Jan 27, 2020 (Penny Stocks via COMTEX) -- If you’re reading this penny stocks article right now, you likely saw the hit that the broader markets took over the weekend. Last week the S&P 500 declined significantly following more bad news from the spread of coronavirus into the US. In addition to that, the U.S. Presidential impeachment trials steamed ahead.
That added yet another layer of uncertainty to things. The point of mentioning this is that all cases have created more volatility in the market. As we’ve seen plenty o times in the past, this volatility has created opportunities to capture significant gains.
Penny stocks, in particular, love market environments like this. It’s no secret that cheap stocks are well-known for volatility of their own. But when the mainstream markets start getting volatile, it tends to push interest to small-cap & micro-cap stocks. So, are penny stocks part of your strategy right now?
Though these aren’t for everyone, if you like risk or have a piece of your portfolio dedicated to high risk, penny stocks may be a good place to focus. As many call it, the “wild west” of the stock market is alive and well. Over the first few weeks of the year, we’ve already seen huge moves made by many of these low priced stocks. But how do you find the best penny stocks to buy?
One of the ways of going about it is by watching the market closely and keeping an eye on the latest movements. Look at different sector moves – both bullish and bearish – to determine what types of stocks you may want to look for or avoid. On that note, here is a look at 5 penny stock that could be tracked at this point. Some of them have already seen epic moves in the market so far this year.
The first company on this list of penny stocks that generated gains last week is Community Health Systems ( CYH – Stock Report ). Shares rallied by as much as 6% after the company released its earnings for the year. Community Health announced that for the full year in 2019, it generated estimated revenues to the tune of $12.8 billion.
It reflected a year on year rise of as much as $500 million if only the 101 hospitals it owned in the previous year and this year are considered. The debt-ridden company also announced that it is going to raise as much as $1.02 billion through secured notes.
It’s important to note that the company hasn’t set a formal earnings call date for its 2019 results. However, at the J.P. Morgan Healthcare conference CEO Wayne Smith said that its consolidation efforts have started to pay off. "The most significant thing, I think, that's happened to us as we've worked on this over the last few years, is now we are not a non-urban or rural company anymore," Smith said. Since January 10, CYH stock has climbed by more than 89% after hitting highs of $4.59 this week.
Casa Systems ( CASA – Stock Report ) saw a big week last week that came to a close after one of the biggest trading days in company history. This past Friday, the company raised its projections for the revenues for the full year 2019. Earlier, Casa had projected that its revenues were going to be in the $255 million to $270 million range. However, on Friday, the company raised it to $275 million to $280 million.
The company will discuss more on this during the last half of February. On the 20th, the company will go over its Q4 and full-year 2019 financial results. The company is involved in one of the hotbeds of tech right now. Casa delivers broadband service tech to give access to wireless, cable, and fixed network providers.
The company serves more than 475 regional service providers across the world with commercial deployment in over 70 countries. Thanks to this positive update, CASA stock jumped to highs of $4.84 last Friday, which carried through into the new week with highs of $4.85 before the opening bell on January 27.
Another one of the penny stocks that could be considered by investors at this point is that of Agile Therapeutics ( AGRX – Stock Report ). The stock has performed remarkably well in recent times, and over the past three months, AGRX stock has rallied by as much as 923%. Recently, the stock surged by 8.77% and managed to hit its 52-week high of $3.58.
Back in October, the company's product Twirla got the backing of the advisory committee of the United States Food and Drug Administration. This saw shares move from $0.35 to $2.97 within a matter of 6 trading sessions. After pulling back in mid-November, shares have been back in an uptrend ever since.