Inovio Pharma

The Dow Jones Industrial Average is up more than 500 points after the Federal Reserve said it would start buying individual corporate bonds in addition to the exchange-traded funds it already buys.

The added stimulus for the markets could be a 190% catalyst for our best penny stock to buy.

The coronavirus pandemic has put the CBOE Volatility Index (VIX) daily average above 33 this year.

That's about double what it was last year.

And high volatility is great for penny stocks.

But it's even better for our top penny stock today.

This cannabis penny stock is poised to gain 445% in a matter of months.

Uncertainty might be a good thing sometimes.

Today, we're going to show you a way to make it work in your favor.

Our best penny stock just got a perfect rating. It's poised for 92% growth.

And it's all becaused the market is so unpredictable right now.

The CBOE Volatility Index has a daily average above 30. Compare that to last year's daily average of 15.

Of course, could take that as a message to sit on the sidelines. Or you could look at this as an opportunity to profit on one of the top penny stocks today.

The CBOE Volatility Index (VIX), or "Fear Index," sits above 40 today.

The average last year was 15.

Investor "fear" has more than doubled in a matter of months on the coronavirus lockdown.

But it's creating huge profit opportunities for investors of a certain risk appetite.

Our top penny stock to buy today has 481% profit potential.

The CBOE Volatility Index has gone as high as 70 over the last few months in response to the coronavirus outbreak.

It's declined to below 60 today.

And this is still an outrageously high level of uncertainty in the markets (compare to the 2019 average of 15.39).

This is good for penny stocks.

You see, penny stocks trade for under $5, by the SEC's definition.

That means they can see huge price movements in a short span of time.

This can be from a broader market move – the Dow Jones is up 4,000 points from Monday's low.

Or it can be from a breakthrough within the company.

For instance, shares of Inovio Pharmaceuticals (NASDAQ: INO) popped more than 300% in early March, after the company announced it was closing in on human trials for a coronavirus vaccine.

We had recommended the stock when it hovered around $4.

Readers had a chance to grab it then sell it at $17 in just a couple weeks.

The coronavirus has brought volatility back to stocks.

While it might not seem like it, that's a very good thing for penny stocks.

Inovio Pharmaceuticals Inc. (NASDAQ: INO) has more than doubled since we recommended it last month – a 139% gain for our readers.

The company just announced human trials for a coronavirus vaccine.

Believe it or not, that's not the only penny stock making moves today.