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This list compiles the top tech penny stocks to watch in June 2017, and includes the biggest gainers of the month so far. Plus, we'll give you one of our top tech stock picks this year after the chart...
|Tech Penny Stock||Current Share Price||June 2017 Return|
|MoSys Inc. (Nasdaq: MOSY)||$2.07||+213.6%|
|Ability Inc. (Nasdaq: ABIL)||$1.20||+103.4%|
|China Techfaith Wireless Comm. Tech. Ltd. (Nasdaq: CNTF)||$3.33||+47.5%|
|The9 Limited (Nasdaq ADR: NCTY)||$1.28||+40.3%|
|ChinaCache International Holdings Ltd. (Nasdaq: CCIH)||$1.32||+38.4%|
|NII Holdings Inc. (Nasdaq: NIHD)||$0.74||+30.3%|
|Technical Communications Corp. (Nasdaq: TCCO)||$3.65||+28.6%|
|ARI Network Services Inc. (Nasdaq: ARIS)||$6.73||+23.8%|
|Research Frontiers Inc. (Nasdaq: REFR)||$1.32||+23.6%|
|Wowo Ltd. (Nasdaq ADR: JMU)||$2.04||+20.7%|
The tech sector is having one of its roughest months of 2017. On June 9, the bellwether Nasdaq index fell 1.8% thanks to its heaviest component, Apple Inc. (Nasdaq: AAPL), plunging 3.9%. That was the company's biggest one-day decline since January 2016. Although the Nasdaq is still up 0.3% month to date, it's on track for its worst monthly performance of the year. Out of the first five full months of the year, March saw the worst Nasdaq performance with a 1.5% gain.
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Despite volatility in the broader tech sector, tech penny stocks have still managed to post market-smashing returns this month...
The top performer of June so far is MoSys Inc., a semiconductor company based in Santa Clara, Calif. Shares of MOSY stock are up this month 213.6% from $0.66 to $2.07 on the back of a Q1 earnings report that announced the firm has around $5.3 million in cash on hand. This indicates the company is inching toward profitability, which was a likely reason for the increase in buying.
But as attractive as those gains are, we don't recommend buying MOSY or any other tech penny stock listed above. Since they've already seen big double-digit and triple-digit returns, they might not offer a big profit to investors who buy in now at a high price.
Chasing after soaring penny stocks like these is also extremely dangerous for retail investors who haven't done the right research. When investing in penny stocks, digging through financial documents like annual 10-K filings and quarterly reports is paramount to finding safe companies that are profitably growing - and therefore are worth your money.
That's where Money Morning Small-Cap Specialist Sid Riggs comes in. He meticulously pours over this research for our readers. Today, he's currently recommending one of the best small-cap tech stocks to buy this year.
The company he's watching is a dominant force in the financial tech - or "fintech" - industry, which is growing at a rapid pace. Fintech companies are changing the banking landscape because they're letting people make financial transactions over their mobile devices instead of at the bank. Fintech is also projected to grow 716% through 2021, an even clearer indication of its disruption of the banking sector.
While the Nasdaq is only up 0.3% this month, shares of Sid's recommendation have climbed 10.3% and cost less than $9 a share. Analysts predict the stock could gain as much as 27.9% in the next year.
Here's one of the best small-cap stocks to invest in today...