4 Famous Penny Stocks to Watch This Week

Investing in penny stocks can be tricky, but if one makes the right investment, then the rewards could prove to be enormous. Hence, investors are almost always on the lookout for the next big thing from among penny stocks. One of the best ways of going about it is by tracking those penny stocks which have recorded gains in recent times. Here is a look at 4 penny stocks that could be worth tracking at this point in time.

Famous Penny Stocks to Watch #1 Luby’s

One of the penny stocks that is all set to to record significant gains on Thursday is that of Texas-based cafeteria chain Luby’s (LUB). Late Thursday, it emerged that the company, which has drawn the ire of shareholders for its poor financial performance, has decided to sell off its assets and the restaurant business.

The company announced yesterday that it is looking to sell its assets and restaurant operations immediately. Luby’s intends to distribute some of the proceeds from the sale to its shareholders. The rest of it is going to help in paying off debts. The stock soared by as much as 70.23% in the pPre-market session on the back of the announcement.

Famous Penny Stocks to Watch #2 Kezar Life Sciences

On the other hand, investors could also consider having a look at the Kezar Life Sciences (KZR), which rallied made an important on Late Wednesday. The company announced the updated data from the Phase 1b part of the tolerability and safety (MISSION) test of its product KZR 616.

The medicine in question is meant for patients suffering from systemic lupus erythematosus. The results seemed to have been welcomed by the market, and the stock soared by as much as 80% in the pPre-market session. Investors could consider keeping an eye on the Kezar stock over the coming days.

Famous Penny Stocks to Watch #3 Remark Holding

Remark Holding (MARK) soared on Wednesday after the company had made a huge announcement earlier on in the week. On June 1, Remark Holdings announced that in partnership with Hanvon Technology, it has managed to land a major contract in China. The company revealed that in the first phase of the project that is going to last two years, Remark is going to generate $50 million in revenues.

The potential revenue from the second phase was not specified, but the company stated that a multi-year software license could earn ‘several million dollars’ for Remark. The stock gained 36% on Wednesday.

Famous Penny Stocks to Watch #4 XpressSpa Group

XpressSpa Group (XSPA) has been on a roll ever since the company announced that it signed a contract with JFK airport last month. Since then, the stock has rallied by as much as 150% and has been one of the more notable penny stock gainers during the period. The contract with JFK airport is in relation to providing COVID 19 testing locations.

About Travis Garlick 1752 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.