under attack from short sellers for quite some time.

However, it is now believed that the same short-sellers have possibly gone into a panic with regards to their positions on the Boom Energy stock and hence, the stock price zoomed significantly all of a sudden. Investors should watch this stock very closely over the coming days.

Best Penny Stocks To Watch #2 Nio Inc. (NIO)  

Another stock that made significant gains on Monday was that of Chinese electric vehicle manufacturer Nio Inc (NIO Stock Report). The company has been in all sorts of trouble for much of 2019 and the stock has lost as much as 70% of its value in the year to date. However, the stock enjoyed a brief rally on Monday after revealing its delivery figures for the month of October.

The delivery numbers had already been impressive in September and in October, the company managed to improve on that by as much as 25.1%. In October, NIO delivered a total of 2526 vehicles and that resulted in a 12.50% rise in the stock on Monday. This likely helped carry momentum for the “Chinese Tesla” into November as NIO stock moved over 50% since November 1.

Best Penny Stocks To Watch #3 YRC Worldwide (YRCW)

The other stock that has been on a roll over the past week is that of YRC Worldwide Inc (YRCW Stock Report). The company released its financial results for the third quarter last Thursday and although it made a loss, the company managed to record a lower than expected loss.
On the other hand, YRC failed to meet revenue expectations as well. However, it seems that the fact that the company managed to record $0.14 loss per share as opposed to analyst’ estimates of $0.17 per share pushed the stock price up by 26% last week.

Best Penny Stocks To Watch #4: Eros International (EROS)

This one’s been one of the penny stocks to watch since August. When we first began covering Eros International (EROS Stock Report), shares traded at roughly $1.40. Since then we’ve watched as EROS stock jumped to highs of $3.92, pulled in to $1.27 and rallied again back to $2.56 this week.
What do they do? Well, if you’ve followed the entertainment space recently, you know about the latest trend in streaming entertainment. Netflix, Roku, Apple, HBO, and others are all jumping into the mix.

Eros focuses on content distribution in India. The company’s been buying up licensing rights and other assets along the way. This week the company announced a few things to take note of. First, it acquired international distribution rights to 4 Bollywood films.

Next, Eros pointed the market to its upcoming annual meeting. The date for this is set on December 20 in the British Isles. Also, keep it in the back of your head that Eros will be reporting second-quarter fiscal 2020 earnings on November 15th.  Is this latest rise a speculative move leading up to earnings?

Best Penny Stocks To Watch #5: Aurora Cannabis (ACB)

Beaten down pot stocks have been on the radar for the last 3 quarters. It’s been a tough year for the cannabis industry. Concerns of supply, bad products, scandals, and questionable management all contributed to the decline. Aurora Cannabis (ACB Stock Report) find itself as a victim to the overall trend as well. However, shares have slowly, yet steadily increased this month. It’s also one of the most popular penny stocks on Robinhood in November.

On November 1, ACB stock traded at $3.58 but has since made new highs of $3.84. One of the potential catalysts behind the move could have something to do with analysts covering the pot penny stock. Cantor Fitzgerald started coverage on the company with a “Neutral” rating. However, the firm also gave a price target of just over C$5 (C$5.10).

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Other news out of the cannabis industry made by Aphria Inc (APHA) has also become a boon to the sector. The marijuana stock announced that it doubled production capacity after it received a cultivation license for its Aphria Diamond site. Supply concerns persist across the industry so this may have become a high sign for onlookers to see that this may not be much of an issue as companies are starting to increase capacity.

Best Penny Stocks To Watch #6: Helix TCS (HLIX)

When you talk about beaten down penny stocks, you can’t ignore Helix TCS (HLIX Stock Report). At one point this year, HLIX stock traded as high as $3.30. This month it hit 52-week lows of $0.41. So why is it on this list of penny stocks?

Like we said in this pennystock article, 52-week levels can give investors a “high sign.” Or as we like to call it, a “hey how ya doing.” In any case, following the technical event, HLIX stock has rallied this month. Was it some huge deal news; not at all.

Speculation obviously plays a role in penny stocks and Helix’s announcement of its upcoming earnings date (November 14) seemed to do the trick for now. After the news came out, the company’s stock surged to highs of $0.82. Can this continue into earnings?

We’ll see what happens next but even this as the case, Helix is one of the few companies working to revolutionize the financial solutions side of the marijuana industry. So, as a pot penny stock, can it weather the storm that the cannabis industry has seen thus far?

Best Penny Stocks To Watch #7: Zovio Inc. (ZVO)

Not only has Zovio Inc. (ZVO Stock Report) had a great month so far, shares have climbed consistently since hitting 52-week lows a few weeks ago. Since that time, ZVO stock climbed 102%. In November alone, shares have rallied by as much as 38%.

Though the company came in with softer earnings than in its previous year, comments made by management seem to have resonated with the market. Andrew Clark, Founder, President and CEO of Zovio said, “In addition, our team has been focused on optimizing the profitability of our core business. While there has been a fair amount of uncertainty over the last year, Ashford has a great foundation for their future, and we are positioning Zovio to return to its historical solid profitability and cash flow in 2020.”

Will this be enough to keep the momentum going for the company in November? Regardless, ZVO continues higher so far this week.

* This article was originally published here

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