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10 Top Penny Stocks to Watch This Week (June 4)

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With last week's top penny stock locking in a 192% gain, we're looking at the top penny stocks to watch this week – and the one stock you need to buy right now.

You see, investors are attracted to penny stocks because of their low up-front costs and the possibly of huge returns. Take this week's top gainer, Co-Diagnostics Inc. (Nasdaq: CODX), as an example.

Last Monday (May 24), CODX opened at $1.62 before soaring 192% over the course of the week to close at $4.05. Like most successful penny stocks, CODX jumped on widely publicized news - this Salt Lake City-based molecular diagnostics company announced a partnership with Stanford University to study CODX's recent technological breakthroughs.