The stock market is currently on a three-day losing streak. The optimism surrounding a US-China trade deal seemed to have disappeared, and it has affected the markets. However, some cheap stocks continue to perform well.
The stock market has been rallying in recent weeks as investors thought the phase one deal with China is imminent. However, recent reports show that the agreement could be signed in 2020, leading to some stocks losing value over the past few days.
Top-Performing Cheap Stocks for the Week
Despite the stock market posting losses in recent weeks, here are the leading cheap stocks for the week.
Don’t forget to check out our other cheap stocks articles:
- The Best Stocks Under $1: https://www.thestockdork.com/stocks-under-1/
- The Best Stocks Under $5: https://www.thestockdork.com/best-stocks-under-5/
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Wah Fu Education Group Ltd (WAFU)
Wah Fu Education Group is a leading education services provider. The company’s stock is the leading cheap stock for the week. It is up by 118% over the past few days and could go higher in the coming days.
Wah Fu Education Group’s stock is up by 12% at Friday’s pre-market session. The spike in Wah Fu’s stock price comes after the company entered a partnership with Chengdu Neusoft University. Wah Fu has been tasked with developing and maintaining a customized online education platform for Chengdu Neusoft University.
Stage Stores Inc. (SSI)
Stage Stores Inc. is another cheap stock that is performing well despite market conditions. The department store company has seen its stock rise by roughly 70% since the start of the week. It could go higher over the coming days.
Stage Stores Inc. recently reported a robust quarterly sale. During the third quarter, comparable sales for the company increased by 17.4%. The net loss was $15.9 million, which is lower than the $31.4 million reported in the same quarter last year.
The company’s partnership with Amazon has helped Stage Stores report higher earnings during the last quarter.
Ambow Education Holding Ltd (AMBO)
Similar to Wah Fu, Ambow is a provider of educational and career enhancement services. Ambow’s stock has seen an upsurge of over 34% over the past few days. Early signs point to the company continuing its rally after rising by 2% at Friday’s pre-market session.
There is no direct catalyst behind the stock’s recent rally. However, the company hosted the Innovation and International Resource Sharing Forum in China last month. The conference was organized in partnership with Global Career Quality Assurance.
Ambow is already providing its educational services to students in 30 out of the 31 provinces across China.
Hexo Corp (HEXO)
Canadian cannabis company Hexo Corp is one of the best performing cheap stocks this week. Hexo’s stock is up by 33% since the start of the week. Hexo’s stock is rallying despite the bear market currently affecting the general cannabis market.
Hexo recently admitted to growing marijuana in an unlicensed region of its Niagara facility. The company closed the section after realizing it was unlicensed and reported to the Health Canada department. Hexo is slowly turning the tide and has recovered most of its value since the start of the year.
More Cheap Stocks Update
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