Tuesday, April 23, 2024
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If you’re looking for penny stocks to buy this week, you should know the risks. These stocks typically trade for less than five dollars per share and have a market capitalization of less than $250 or $300 million. There is an inherent risk level increase for both volatility and manipulation. This is often because the amount of public information on the company isn’t readily available. Also, these companies tend to be much younger and are still going through their growth phase. This can also make them targets for scams, such as the pump and dump scheme famously depicted in the Martin Scorsese film, The Wolf of Wall Street.

3 Penny Stocks to Buy This Week

While many penny stocks do not trade on major market exchanges, the ones we’ll focus on today do. These three penny stocks have huge explosive return potential for this week and beyond.

3. Pineapple Energy Inc. (NASDAQ: PEGY)

After a horrible 2022, Pineapple Energy Inc. is finally showing some signs of life. That’s why it’s on our list of penny stocks to buy this week. Pineapple Energy Inc. (PEGY) is a provider of residential photovoltaic solar energy systems. Despite very little news regarding the stock, shares have risen more than 400% in the past five days alone. Pineapple Energy’s short interest has been dropping rapidly in recent months, which could be a big reason why the stock has seen short-term success. We’ll keep an eye on this one as more information develops.

2. Applied DNA Sciences, Inc. (NASDAQ: APDN)

Applied DNA Sciences (NASDAQ:APDN) have already jumped 55% today, following the company’s announcement that it received its largest single purchase order for LinearDNA, an alternative to the current manufacturing standard for DNA. APDN is definitely one of our top penny stocks to buy this week.

President and CEO, Dr. James A. Hayward said, “The application of DNA-based probes in molecular diagnostics is rapidly expanding to give the industry powerful new tools to enhance the diagnosis of infectious diseases, genetic disorders, and malignancies. Our proprietary enzymatic approach to manufacturing DNA via PCR underpins our ability to produce DNA more efficiently and rapidly relative to other DNA production methods and at scale. Applying this capacity also to the manufacture of therapeutic DNA for the next generation of genetic medicines, we believe LinearDNA sits at the intersection of two growing life sciences segments that hold the potential to transform human health.”

1. Immunic Inc (NASDAQ: IMUX)

Immunic is another one of our penny stocks to buy this week. The company specializes in clinical-stage biopharmaceutical development. They have a pipeline of selective oral immunology therapies that focus on treating chronic inflammatory and autoimmune diseases. Today, shares have climbed close to 50% after the company announced it was raising $60 Million in private placement financing. The company has agreed to sell almost 8.7 million shares at $4.35 each, which reflects a 10% premium on last Friday’s closing price. The financing is expected to close this Wednesday.

Penny Stocks to Buy This Week (10.10.22 – 10.14.22) – Closing Thoughts

You can invest in these top penny stocks just like any other company. But there are a few things you should consider before buying. Start with a risk level you feel comfortable with. This will help minimize your changes of huge losses. Next, decide on an amount to invest that you would feel comfortable losing. Decide if you want the investment to be short-term or long-term. This will be one of the more important factors in how you evaluate your trade.


Finally, check back often for more info on penny stocks to buy this week and other great investment opportunities. And to stay in the loop every day, you should consider signing up for one of our free newsletters. Just visit our best investment newsletters page and select a mailing that works for you. Start making smarter, more profitable investments today!

Ben Broadwater is the Director of Investment U. He has more than 15 years of content creation experience. He has worked and written for numerous companies in the financial publishing space, including Charles Street Research, The Oxford Club and now Investment U. When Ben isn’t busy running Investment U, you can usually find him with a pair of drumsticks or a guitar in his hand.

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