The preliminary trade agreement between China and the US was signed yesterday, and stocks were up on the news. However, a handful of breakout penny stocks really stole the show.
These breakout penny stocks posted excellent performances yesterday. For more on cheap stocks, check out our best penny stock picks here: https://www.thestockdork.com/penny-stocks/
Today’s Breakout Penny Stocks
With the stock market performing well over the past few days, here are penny stocks that could be ready to breakout.
Reebonz Holding Ltd (RBZ)
Shares of Reebonz Holding closed yesterday with 67% gains, making it one of the day’s best-performing penny stocks, and the rally is carrying over into Thursday’s pre-market session. As of the time of writing, RBZ is up over 33% from yesterday’s closing price.
Reebonz rallied after the company announced a strategic partnership with TWIST yesterday. The partnership will allow Reebonz to sell TWIST products to over 6 million users on its platforms. The deal will allow Reebonz to offer more luxury fashion products and, hopefully, build its user base.
Cemtrex Inc. (CETX)
Cemtrex Inc. was another breakout penny stock that won big yesterday. It’s closed Wednesday with a 54% gain. In addition to that, the stock price is currently up over 70.88% in Thursday’s pre-market session at the time of writing. It looks primed to go higher when the market opens.
The company recently announced that it had obtained a new contract worth over $700,000 for its Advanced Technology segment. The deal includes video surveillance systems for several municipal buildings, including correctional facilities. Cemtrex expects to deliver the products before the end of this quarter.
In addition, Cemtrex announced the results of its fiscal year ending September 30, 2019 this week. Total annual revenue was up by 73%, from $22 million in 2018 to $39 million in 2019. Gross profits represent 40% of the total revenue in 2019. The profits of $15 million in 2019 represent almost a 100% increase from 2018’s profit of $8 million.
OrganiGram Holdings Inc. (OGI)
OrganiGram Holdings’ shares are rallying at the moment. The stock closed Wednesday’s session with a 45% gain. This cannabis company supplies marijuana for the Canadian medical markets, and it was one of the day’s best breakout penny stocks.
The company’s strong earnings report set off the strong rally. After Tuesday’s close, OrganiGram reported its first-quarter financial results and they were much better than expected. Revenue grew by 102% to reach $25.15 million, that’s more than double the $10.24 million that analysts were predicting. OrganiGram also broke even on earnings per share, when consensus estimates predicted a loss of two cents per share.
OrganiGram records positive earnings despite the current cannabis industry challenges. With more developments in the pipeline this month, OrganiGram’s share price could soar higher as we round up the week.
Penny Stocks That Could Breakout: Closing Thoughts
The breakout penny stocks made investors smile yesterday but, if you missed out, don’t fret. Stock Dork Alerts provide a steady stream of fresh penny stock prospects. Our reports are written in plain English, so they’re easy to understand. Sign up today and get a jump on the New Year with our 2020 Growth Stock Guide, it’s yours free when you join. Click here to sign up and claim your free copy now.