penny stocks to buy under $4 right now

These 3 Penny Stocks Can Be Bought For Under $4 But Are They A ‘Buy’ Now?

Penny stocks are often sought after by investors looking for cheap shares. While price shouldn’t be the only reason for investing in penny stocks, it definitely is an attractive feature. When the broader S&P goes up or down, for example, most penny stocks will tend to trend on their own accord.

However, there are always exceptions to the rules. For instance, when we saw the energy sector drop, most oil & gas penny stocks followed the sector trend. Similarly, we’ve seen plenty of gold penny stocks follow along with the gold price trend recently. Needless to say, these cheap stocks are always attractive to day traders and swing traders looking to take advantage of short-term moves in price.

Read More

We talked about analysts earlier this week. As opposed to what popular opinion may suggest, there are plenty of stocks under $5 that garner analyst attention. There are also plenty that attract large hedge funds from time to time. We saw that this week when OrbiMed Advisors took a 77.7% position in Xtant Medical Holdings (XTNT Stock Report).

XTNT was a stock under $1 at the time the filing was released. So whether or not you actually like penny stocks is irrelevant to the fact that plenty of people are making money with them on a daily basis. One of the biggest factors separating the ones who trade penny stocks and those who avoid them is a strategy.

Can You Make Money With Penny Stocks?

I’ve seen plenty of traders go in blindly buying penny stocks without understanding why they’re moving or what happened prior to the move. You should have a general understanding of how to trade volatile stocks. It also wouldn’t hurt to know how to read a stock chart and trade based on technical indicators either.

The bottom line, treating penny stocks like lottery tickets will likely yield the same results at the same frequency. On a side note, if you’re making money with lottery tickets every day, please let me know and I’ll gladly take your class. With this in mind, let’s take a look at some penny stocks to buy for under $4.

However, keep in mind that just because they can be bought for under $4, it doesn’t mean they’re the best penny stocks to buy right now. At the end of the day, you decide if it’s time to pull the trigger or not.

Penny Stocks To Buy Under $4: Nano Dimension Ltd.

Nano Dimension (NNDM Stock Report) was a big mover this week and definitely was one day traders made money with. But it was exactly that, something for day traders. What happened with NNDM stock? Earlier this week, it caught attention after the company announced that it and HENSOLDT achieved a major breakthrough on its way to utilizing 3D printing. Specifically, it’s in the development process of high-performance electronics components.

According to the company, until now, 3D printed boards could not bear the soldering process necessary for the two-sided population of components. As a result of a lower float, the penny stock’s news catalyst, and further speculation, NNDM stock ran from $1.24 to highs of $4.89 in a 24 hour period. But then it was almost if the company wanted to upset its happy shareholder base.

[Read More] Psychedelic Penny Stocks To Watch Amid The Mushroom Boom

The company immediately followed this big news with a $35.9 million, 17.95 million share offering. That translates to an average price of $2 a share. So obviously the market didn’t react in favor of this news; shares dropped. The company said it plans to use the net proceeds for working capital and for other general corporate purposes. The closing of the offering is expected to take place on May 22. Unlike a number of deeply discounted offerings, NNDM stock hasn’t fallen to or even below the $2 offering price (yet). Is this a sign that the worst is over or is the worst yet to come?

penny stocks to buy sell $4 Nano Dimension (NNDM Stock)

Penny Stocks To Buy Under $4: Menlo Therapeutics

Shares of Menlo Therapeutics (MNLO Stock Report) have been in a very consistent uptrend ever since hitting 52-week lows of $1 in April. At that time, MNLO stock was finishing up a massive downturn. It was when shares dropped from highs of over $12.60 just a few months earlier. What caused the breakdown? The company reported bad results in a mid-stage trial of its Serlopitant in patients with chronic pruritus associated with psoriasis. A failed trial can be the death of a biotech company and MNLO stock reflected something pretty close to that in a 92% drop in share price.

Since then, however, MNLO stock has been one to watch. While it hasn’t been a sporadic, parabolic runner, the move has been methodical and consistent. Over the last few weeks, the penny stock managed to climb to highs of $2.25 and recent volume has been well-above-average. Analysts have also begun to take bullish outlooks on MNLO. Northland Capital recently initiated coverage on the company giving it an Outperform rating. The firm also issued a price target of $3.50.

What’s next for Menlo Therapeutics? Menlo’s PDUFA date is coming up soon. The FDA assigned a target action date of June 2 for its FMX103. According to the company, “If approved, this product will be our second commercial launch in 2020. Additionally, our Phase 2 study for FCD 105, our combination product containing minocycline plus the retinoid adapalene remains on track for the data readout later this quarter.”

penny stocks to buy sell $4 Menlo Therapeutics  (MNLO Stock)

Penny Stocks To Buy Under $4: Biocept Inc.

This week Biocept Inc. (BIOC Stock Report) announced that Michael W. Nall, Biocept President and CEO, will participate on the panel “COVID-19 Testing & Susceptibility – Clearing the Air”. This is hosted by Maxim Group and M-Vest being held on Wednesday, May 27.

Read More

The panel will include an interactive discussion moderated by Jason McCarthy, Ph.D., Maxim Group Senior Managing Director, Biotechnology.  Among the topics to be discussed are the availability of COVID-19 testing and types of testing.  The event is being held as the second installment in Maxim Group’s COVID-19 Virtual Conference Series. As we’ve come to know, Biocept isn’t a stranger to big moves.

Back in January when we first started following the company this year, Biocept was focusing on its Target Selector™ to evaluate cerebrospinal fluid of patients. Specifically, it was for patients with breast or lung cancer suspected of brain or nervous system metastases. Of course, as a testing company, Biocept began focusing on COVID-19 testing as well. Since mid-January, BIOC stock has managed to climb from $0.33 to highs of $0.789. After pulling back in March, BIOC is once again in an uptrend. Will that continue through the rest of the month?

penny stocks to buy sell $4 Biocept Inc. (BIOC Stock)

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