Top Penny Stocks to Watch in April 2019
Though the stock market stumbled a bit in March, the trend for the overall market remains unmistakably to the upside. Of course, there are still major risk concerns on the horizon. But the market appears poised to push through and extend the recovery from its late-December lows. Since the beginning of the year, stocks have been on a sharp and sustained rebound. And the benchmark S&P 500 index is not far off from its September 2018 record high.
Amid this still-bullish market, some of the highest flyers have been humble penny stocks. Here, we give you the all-new April 2019 edition of our popular Top Penny Stocks to Watch. (For last month’s, see: Top Penny Stocks to Watch in March 2019.)
What are Penny Stocks?
Penny stocks are generally defined as small-to-micro-cap (low market value, or capitalization) stocks trading for under $5 per share. They’re not usually our first choice for trading and investing. But many penny stocks see spectacular gains that are hard to resist.
What are the Top Penny Stocks to Watch in April 2019?
As always, we chose our top penny stocks based on three main criteria:
- Currently trading under $5 per share, and small-cap or lower
- Relatively high trading volume (for a penny stock)
- Exceptional stock performance across a number of different time frames
The chart above shows the current prices of our five picks as well as their year-to-date returns as of the market close on Friday, 3/29/2019.
For April 2019, we present all-new picks that have not appeared before on our lists. They are:
- CFMS: ConforMIS Inc. | Price: $2.88 (as of 3/29/2019 market close) | Year-to-Date Performance: +704.47% (as of 3/29/2019 market close)
- PED: Pedevco Corp. | Price: $2.78 (as of 3/29/2019 market close) | Year-to-Date Performance: +267.09% (as of 3/29/2019 market close)
- CIDM: Cinedigm Corp. | Price: $1.90 (as of 3/29/2019 market close) | Year-to-Date Performance: +233.27% (as of 3/29/2019 market close)
- SCYX: SCYNEXIS Inc. | Price: $1.51 (as of 3/29/2019 market close) | Year-to-Date Performance:+213.47% (as of 3/29/2019 market close)
- TEUM: Pareteum Corp. | Price: $4.55 (as of 3/29/2019 market close) | Year-to-Date Performance: +169.23% (as of 3/29/2019 market close)
What Companies are Behind These Penny Stocks?
ConforMIS is our top-performing penny stock year to date, by far. It’s a medical equipment and instrument supplier that designs and manufactures customized hip and knee replacements for individual patients. The company has a market capitalization of around $198 million.
Pedevco has a market cap of only around $43 million, technically making it a “nano-cap” stock and the smallest stock on our list. The company is also known as Pacific Energy Development. It’s an energy company that acquires and develops high-growth U.S. energy projects, including shale oil and gas assets in the Permian Basin and D-J Basin.
Cinedigm is a U.S. entertainment company that markets and distributes digital cinema, software and video content. It currently has a market cap of around $70 million.
SCYNEXIS is a drug development company that develops and markets anti-infectives, including an oral and intravenous drug for the treatment of various fungal infections. The company’s market cap is around $75 million.
Parateum is the largest stock on our list at around $453 million in current market capitalization. It’s a telecommunications company that provides mobile networking software and services with a focus on enabling and securing the Mobile Cloud.
IMPORTANT: The information above should not be construed as investment advice and should not be considered as a solicitation to buy or sell securities. Past performance is not indicative of future results. Trading and investing in the financial markets involves substantial risk of loss, and may not be suitable for all investors.
Disclosure: At the time of this article’s publication, we have no position in any security or trade/investment mentioned, nor do we have any business relationship with any company whose stock may be mentioned.
Senior Technical Analyst at The Technicals
As a momentum stock trader, Luke focuses mostly on strong market moves. Luke has been trading the markets since the early 2000s, but still gets excited by big movers. Whether a surging large-cap tech company or meteoric penny stock, Luke tracks and trades winners. A technical analysis purist, Luke authors many of our Top Stocks & ETFs reports. Contact Luke