Penny stock investing may not be preferred by many new investors, but over the years it has proven to be highly lucrative, and hence, it could be worthwhile to take a closer look at these stocks. Despite the turmoil in the stock markets over the past few weeks, some penny stocks have managed to record gains. Here is a look at four penny stocks that could be tracked by investors at this point.
Hot Penny Stocks To Watch This Week #1 Lexicon Pharmaceuticals
One of the penny stocks that started the week with a bang was Lexicon Pharmaceuticals, Inc. (LXRX). The company announced its first-quarter financial results on Monday, and it proved to be an impressive performance from Lexicon. It beat analysts’ expectations for both the bottom line as well as the top line.
Revenues dropped by 13% to hit $8 million, but it managed to beat analysts’ estimates of $7 million. On the other hand, the losses for the period stood at $66.6 million, which worked out to $0.63 per share. Analysts expected losses of $0.69 per share. LXRX stock gained 12% on the back of the performance.
Hot Penny Stocks To Watch This Week #2 Ford Motor
Another penny stock that investors could consider tracking at this point is that of Ford Motor (F). The company is expected to release its financial results for the fiscal first quarter soon, and it seems that the stock gained in light of that. There may be optimism about the company’s performance in the first quarter, but investors remain cautious nonetheless.
Ford stock rose by 4.4% on Monday. Investors could do well to keep an eye on the Ford Motor stock in the coming days.
Hot Penny Stocks To Watch This Week #3 RTI Surgical Holdings
RTI Surgical Holdings (RTIX) was another major penny stock gainer on Monday, and it soared by as much as 47% on the back of a major announcement from the company. RTIX stock soared in pre-market trading after the company amended the terms of the sale with regards to its OEM business.
The move from RTI has given the company some extra time by way of which it can take care of its obligations regarding the deal. The deadline for closing the deal was extended from July 13 to August 31.
Hot Penny Stocks To Watch This Week #4 B2Gold
B2Gold (BTG) has emerged as another promising penny stock option in recent days. This past Tuesday, BTG stock rose by as much as 14%. One of the main factors behind the rise in B2Gold stock price is the continued rise in the price of gold, and there is an expectation among some that the price of gold could go beyond $1800 an ounce by the end of the year.
The company’s managed to hit a record 262632 ounce of gold in terms of production in the first quarter, while revenues hit a record $380 million. Investors could track this gold stock in light of gold price appreciation.