4 Penny Stocks To Buy Or Sell Before Next Week
I hope you’ve prepped yourself for the volatility that the markets have thrown our way lately. Penny stocks certainly have seen their share of big swings recently and that means money is being made. But the question now is: are YOU the one making money with penny stocks? It can be difficult to find the best penny stocks to buy. But a calm head and battle-tested strategy are great tools to have that should help you beef up your success ratio.
While it’s easy to simply find someone on Twitter or Facebook to follow and have them tell you which penny stocks to buy, you don’t learn anything. To become a consistently profitable trader, you should learn, practice and profit based on what you teach yourself or are taught by another successful trader; not just trade based on what someone else tell you to. In this case, the whole “teach someone to fish” ideology does hold a place in trading. So, I think that’s very important.
How To Make Money With Penny Stocks
Once you have a strategy, however, you can more comfortably put together a list of penny stocks to watch and understand how to make money with them. The market volatility is what has created these big swings in price to capitalize on. But there’s something about penny stocks that sets them apart from the rest of the market. That “something” is the fact that they tend to move outside of the general, broad market parameters.
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That’s to say, in a case like today where the S&P declined 3.5% from its opening level, a penny stock like Youngevity (YGYI-Free Report) managed to jump over 170% from its opening bell price on April 7. But this wasn’t the only penny stock to break out like that. In fact, as you’ll see on this list of penny stocks, small and micro-cap equities were some of the top-performers this month. Will they remain the best penny stocks to buy this week? That’s up to you
Best Penny Stocks To Buy [or avoid]: CbdMD Inc.
As with all things “hype-based,” the coronavirus has created a whole new line of “crazy” when it comes to companies figuring out how they can fold the words into headlines. This morning, the latest comes from CbdMD Inc. (YCBD-Free Report). What does the company do? If you couldn’t guess it from the name, it sells CBD products. Before you start figuring out how CBD can be used to treat coronavirus, let me tell you about the latest news from CbdMD.
The company announced on Wednesday that it’s going to offer free hand sanitizer with a purchase from the company’s website. CbdMD also said that it “intends” to begin manufacturing alcohol based sanitizer products. These won’t contain CBD either. If you’re worried about your skin drying out from all that alcohol-based sanitizer, CbdMD made a point to report that it will be providing sale of its “Revive” cosmetic hand moisturizer to “provide comfort to the hands of those who follow the CDC recommendations for frequent hand washing.”
Am I making this up? No, it’s in the latest press release. Needless to say, shares of YCBD stock are flying during premarket trading. The penny stock reached highs of $1.25 so far.
Best Penny Stocks To Buy [or avoid]: SuperCom
Another one of the coronavirus penny stocks that ha emerged as one investors are watching: SuperCom (SPCB-Free Report). Recently the company has been applying it tracking devices to the growing concern of COVID-19 and the potential spread. Its PureHealth platform is designed to help governments combat the spread of the virus through location tracking. But aside from simply putting an ankle monitor on someone or a chip in their phone and calling it a COVID-19 tracker, SuperCom also focuses on other applications too.
This week the company announced that it secured a new $1 million e-Gov order from a “national government customer”. According to SuperCom, there’s potential to increase the order to a total of $2 million. The company will provide a number of solutions from its portfolio and could allow further expansion for additional e-Gov opportunities.
“This new win with an existing customer demonstrates not only the additional revenue opportunities within our current customer base, but also the continued relevance and demand for our solutions even during the global COVID-19 crisis, affecting most countries around the world. This particular customer has been with SuperCom for many years, has renewed with us several times, and now granted us a new order resembling growth and confidence in our relationship,” commented Arie Trabelsi, President and CEO of SuperCom.
Best Penny Stocks To Buy [or avoid]: Happiness Biotech
Happiness Biotech (HAPP-Free Report) shares took off during premarket on Wednesday. But unlike CbdMD, Happiness Biotech has a business model that could include a product like this, in my opinion. According to its latest update, the company received a CE certification for disposable hand sanitizer and began exporting this week. Keep in mind that Happiness Biotech is a China-based company so exporting locations will be outside of China. This includes Malaysia, Australia, and Poland right now.
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According to the company, the first 7 containers of 500,000 bottles have been shipped already. Happiness has been focused on building a product portfolio to meet the needs that coronavirus has created. It has 4 lines of disposable hand sanitizer that are in production and pumping out 200,000 bottles per day.
“As previously announced, we applied for CE certification in Europe and FDA certification in the U.S. for our epidemic prevention products. Obtaining the CE certification from ISET for disposable hand sanitizer is a great start and we expect to receive more certifications for our products in the near future. The COVID-19 has become a global disaster and caused a shortage of all kinds of supplies, especially prevention related materials. Again, as a public company in the U.S., we hope that we can be a part of the global efforts to combat this pandemic.” said Mr. Xuezhu Wang, CEO of the Company.
Best Penny Stocks To Buy [or avoid]: New York Mortgage Trust
The REIT sector has been slowly recovering after getting slashed over the last few weeks. The biggest concerns have been whether or not these companies could thrive in the current environment. New York Mortgage Trust (NYMT-Free Report) once traded above $6 this year. After hitting lows of $0.98, the penny stock has steadily recovered.
The company has a total portfolio of about $3 billion. This week, shares of NYMT stock turned higher after the company’s latest announcement. Addressing the previously mentioned concerns, New York Mortgage reported that it has improved its liquidity position and is current with its payment obligation. This includes any potential margin calls. This news was a big positive in the market and so far, NYMTT stock has rallied back above $2 during premarket trading on Wednesday.
Steven R. Mumma, the Company’s Chairman, and Chief Executive Officer said, “Since March 30, 2020, the date of the Company’s last market update, the Company has made significant progress in strengthening its liquidity position. Due to this progress and certain of the portfolio management decisions noted below, the Company is current with its repurchase agreement payment obligations, including margin requirements, and is no longer in a position to need forbearance agreements from its repurchase agreement financing counterparties.”