The rebound in the markets on Wednesday was a welcome boost to many investors, and it proved to be a great development for many stocks as well. Investors who look for value from among penny stocks could start tracking some of the stocks that moved on Wednesday. Here is a quick look at four penny stocks that managed to generate notable gains on Wednesday and could be tracked by investors at this point.
Are These Penny Stocks The Best Right Now to Trade #1 Marker Therapeutics
Marker Therapeutics (MRKR) is one of the penny stocks that made significant gains on Wednesday after the company confirmed orphan drug designation for one of its therapies. Marker announced that the United States Food and Drug Administration had granted orphan drug designation to its acute myeloid leukemia therapy. It is a major development for the company and represents a milestone that could propel Marker onto new heights in the years to come.
Investors predictably piled on to MRKR stock after the announcement was made yesterday, and the stock soared by as much as 20% this morning. It could be worthwhile to keep an eye on the Market stock in the coming days.
Are These Penny Stocks The Best Right Now to Trade #2 Orion Group
Investors might think that it may not be a good time to back penny stocks due to the volatility, but there are some stocks that might be too hard to ignore. One such penny stock is Orion Group (ORN), which soared by 26% in today’s session after it announced its financial results for the first fiscal quarter for 2020.
The company reported revenues of $166.6 million, which reflects a year on year rise of as much as 16.4%. On the other hand, Orion also posted a net income of $2.7 million or $0.9 per share for the quarter.
Are These Penny Stocks The Best Right Now to Trade #3 Helix Energy
While Orion managed to soar on the back of a stupendous performance in the first quarter, Helix Energy (HLX) managed to generate bigger gains despite having a mixed performance. The company generated losses of $0.14 per share in the first quarter, which was less than analysts’ estimates of $0.15 per share.
On the other hand, the revenues for the quarter came in at $181.02 million, which is significantly higher than prior year revenues of $166.82 million. HLX stock flew by 37% on Wednesday.
Are These Penny Stocks The Best Right Now to Trade #4 TherapeuticsMD
Another penny stock that could be tracked by investors at this point is that of TherapeuticsMD (TXMD), which rocketed on Wednesday after the company shared significant news about one of its products. The company managed to get a patent for its popular contraceptive product Annovera, and due to the added patent protection, the TherapeuticsMD stock flew.
TXMD stock soared by as much as 78% and has emerged as one of the penny stocks to follow this week.