The Dow Jones Industrial Average up more than 100 points today. Tech giants like Alphabet Inc. (NASDAQ: GOOG) and Microsoft Corp. (NASDAQ: MSFT) are pushing to new highs.
But the 10 top penny stocks to watch this week are poised to outperform the broader market by a huge margin.
This is not uncommon for penny stocks. In fact, we have another penny stock ready to pop 135%.
That's because stocks tend to see more dramatic highs and lows in response to big events. Their low share prices translate to bigger percentage movements.
For example, just look at how much our top penny stocks jumped last week:
| Penny Stock | Current Share Price | Last Week's Gain |
| IVERIC bio Inc. (NASDAQ: ISEE) | $3.80 | 308.60% |
| Oncolytics Biotech Inc. (NASDAQ: ONCY) | $1.15 | 97.26% |
| Arbutus Biopharma Corp.(NASDAQ: ABUS) | $1.41 | 60.23% |
| Organovo Holdings Inc.(NASDAQ: ONVO) | $0.39 | 50.53% |
| Zovio Inc. (NASDAQ: ZVO) | $2.08 | 49.64% |
| SG Blocks Inc. (NASDAQ: SGBX) | $0.56 | 40.00% |
| Foamix Pharmaceuticals Ltd. (NASDAQ: FOMX) | $3.86 | 37.86% |
| CohBar Inc. (NASDAQ: CWBR) | $2.30 | 37.24% |
| Clearside Biomedical Inc. (NASDAQ: CLSD) | $1.27 | 36.56% |
| StoneMor Partners L.P. (NYSE: STON) | $0.74 | 36.19% |
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Of course, there are thousands of penny stocks trading on major exchanges. It can seem impossible to single out the winners from the bunch.
That's why we have the Money Morning Stock VQScore™ system to do that for us.
The proprietary algorithm scans the financials behind thousands of stocks and gives us the ones with the greatest earnings potential. We then only have to select the stocks trading under $5 to get our top penny stocks for the week.
The VQScore gave us last week's top penny stocks. And it came through this week as well.
Our best penny stock to watch this week is an oil firm that's ready to jump 135% in price.
Top Penny Stock to Buy This Week
[mmpazkzone name="in-story" network="9794" site="307044" id="137008" type="4"]Antero Development Corp. (NYSE: AR) is a hydrocarbon exploration company based in Delaware and Colorado.
As a hydrocarbon firm, Antero is mainly involved with discovering and sourcing both natural gas and oil reserves in North America.
With the entirety of the company's reserve located in the Appalachian basin, Antero has made a significant bet on increased domestic output of American fossil fuels.
According to a recent report form the U.S. Energy Information Administration, American oil output is expected to rise by nearly 1.5 million barrels per day over the next year.
This jump will not only push American oil production to new levels - it will also make the United States the world's largest oil producer, ahead of Russia and Saudi Arabia.
With Antero heavily invested in domestic oil discovery, the firm is sure to make a killing as global demand for oil continues to grow while the United States is able to take the lion's share of production.
That's why analysts have given the company a high price target of $7 - a 135% gain over today's price of $2.98.
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