best penny stocks to buy right now today

3 High Volume Penny Stocks You Might’ve Overlooked Today

Putting together a list of penny stocks right now? You might want to pay attention to certain trends in the stock market today. Granted there remains economic uncertainty due to more COVID cases and lack of stimulus. But you’ve also got to consider other factors at play. The Presidential election is near and that means some of the hottest topics debated upon will be in focus. Civil unrest, fiscal policy, even marijuana legalization are all likely points of focus right now. That’s not to say they weren’t before but with days left to place a vote, tensions are running high across America.

The last few days in the market haven’t been much to write home about either. The S&P 500 dropped 2 days in a row so far this week. While trading volume was lighter on Tuesday, the selling pressure across broader markets didn’t necessarily subside. The majority of the session was traded inside Monday’s range with a trading channel between $3,388 and $3,410 for most of the day. Much of the push/pull has to do with the lack of definitiveness to recent stimulus talks. Both sides of the aisle have continued arguing their case that, for now, has simply ended in a stalemate.

[Read More] Are These Penny Stocks To Buy Now Or Wait On; 5 To Watch This Week

However, this isn’t to say that there weren’t stocks to watch. Believe it or not, some of the tried and true names to look for during times like these are small cap stocks. Relatively speaking, no matter what the broader market trend might be, there are penny stocks either outperforming the market’s performance or moving in a completely opposite direction. Today is yet another clear example of that with plenty of stocks under $5. The biggest question though, is since there’s so much volatility, are the penny stocks breaking out right now going to continue this trend into next month?

Penny Stocks To Buy [or sell]: Digital Ally Inc.

Digital Ally Inc. (DGLY Stock Report) is one of the penny stocks to watch especially whenever there’s a police-related headline. Unfortunately, there’ve been many of those within the last few months. Civil unrest has the eyes of some lawmakers focused on police reform. Whatever anyone’s personal opinion on the topic is, the fact remains, Digital Ally’s product portfolio has direct exposure to this niche.

The company specializes in high-quality video recording equipment and video analytic software. Think about things like police body cams and, recently thermal imaging solutions. Obviously, the application for the latter in preventing the potential spread of coronavirus is something to note. Last week the company inked a deal with Integrated Openings Solutions to be a preferred partner for the company’s ThermoVu temperature screening device.

But a more recent event has Digital Ally is a much brighter spotlight. This likely entails the company’s body cam related product portfolio. There’s been growing unrest after a police shooting triggered another bout of civil unrest in Philadelphia this week. The Whitehouse said that it’s prepared deploy federal resources in response to the unrest in the city. “We’re monitoring the situation closely. If necessary, we’ll be standing by and prepared to deploy federal resources, if necessary,” Alyssa Farah, the White House communications director.

Since this is a sentiment-fueled move, the important thing to pay attention to with DGLY is follow-through. Will volume remain as high later in the week as it was Tuesday? If things begin dying down it could be a clear sign of slowing momentum and that could obviously pose a risk for momentum traders.

high volume penny stocks to buy sell Digital Ally Inc (DGLY stock chart)

Penny Stocks To Buy [or sell]: MoneyGram International Inc.

Bitcoin prices are surging this month. Supporters of digital currency are making their voices heard. A mix of heightened attention on contactless methods of commerce and the general “safe haven” view that some traders have in Bitcoin has helped give the digital currency market a boost. Billionaire investor Mike Novogratz recently told Bloomberg that “Bitcoin is being used as a store of value.”

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In light of this and other industry events, we’ve seen a surge of momentum in several digital currency and blockchain stocks. One of these is MoneyGram International Inc. (MGI Stock Report). This has been a reader’s favorite for a few months now not just for crypto but for the company’s focus on expansion.

A few weeks ago we talked about how this year’s Apple event could shed some light on companies like MoneyGram. Thanks to its digital transaction platform and new mobile app, transaction growth was a high-point among traders. MoneyGram delivered 161% year-over-year cross-border transaction growth for MoneyGram Online.

You’ve also got to take note of the strategic deals the company has also made overseas where digital payments are much more prevalent. MoneyGram and PayMaya Philippines will launch a new remittance solution that features Visa’s real-time push payment technology, Visa direct. Since the Apple Event, MGI stock has climbed from $3.19 to highs of more than $5.20 at times.

high volume penny stocks to buy sell MoneyGram International Inc (MGI stock chart)

Penny Stocks To Buy [or sell]: RealNetworks

Similar to Digital Ally, RealNetworks (RNWK Stock Report) might also be experiencing some sympathy momentum on the news out of Philadelphia. The company has continued placing a stronger focus on its SAFR product line. Late last month RealNetworks beefed up SAFR’s leadership team with a new VP and a few weeks ago, the company signed a deal with Otay-Tijuana Venture LLC. Otay-Tijuana is a group of companies operating Tijuana International Airport’s Cross Border Xpress. They’ll use SAFR throughout the San Diego – Tijuana terminal in order to optimize operations and improve passenger flow. 

So what is SAFR? It’s a facial recognition platform for live video intelligence. Utilizing AI technology, it can help monitor occupancy, face mask detection, or touchless entry control. SAFR can also be deployed on-premises or in the cloud. How SAFR could be playing off of these latest headlines is via its use as a means for enhancing security. 

Similar to DGLY, the next steps for RNWK stock will likely depend on follow-through as well. Can this sympathy momentum continue? Tuesday’s action was the highest since July. Prior to this, RNWK has been a relatively thinly traded penny stock.

high volume penny stocks to buy sell RealNetworks Inc (RNWK stock chart)

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