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Penny stocks are a great opportunity to chase significant gains for little up-front investment.
However, with over 2,800 stocks trading on the NYSE and Nasdaq for under $5, it's incredibly difficult to identify which penny stocks are going to deliver triple-digit returns.
In order to help Money Morning readers identify the top penny stocks to buy right now, we're looking at last week's top-performing penny stocks.
You see, looking at the top penny stocks from last week allows us to identify hot investment trends - and determine which penny stock is going to jump next.
After looking at last week's top penny stocks, we'll show you a penny stock that's on the verge of breaking out - and generating tremendous gains for shareholders.
Here are last week's top-performing penny stocks:
|Penny Stock||Sector||Current Share Price||Last Week's Gain|
|Inuvo Inc. (NYSE: INUV)||Services||$1.37||185.16%|
|Novelion Therapeutics Inc. (NASDAQ: NVLN)||Healthcare||$1.37||94.32%|
|Boxlight Corp. (NASDAQ: BOXL)||Technology||$3.26||54.26%|
|Matinas Biopharma Holdings Inc. (NYSE: MTNB)||Healthcare||$1.76||49.45%|
|Remark Holdings Inc. (NASDAQ: MARK)||Technology||$3.33||46.85%|
|Determine Inc. (NASDAQ: DTRM)||Technology||$0.55||38.20%|
|Northern Dynasty Minerals Ltd. (NYSE: NAK)||Basic Materials||$0.70||35.47%|
|Forward Pharma A/S (NASDAQ: FWP)||Healthcare||$1.39||34.21%|
|Bellerophone Therapeutics Inc. (NASDAQ: BLPH)||Healthcare||$1.03||32.50%|
|Roadrunner Transportation Systems Inc. (NYSE: RRTS)||Services||$0.64||31.88%|
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As you can see above, the healthcare and tech sectors supplied the vast majority of the week's gains.
That's why we're going to key in on the tech sector to find our next breakout candidate.
This week, we've identified a penny stock from the tech sector on the cusp of revolutionizing the semiconductor industry.
And it's only trading for $1.70 a share and is on track to gain nearly 50%...
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Top Penny Stock to Buy This Week: United Microelectronics Corp.
Based in Hsinchu, Taiwan, United Microelectronics Corp. (NYSE: UMC) is the nation's first semiconductor company.
UMC is best known for manufacturing integrated circuits incorporated into digital processing products created by companies like Nvidia Corp. (NASDAQ: NVDA).
Because UMC is a prominent supplier to the world's largest semiconductor manufacturers, the company is well positioned to take advantage of the growing demand for semiconductors.
The rise of crypto mining and esports has created a ravenous demand for semiconductor chips since they play an essential role in facilitating both mining and esports.
Because of growing demand, global semiconductor industry sales are expected to jump 7% from $408 billion in 2017 to $439 billion in 2018 alone.
UMC is cashing in on the global boom, pushing up its net income for continuing operations over 60%. And it shows no signs of slowing down.
UMC stock currently trades for $1.86 a share and has serious potential to keep rising as the semiconductor industry soars.
In fact, analysts see the company's stock jumping as high as $2.50 in the near future - a gain of 47% over the coming year.
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