Hot Penny Stocks are all about big moves!
We’ll cover a couple of penny stocks that are moving much higher over the past week. In addition, you’ll leave knowing why there’s such a big move.
And telling you what and why is barely worth your time. So we’ll give you our recommendation as to where the stock is headed next.
This week’s Hot Penny Stocks are: Crossroads Systems (CRDS), Glue Mobile (GLUU)
Crossroads Systems (CRDS)
Crossroads Systems sells data protection solutions and services. The company’s products include StrongBox, a network attached storage solution for long-term archive data. CRDS’s other main product is SPHiNX… a product providing data protection from the desktop to the data center.
In just the past week, shares are up over 34%.
Revenue for Q1 2013 increased 38% to $3.6 million from $2.6 million in the same quarter a year ago. Also, the company cut its workforce by 30 employees… down to 99 total.
Crossroads is looking like a buy opportunity here. After nearly a month of consolidation around $1.50, shares have started a sharp move higher. In addition, CRDS is taking the appropriate steps to save themselves long-term expense… hence increasing profitability.
And that, in addition to revenue growth, is something shareholders should benefit from.
Glue Mobile (GLUU)
Glu Mobile designs, markets, and sells mobile games worldwide. It develops original games including names such as Big Time Gangsta’, Blood & Glory, Bug Village, Contract Killer, Contract Killer: Zombies, Eternity Warriors, Frontline Commando, Gun Bros, Men vs. Machines, Stardom: The A-List, Super K.O. Boxing and Toyshop Adventures.
Other GLUU games based on licensed intellectual property include Build-a-lot, Call of Duty, Deer Hunter, DJ Hero, Guitar Hero, Family Feud, Family Guy, Lord of the Rings, Paperboy, The Price Is Right, Transformers, Who Wants to Be a Millionaire?, and World Series of Poker.
Over the past week, shares shot up a whopping 42%!
Why the move?
GLUU share were upgraded by Northland Capital Markets analyst Darren Aftahi. HE raised his rating on the gaming company to outperform from market perform. His price target is $4.50 based on better-than-expected sales of smartphone games.
This is a HOT buy! Certainly no one wants to miss out on a 42% move to the upside, but shares have made a double bottom and look to continue filling gaps in the chart to the upside. With another $1.50 before shares hit the latest price target, investors could see an additional 50% gain when buying right now.