10 Top Penny Stocks to Buy This Week as Q3 Earnings Season Kicks Off

Wall Street is concerned about big firms like JPMorgan Chase & Co. (NYSE: JPM), Goldman Sachs Group Inc. (NYSE: GS), and Morgan Stanley (NYSE: MS) falling short on their third-quarter reports this week.

But penny stocks could turn a strong profit no matter how rocky it gets. That's why we're showing you the 10 top penny stocks to watch, plus one to buy right now to cash in.

Editor's Note: Be sure to check out our free guide on trading penny stocks successfully right here.

Even if trade war tensions and a slowing economy threaten to butcher the bottom lines of these Wall Street giants, that doesn't mean the whole market loses.

Every earnings season tends to produce a surge in volatility. In fact, an average of 80% of a stock's yearly market movement occurs during earnings season.

That allows good penny stocks to bank huge returns on the smallest price movements thanks to their low share price.

The only thing standing between you and those top penny stocks is the thousands of other penny stocks trading on major exchanges. It can be tough to know which one will jump next.

That's why we use the Money Morning Stock VQScore system. This proprietary system sorts through thousands of stocks and ranks them according to breakout potential. We simply used it to screen for the best penny stocks to buy right now.

This week, the VQScore found a penny stock that could jump over 100% as market volatility increases.

We'll share our best penny stock with you. But first, here are the top penny stocks from last week:

Penny Stock Current Share Price Last Week's Gain
Nordic American Tankers Ltd. (NYSE: NAT) $4.13 48.03%
Schmitt Industries Inc. (NASDAQ: SMIT) $3.10 44.86%
Cancer Genetics Inc. (NASDAQ: CGIX) $0.16 43.89%
Stage Stores Inc. (NYSE: SSI) $2.37 41.92%
NF Energy Saving Corp. (NASDAQ: BIMI) $1.49 37.04%
TeeKay Corp. (NYSE: TK) $4.84 30.81%
Teekay Tankers Ltd. (NYSE: TNK) $1.97 30.46%
Revolution Lighting Technologies Inc. (NASDAQ: RVLT) $0.31 30.40%
Aclaris Therapeutics Inc. (NASDAQ: ACRS) $1.42 25.66%
McDermott International Inc. (NYSE: MDR) $2.04 25.15%

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As you can see, the penny stock we're about to show you offers double the upside of the top 10 penny stocks from last week.

This one could jump more than 100%. And it's only trading for $4.52 right now...

Top Penny Stock to Buy This Week

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Resolute Forest Products (NYSE: RFP) is a global supplier of wood-based products such as pulp, paper, and various specialty papers.

A supplier in over 70 countries, Resolute focuses on generating high-quality products while minimizing the firm's environmental impact.

This long-term outlook has positioned it as one of the world's largest sustainable providers of paper goods. In fact, the firm is currently one of the world's largest suppliers of newsprint.

The company's global positioning and sustainable outlook have allowed it to cut waste and maximize profits, especially over the last three years.

The company grew its sales 7% between 2017 and 2018 while turning a profit for the first time since 2012. It raked in $235 million in pure profit in 2018 on top of boosting operating cash flow by 175%.

And the best part is, the company keeps flying under Wall Street's radar despite the great business it's doing. This opportunity won't last for long and is exactly what the VQScore is designed to find.

Wall Street analysts project the stock could soar to $8 a share, a nice 76% upside. But we think that's too low for this one.

The stock has a 1.8 price/earnings (P/E) ratio, almost half of its average P/E last year. That means we could see the stock double in price if it rebounds to its prior average, and with the business doing as well as it is, that's a real possibility.

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