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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV