4 Penny Stocks To Trade Or Fade Before Friday
If you’re searching for penny stocks to buy, there are plenty to choose from. With the latest news from Pfizer (PFE Stock Report) and Moderna (MRNA Stock Report), it looks like a vaccine is closer than ever before. This upbeat sentiment has traders looking for more opportunities. What’s more, is that opportunity may rest in stocks under $5. The general lack of volatility in the broader markets has some traders thirsting for big momentum right now. What other types of stock besides penny stocks can you see this?
What are some hot penny stock sectors to watch? Right now we’re seeing a broad focus. Everything from technology penny stocks to ESG stock is on the radar. You can find big breakouts in energy as well as things like electric vehicle stocks. No matter where you look, there’s a good chance you’ll find volatility across the board. That’s especially true when it comes to these cheap stocks. Even a few pennies can equate to large swings in percentage value.
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With this in mind, it’s also important to keep your strategy in place. Don’t let emotions cloud your judgment. While the goal is to make money with penny stocks, you should be consistent. That might be hard to do when there are so many penny stocks breaking out the way that they have.
Case in point, look at some of the electric vehicle stocks lately. Nio Inc. (NIO Stock Report) for instance has graduated from penny stock levels and now trades above $45 a share. SOLO stock and KNDI are a few other examples. The bottom line is this: penny stocks are exciting, sure, but don’t let the excitement make you forget about taking profits. With this in mind, are these on your list of penny stocks to buy or will sellers soon step in?
Penny Stocks To Buy [or sell]: Ayro Inc.
I’ll stick with this trend of electric vehicle stocks for now. Ayro Inc. (AYRO Stock Report) has long been one of the top EV penny stocks to watch. The company specifically focused on EVs for short-haul markets like business complexes and college campuses. The more recent focus has been on expanding its offering. Agreements with Gallery Carts and Karma Automotive have given traders something more to chew on recently.
In its most recently quarterly update the company highlighted its plans for expansion in the quarters to come. “Given our strategic partnerships with industry leaders like Club Car, Gallery Carts, and now Karma Automotive , our strong balance sheet, and our internal team who will continue to innovate and help bring next-generation purpose-built EVs to the market, the outlook remains quite bright for us, and we are truly excited about AYRO’s future. Furthermore, while COVID-19 may have led to some disruptions in customer orders and the near-term pace of EV adoption, the transition to EVs is a trend that will continue for both consumers and businesses alike,” said Chief Executive Officer Rod Keller.
AYRO continues climbing with the rest of the EV stocks this week. It’s important to understand that this is a sympathy fueled move right now so keep that in mind if it’s on your watch list. Without fundamental drivers, AYRO stock could be at the mercy of the rest of the sector’s momentum.
Penny Stocks To Buy [or sell]: 22nd Century Group Inc.
22nd Century Group Inc. (XXII Stock Report) is another one of the penny stocks we’ve discussed for a while now. The company’s main focus is on its tobacco with lowered nicotine and nicotine alkaloids in it. In addition, 22nd Century is developing cannabis with different levels and types of cannabinoids. As you can see, XXII stock fits into many categories.
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In its most recently posted earnings, the company showed strength in beating estimates. It recorded a 3 cent loss per share compared to EPS loss of 4 cents expected. Furthermore, it came in 32.7% higher than estimates in revenue at $7.3 million for the quarter. The company has plans in place to commercialize VLN® in the U.S. 90 days after receiving MRTP authorization.
“These plans include a rollout through large, well-recognized retail chains in the U.S. and a marketing campaign to introduce adult smokers to the world’s lowest nicotine content cigarette.”
In light of this, there are still more things to take note of with XXII that put it on this list. Earlier in the week, CEO James A Mish bought nearly $100,000 worth of stock on Tuesday. He’s also speaking at the Boston Cannabis Conference at the beginning of December. Right now analysts at Bradley Woods have a Buy rating on the stock as well.
With so much attention on marijuana stocks in particular, speculation could begin building around what 22nd Century’s latest initiative will mean for the future of the company.
Penny Stocks To Buy [or sell]: Dogness International Corp.
Sometimes people will say penny stocks are for the birds. But in this case, Dogness International Corp. (DOGZ Stock Report) is all about the dogs. The company gained attention earlier this quarter after announcing a partnership deal with Huayuan Pet and Chongai Trading. Dogness partnered with these other companies to combine brand distribution channel, human capital and supply chain resources. The aim was to broaden their reach within China’s pet market. But that isn’t why DOGZ stock is taking off on Thursday.
The company announced early in the premarket session that it has expanded its sales activities at Costco Wholesale Corporation (COST Stock Report). This includes both in-store and online special events to promote the Dogness smart pet product line.
“We have been active in the greater Dallas region, where our U.S. operations are headquartered, and now plan to expand to Costco online in 1Q 2021. This will put us in front of an estimated 40 million members with new promotional opportunities to help drive sales of our smart pet product line.”
Silong Chen, Chairman and Chief Executive Officer of Dogness
Penny Stocks To Buy [or sell]: Gevo Inc.
Gevo Inc. (GEVO Stock Report) is one of the ESG stocks to watch right now. We’ve seen the likes of Plug Power (PLUG Stock Report) and FuelCell Energy (FCEL Stock Report) graduate from penny stock levels this year. Right now GEVO stock is making a push higher toward the end of the week. When we talk about “ESG stocks” we’re talking about companies focused on “Environmental, Social, and Governance.” The idea behind this segment supports companies that leave a positive impact on those specific areas of interest.
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Gevo is a renewable chemicals and biofuels company. It develops and commercializes alternative products to petroleum-based ones.The comapny has also been gaining steam after comments made in Gevo’s recent quarterly update. Despite a smaller than expected revenue figure, management appears optimistic about the future of the company.
“This past quarter marked a turning point for Gevo. We secured the blockbuster deal with Trafigura, a major energy player. This offtake agreement brought our total off-take tally to about 48MGPY, collectively representing about $1.5 billion of revenue across the life of the contracts…I believe that our project financing activity with Citigroup is going well, so far…Overall, we are progressing well. We need to continue to make progress and keep on track.”
Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer
What’s more is the analysts appear bullish on the company as well. Not only does HC Wainwright and Noble Capital have Buy ratings on the stock, they each carry price targets too. While Noble has a $3 target, HC has gone as far as pinning a $5 price target on GEVO stock; 320% higher than its current trading levels. Will these analysts be right in their expectations based on that target?
