The recent spate of uninspiring data, from unemployment to retail sales, has been blamed on the unrelenting cold and snowy winter. But one group that hasn't been affected, and isn't using the convenient "bad weather" excuse, is this list of penny stocks to watch now.
This week brought huge gains from several low-priced stocks across all sectors:
- In the micro-cap biotech sector, Chelsea Therapeutics Intl Inc. (Nasdaq: CHTP) shares climbed 35% to $6.80 Tuesday, after receiving fast-track FDA approval for its drug Northera, used to treat a rare form of low blood pressure.
- In the energy sector, Lightbridge Corp (Nasdaq: LTBR) shares spiked 29% to $2.98 Tuesday morning. The nuclear energy company announced the U.S. Patent and Trademark Office approved and issued a key patent for the company's fuel rod design and fuel assemblies. Shares tacked on another 15.44% Thursday, ending the session at $3.44. Friday, shares hit a fresh 52-week high of $3.60.
- In the small-cap technology sector, the penny stock Microvision Inc. (Nasdaq: MVIS) saw its shares enjoy a 134% gain to $1.35 Thursday, on news Sony Corp. (NYSE: SNE) will use Microvision's laser display technology in its new pocket-size projector module. Friday, shares added another 15% intraday to $3.38, just shy of its 52-week high of $3.49.
- In the penny stock real estate sector, Supertel Hospitality (Nasdaq: SPPR) shares surged 63.55% intraday Thursday to a high of $3.55 on heavy volume. The stock ended the session up 50.70%, or $1.09, to $3.24 Thursday, despite no news.
Penny stocks like these can result in double- and triple-digit gains in one day – huge profits for any investor able to handle the involved risks.
Following are four low-priced stocks that jumped in price and volume Friday. Add these to your "penny stocks to watch" list in 2014.
Penny Stocks to Watch
Universal Business Payment Solutions Acquisition Corp. (Nasdaq: JTPY) shares surged more than 50% to $4.20 intraday Friday. The gains came after the company announced its JetPay division signed an agreement to process financial and data transactions for LifeMed's newest product: the medical services kiosk. JetPay is a nationally recognized transaction processor, pre-paid debit card issuer, and payroll and tax filing specialist. LifeMed ID is the U.S. industry leader in integrating the use of patient smart cards and biometric devices into the healthcare workflow, providing instant, secure, and private information exchanges between caregivers, medical facilities, and patients. The kiosks are expected to streamline hospital and office check-ins and to provide life-saving data to doctors. Additionally, it will allow for easy bill payments. Based in Berwyn, Pa., JTPY has 135 full-time employees and a $38 million market cap. Its 52-week trading range is $1.35 to $5.