With the right investment, small-cap and micro-cap stocks can provide handsome returns. Needless to say, making the right investment is easier said than done, and the wrong investment can yield significant losses.
In the month of May, two penny stocks emerged that look very promising— medical technology company, ConforMIS and mobile app advertising platform, Digital Turbine.
ConforMIS Jumps 1027% in 2019
One of the biggest penny stock gainers of 2019 has to be ConforMIS. The price of the stock jumped from $0.36 at the first of January to $4.06. Since early May along, CFMS stock has gained 45%. This followed impressive quarterly earnings.
The medical tech company posted its Q1 2019 results last month, and although they posted a loss, the reports were not discouraging. Conformis is engaged in both the development and sales of join replacement implants, as well as customized knee replacement systems.
They reported about $7.6 million in losses for the quarter. Yet, last week the stock reached a new 52 week high at $4.36.
Digital Turbine Makes Big Moves
Another big 2019 player is Digital Turbine (APPS). After the company— which is involved in monetizing mobile apps— posted its fourth quarter fiscal earnings, the market jumped. The stock went up 16.50% and closed at $4.29 on June 4th. Since the beginning of the year, APPS has climbed almost 125% and hit a multi-year high of $4.40 in a recent session.
The revenues generated by Digital Turbine have beat analysts’ expectations— with revenues rising as much as 30% to $27.2 million. Earnings per share were originally estimated to be $.02, but stood at $.03.
Digital Turbine attributes the revenue increase to partnerships with large U.S. based carriers.