By Matthew Makowski Penny stocks can be a risky bet. But with that risk comes the potential for high reward. And biotech penny stocks have been some of the most rewarding in 2020.
The hunt for a coronavirus vaccine has propelled former penny stocks into the big time. For instance, Novavax, Inc. (Nasdaq: NVAX) was trading under $5 at the beginning of 2020. Then came the news that it was rolling out clinical trials for a Covid-19 vaccination.
The news propelled the stock price upwards. And the good news continued for those who had already invested in the company. It got a $1.6 billion injection …read more
