Are These On Your List Of Penny Stocks Today?
When it comes to finding penny stocks to buy, all investors have different strategies. These strategies differ in their risk profile as well as the length of time one wishes to hold an investment. Usually, traders are broken down into two distinct categories. On one hand, we have those who swing trade. These traders are suited well for investing in penny stocks as these stocks under $5 are often quite volatile. The term “swing trading” simply means that one enters and exits positions swiftly. With the coronavirus in full swing, we have seen heightened volatility levels around the stock market. This means that a lot of traders have been utilizing the swing trading method in the past six months.
On the other hand, there are those who trade using long term fundamentals. These investors usually search for companies with big underlying potential that may not have been tapped into yet. The timeframe for this strategy can be anywhere from a few weeks to years. This strategy can also be well suited to penny stocks if investors believe in the long term future of a company. As you can see, there are several ways to trade penny stocks. But, once we have determined a strategy, we can begin crafting a list of penny stocks to watch.
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With rising Covid cases around the U.S. and globally, investors are continuing to search for Covid-related penny stocks to buy. On November 18th, we saw several penny stocks jump in the double-digit percentage points before the end of the day. With a great deal of bullish sentiment in the stock market right now, here are four small cap stocks to watch right now. Will they become to best penny stocks to buy before the end of the week?
Penny Stocks to Buy [or avoid]
- Sunworks Inc. (SUNW Stock Report)
- Nano Dimension Ltd. (NNDM Stock Report)
- ReneSola (SOL Stock Report)
- ADiTx Therapeutics Inc. (ADTX Stock Report)
Penny Stocks to Buy [or avoid]: Sunworks Inc.
Sunworks Inc. is one of the leading providers of solar infrastructure to the U.S. With the initial election of Joe Biden, the proposed administration is planning to have widespread renewable energy within the next decade. As we have seen, solar power is one of the most popular sources of renewable energy. In terms of infrastructure, there are still some big obstacles in the way of solar power being widespread. And although the demand for renewable energy remains high, these challenges need to be solved.
For one, current battery technology for storing solar energy is relatively inefficient. At a rate of 33% for standard silicon solar panels, there is a clear need for development. But, according to Allied Market Research, the global market for solar power could be worth around $223 billion within the next five years. With this in mind, Sunworks Inc. could have a lot to look forward to if all aspects of its business begin to head in the right direction.
After terminating its merger deal with The Peck Company, it appears that Sunworks continues moving forward with its growth strategy. The agreement signed in August was cancelled due to Sunworks’ inability to secure stockholder approval. Regardless of this, the company is coming off of a strong Q3 with $10 million in project wins for the period. With a focus on renewables, SUNW could be on the list of small cap stocks to watch.
Penny Stocks to Buy [or avoid]: Nano Dimension Ltd.
Nano Dimension Ltd. is one fo the big gainers on November 18th, posting 6.7% in gains by EOD. For those who don’t know, Nano Dimension provides intelligent machines for use in fabrication applications. This includes the manufacturing of drones, satellites, smartphones, cars and more. In addition, the company has made a big step into the prototyping market by offering fast-time-to-market in house devices.
With online shopping at an all-time high, demand for all types of products is shooting through the roof. But with covid also rising, businesses are continuing to search for autonomy where it can be found. This is where Nano Dimension comes in. Because it offers autonomous engineering machines, factories can begin to phase out the need for in-person workers, thus decreasing the potential for contracting covid. In addition, the company has embarked on some ambitious projects.
One of these includes an announcement made on November 5th. The company stated that it had brought on two new governmental contracts as customers. Yoav Stern, CEO of the company stated that “while these two new customers represent our main target markets during the Covid-19 era; defense contractors and research centers, the significance justifying noticing these transactions is that they may be the early birds of recovery, at least for the APAC marketplace. Thanks to shareholders support, we are positioned in the best way with more than $100 million in cash.”
With all of this in mind, it looks like NNDM stock could be considered a penny stock to watch.
Penny Stocks to Buy [or avoid]: ReneSola
Like Sunworks, ReneSol has focused on renewable energy. While upcoming earnings and sector strength have driven momentum, SOL stock has also benefited from several fundamental developments recently. This week the company closed on a previously announced acquisition of certain assets of Nova Development. This included DG and solar-plus-storage projects from Nova. The deal boosted Renesola’s pipeline by roughly 200 Megawatts further adding members to the company’s development team.
What’s more, is that on Thursday, the company announced another deal. This time it was in the form of a joint venture to develop solar projects in the UK. This now becomes the company second join venture in the UK in the last few weeks. ReneSola & Innova will co-develop utility-scale projects. According to the company this further strengthens the its project pipeline in Europe enabling it to achieve its goal of reaching 1GW.
Penny Stocks to Buy [or avoid]: ADiTx Therapeutics Inc.
ADiTx Therapeutics Inc. also came out with news that sparked this otherwise quiet penny stock. Over the last few months there haven’t been many things to point at when it came to ADTX. Aside from a bit spike in August, it’s been one of the very quiet small cap stocks in the market. Needless to say, the company announced a key development on Thursday that saw shares rapidly rise during premarket trading.
ADiTx announced hat its AditxtScore™laboratory operations for immune monitoring has secured CLIA certification. This now allows for the launch of AditxtScore™for COVID-19 as a Laboratory Developed Test. Amro Albanna, Co-Founder and CEO of Aditxt, commented, “As we prepare to roll out the AditxtScore™ immune monitoring platform and applications, the establishment of our own CLIA-certified AditxtScore™ operation is vital to realizing our full vision, which is to transform immune diagnosis from reactive testing to proactive monitoring. We believe that the upcoming availability of two new vaccines, as was recently announced, will increase the need for ongoing monitoring of the immune system in order to assess the presence and durability of immunity at any point in time.”
With rising coronavirus cases, related headlines continue turning heads. Considering the fact that ADTX stock has a relatively lower float, however, this could be one of the more volatile penny stocks to watch on this list. In light of this, it’s important to understand that low float penny stocks generally experience overly aggressive swings in very short periods. Will this become the case for ADTX on Thursday after this latest headline?