New investors are often discouraged from going into penny stocks due to the inherent volatility in those stocks. However, at the same time, it is important to recognize that if an investor does his research throughout and keeps an eye on the market, then it is possible for him to discover viable penny stock investments. Here is a look at 4 penny stocks that have made gains in recent days and could be worth tracking.
Penny Stocks are Hitting New highs #1 Celldex Therapeutics
One of the penny stocks to have generated significant gains on Wednesday is that of Celldex Therapeutics (CLDX). The stock gained as much as 60% on Wednesday and hit its 52 weeks high of $5.370 a share after the company announced promising data from the Phase 1 clinical trial of one of its products.
The product in question is a KIT inhibitor named CDX-0159, and it was tested on patients suffering from chronic spontaneous urticaria (hives) and chronic inducible urticaria. The data was promising, and that resulted in significant interest in the Celldex stock on Wednesday. Investors could do well to keep an eye on it today.
Penny Stocks are Hitting New highs #2 Inuvo
Inuvo Inc (INUV) is another penny stock that is likely to be on the radars of investors due to its impressive rally on Wednesday. The company, which is involved in the marketing technology space, announced that it has come up with a new product called IntentKey.
It can apparently identify the auto shoppers who have expressed an interest in having a contact-free shopping experience. The news was welcomed by market participants, and the stock rallied by as much as 55% to hit $1.11 a share.
Penny Stocks are Hitting New highs #2 FuelCell Energy
Hydrogen fuel cell maker FuelCell Energy (FCEL)saw its stock rally by as much as 29% on Wednesday and hit a fresh high of $3.42 a share. However, in this regard, it should be noted that there was no material news with regards to the company’s business that could have triggered such a rally.
Back in May, the company had announced that it had hit the notable milestone of having delivered 10 million megawatt-hours from its SourceFuel fuel cell platforms. It was a significant achievement for FuelCell and added another feather in the cap for the company.
Penny Stocks are Hitting New highs #4 Curis
Curis Inc (CRIS) emerged as another promising penny stock prospect on Wednesday after its stock soared by 39% and hit a 52 week high of as much as $3.59 a share. The rally came about after the company announced that the United States Food and Drug Administration cleared its New Drug Application for CL 8993.
The product in question is a monoclonal anti-VISTA antibody, and the company is aiming to commence Phase 1a/1b clinical trials at some point in the next six months.