Penny stocks may be called a volatile category of stocks but at the same time, it cannot be denied that these are stocks that can also make fortunes if investors can fish out the right stocks. These stocks are available for under $5 a share in general and hence, it is possible for investors to own a large number of shares. When these stocks then move, they can create considerable wealth. This article is going to give you a lowdown with regard to six penny stocks that have the potential of generating a tenfold return.
Wearable Health Solutions Inc (OTCMKTS:WHSI) – The wearable medical device market is one that has grown at a pretty remarkable pace over the past years and there are now a number of companies operating in the space. If you are looking for options in the penny stock category then Wearable Health Solutions Inc could be the one that you could start focussing on. The company has already developed a range of products and many of those are already out there in the market, which makes it a name to be reckoned with in the highly competitive industry.
Analysts seem to be getting the message with regards to Wearable Health Solutions as well and yesterday it emerged that Theodore O’Neill, an analyst at Litchfield Hills Research set a pretty bullish price target for the stock. He set the price target for Wearable Health Solutions at 20 cents a share and if the stock hits that price then it is going to work out to a jump of a staggering 1000%.
He noted that the size of the market in which Wearable Health Solutions is operating is worth in the range between $8.5 billion and $9 billion. In addition to that, he noted that Wearable Health Solutions also enjoyed a significant competitive advantage owing to its unique technology.
The company is soon going to introduce iHelp and which is supposed to be the most sophisticated medical monitoring system in the world as things stand.
Jaguar Health Inc(NASDAQ:JAGX) – Yesterday, the Jaguar Health Inc stock was in the middle of a bit of a rally and ended up with gains of as much as 35. It is going to be interesting to see if the investors move in on the penny stock in a big way this morning or not.
On Wednesday, the company came into focus after it announced that it had gone into a license and services agreement of exclusive nature with SynWorld Technologies Corporation. By way of this agreement, the two companies are going to work on the treatment of diarrhoea in dogs in China. The product that is going to be the point of focus for this venture is Canalevia, which is manufactured by Jaguar Health.
Hoth Therapeutics Inc (NASDAQ:HOTH) – On Wednesday, Hoth Therapeutics Inc was in prime focus among investors after it emerged that Listing Qualification Department at NASDAQ had granted the company an extension within which to regain compliance. Following the news, the stock jumped by 4% and took the gains over the course of the past week to as much as 10%.
As per the notification, Hoth Therapeutics had been granted an extension of another 180 days within which it would need to meet the criteria of a minimum closing bid price of $1 a share. The deadline has now been set for December 26, 2022.
Color Star Technology Co Ltd (NASDAQ:CSCW) – A penny stock that seemed to have caught the eye of investors during after-hours trading yesterday was Color Star Technology Co Ltd, which ended up clocking gains of as much as 44%. However, there was no late news in the day that may have led to that rally, and hence, it remains to be seen if the stock can start the day on a strong footing or not.
The entertainment technology company was in the news back on June 16 when it made a significant announcement with regards to the fact that the games on its metaverse platform had gone online. The metaverse is supposed to be the next big thing on the internet and the launch took may prove to be a crucial one for Color Star Technology Co Ltd.
AnPac Bio-Medical Science Co Ltd (NASDAQ:ANPC) – The AnPac Bio-Medical Science Co Ltd stock was another penny stock that moved up on Wednesday as it ended the day with gains of as much as 3%. There was no news about the company but it may be a good idea to take a look at the development from June 10.
The company announced that it had been notified by NASDAQ that it had regained compliance with regards to the rules for continued listing on the exchange.
HTG Molecular Diagnostics Inc (NASDAQ:HTGM) -The HTG Molecular Diagnostics was in the middle of another strong rally yesterday as it moved up by 18% and thereby took its gains for the past week to as much as 82%.
The stock came into focus yesterday after the company announced that an article featuring HTG Transcriptone Panel from a customer had been published in a peer-reviewed journal.
