Cerus and 2 Other US Penny Stocks to Watch in 2024

In the ever-evolving landscape of the stock market, penny stocks often present an alluring opportunity for investors seeking high returns. While these stocks come with inherent risks, astute investors can capitalize on their potential by closely monitoring market trends and identifying promising candidates. In this article, we explore three US penny stocks that have demonstrated significant potential in recent months: Cerus Corporation (CERS), Absci Corporation (ABSI), and Hyliion Holdings Corp. (HYLN).

Cerus Corporation (CERS) is a US-based biopharmaceutical company that specializes in pathogen reduction technologies for blood safety. The company's INTERCEPT Blood System, which is approved in both Europe and the US, is the only pathogen reduction system for platelets and plasma. This unique position in the market has contributed to Cerus' steady revenue growth and strong earnings potential. As of July 26, 2024, CERS is trading at around $1.50 per share, with a 30-day return of 12.5%. The company's market capitalization of $745.3 million indicates a more established position compared to other penny stocks.

Another promising penny stock is Absci Corporation (ABSI), a biotechnology company that uses artificial intelligence (AI) and synthetic biology to create protein-based drugs. ABSI's innovative approach to drug discovery has contributed to its strong performance in recent months. With a 30-day return of 13.4% and an average daily trading volume of 2.18 million, ABSI has shown signs of improving demand and a potential breakout above $6.72. The stock is currently trading at $4.48 per share.



Hyliion Holdings Corp. (HYLN) is another US penny stock that has demonstrated significant potential. The company manufactures hybrid and electric powertrains for trucks, addressing the growing demand for sustainable transportation solutions. HYLN's stock has shown signs of a bullish trend reversal, rallying above its March swing high of $1.96 and establishing support around the 50-week line. With a 30-day return of 46.9% and an average daily trading volume of 393.32 million, HYLN has proven to be a strong performer in the recent market.

Investors should be aware that penny stocks, while offering high potential returns, are inherently risky due to their volatility and minimal regulatory oversight. To mitigate these risks, investors should diversify their portfolios, stay informed about company-specific news and market trends, and consider alternative investments. Setting stop-loss orders can also help limit potential losses.

In conclusion, Cerus Corporation (CERS), Absci Corporation (ABSI), and Hyliion Holdings Corp. (HYLN) are three US penny stocks that have demonstrated significant potential in recent months. While these stocks come with inherent risks, their unique positions in their respective markets and strong financial performances make them worthy of investors' attention. By closely monitoring market trends and staying informed about company-specific news, investors can capitalize on the potential of these penny stocks while managing the associated risks.