The 5 Top Penny Stocks This Week with Gains Near 800%

top penny stocksThe five top penny stocks this week posted huge gains, with the best-performing penny stock posting gains near 800%.

Every week, I create a new list of the top penny stock performers. I talk about why these stocks posted big gains and give readers a quick overview of what their companies do.

In just a moment, I'll talk about this top penny stocks list. But first, let's go over two of the best strategies for trading penny stocks. These strategies will help you avoid bad penny stock investments, scams, and shell companies.

The best penny stocks to buy are on the major exchanges, like the Nasdaq or the micro-cap NYSEMKT. While penny stocks on these exchange rarely trade for under $1, they do trade for less than $5.

And the slight premium you'll pay for penny stocks on these exchanges is completely worth it. The Nasdaq and NYSEMKT have tougher requirements for penny stocks than the Over-the-Counter Bulletin Board or the Pink Sheets.

For example, one of the requirements for the Nasdaq is for listed companies to have assets totaling $80 million, among other listing standards dealing with earnings and cash flow.

And one of the requirements for the NYSEMKT is for listed companies to have at least $750,000 in revenue in the past two out of three fiscal years.

While being listed on a dependable exchange is important, it's not the only way to find the best penny stocks to buy...

Another strategy is to analyze a company's annual filings.

You can find these filings listed on the U.S. Securities and Exchange Commission website. Look for a company's 10-K form to check its annual performance. It will give you an insight into a company's assets, liabilities, and earnings. A 10-K form will also tell you if a company is bloated with debt, which makes it a lousy long-term investment.

Now that we've gone over two of the top strategies for trading penny stocks, here are the five top penny stock performers this week, including one that's posted gains near 800%...

The Top 5 Penny Stocks This Week

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Top Penny Stock No. 5, Peak Resorts Inc. (Nasdaq: SKIS): Peak Resorts is a holding company that owns 13 ski resorts in the United States. SKIS stock jumped 39% this week after it announced a $52 million expansion to its Mount Snow ski resort in Vermont. Because the expansion is being funded by foreign investors, it had to be approved by the U.S. Citizenship and Immigration Services. SKIS stock is trading at $4.30 per share as of Thursday intraday and is down 28% year to date.

Top Penny Stock No. 4, Glori Energy Inc. (Nasdaq: GLRI): Glori Energy is an oil production company that uses its patented energy technology to increase oil recovery from its drilling sites. GLRI stock rose 45% this week from what seems to be general speculation. The stock is trading for $0.28 and is under threat of being taken off the Nasdaq because it's trading under $1. It has 180 days as of April 28 to get its price up to $1 or higher. GLRI stock is still down 22% year to date.

Top Penny Stock No. 3, Minerva Neuroscience Inc. (Nasdaq: NERV): Minerva Neuroscience is a clinical-stage pharmaceuticals company. It's currently developing several products to treat patients suffering from central nervous system (CNS) disorders. The stock surged 215% on Thursday after it announced positive results from a phase 2 trial of one of its drugs, which is intended to treat schizophrenia symptoms. There's currently no treatment for schizophrenia, so Minerva's drug - if it passes subsequent clinical trials - could be a major breakthrough for one of the most insidious neurological diseases. NERV stock was trading at $11.30 per share as of Thursday intraday and is up 83% year to date.

Top Penny Stock No. 2, Cellectar Biosciences Inc. (Nasdaq: CLRB): Cellectar Biosciences is a clinical-stage biopharmaceutical company that develops drugs that help diagnostic imaging for cancer patients. CLRB stock rocketed 127% this week after Cellectar announced that it had passed a crucial step in the patenting process for one of its technologies, which was assigned an identification number by the U.S. Patent and Trademark Office. CLRB stock is currently trading at $3.14 per share as of Thursday intraday and is up 127% year to date.

Top Penny Stock No. 1, China Recycling Energy Corp. (Nasdaq: CREG): As its name implies, CREG is in the energy recycling business. It develops recycling systems and provides energy savings for industrial applications in China. CREG stock surged nearly 800% this week because it announced a 1-for-10 reverse stock split. The reverse split helped the company fulfill the $1 listing price requirement of the Nasdaq. The split reduced CREG's common stock shares from 200,000,000 to 20,000,000. CREG stock is currently trading at $2.40 per share as of Thursday intraday and is up 570% year to date.

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