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This week, the U.S. Federal Reserve prepares to cut interest rates at its quarterly FOMC meeting. That means a potential windfall for the top penny stocks to watch this week.
But it could produce even greater profits – returns near 100%, in fact – for our best penny stock.
If the Fed pulls the trigger, this will be the first time it's slashed rates since the 2008 financial crisis.
This cut is likely to lead to a flood of cheap money into the markets, sending stocks higher. But the best stocks will get the biggest gains.
And the top penny stocks could see some of the biggest returns.
The low market price of a penny stock allows it to generate huge percentage gains for shareholders, even from small price movements.
But there's a catch. With over 2,500 penny stocks trading on the markets right now, it can be incredibly difficult to identify which penny stocks will jump when volatility rises.
So, to help our readers find the next top penny stock, we use the Money Morning Stock VQScore™ system.
The proprietary VQScore system scans major indexes for stocks that have the highest chance at earnings growth. That's how we came upon our best penny stock to buy this week.
And we'll show you our top penny stock. But first, here are the best penny stocks from last week:
|Penny Stock||Current Share Price||Last Week's Gain|
|Achillion Pharmaceuticals Inc. (NASDAQ: ACHN)||$4.65||95.38%|
|SigmaTron International Inc. (NASDAQ: SGMA)||$4.95||92.61%|
|Taronis Technologies Inc. (NASDAQ: TRNX)||$0.49||56.82%|
|Harvard Bioscience Inc. (NASDAQ: HBIO)||$2.70||38.46%|
|Acasti Pharma Inc. (NASDAQ: ACST)||$2.31||35.09%|
|Durect Corp. (NASDAQ: DRRX)||$0.98||34.19%|
|BioHiTech Global Inc. (NASDAQ: BHTG)||$2.39||32.78%|
|DelMar Pharmaceuticals Inc. (NASDAQ: DMPI)||$1.66||29.69%|
|VolitonRX Ltd. (NYSE: VNRX)||$4.40||25.71%|
|Sellas Life Sciences Group Inc. (NASDAQ: SLS)||$0.16||24.80%|
Last week's penny stocks delivered strong returns for investors. But our top penny stock to buy this week is on the verge of a 100% profit.
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The VQScore has found the best penny stock to own right now as the Fed gets ready to lower interest rates.
It's a steel company cashing in on the booming demand for steel production.
And a VQScore of 4.75 means it's ready to soar.
In fact, you can pick it up right now for only $2.48…