Top 10 Penny Stocks to Buy This Week as Trump’s Trade War Rocks Markets

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.

Last week, lower volatility delivered strong, but not explosive returns. Last week's top penny stock, FTD Cos. Inc. (NASDAQ: FTD) only locked in a 64% gain.

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.

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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...

Our Top Penny Stock to Buy This Week

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AK Steel Holding Corp. (NYSE: AKS) is a steel manufacturing company headquartered in Butler County, Ohio.

The firm currently operates eight steel plants across the Midwest and is a major supplier of steel to the American automobile industry.

While growing demand from the auto industry is certain to boost the company's bottom line, AK's real profit potential is in rising global steel demand.

Analysts expect global steel demand will rise by 1.6% over the next year. India alone is anticipated to grow in demand for steel by over 5%.

And as Chinese steel producers are brought to heel by Washington's trade maneuvers, American companies like AK Steel will be able to pick up the slack and fulfill growing global demand.

It's currently in perfect position to do so. Over the last three years, AK's gross profits have risen 37%. This jump gives the company the profits necessary to invest aggressively in expansion and reward shareholders.

And Wall Street thinks these kinds of returns are going to pay off. Analysts believe the company's stock could jump to as much as $5 in the next year.

That's a return of nearly 100% from today's price. And you can bet on an even greater return if the market continues on its volatile streak.

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