Top Penny Stocks to Watch in January 2019
There’s only one trading day left in 2018. After Monday, December 31, the year will be history. Much of what happened in the financial markets during 2018, especially towards the tail-end of the year, we’d like to forget. Overall, though, we’re very grateful to be alive and well, and to have survived (and thrived) in a challenging market environment. As we look forward to 2019 with great optimism, we give you the all-new January 2019 edition of our popular Top Penny Stocks to Watch. (For last month’s, see: Top Penny Stocks to Watch in December 2018.)
Penny stocks are generally defined as small-to-micro-cap stocks trading for under $5 per share. While they’re not usually our first choice for trading and investing, many penny stocks see spectacular gains that are very hard to resist.
As always, our top penny stocks were chosen based on three main criteria: 1) Currently trading under $5 per share, 2) Relatively high trading volume (for a penny stock), and 3) Exceptional stock performance across a number of different time frames. The chart above shows the prices of our five picks (as of the market close on Friday, 12/28/2019) as well as their stock performance in 2018.
For January, three of our picks are the same as they were in December. This is only because these three continue to show superior strength against other penny stocks and the rest of the market. The three continuing top stocks are:
And the new picks for January are:
What Companies are Behind These Penny Stocks?
The first company on our list, CorMedix, is a small biotech company with around $119 million in market capitalization. The company develops and markets therapeutic products for the prevention and treatment of infectious and inflammatory diseases.
Dover Downs Gaming & Entertainment is an even smaller company at only around $85 million in market cap. It operates Dover Downs Casino, a 165,000-square foot casino complex. The casino runs table games, slot machines, multi-player electronic games, and a race and sports book operation. The company also operates bars, restaurants, and six retail outlets.
Inseego Corporation sells software-as-a-service (SaaS), Internet of Things (IoT), and mobile solutions worldwide. With a market cap around $297 million, it’s the largest company on our list.
STRATA Skin Sciences is a medical technology company that focuses on the therapeutic and aesthetic dermatology market. Its market cap is around $84 million.
Finally, RiceBran Technologies is currently the smallest company on our list at only around $81 million in market cap. The company is focused on food products. Specifically, RiceBran Technologies is involved in the production, processing, stabilization and preservation of rice bran for global consumers.
Overall, January’s top penny stocks are a diverse group of companies that encompass industries as wide-ranging as biotech, Internet technology, medical, food, and gambling. What binds these five companies together? As always, it’s spectacular recent performance, attractively low stock prices, and the potential promise of more gains to come in 2019.
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