LLEX - 5 Penny Stocks to Buy For Under $4 Right Now
Are These The Best Penny Stocks To Buy Now?
Can you make money with penny stocks? This is always one of the first questions you’ll get asked from new traders if you actively buy penny stocks. The obvious answer would be yes considering that anyone losing money in a venture wouldn’t likely continue doing so if that were the case. Regardless, let’s look at the basics of trading penny stocks.
For starters, according to the SEC’s definition of a penny stock, we’retalking about equities trading below $5. Given this case, it’s easy to getcaught up in buying large positions with smaller capital outlay. But that doesn’tmean you should treat these cheap stocks like lottery tickets either.
It’s important to keep in mind that making money with penny stocks takes a bit of skill. Can you get lucky? Definitely and that goes for any trade or investments. There’re always ways to get lucky but to consistently remain profitable; that takes a bit more skill.
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At the same time, it is also important to be careful about choosing which penny stocks to buy. Hence, it is absolutely necessary for investors to conduct research thoroughly and then decide on the stock to invest in. Usually, a good list of penny stocks to start from is key. On that note, here is a look at five penny stocks that can be bought for less than $4 right now. But does that mean they’re the best penny stocks to buy?
Penny Stocks Buy For Under $4 #1:
Lilis Energy (LLEX)
The first penny stock to watch is Lilis Energy Inc (LLEX Stock Report). It has been on a roll since the middle of December. At the beginning of the month, the company had been issued a listing deficiency letter by the New York Stock Exchange. It asked the company to either go for a reverse stock split or display an improvement in the stock price.
From the middle of December, LLEX stock has gained as much as 250% and the stock has shown excellent momentum thus far. The rally in the stock continued on Monday as it soared to highs of nearly $0.70 before 10 AM EST.
It remains to be seen how the stock fares later this week. However, since the oil and gas sector has taken off in January, it isn’t surprising to see penny stocks like Lilis captivate investors’ attention early on.
Penny Stocks Buy For Under $4 #2:
Acorda Therapeutics (ACOR)
Another penny stock that experienced a significant jump on Friday was Acorda Therapeutics Inc (ACOR Stock Report). This continued on Monday as well after we first caught onto the momentum that ACOR stock had seen last week. It came about after the company made a major announcement.
Acorda reported that it has received fresh investment from Point72. Acorda revealed that Point72 made an investment by way of which the latter is going to have a 9.8% passive stake in the biotech firm.
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It is a significant development for the company and it was no surprise that the stock rallied handsomely on Friday. ACOR rallied by as much as 16%. Furthermore, after pulling back in price slightly during Monday’s premarket session, the penny stock promptly continued its upward move.
Penny Stocks Buy For Under $4 #3:
Eros International (EROS)
South Asian over the top platform operator Eros International plc (EROS Stock Report) emerged as another major gainer last week. The company announced on Thursday that it has inked a partnership with Qatari telecommunications company Ooredoo Qatar.
By way of the partnership, Eros Now will be made available to Ooredoo customers and that gives the company a much bigger audience pool. The news was welcomed by the market and EROS stock rallied by as much as 13%. Since the start of the fourth quarter, Eros stock has gained more than 110%.
Penny Stocks Buy For Under $4 #4:
CTI Industries (CTIB)
If this stock seems familiar, that’s because it is. CTI Industries (CTIB Stock Report) has been one of the top penny stocks to watch since we first reported on it in December. At the time, CTIB stock traded around $0.58 but since then, things have taken a very aggressive turn. Would you believe that in just under 1 month, this penny stock has managed to rally by as much as 546% (so far)?
So what happened? In December the company issued a press release that highlighted a letter of intent to sell its Flexo International. However, no terms were disclosed. This week CTI reported that it has executed a non-binding LOI to divest its subsidiary in Mexico (Flexo) for $4 million.
There are riders that go along with the transaction but a letter of intent is generally a good first step. Thanks to this news, CTIB stock has broken out in a major way on well-above-average volume Monday morning.
Penny Stocks Buy For Under $4 #5:
ContraFect Corp (CFRX)
Finally, ContraFect Corp (CFRX Stock Report) has gotten off to a running start this year. Last week we saw shares move from lows of $0.55 to highs of $0.65 on Friday. That move continued today as CFRX stock rallied to nearly $1 before 10:30 AM EST.
It seems like a report that came out over the weekend has helped bring more attention to the company. An article from Barrons highlighted the Pfizer investment made a few weeks ago. The main focus was on how that investment had more than doubled ever since.
“There is a high unmet medical need for new therapeutic modalities to address antibiotic resistant bacteria that can cause life-threatening infections. We look forward to supporting ContraFect as they work to advance novel first-in-class biological therapies with the potential to directly kill bacteria such as methicillin-resistant Staphylococcus aureus (MRSA) in a targeted manner.”
Annaliesa Anderson , Pfizer vice president and chief scientific officer, bacterial vaccines and hospital