While a record-long bull market has been great for investors, it also means stocks are getting too expensive.
That’s why we’ve put together the 10 top penny stocks to watch this week.
You see, at under $5 a share, penny stocks can return staggering gains in response to even minor price movement.
Just look at last week’s big winner, OncoCyte Corp. (NYSE: OCX). The stock surged nearly 160% in less than a week, and it still trades for just $4.98 a share.
However, investors have to sort through the over 2,800 penny stocks trading on the market today to find one worth buying.
Luckily, we’ve already identified the penny stocks with this kind of growth potential using the Money Morning Stock VQScore™.
The VQScore system ranks the most profitable companies on the market by their growth potential, and then we use it to screen the best penny stocks you can buy today.
In fact, it uncovered one stock that could soar 233%.
After looking at last week’s top penny stocks, we’ll show you the top penny stock to buy this week.
Here are last week’s top-performing penny stocks:
|Penny Stock||Sector||Current Share Price||Last Week’s Gain|
|OncoCyte Corp. (NYSE: OCX)||Healthcare||$4.98||159.38%|
|Fortress Biotech (NASDAQ: FBIO)||Healthcare||$2.47||133.02%|
|Trevena Inc. (NASDAQ: TRVN)||Healthcare||$1.01||86.69%|
|Celldex Therapeutics Inc. (NASDAQ: CLDX)||Healthcare||$0.58||66.82%|
|Wheeler Real Estate Investment Trust Inc.(NASDAQ: WHLR)||Financial||$1.80||63.64%|
|Scynexis Inc. (NASDAQ: SCYX)||Healthcare||$1.13||53.64%|
|Eldorado Gold Corp. (NYSE: EGO)||Basic Materials||$3.98||47.96%|
|Novus Therapeutics Inc. (NASDAQ: NVUS)||Healthcare||$4.15||43.60%|
|PHI Inc. (NASDAQ: PHII)||Services||$4.50||42.14%|
|BioTime Inc. (NYSE: BTX)||Healthcare||$1.33||41.50%|
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As we can see from last week’s top-performing penny stocks, there’s still plenty of upside left to find in this market.
That’s why we’re so excited about our top penny stock to buy this week.
It’s an energy company sitting on some of the nation’s largest natural gas reserves, and it’s set to make a killing off of rising prices.
In fact, it could nearly quadruple your money. And it’s only trading for $3.50 a share…
The Best Penny Stock to Buy Right Now
Laredo Petroleum Inc. (NYSE: LPI) is a natural gas and petroleum production firm based in Tulsa, Okla.
Founded in 2006, Laredo currently manages reserves in Texas’ Permian Basin, equaling 215 million barrels of oil, 62% of which is natural gas.
Unlike most drilling firms, Laredo uses a drilling method known as the mechanical earth model, which uses data analysis of the earth’s geological makeup to identify the best drilling locations.
According to Laredo, this method dramatically increases the efficiency of the company’s drilling operations, saving energy and cutting costs.
The company nearly doubled its LNG sales last year, and it grew oil sales by 39%.
This is certainly evident in the company’s revenue. Laredo has increased its gross income by a robust 79% and now rakes in a net profit of $549 million.
Plus, the company is deploying its capital effectively. Laredo currently maintains a staggering 85% return on equity – that’s 83% higher than the industry average of 1.97.
According to analysts, Laredo’s share price could jump to $14.
That’s a 260% increase over Laredo’s current share price of $3.88 – a massive gain for shareholders. That’s no surprise either. With a perfect VQScore of 4, this stock could break out in a big way.
Stocks with the potential to more than triple your money don’t come along every day, but with the right research, you can find these gems.
If you want to continue to lock in these kinds of returns from little-known stocks, then you have to check this out…
This Secret System Endlessly Searches for Small Stocks Ready to Explode
This methodology has the potential to pinpoint winning stocks at a pace unheard of – or seen before in the public record – with 217 double- and triple-digit peak gains in the first five years of its release.
That’s an amazing record of hitting on average almost four double- or triple-digit winners every single month.
Imagine how wealthy you would be if you had four doubles or triples every 30 days.
But enough about what has already been picked… Let us show you what this method is pinpointing next…
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