Over the years, many investors have managed to generate enormous returns through clever penny stock investments. However, these are tough times in the market, and it is important for traders to be careful about the sort of penny stocks they invest in. The best way of going about it is by keeping track of the latest gainers in the market and then make of move if possible. He
re is a look at 4 penny stocks that could be worth tracking.
Best Penny Stocks to Watch This Week #1 MoneyGram
One of the penny stocks to have made a major move in pre-market trading on Tuesday is that of money transfer giant MoneyGram (MGI). As per a report from Bloomberg, its rival Western Union is looking to acquire MoneyGram, and an offer has been made. It would create a money transfer behemoth, and the news was well-received by market participants.
The MoneyGram stock rallied by as much as 48% in pre-market trading and has emerged as a major penny stock gainer. A source said that no decision has yet been reached regarding the matter, and Western Union could pull out as well.
Best Penny Stocks to Watch This Week 2 Tetraphase Pharmaceuticals
Investors looking for penny stocks could also consider having a look at Tetraphase Pharmaceuticals (TTPH), which gained as much as 8% on Monday. Yesterday, AcelRx Pharmaceuticals sent in a revised bid for the acquisition of Tetraphase.
The new bid, which is in cash and stock, works out to around $1.70 per Tetraphase share, and that is significantly more than the $1.52 per share bid from Melinta Therapeutics. The news resulted in a lot of positivity around TTPH stock, and it remains to be seen if it can add to its gains today.
Best Penny Stocks to Watch This Week #3 Voxeljet
Voxeljet (VJET) emerged as another major penny stock gainer on Monday, and it is likely to be on the radars of investors this week. On Monday, it was announced that the European Investment Bank has decided to expand its relationship with Voxeljet AG.
The two entities will now be involved in a range of projects, including 3D printing series production. Five million Euros is also going to be disbursed this month. VJET stock rose by as much as 22% on the back of the developments.
Best Penny Stocks to Watch This Week #4 SM Energy
When a penny stock rockets by as much as 17% in one day, it is perhaps important for investors to take a look at the developments. SM Energy (SM) is a natural gas and onshore oil driller, and on Monday, the company announced that it had reached a debt exchange agreement with some of its lenders.
The company ended the first fiscal quarter with a debt to equity ratio of 1.15, and hence, this development has come as a major boost.