Investing in penny stocks is often regarded as a tricky proposition for the simple reason that these stocks are highly volatile by nature. The wrong choice can often lead to big losses. Hence, it is necessary for investors to track stocks closely and keep abreast of all the latest news before deciding on a penny stock investment. On that note, here is a look at 4 penny stocks that could be put into watch lists by investors.
Best Penny Stocks To Watch #1 Party City Holdco
One of the penny stocks that made a major move this past Friday was that of Party City Holdco (PRTY). The party goods company announced on Friday that it could reach a deal with its bondholders that could reduce Party City’s debt by almost a quarter. It is expected to result in a capital raise of as much as $100 million.
The news proved was welcomed by the markets, and soon enough, the Party City stock surged considerably. It went up by as much as 25% on Friday. It remains to be seen how the stock performs in the coming days.
Best Penny Stocks To Watch #2 TuanChe
TuanChe (TC) was another penny stock that recorded significant gains on Friday and has emerged as one of the penny stocks that could be tracked by investors this week. There was no material news with regards to the company on Friday, but it should be noted that on June 5, the Chinese automotive marketplace had announced changes to its management.
Following the resignation of Troy Mao, Chenxi Yu has been appointed as the deputy CFO at TuanChe. Yu is currently serving as the financial controller at the company.
Best Penny Stocks To Watch #3 Kopin Corporation
On the other hand, those looking for a way into penny stocks could also consider having a closer look at Kopin Corporation (KOPN), which has had a steady rise over the course of the past month. The company, which is involved in the development of wearable technology, announced that its fully owned subsidiary, Forth Dimension Displays, successfully developed a Ferroelectric Liquid Crystal on Silicon display that can be used in extreme temperatures.
The announcement was made on June 4, but the Kopin stock has rallied by as much as 100% over the past month, and it could be worthwhile to keep an eye on it.
Best Penny Stocks To Watch #4 Sino-Global Shipping America
Lastly, it is Sino-Global Shipping America (SINO) that emerged as one of the notable movers among penny stocks this past week. Last week the company announced that it signed a two-year agreement with Mandarine Bulk Ltd, and the contract is going to add as much as $12 million to Sino-Global’s yearly revenues. The news fired up the stock last week, and it rallied by as much as 35% on the back of the announcement.