The stock market has seen mixed reactions over the past few weeks as Coronavirus takes center stage in global discussions. Despite the effect of the virus on the stock markets, some penny stocks have been performing excellently and could run higher.
Penny stocks can be very volatile. Sometimes that can be a bad thing, but it also allows investors to record massive profits within a short period. These 4 penny stocks are performing well, and they could be heading even higher.
For more on the best penny stocks, check out our monthly rankings here.
Top 4 Penny Stocks That Could Run Higher
Here are the 4 penny stocks to keep could run higher over the coming hours and days.
China Pharma Holdings, Inc. (CPHI)
Shares of China Pharma Holdings is up substantially over the past few hours. It is currently up by 96% over the past 24 hours and could run higher in the coming days. At the moment, China Pharma Holdings is the best performing penny stock and could be an attractive option for investors.
China Pharma Holdings is a holding company that carries out production, marketing, finance, development, and administrative activities via its several subsidiaries. The company has been around since 1993 and is actively manufacturing prescription drugs, OTC and nutrition products. They currently provide services in more than 30 provinces and regions across China.
Gulf Resources, Inc. (GURE)
This is another Chinese-based company whose stock is trading in the US. The shares of Gulf Resources are up by 50% over the past few hours and it could run higher. The massive surge in share price makes it one of the best penny stocks to trade at the moment.
Gulf Resources is a chemical manufacturing company, with its headquarters in Shouguang, Weifang, China. The surge in stock price is as a result of an announcement the company made a few days ago.
On January 27, Gulf Resources announced the 1-for-5 reverse stock split of its issued and outstanding shares of common stock. The reverse split was done with immediate effect and this has positively affected the shares of the company in terms of price.
The reverse split move was made to boost the trading price of the stock. The increase in share price will see the company satisfy the $1.00 minimum bid price required to remain listed on The NASDAQ Global Select Market. The stock price has been increasing since then, and it could run higher over the coming days.
OpGen Inc. (OPGN)
OpGen is another penny stock that could be ready to run higher after rising by 44% over the past 24 hours. The company is known for using informatics and genomic analysis to provide complete solutions for infection prevention and treatment.
On January 30th, OpGen provided an update on Curetis Group Company. Curetis reported that Ares Genetics GmbH, its subsidiary, will be working with the Chinese genomics company BGI Group to carry out molecular testing for the new coronavirus 2019-nCoV found in Europe.
This is big news because 2019-nCoV is a new coronavirus variant that has yet to be identified in humans. This latest development sees the stock price of OpGen soar higher and could move further due to the enormous relevance of coronavirus.
Artelo Biosciences Inc. (ARTL)
The shares of Artelo have been performing well over the past few days and is currently up by 35% in the last 24 hours. Artelo is a pharmaceutical company that has been around since 2011, with its headquarters in La Jolla, California, United States.
The surge in stock price could be due to the company’s announcement of the NCI Grant. The company awarded Stony Brook University a $4.2 million grant to help in the development of its fatty acid-binding protein 5 (FABP5) inhibitor platform. The platform is exclusively licensed to Artelo and it could be a potential breakthrough cancer treatment.
Penny Stocks: Closing Thoughts
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