Last week's 10 top penny stocks included a 91.1% gainer, which could've nearly doubled your money. Today, we'll show you exactly which penny stocks surged last week and how you can get in early on the next big winner...
Last week's top-performing penny stock, Cherokee Inc. (Nasdaq: CHKE), jumped over 90% after the company secured a $40 million three-year financing agreement that will allow the company to refinance its debt.
Cherokee's gains demonstrate the spectacular profit potentials that some penny stocks can deliver. However, the trick to getting in on returns like these is to buy a strong penny stock before it takes off.
After looking at last week's top-performing penny stocks, we'll show you a penny stock that's on the verge of crushing Cherokee's returns...
|Penny Stock||Current Share Price||Last Week's Gain|
|Cherokee Inc. (Nasdaq: CHKE)||$0.82||91.11 %|
|Checkpoint Therapeutics Inc. (Nasdaq: CKPT)||$3.54||51.62%|
|TMRS Holding Co. Ltd. (Nasdaq: TMSR)||$4.43||50.00%|
|EKSO Bionics Holdings Inc. (Nasdaq: EKSO)||$2.58||46.93%|
|Jones Energy Inc. (NYSE: JONE)||$0.47||46.76%|
|TransAtlantic Petroleum Corp. (NYSE: TAT)||$1.39||44.29%|
|Inseego Corp. (Nasdaq: INSG)||$2.70||42.27%|
|Globus Maritime Ltd. (Nasdaq: GLBS)||$0.44||37.85%|
|iFresh Inc. (Nasdaq: IFMK)||$2.81||33.64%|
|Technical Communications Corp. (Nasdaq: TCCO)||$4.88||29.87%|
While all of last week's 10 top penny stocks generated great returns, it's unlikely that they will be able to deliver these kinds of profits again anytime soon.
You see, most penny stocks lack the solid underlying financials necessary to generate a significant return. As a result, it's incredibly difficult to identify the right penny stocks to add to your portfolio.
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However, our top penny stock to buy this week is an energy company that's on the verge of generating huge profits from the rising demand for oil.
In fact, it's about to lock in gains of 70%...
This Is Our Top Penny Stock to Watch This Week
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Advantage Oil & Gas Ltd. (NYSE: AAV) is a Canadian energy company based in Calgary. Operating drilling sites across British Columbia and Saskatchewan, Advantage produces roughly 35,000 barrels of oil per day.
Thanks to the company's efficient extraction and distribution network, Advantage produces great returns for its investors. As of Q1 this year, Advantage reported a profit margin of 29% - crushing the industry average of 6.1%
Like the international oil industry, Advantage is poised to benefit from a wave of economic stimuli driving demand.
New sanctions on Iran, looming production issues in South America, and increasing global trade instability are driving oil prices through the roof and have driven demand for Canadian oil to new highs.
Earlier this summer, West Texas Intermediate (WTI) crude futures hit $72.72 a barrel, its highest level since 2014. Meanwhile, SPDR S&P Oil & Gas Exploration & Production ETF (NYSE Arca: XLE) is now outpacing the performance of the S&P 500.
Increased demand is having a huge impact on Canadian oil output too.
In fact, after three years of struggling to generate a profit, the Canadian oil industry is expected to produce $1.4 billion in profit this year thanks to rising global demand.
This demand increase is sure to show up in Advantage's bottom line. That's why analysts have given Advantage a price target of $5.90 - a 71% increase over today's price of $3.45.
Plus, AAV has our highest Money Morning Stock VQScore™, so we know it's the perfect time to buy.
Stocks like Advantage are easy to identify thanks to the VQScore system.
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