Investors who look for value in the markets are almost always on the lookout for the next big things when it comes to penny stocks, and it goes without saying that a lot of research needs to be involved in order to discover these stocks. One way of going about it is by tracking those penny stocks which have recorded gains in recent times. Here is a quick look at the 5 penny stocks that recorded gains on Monday.
Best Penny Stocks to Buy This Week #1 MicroVision
One of the penny stocks that could be tracked by investors at this point is that of MicroVision (MVIS). There was no material news with regards to the company that could have triggered the strong rally on the stock. However, it soared after online speculation about the possibility of MicroVision being taken over by tech giant Microsoft.
It goes without saying that speculation of that nature can often lead to massive rallied, and that is what happened with MVIS stock. The stock soared by as much as 105% on Monday.
Best Penny Stocks to Buy This Week #2 Retractable Technologies
Those looking to invest in penny stocks could also consider putting Retractable Technologies (RVP) in their watch lists in light of the rally enjoyed by the stock on Monday. Back on May 1, the company got additional orders for automated retraction safety syringes from HHS.
The company already had a contract in place with HHS, and it is undoubtedly a significant development for Retractable Technologies. On Monday, investors piled on to RVP stock on the back of the development, and the stock soared by as much as 70%.
Best Penny Stocks to Buy This Week #3 Waitr Holdings
Waitr Holdings (WTRH) is another interesting proposition from among penny stocks and particularly so after the stock rallied strongly on Monday. There was no specific news with regards to the company, but it should be noted that back in April, the company had announced its financial results for the first quarter.
At the time, Waitr had reported revenues of $44 million. WTRH stock gained 31% on Monday, and it could be worthwhile for investors to keep an eye on it.
Best Penny Stocks to Buy This Week #4 Aqua Metals
Receipt of payments can often be a boost to companies and especially so when the payments relate to insurance. Aqua Metals (AQMS) soared on Monday after it emerged that the company received $2.5 million in additional insurance payments. The total insurance payment it has received thus far has now gone up to $12.5 million. AQMS stock rallied by as much as 21% on the back of the receipt.
Best Penny Stocks to Buy This Week #5 Renren
Renren Inc (RENN) is another one that went up significantly on Monday and has emerged as one of the penny stocks to watch at this point. RENN stock soared by as much as 47% on Monday, and it must have come as a major boost considering the fact that it had received a non-compliance letter from the NYSE in April.
The letter had indicated that Renren is non-compliant since the price of its depository shares had gone below the threshold.