WINDERMERE, Fla. ( Stockpickr) -- There isn't a day that goes by on Wall Street that certain stocks trading near or under $10 a share don't experience massive spikes higher. Traders savvy enough to follow the low-priced names and trade them with discipline and sound risk management are banking ridiculous coin on a regular basis.
Just take a look at some of the hot movers in the under-$10 complex from Wednesday, including Renewable Energy Group (REGI), which ripped higher by 27%; Lee Enterprises (LEE), which soared by 19.5%; LoJack (LOJN), which trended up 19.4%; and Alliance Healthcare Services (AIQ), which closed up 18.2%. You don't even have to catch the entire move in lower-priced stocks such as these to make outsized returns when trading.
One low-priced stock that I flagged recently that went on to explode higher was Savient Pharmaceuticals (SVNT). On last Friday, I highlighted SVNT in " 5 Stocks Poised for Breakouts" at around 77 cents. I liked the way SVNT was setting up to take out some overhead resistance levels, and I liked the way the upside volume was expanding dramatically.
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