Penny stock investment can be one of the most exciting things considering the possibility of making significant returns within a short span of time. However, only a few penny stocks can generate such returns, and hence, investors need to be careful about the sort of stocks they choose to invest in. In recent days, some penny stocks have emerged that could be of interest to investors, and here is a quick look at four of those stocks.
Hot Penny Stocks To Watch #1 Nine Energy Service
Nine Energy Service (NINE) made significant gains on Thursday and has emerged as one of the penny stocks to track at this point in time. There had been a certain degree of uncertainty around the stock with regards to its continued listing on the New York Stock Exchange.
However, last week, the company announced that in a letter dated April 21, 2020, the NYSE indicated that the Nine Energy stock price had fallen below $1 per, on average, over 30 trading days. The company has been given six months, within which it has to regain compliance. NINE stock rallied by 53% on Thursday.
Hot Penny Stocks To Watch #2 Plug Power
On the other hand, Plug Power (PLUG) could also be an interesting proposition for investors who are looking for promising penny stocks. While the market has been in turmoil, Plug Power has been among the select stocks that have actually been able to make gains. In the month of April, PLUG stock gained as much as 31%.
The hydrogen fuel cell company has attracted a lot of bulls in recent months. The premise rests on the simple fact that unlike in the past, hydrogen fuel cells are now much safer and gaining popularity. Investors could consider tracking this stock in the coming days.
Hot Penny Stocks To Watch #3 ViewRay
Penny stocks may often be a risky proposition, but when there is a fundamental reason behind a stock’s gains, it could be prudent to take a closer look. ViewRay (VRAY) released its financial results on Thursday, and although the revenue of $14.3 million was lower than the prior-year revenue of $20.3 million, certain things need to be kept in mind.
In 2019, the revenues came from four units, while this year, it came from 4 units. Additionally, it announced that it had cash and cash equivalents of $190.2 million. VRAY stock gained 8% on the back of the announcement.
Hot Penny Stocks To Watch #4 Creative Realities
Creative Realities Inc (CREX) has been one of the biggest movers from among penny stocks this week. Earlier on in the week, the company announced the launch of artificial intelligence-powered temperature checking kiosk known as the ‘Thermal Mirror.’
The product in question could help businesses in reopening following the coronavirus pandemic induced lockdowns. The stock soared by as much as 300% this Tuesday, and yesterday, it continued to clock gains. On Thursday, CREX stock gained 19%.