Here at Zacks, we encourage investors to follow our proven stock-picking system, which places a great deal of emphasis on the importance of earnings estimate revisions in order to identify winning stocks. However, we also always look to cover stocks, from S&P 500 powers to small cap-firms, when they make newsworthy moves.
With that said, we understand that stocks trading at a low dollar value can become eye-catching investments. One particular group of stocks that many investors tend to pay close attention to are those currently trading for $10 per share or less.
These stocks present retail investors with the opportunity to take a large position in a company. On top of that, these stocks are also often subject to major one-day swings, which means that these under $10 stocks can be some of the biggest movers on a daily basis.
With that said, let’s take a look at three companies trading for less than $10 per share that made sizable moves on Tuesday.
Stocks Under $10 That Surged Yesterday: Sunrun Inc (RUN)
President Donald Trump approved the long-speculated tariff on imported solar cells and modules on Monday. On Tuesday, shares of several U.S. based solar energy companies saw their stock prices climb.
Sunrun Inc (NASDAQ:RUN) is a residential panel installer, and it popped over 6% as investors began to realize that Trump’s new policy might not prove as devastating to installers as previously anticipated. RUN is also a Zacks Rank #1 (Strong Buy).
Stocks Under $10 That Surged Yesterday: Inovio Pharmaceuticals Inc (INO)
One day after Inovio Pharmaceuticals Inc (NASDAQ:INO) announced promising preliminary data for one of its drug candidates, shares of the small-cap biotech firm soared 22.63%.
On Monday, Inovio released preclinical data noting that its “synthetic vaccine approach using a collection of synthetic DNA antigens generated broad protective antibody responses against all major deadly strains of H1 influenza viruses from the last 100 years.”
Inovio is currently a Zacks Rank #3 (Hold) and could gain further traction if initial testing of its universal flu vaccine proves viable down the road.
Stocks Under $10 That Surged Yesterday: Nantkwest Inc (NK)
This pharmaceutical firm specializes in trying to utilize regularly produced “Natural Killer cells” to treat cancer. Nantkwest Inc’s (NASDAQ:NK) “off-the-shelf” NK therapy has been tested in phase 1 clinical trials in the U.S., Canada, and Europe.
Today, shares of this small-cap, clinical-stage immunotherapy company popped nearly 13%. Before these substantial gains, NantKwest had seen its stock price sink 26% over the last 52 weeks.
However, it seems that investors might have some renewed faith in the firm after its CEO, Dr. Patrick Soon-Shiong, presented at the 36th Annual J.P. Morgan (JPM) Healthcare Conference earlier this month.
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