3 Penny Stocks to Watch With High Volume Right Now
When it comes to trading penny stocks, it’s all about volume. If a stock has low volume, it may be difficult to enter and exit positions. This is also known as liquidity, which is the ability to buy and sell a stock. But, if a penny stock has high volume, the opposite is true, and buying/selling will be lightning fast.
While liquidity may not seem like a big deal, there is one component to it that can result in quick gains and losses. For example, if volume is very low, a stock may jump or fall significantly, with no indicators in between. This means that losses can accrue very quickly with little to no notice. But with high volume, we see penny stocks jump and fall with a great number of levels in between.
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When it comes to investing in penny stocks in 2021, we also have to account for the external factors impacting the market. This includes both the pandemic and the resulting high level of inflation.
While these are relatively short-term worries, they are undoubtedly affecting stock prices right now. But, rather than letting this inspire fear, investors can use this to their advantage. So keeping all of these factors in mind, let’s take a look at some of the hottest penny stocks to watch today.
3 Hot Penny Stocks to Watch Before Next Week
- Camber Energy Inc. (NYSE: CEI)
- Moving Image Technologies Inc. (NYSE: MITQ)
- Verb Technology Company Inc. (NASDAQ: VERB)
Camber Energy Inc. (NYSE: CEI)
While gains for CEI stock have been sparse throughout the past year, many investors are still hoping for an energy sector recovery. And given that CEI stock is a decent-sized energy penny stock, it could be worth watching. Only a day ago, Camber Energy announced a sizable $15 million investment from an institutional investor.
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With these funds, it should be able to embark on new acquisitions and fulfill its needs for corporate capital. While there was no notice of who the institutional investor was, it is always a positive sign when we see confidence in a company like this. At the same time, the company announced that it has extended the maturity date of its promissory notes from December of next year to January 1st, 2024.
“These transactions serve as significant catalysts for advancing Camber’s growth initiatives. The $15 million commitment by the institutional investor is encouraging and seemingly reflective of the confidence in Camber and our operations both short and long term. We are excited about the Company’s future and remain focused on forging a path toward profitability and increasing shareholder value.”
James Doris, the CEO of Camber Energy
With shares trading at an average volume of around 60 million right now as opposed to its usual average of around 9 million, we see a clear bullish interest in the company. Whether this is enough to make it a penny stock to watch, however, is up to you.
Moving Image Technologies Inc. (NYSE: MITQ)
After its IPO only a few days ago, shares of MITQ stock have since dropped by around 80%. As of Thursday, July 15th, MITQ stock is also just barely hovering around penny stock territory at around $5 per share. While this large decline is concerning, we often see major corrections following IPOs. And given that Moving Image Technologies only went public last week, this may not be as big of a deal as it seems.
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For some context, Moving Image is a manufacturer and integrator of technology used in entertainment. This technology is mostly in use for motion picture purposes and includes systems design, integration, enterprise software, digital cinema and more. In addition to this, it sells products for movie theaters such as cup-holders and other seating-aimed offerings.
While this may seem like a niche market, there are tens of thousands of movie theaters in the U.S. alone. And, with reopening well underway, more and more people are heading back into theaters. So, in order to consider MITQ stock a buy, investors should think about both the short and long-term prospects that it offers. And while shares may be quite volatile right now, MITQ stock could be worth watching once things begin to calm down.
Verb Technology Company Inc. (NASDAQ: VERB)
With sizable volume and almost 24% in gains by midday, VERB stock is on many investors’ radars right now. In the past few months, VERB stock has become associated with the meme stocks such as AMC Entertainment Holdings Inc. (NYSE: AMC) and GameStop Corp. (NYSE: GME).
On Thursday, July 15th, volume for VERB hit around 88 million by 11 AM, compared to its average of around 6.7 million. This is a sizable uptick and reflects both its placement as a meme penny stock and the interest investors are showing in the company. Yesterday on July 14th, Verb announced that it has partnered with Shop.com to create SHOP LIVE. This is a customized and interactive streaming channel dedicated to allowing individual franchise owners the opportunity to sell current products.
“Without a doubt, SHOP LIVE is the biggest and best tool we have ever released to the field. Think about it. As a UFO (UnFranchise Owner), I can invite a few of my friends to a fun and interactive virtual event. When they join the live event, I can talk about how I’m building my own business and show off some of my favorite products that we have just released.”
Marc Ashely, COO of Market America Worldwide
This is big news for the company and again puts it at the forefront of the e-commerce and entertainment markets. While it may take some time for this platform to become operational and profitable, it is an interesting prospect for investors to consider in the meantime. With this in mind, is VERB stock worth adding to your list of penny stocks to watch?
Are Penny Stocks Worth it in 2021?
The short answer to this question is that it’s completely up to your unique investing style. If volatility is something you’re interested in then penny stocks could be worth it for you. However, if you are more geared toward stable, long-term investments, other penny stocks could be better options.
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Regardless, there’s no doubt that there is plenty of opportunities to find value with penny stocks. But, it takes knowing where to look and what you’re looking for to do so. Considering this, are penny stocks worth it in 2021? The choice is yours.
