Over the course of this week, plenty of penny stocks have managed to record significant gains, and it is important for investors to keep an eye on these stocks. Penny stocks have the potential of generating significant short term profits, and hence, investors need to track the markets closely in order to discover the stocks which have made strong moves. Here is a quick look at 5 penny stocks that generated gains on Friday and could be tracked by investors.
Penny Stocks Making Key Headlines This Week #1 Waitr Holdings
Waitr Holdings (WTRH) is one of the companies which seemed to have done brisk business due to the lockdowns brought about by the coronavirus pandemic. On Thursday, the company revealed in its first-quarter earnings statement that its deliveries for the month of April are all set to hit the levels that had been hit prior to the coronavirus crisis.
The company noted that the orders started rebounding towards the end of March and managed to continue in the same vein in April. It is a major boost for the company, and it was reflected in the rally in its stock as well. The Waitr stock gained as much as 45% on Wednesday.
Penny Stocks Making Key Headlines This Week #2 Therapix Biosciences
The appointment of key personnel to a company’s board of directors can often have a positive effect on a stock, and that is what happened with Therapix Biosciences Ltd (TRPX) on Thursday. The company, which is involved in creating CBD based treatments, announced on Thursday that Prof. Ari Shamiss had been inducted into its board.
Shamiss is going to step down from his position as the Chief Executive Officer of Assuta Medical Centers, and it goes without saying that it is a significant coup for Therapix. After the announcement was made, the stock rallied by as much as 37%.
Penny Stocks Making Key Headlines This Week #3 Vuzix Corporation
Another penny stock that could be worth watching closely at this point is Vuzix Corporation (VUZI). The company is involved in augmented reality and also manufactures smart glasses. In a new development on Thursday, the company announced that it is going to provide Zoom Healthcare support to its customers.
By way of this collaboration, Vuzix customers would be able to connect to mentors or support teams remotely. It is a significant step, considering the fact that social distancing norms are still being maintained. The Vuzix stock soared by 26% following the announcement.
Penny Stocks Making Key Headlines This Week #4 Riot Blockchain
Riot Blockchain (RIOT) is one of the rare examples of a publicly listed cryptocurrency company, and on Thursday, its stock soared by as much as 21% after the company made a major announcement.
Riot announced that it is going to spend $1.9 million on Bitmain S19 (95 TH) Antminers. On top of that, Bitcoin continued to rally, and today, it hit the coveted $10,000 mark. In such a situation, Riot could well be in focus among investors.