Ring develops, produces, and explores for oil and natural gas in Texas and New Mexico. Net income for the latest quarter was about five times the level of the prior-year quarter and revenue nearly doubled to $94 million as a result of higher sales volumes and oil prices.
GrafTech makes graphite electrodes used in the production of ferrous and nonferrous metals. The company on Nov. 18 announced plans to restart its Monterrey, Mexico operations following a temporary suspension notice issued on Sept. 15 for violating state environmental regulations.
Conduent sells human resources and other business services to customers in the industrial, transportation, and government sectors.
Low Liquidity: Penny stocks often trade on thin volume, meaning it can be difficult for investors to enter and exit their positions. Moreover, these stocks typically have a wide spread between the bid and ask, which increases trading costs.
Extreme Valuations: Penny stocks that start moving rapidly higher in price show up on stock screeners and may even get media attention. This often attracts more speculators who push prices up even higher, leading to unstainable valuations.