Investors chasing stellar returns and low entry costs often turn to penny stocks to bolster their returns.
However, it’s incredibly difficult to identify which of the 2,800 penny stocks trading on the major indexes are worth buying. Most lack the solid financials that define winning investments.
In order to help Money Morning readers find the top penny stocks to buy right now, we’re taking a close look at last week’s hottest stocks.
By looking at the top penny stocks from last week, we can identify the investment trends that are driving penny stock gains. We can use that to determine what kind of penny stocks are on the verge of jumping next.
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And after looking at last week’s top penny stocks, we’ll show you a penny stock that’s riding the most recent investment trend in penny stocks – putting it on the cusp of generating huge profits for shareholders.
Here are last week’s top-performing penny stocks:
|Penny Stock||Sector||Current Share Price||Last Week’s Gain|
|Cocrystal Pharma Inc. (NASDAQ: COCP)||Healthcare||$2.74||55.39%|
|Eyegate Pharmaceuticals Inc. (NASDAQ: EYEG)||Healthcare||$0.53||49.97%|
|Tahoe Resources Inc. (NYSE: TAHO)||Basic Materials||$3.38||42.42%|
|iPass Inc. (OTCMKTS: IPAS)||Technology||$2.01||40.88%|
|Eastman Kodak Co. (NYSE: KODK)||Consumer Goods||$4.09||31.07%|
|Æterna Zentaris Inc. (NASDAQ: AEZS)||Healthcare||$2.89||28.32%|
|Diversicare Healthcare Services Inc. (NASDAQ: DVCR)||Healthcare||$4.51||27.94%|
|Real Goods Solar Inc. (NASDAQ: RGSE)||Industrial Goods||$0.57||27.93%|
|ZIOPHARM Oncology Inc. (NASDAQ: ZIOP)||Healthcare||$3.09||27.49%|
|Black Box Co. (NASDAQ: BBOX)||Technology||$1.06||21.84%|
As you can see above, the healthcare and tech sectors supplied the vast majority of the week’s gains.
And most of these healthcare companies are pharmaceutical firms targeting an incredibly lucrative industry.
You see, Americans file roughly 4.5 billion prescriptions a year for pharmaceutical drugs – an increase of nearly 100% over the last 20 years.
And the industry is expected to expand by an additional 5% in 2019. That’s an additional 225 million prescriptions.
While pharmaceutical stocks are bound to benefit from this growth, we can’t be certain which stocks will benefit the most.
That’s why we’ve identified a top penny stock that’s on track to generate immense profit from this growing industry no matter how each pharmaceutical stocks performs.
It’s a name-brand company on the verge of tremendous growth. And it’s only trading for $1.12…
The Top Penny Stock to Buy Right Now
Rite Aid Corp. (NYSE: RAD) is a national drugstore chain known for providing both over the counter medicine and prescription pharmaceuticals.
However, the stock’s decline has created a spectacular buying opportunity.
Earlier this year, Rite Aid received federal approval to move forward with a proposed merger with Albertson Companies Inc., a privately owned American grocery conglomerate.
Albertsons is currently the second largest supermarket chain in North America, controlling 1,075 stores under various brands across the United States.
The merger has created a tremendous growth opportunity for Rite Aid, which will be able to use Albertsons to expand its distribution network and reach a larger customer base.
The potential for expansion has analysts giving Rite Aid a high price target of $1.75 – a 56% gain over today’s share price of $1.12.
That’s a strong return. However, if you’re looking to make real money, then you have to check this out…
You Could’ve Transformed $1,000 into Massive Amounts of Money with This Strategy – but It’s Not Too Late
Imagine being able to invest in winning stock after winning stock… then rolling your winnings into more and more stocks, also only heading north.
That would quickly add up to be enough to spend the rest of your life just living on the interest on your winnings.
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