Markets are closing on Friday the 13th after making a little recovery amid the most active week of trading since 1987. The coronavirus pandemic has led to a worldwide recession, as the global stock market suffered significant losses and the Dow Jones had a brief dip. While volatility is prevalent in bear market territory, now is the time to search for long-term Biggest Penny Stock Gainers with huge gains since penny stocks are even with the rest of the market.
Penny stocks trade for $5.00 or less, and are best suited for risk-tolerant investors alone. This is where we’ll investigate the five Biggest Penny Stock Gainers for today’s market.
March 13’s top 5 biggest penny stock gainers: Ramaco Resources (NASDAQ:METC)
Ramaco is a coal miner, based in Virginia and Pennsylvania. Ramaco is in a strong position to offer low-cost domestic metallurgical coal to U.S. blast furnace steel mills and coke facilities as well as metallurgical coal purchasers from abroad, and is taking advantage of recent market developments.
Technavio predicts that the metallurgical coal industry would expand by over $15 billion between 2020 and 2024 as steel demand grows. Slowing investments in the coal sector might challenge this growth, and market vendors should thus focus on fast-growing areas and preserve their positions in the slower-growing segments to profit fully from the increase.
Ramaco hasn’t said anything other than the 2019 financial and resource reports it recently provided, which were issued in February. Adjusted EBITDA increased 31% to $55.4 million, a new high, while coal output was 110% of the Platts Index, a gauge for mining corporations.
Despite these strong results, shares of METC dropped 30% between February 20 and March 12 to a historic low of $2.11, most likely due to the emergence of the coronavirus and a Russian-Saudi price war over oil. However, as of today, the stock has risen back above 20% to $2.54 with a daily short sell volume of 30.5%, which shows that short positions are liquidating in order to cover their bets.
Today’s Biggest Penny Stock Gainers: Ranger Energy Services (NYSE:RNGR)
Ranger is an independent company that offers conventional and unconventional horizontal well completion and production services in the United States. Other services are required to keep and maintain a well on production. Our solutions company sector is focused on providing the processing solutions for all kinds of MRUs, Natural Gas Liquid stabiliser and storage units, and associated equipment.
In reality, Ranger has only previously traded below $5.00 twice during the second half of 2018 and once during the latter part of 2018 before this week’s dramatic oil price drop. RNGR stock was trading at $7.00 on March 5, then crashed over 55% to $3.08 on March 11. After the volatility, it climbed back to $4.79 and may have appeared to investors as a great time to purchase.
Top 5 biggest penny stock gainers on March 13: Intrepid Potash (NYSE:IPI)
Diversified mineral corporation focused on the agriculture, animal feed, and oil and gas industries’ necessary potassium, magnesium, sulphur, salt, and water products. One of the few American producers of muriate of potash is also a leading market player in the utilisation of solar evaporation for potash production, which has led to lower costs and improved environmental sustainability.
For much of the past year, the IPI stock has been on a downward trajectory. This penny stock, which was trading at $3.54 exactly a year ago, is currently trading at $1.06 and has seen some of its steepest dips in recent weeks as the coronavirus spreads across the United States. IPI, on the other hand, has risen 15% today, making it one of the biggest penny stock gainers, after an insider predicted that the price will rocket to $8, testing $10 in the next six months. While such statements should be viewed with caution, they did raise interest in the stock, with volume nearly doubling between March 10 and 12.
Biggest penny stock gainers on March 13: Tilly’s Inc (NYSE:TLYS)
Tilly’s is a major specialty retailer of casual clothes, footwear, and accessories, with a comprehensive array of well-known worldwide, developing, and original brands for an active and sociable lifestyle. The corporation presently runs 229 total locations in 33 states.
As the coronavirus pandemic began to affect garment companies, Tilly’s stock has fallen as the demand for their products has been affected. On January 1, Tilly’s opened at $10.85 and quickly lost more than half of its value by the end of March.
However, the price bounced 15% with the Q4 earnings report yesterday, which surpassed expectations. In this case, the effect would be temporary and lasting profits for speculators counting on an earnings beat, as well as losses for those in the apparel luxury goods industry in a downturn market.
Denver-based Sundance Energy is an independent energy exploration and production firm. Currently, the company is focused on acquiring and developing significant, repeatable oil and natural gas resource plays in North America, especially in the Eagle Ford Shale in Texas.
This stock had fairly unique action in November when it redomiciled from Australia to the US. The stock price jumped from $1 to $22.47 on December 24 despite a substantial decline in trading activity. Sundance carried performed a reverse stock split in order to trade on the Nasdaq. Since then, SNDE stock has fallen back into penny stock territory, after its CEO predicted slower growth, decreased production, and eventually a reduction in oil prices.
Today, the stock of SNDE has risen by 7%, now trading at $2.03. This has occurred despite oil prices lingering around $30 per barrel. Furthermore, Q4 earnings are anticipated to be released on March 16, which could support bullishness despite decreasing oil prices.
Top 5 Biggest Penny Stock Gainers on March 13: Sundance Energy Inc (NASDAQ:SNDE)
Sundance Energy is a Denver, Colorado-based independent energy exploration and production firm. The company’s present activities in the Eagle Ford Shale in Texas are focused on the acquisition and development of big, repeatable oil and natural gas resource plays in North America.
When this stock redomiciled from Australia to the United States last November, it saw some odd action. Despite a massive decline in traffic, SNDE surged from a low of $1.00 on November 21 to a high of $22.47 on December 24. Sundance actually did a reverse stock split to be able to trade on the Nasdaq, albeit it was never publicly publicised. After its CEO told investors that the US move will lead to slower growth and, eventually, output declines, SNDE stock has plummeted back into penny stock territory, and this was before the drop in oil prices.
Despite oil prices currently hovering just above $30 per barrel, SNDE stock has risen around 7% to $2.03 after the company announced its current hedge book, which covers a total of 7,931 barrels of crude oil per day (or 2,181,000 barrels total) at a weighted average floor price of US$54.08 per barrel. On March 16, the company will report its fourth-quarter earnings, which might help keep the bullishness going in the face of decreasing oil prices.
Conclusion
The top five biggest penny stock gainers on March 13th. In some situations, despite the difficult economic conditions, these stocks have real capacity to prosper, while in others, the upward rise is the consequence of short squeezing or short-term news that is unlikely to maintain the company in a down market. Regardless, with the appropriate combination of timing and knowledge, the current environment presents lots of opportunities for penny stock investors.