Are You Watching These Former Penny Stocks Right Now?
Penny stocks are well-known for their high level of risk and reward. While it’s relatively normal to see stocks under $5 jump sporadically, it’s less frequent to see cheap stocks go on to “graduate” from this level and become larger companies. But for the ones that do, it’s an exciting time for the market and the organizations themselves.
In many cases, when you’re talking about penny stocks in the first place, you are generally looking at companies in the early stages. On the other hand, you may also be looking at companies that are falling on hard times.
Last year we saw this as the case, with countless stocks falling hard during the early days of the pandemic. Many of the former leading businesses in industries like travel and leisure fell victim to this pressure. Needless to say, many have experienced a strong rebound over the last year.
This was more of a market-based move than anything. A unique event hurt these companies. Had the pandemic not been a factor, the chances that any of those well-known names like Hertz (OTC: HTZGQ) or Party City (NYSE: PRTY) actually becoming a penny stock were slim to none.
Penny Stocks Can Hit It Big
But then you have true penny stocks. These are the ones with underlying companies building a business from the ground up. They weren’t market leaders that fell on hard times. I’m talking about the start-up stage companies building a pipeline or product portfolio from 0. This is where the success stories begin.
Take, for instance, Novavax (NASDAQ: NVAX). The company had already been flirting with penny stock levels much earlier than 2020. But it was developing a treatment pipeline that just so happened to show potential in addressing things like coronavirus. You can read more penny stocks success stories on.
Whatever the case may be, the fact is that penny stocks aren’t just lottery tickets. There are plenty of companies that go on to become formidable competitors within their specific industries. In this article, we’ll look at a few recent “graduates” which have approached new May highs.
- GT Biopharma Inc. (NASDAQ: GTBP)
- Regional Health Properties (NYSE: RHE)
- Image Sensing Systems Inc. (NASDAQ: ISNS)
- Ocugen Inc. (NASDAQ: OCGN)
Top Penny Stocks To Watch: GT Biopharma Inc. (NASDAQ: GTBP)
Shares of GT Biopharma have surged over the last year. Not only has it gone from OTC penny stock to Nasdaq-listed. It firmly established itself outside of sub-$5 levels during late Q1 2021. What’s more, GTBP stock reached fresh 52-week highs this week after climbing to $14.33.
Analysts have remained bullish on this former penny stock. Roth Capital and B. Riley each have Buy ratings on the company with targets ranging from $21 to $25. GT Biopharma’s pipeline and treatment technology platform has become a…