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Investors who bought in on the top penny stocks last week brought home gains as high as 129% in just a matter of days.
Those potential windfalls are what makes penny stock investing so attractive. While there are numerous risks to investing in penny stocks, the rewards are just as abundant.
The top two penny stocks last week more than doubled shareholders' investments, and every stock on this list brought home a gain of at least 55%.
Now, here is last week's top penny stocks list…
Top 5 Penny Stock Gains
MagneGas Corp. (Nasdaq: MNGA) posted the biggest gain among penny stocks last week when it jumped 129% through Friday. MagneGas is an alternative energy company that produces hydrogen-based energy through the gasification of liquid waste. At one point Thursday, MNGA traded at its 52-week high of $2.37. The stock was up last week on news that MagneGas' fuel was selected for four demolition projects requiring torch cutting. The company is headquartered in Tarpon Springs, Fla., and has a market cap of just $48 million.
IsoRay Inc. (NYSEMKT: ISR) was another triple-digit winner when it posted a gain of 114% last week. IsoRay designs and develops isotope-based products that are used in the treatment of cancer and other malignant diseases. Last week, ISR announced that it had sold more than 5.6 million of its shares to two institutional investors for a price of $2.60 per share. ISR shares had opened the week at $1.09 and ended the week at $2.41.
Aastrom Biosciences Inc. (Nasdaq: ASTM) develops regenerative medicines that are used to treat damaged or diseased tissues. The company uses cell-manufacturing technologies to treat patients using their own bone marrow. Last week, ASTM shareholders were treated to an 85% gain, as the stock climbed $2.98. ASTM is on the expensive side for a penny stock, as it currently trades at $5.13. Aastrom has a market cap of just $22 million.
ASTM will be making a presentation at the 2014 Regen Med Investor Day on March 26. The specific topic of Aastrom's presentation is still unknown, and any announced breakthroughs for ASTM products or therapies could serve as a catalyst for the stock.