It's a dog day for the Dow Jones as major earnings reports reveal the impact of the China trade war. Hasbro Inc. (NASDAQ: HAS) is among many firms citing China tariffs as a reason for missed earnings targets, and the stock is down over 10%.
But while the Dow today looks wobbly, one of our top penny stocks to watch expects a 112% return despite the global economic narrative.
That's higher than any of the 10 top penny stocks from last week, although they turned in a solid performance as well. The best penny stock more than doubled for last week's investors:
| Penny Stock | Current Share Price | Last Week's Gain |
| BioNano Genomics Inc. (NASDAQ: BNGO) | $1.08 | 107.33% |
| AzurRx BioPharma Inc. (NASDAQ: AZRX) | $0.79 | 76.64% |
| Attis Industries Inc. (NASDAQ: ATIS) | $1.27 | 67.08% |
| Atlas Financial Holdings Inc. (NASDAQ: AFH) | $0.70 | 59.32% |
| Xenetic BioSciences Inc. (NASDAQ: XBIO) | $1.66 | 58.10% |
| NanoViricides Inc. (NYSE: NNVC) | $2.33 | 53.29% |
| Hepion Pharmaceuticals Inc. (NASDAQ: HEPA) | $3.41 | 51.56% |
| Adynxx Inc. (OTCMKTS: ADYX) | $1.52 | 50.00% |
| Sequential Brands Group Inc. (NASDAQ: SQBG) | $1.42 | 47.37% |
| Protalix Biotherapeutics Inc. (NYSE: PLX) | $0.25 | 44.13% |
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These penny stocks are further proof you can make money no matter what the rest of the market is doing.
Blue chips will continue to deliver mixed earnings reports, and the major indexes will see a lot of up-and-down movement. But, as was proven last week, there are always good penny stocks that go against the grain.
The best penny stocks do well in these scenarios because of their low share prices. A small change in price translates to a huge percentage gain.
You can lock in triple-digit gains on a regular basis staying on top of the right penny stocks. You just need to know which penny stocks are due for a jump.
It might sound impossible to choose a few winners from the thousands of penny stocks on the market. But that's why we use the Money Morning Stock VQScore™.
Scanning thousands of penny stocks every week, the VQScore system identifies penny stocks that are ready to pop with a score between 1 and 4.9. When a stock has a 4 or above, there's a good chance it will soar in the near future.
Our best penny stock this week is one of those. It's trading under $2, but it's about to pop over 100%...
Best Penny Stocks to Buy This Week
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Located in Russia, Mechel Mining Co. (NYSE: MTL) is one of that country's largest metal and mining companies. It focuses on the production of silver, steel, coal, and iron ore.
It's operated since 2003 and employs close to 60,000 people through its various subsidiaries. The firm does business throughout the world in Russia, Asia, Europe, and the Middle East.
A great deal of this company's growth over the past decade is due to its intense focus on global expansion through major acquisitions.
Mechel has signed on for no less than nine major takeovers since 2004, which have given the firm access to mineral-rich areas across the Russian subcontinent and the Pacific Rim.
These acquisitions have been the fuel driving the firm's profit growth over the past several years.
Since getting back to profitability in 2016, it's grown profits by 76%. It's also slashed its debt to the lowest level in a decade. Its current price/earnings ratio is a mere 1.98, down from 13.25 in 2016.
Analysts have given the stock a $4 target price. That's 112% return from today's $1.88 price per share.
Illinois Becomes the 11th State to Legalize Cannabis (Making More People Rich)
Cannabis laws are being reformed en masse: Illinois has not only become the 11th - and second largest - state to legalize marijuana, but the first to do so by way of state legislation.
That means the medical, personal, and economic benefits of "America's Green Gold Rush" are appealing to Republicans and Democrats alike.
One cannabis research executive is hailing Illinois the "Marijuana Mecca of the Midwest," a hallmark of the rising uncapped profit potential ahead.
Once the feds end cannabis prohibition nationwide, all bets will be off - demand will boost share prices through the roof. But you can still get in on the ground floor, just in time for what could be the windfall of the century.
Illinois is already housing some of our top picks in the industry, so a few of our favorite stocks could get yet another boost.