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On Monday (May 6), the Dow Jones Industrial Average plunged over 470 points on reports that U.S. President Donald Trump would impose tariffs on $200 billion worth of Chinese goods if Beijing failed to meet his demands by this Friday.
While the Dow managed to eke out a decent recovery over the course of Monday's trading, the CBOE Volatility Index (VIX) rocketed 46% higher, hitting its highest level since late January.
But this kind of volatility is great news when you're looking at the 10 top penny stocks to buy this week.
You see, penny stocks love volatility. That's because they can generate huge returns for investors on even the slightest market movements.
That's a strong return for just one week, but we can use penny stocks to book even bigger gains with rising volatility.
After looking at last week's top penny stocks, we'll show you a penny stock that's perfectly positioned to pop nearly 100% higher.
|Penny Stock||Current Share Price||Last Week's Gain|
|FTD Cos. Inc. (NASDAQ: FTD)||$1.02||64.87%|
|Rave Restaurant Group Inc. (NASDAQ: RAVE)||$2.00||63.93%|
|Monaker Group Inc. (NASDAQ: MKGI)||$3.04||62.93%|
|Sunworks Inc. (NASDAQ: SUNW)||$1.67||57.77%|
|Novan Inc. (NASDAQ: NOVN)||$1.17||55.94%|
|Diffusion Pharmaceuticals Inc. (NASDAQ: DFFN)||$4.52||55.86%|
|Aemtis Inc. (NASDAQ: AMTX)||$1.29||55.17%|
|Regional Health Properties Inc. (NYSE: RHE)||$3.27||50.89%|
|Atomera Inc. (NASDAQ: ATOM)||$3.80||46.15%|
|Durect Corp. (NASDAQ: DRRX)||$0.78||39.40%|
With volatility now on the rise, it's the perfect time to find the penny stock that's going to deliver triple-digit returns.
And you don't have to look far – we've already found it.
5G Is Coming: The tech breakthrough of the century could rest on this $6 stock – get all the details here.
It's an American steel company that's cashing in on Washington's move to bolster the industry and satiate growing global demand.
Our proprietary Money Morning Stock VQScore™ system gives it a perfect 4.75, meaning it is in perfect position to be a breakout stock.
More specifically: It's only trading for $2.58, but analysts predict it will nearly double by next year…