Penny stocks have long been regarded as a favorite of investors who look for value in the markets, and more often than not, it is necessary to conduct a lot of research. In this regard, it should be noted that due to the present volatility in the market, investors need to be doubly careful with their choices. Here is a look at 5 penny stocks that could be worth tracking at this point.
Popular Penny Stocks to Watch in May#1 Medigus
One of the penny stocks that recorded significant gains this past Friday was that of Medigus Ltd (MDGS). The company had been in the news after having signed an agreement with L1 Systems Ltd with regards to the commercialization of coronavirus related products. On Friday, it announced that it got its first order for coronavirus testing kits.
It is a significant development for Medigus and marks a major milestone in its collaboration with L1 Systems. The market recognized the significant as well, and MDGS stock flew by as much as 53% on Friday.
Popular Penny Stocks to Watch in May#2 MicroVision
Among the penny stocks that managed to record gains on Friday, MicroVision (MVIS) is a particularly interesting case. Back on April 9, it had received a letter from NASDAQ regarding the non-compliance with one of the rules. In the letter, it was revealed that the market value of its listed stock over a period of 30 consecutive trading days had gone below the minimum threshold of $50,000,000.
MicroVision has until October 5 this year within which to regain compliance, or it will be delisted. However, MVIS stock actually rallied and gained as much as 100% since then. On Friday, it gained a further 27%, and it is likely that it might on investors’ radars this week.
Popular Penny Stocks to Watch in May#3 US Silica Holdings
US Silica Holdings (SLCA) could be another promising option for investors who are looking to invest in penny stocks. This past Thursday, the company released its financial results for the first quarter. It generated earnings per share of $0.43 per share and managed to record a year on year rise of as much as 62.50%.
On the other hand, the revenues for the period stood at $269,599,000, and that reflected a decline of as much as 28.82% on year on year basis. The company did not announce its projections with regard to revenue or earnings either. SLCA stock soared by 22% on Friday.
Popular Penny Stocks to Watch in May#4 Ritter Pharmaceuticals
There was another company which saw its shares soar after it announced its financial results for the 1st quarter. The company in question is Ritter Pharmaceuticals (RTTR), and it is expected to be on investors’ radars today. The company made a net loss of $1.7 million for the quarter ended March 31, which worked out to $.05 a share.
The net losses for the quarter stood at $56000, and it is a marked improvement from the $146000 net loss it made in the year-ago period. RTTR stock gained 17% after the announcement.
Popular Penny Stocks to Watch in May#5 RiceBran
Sometimes investors might also consider tracking that penny stock, which might have made impressive gains over a sustained period, and that brings us to RiceBran (RIBT).
Earlier on in April, the company announced that it managed to get a loan worth $1.8 million towards Payroll Protection Program under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This proved to be a strong trigger, and RIBT stock flew by 40% over the past two weeks.