penny stocks to buy

The bull market seems to be back in full swing and penny stocks are seeing even more action than I had initially expected for this time of the year.  One thing that I think has helped with the whole “fear of volatility” has been the wild IPO market.  Just look at companies like Lyft (LYFT Report) and Beyond Meat (BYND Report). These are two totally different IPO’s with two totally different outcomes. But my point is that these are large-cap stocks that have been as volatile as penny stocks.

IPOs Could Signal Confidence

We aren’t talking about light trading volume either.  Yesterday, Beyond Meat made its public debut and opened up nearly 100% higher than its preIPO price of around $25 a share. By the end of the day, the stock had hit highs of $72.95 and traded over 23 MILLION shares. Friday, BYND stock continued higher and with the same aggressive buying momentum it saw when it IPO’d.

Lyft, on the other hand, saw a different result from its IPO.  After opening higher than its preIPO price, the stock actually ended up crumbling.  On IPO day LYFT stock traded over 70 million shares and close lower by more than 10% from its opening price…and it didn’t stop going lower until reaching $54.32.

Penny Stocks To Watch

My point is, these IPO moves aren’t 10-15% moves, they’re well over 50% and even more than 100% in just a day or two. The risk levels appear health in the broader markets, which could be a great sign for those looking to buy penny stocks. So, having said this, it’s no surprise that there are some big moves being made by a list of penny stocks on Friday:

EVINE Live Inc. (EVLV)

EVLV Stock made a move of more than 75% on Friday. The company secured a multi-million dollar strategic investment and exclusivity deal with The Invicta Watch Group. On top of this, its prior CEO, Time Peterman, made his return to the company’s helm. The deal specifics show that the company is selling $6 million in common stock at a price per share of $0.75. There are also commitments being made that would see EVINE (EVLV Report) receiv up to $25 million in investment.

Yuma Energy (YUMA)

This energy penny stock has been mentioned throughout the quarter for its periodic breakouts.  After running to highs of nearly $0.60 in late April, YUMA stock settled at lows of around $0.25. On Friday, Yuma Energy (YUMA Report) is rallying again, this time to early highs of $0.375.  There were no news catalyst out today that would warrant a move like this, however, because this is a penny stock to watch according to many, it isn’t surprising to see another move.  Trading volume has also increased on Friday.

Regional Health Properties, Inc. (RHE)

Another penny stock to watch this month, Regional Health Properties, Inc. (RHE Report) is running again on Friday. A lot of concern has been rising after the company has failed to file its annual report.  As of April 22, the company said it fully intends to file within 90 days so the clock is ticking.  In any event, this penny stock has managed to skyrocket to highs that were above the upper limit of the “definition of a penny stock” but have since seen RHE shares settle around $3.40 just before 2 PM.

Maxar Technologies Inc. (MAXR)

Maxar Technologies Inc. (MAXR Report) joins the list after rallying from lows of $4.89 on Wednesday to highs of $6.58 on Friday.  The company released some penny stock news that was well received by the public. Maxar announced that its insurance carriers accepted the company’s $183 million claim for loss that came from the WorldView-4 satellite. With this payment in the door, it looks like Maxar is ready to keep the ball rolling. It’s probably also pretty nice to not have a giant, 9-figure ding on your financials as well.

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 |

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Penny Stocks & What To Watch in the Stock Market This Week 1/30-2/3

What to watch in the stock market news headlines this week January 30, 2023 – February 3, 2023