best penny stocks to buy right now

Trading penny stocks has the unique advantage of being extremely volatile. It allows penny stocks to have large gains in short spans of time bringing investors more potential profits. However, there is a dark side to investing in penny stocks, the risk. You can lose money just as fast as you can gain it if you do not do proper research.

Cheap stocks can be difficult at times due to the large amount of them available. On top of that, not all penny stock companies disclose financial records and are considered defunct. This is why we have created a list of penny stocks for you showing that even with high volume, these stocks can reverse course quickly.

Penny Stocks To Buy Or Avoid Like The Plague; Your Move

Do you want to add these to your penny stocks watchlist? After today, the choice is up to you. Honestly, I figured that as much as we write about breakout penny stocks, it’s just as important to know the other side of these cheap stocks as well:

Westwater Resources Inc. (WWR)

One of the stocks making noise on October 15th was Westwater Resources Inc. (WWR Stock Report); you’ll see why. Westwater Resources develops mineral resources that are essential for clean energy production. The company is currently focused on creating an advanced battery graphite business. In addition, Westwater has dominant mineral rights positions for lithium and uranium deposits.

The company announced that it received its first shipment of graphite concentrate from its recent purchasing agreement. This is significant because it allows the Westwater to advance to the next step in its graphite business plan. As a result of this news, the company has made a 52-week volume high and ran up 217% from its previous close. The stock’s price rose from $2.91 all the way to $9.25.

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But it’s also important to note that the difference in price has a lot to do with shares gapping up on Tuesday morning. Sure, if you bought on Monday and rode it out, it was amazing. But if this was one of the penny stocks on your morning watchlist, WWR stock opened at $7.55. From the open, it was a 22% move but then the stock tumbled back down to as low as $4.51. Can it bounce this week or should it completely be avoided?

penny stocks to buy or avoid Westwater Resources (WWR)

NIO Inc. (NIO)

When thinking about NIO Inc. (NIO Stock Report), think of China’s Tesla. NIO is China’s premier electric vehicle producer and also offers additional charging solutions for its customers. The company currently produces 3 cars. Two are SUV’s and the other is one of the fastest electric cars in the world, NIO EP9.

Right as the opening bell rang, NIO’s stock price had already jumped 7.5%. Since that point, the penny stock held a 3.6% gain. Furthermore, the stock is trading with above-average volume which is contributing to increased volatility to NIO stock price.

It should be interesting to see where this company goes given recent trade talks between the US and China. Furthermore, like WWR, NIO quickly pulled back from morning highs. As the stock continues to trade near all-time lows, will it be able to recover and could some good China trade news help propel it?

penny stocks to buy or avoid Nio Inc. (NIO)

Taronis Technologies Inc. (TRNX)

The final company garnering investor’s attention is Taronis Technologies Inc. (TRNX Stock Report). This technology company offers technology solutions to address problems with renewable fuels and sterilization. The company owns a plasma arc technology that can gasify liquids into sustainable, green metal-cutting gas.

In the middle of October 15th’s trading session, Taronis Technologies issued a joint statement with TA Group regarding its business in Turkey. Initially, it looked as if the stock was going to have a bad day but this news turned that assumption on its head. The stock rose by as much as 15% and is currently trading at $1.76. But don’t count this possibility out quite yet.

TRNX stock was one we’ve written about in the past before it did a reverse split. After rallying as much as 42% from $1.24 premarket lows, TRNX pulled back as low as $1.35 in the afternoon. Though this is still up from its previous lows, it’s considerably lower than the morning high. Can it rally later in the week or is the current bear trend going to continue?

penny stocks to buy or avoid Taronis Technologies (TRNX)

How Long Should I Hold Penny Stocks?

This is a great question especially if you’re new to trading, in general. Though there’s no straight answer or this question, there are a few things to understand that may help. The question itself is subjective to the stock you’re buying. In the example of these three penny stocks, you may have had only a small window to buy and sell if you’re a day trader.

Others may look at these stocks and still see more opportunities, though the charts aren’t making for a great argument at the moment in my opinion. But we aren’t here to tell you when to buy, sell, or hold penny stocks. It’s my job to make you aware of different “happenings” in the small-cap world. In the end, the choice is up to you.

As it’s outlined in this article, holding a penny stock doesn’t have a set timeline. As you can see from this and other articles, some penny stocks rally for days or months. Others may break within a few minutes and immediately pull back. This is the volatility we’ve all come to know. The main point is to make money with penny stocks. So, depending on your risk tolerance, the holding period is based on your own, individual trading strategy.

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