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3 Penny Stocks To Buy For Under $3 But Are They Worth The Risk?

Are you looking for penny stocks to buy now? What matters the most? Some traders think that price is the first thing to look at. I’m sure many would disagree with this but at the end of the day, we are talking about penny stocks, of course. So obviously price matters at least a little bit. Based on the standard definition of penny stocks, any list will begin with stocks under $5. From there I would say that volume is the second most important factor to take account of. Furthermore, if you find a strong trend – daily, weekly, hourly, etc – is also something to be well aware of.

Then again, different things are more or less important to certain traders. Those finding ways of how to invest in penny stocks may place less value in “momentum” as they do in fundamental developments. On the flip side of that, day traders might care very little about what a company actually does and, instead focus on trading volume and technical analysis. At the end of the day – trading or investing in penny stocks – the goal remains the same:

Make Money With Penny Stocks & Repeat The Process

It seems simple, I know. But it does take time, education, and emotional fortitude to make the best trades. If you’re just getting started and want to learn how to trade penny stocks, we’ve got a free book for you to download. If you’ve already got your strategy in place, then it’s time to put your watch list together. Are any of these stocks under $3 on it right now? Also, just because they’re low priced, are they worth the risk?

Penny Stocks To Buy Under $3: Drive Shack Inc.

The last three trading sessions for Drive Shack Inc. (DS Stock Report) have experienced much higher trading volume with the last 2 seeing big price appreciation. The company announced this week that it sold its Rancho San Joaquin golf course in California, to a private investment group for $34 million. American Golf, a subsidiary of Drive Shack Inc., will continue to operate the facility under a management agreement.

While the company has a similar model to another driving range entertainment company, Top Golf, Drive Shack has expanded its vision. Proceeds from the sale will be used to finance the next phase of the company’s strategic growth plan, including Drive Shack New Orleans and the launch of The Puttery Dallas in 2021.

“This is a key milestone in our long-term strategic financial plan focused on providing capital to fund a path to operating 50+ Puttery venues by the end of 2024.”

Chief Executive Officer, Hana Khouri

Since making the headlines, DS stock has been in rally mode. While it comes as a warm welcome to traders who’ve been in the stock for a while, you’ve got to observe a few things right now. The foremost is how much DS stock has climbed in the last 3 days; 72%. With this as the only catalysts will new highs be in the forecast or is it set to slide back later this month?

penny stocks to buy under $3 Drive Shack Inc. (DS stock chart)

Penny Stocks To Buy Under $3: NewAge Inc.

NewAge Inc. (NBEV Stock Report) has been on the radar for weeks, now. The company made a transition from a cannabis-centric model to a more omnichannel brand approach. Since late September, NBEV stock has been in a clear and consistent uptrend. What’s more, is that volume hasn’t necessarily been unusually high. However, the price has managed to jump over 60%.

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What’s happened during this time to prompt such a move? NewAge has been expanding both its offering and global footprint. Meanwhile, the plan remains to be closing its ARIIX acquisition by the end of next month. If you’re just beginning to follow this company, NewAge expects to capture approximately $20 million in additional annualized EBITDA in the first 18 months following closing. NewAge said it has already identified more than $10 million in annualized synergies to be implemented this year from the combined group.

In the meantime, the company has continued demonstrating a focus on this expansion. Earlier this month, NewAge reported that it began building its market share in Brazil. This would be part of one of the revenue synergies with ARIIX. While the market waits for this deal to close, NewAge’s DSD division, just added ZenWTR to its portfolio. The company said it’s on track to record double-digit organic growth in 2020 over 2019.

penny stocks to buy under $3 NewAge Inc. (NBEV stock chart)

Penny Stocks To Buy Under $3: Hancock Jaffe Laboratories Inc.

Hancock Jaffe Laboratories Inc. (HJLI Stock Report) Is another one of the penny stocks we’ve followed for a few months as well. The majority of that time, HJLI stock has traded in a relatively tight range between $0.30 and $0.50 with a few spikes here and there. The company itself focuses on cardiac and vascular health. Its VenoValve has been the main point of importance recently.

Earlier this month, Hancock announced that it engaged Syntactx LLC to help with VenoValve’s clinical trial. The company is now preparing a Pre-IDE submission for the FDA. It expects to meet with the FDA in the late fourth quarter of 2020 or early first quarter of 2021 to discuss several issues related to the VenoValve U.S. pivotal trial. The IDE application seeking approval from the FDA for the U.S. pivotal trial is expected to be filed in Q1 of 2021.

This week could mark a pivotal moment in the company’s history. Late Wednesday afternoon the company annoucned one-year follow-up data on its 9th VenoValve patient.

“It is remarkable for a patient who had severe chronic venous insufficiency to be completely pain free one year after VenoValve surgery…Thus far, our results have far exceeded our expectations.”

Dr. Marc H. Glickman , Hancock Jaffe ‘s Senior Vice President and Chief Medical Officer

The company now continues monitoring 2 VenoValve patients in Columbia as it prepares for these next steps. Will HJLI stock continue higher following these latest headlines?

penny stocks to buy under $3 Hancock Jaffe Laboratories Inc. (HJLI stock chart)


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