hot penny stocks to buy right now

Hot Penny Stocks To Buy For Under $3 [for now]

The S&P reached a fresh, all-time high and myriad penny stocks echoed that bullish sentiment today. What’s better still, is that it didn’t just reach this high and sell-off. The S&P hit $3,676.22 in the morning and continued holding above $3,670 for the remainder of the pre-lunch session. This helped strong momentum into the second half of the first trading day of December.

Meanwhile, strong data out of China suggested strength in the global economic landscape. China’s factory data showed levels reaching a ten-year high. This, paired with upbeat sentiment of a vaccine release date helped give broader markets a boost, taking small- and micro-cap stocks with it. Meanwhile, the Dow Jones Industrial Average treaded water, hovering around the milestone 30,000 level and the NASDAQ topped new, all-time highs. Is this the “holiday rally” everyone’s been looking for or something else.

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In light of recent tailwinds originating from COVID headlines, I think the sentiment has more to do with that than the holiday or “Santa Claus” rally ideology. Whatever the case may be, the fact of the matter is that traders are looking for the next hot penny stocks to buy right now.

Many of those names have been found among biotech penny stocks today. Everything from coronavirus vaccine stocks to oncology stocks are grabbing interest from investors. We’ve also seen a boost in tech penny stocks thanks to upbeat industry sentiment originally triggered by Apple (AAPL Stock Report) earlier today. Despite the general disconnect between penny stocks and the broader markets, when the broader markets surge, it tends to be a driving force for most stocks under $5. With that said, are any of these hot penny stocks on your list right now?

Hot Penny Stocks To Buy [or sell]: Guardion Health Sciences, Inc.

Shares of Guardion Health Sciences, Inc. (GHSI Stock Report) continued their month-long move on Tuesday. Kicking things off in December, GHSI stock reached levels not seen since August. The stock hit a high of $0.32 during the early morning session on Monday. While there weren’t any headlines to accompany the move, it does add to the jump GHSI stock has experienced since reporting its Q3 earnings.

Total revenue increased 57% year over year to roughly $253,000 for the three months ended September 30, 2020. Medical foods sales jumped 26% for the period as compared to last year’s quarter. Furthermore, medical devices sales were up 147% for the period as well.

David Evans, Ph.D., Guardion’s interim President and Chief Executive Officer, and Chief Science Officer, said, “Over the course of this pandemic, it has become increasingly clear that there are multiple business opportunities for Guardion to explore, including enhancing our digital distribution channels and e-commerce platform and expanding our international distribution opportunities. In addition, we are working closely with CFA to identify and evaluate strategic transactions and opportunities to enhance shareholder value.”

Could this recent jump in momentum be due to speculation on these “strategic opportunities”?

hot penny stocks to buy Guardion Health Sciences Inc. (GHSI stock report)

Hot Penny Stocks To Buy [or sell]: MicroVision Inc.

MicroVision Inc. (MVIS Stock Report) is another one of the companies that’s been tracked in light of potential “strategic opportunities” being identified. Earlier this year, the company retained Craig-Hallum Capital Group LLC to serve as its financial advisor exploring various licensing and other strategic alternatives. Fast-forward to this month and MVIS stock has gone on a wild ride that sent the price up 10 fold since that update.

[Read More] 3 Penny Stocks To Buy According To Analysts; 107%-195% Price Targets

This week the company announced a new Board appointment. Judy Curran was appointed to its board of directors bringing automotive industry expertise to the company. “I believe automotive lidar sensor technology represents a significant opportunity and potential value to our shareholders. Judy brings a deep understanding of the current automotive marketplace including new technology, business strategy, operations and management. Her role at Ford Motor Company leading assisted driving strategy and other technology initiatives strengthens our board as we consider various opportunities,” explained Brian Turner, Chairman and Lead Independent Director at MicroVision.

With growing interest in the automotive space, especially electric vehicle stocks recently, this addition has been well-received by shareholders. MVIS stock added another 6% to its uptrend on Tuesday.

hot penny stocks to buy MicroVision Inc. (MVIS stock report)

Hot Penny Stocks To Buy [or sell]: SINTX Technologies Inc.

SINTX Technologies Inc. (SINT Stock Report) is another one of the hot penny stocks to watch this week. Shares topped highs of $2.25 during the session on Tuesday. This was accompanies by some of the highest trading volume SINT stock has seen since August. What’s more, is that there weren’t any news headlines acting as a potential catalyst.

Could it have something to do with recent COVID headlines? SINTX focuses on deploying its silicon nitride ceramic in medical settings. This year it was found that SINTX’s product was effective against COVID-19. The company signed a joint development agreement with Iwatani Corporation of America.

The two will incorporate SINTX AP2 silicon nitride powder into polymer materials. Specifically, these products will be for things like cellphone cases, tablet cases, and other device cases that are frequently touched.

Other than that, SINTX is coming off of a stronger quarterly earnings report a few weeks back. The company saw strong EPS growth year-over-year, yet sales were down during the same period. The company remains focused on applications for its silicon nitride product.

hot penny stocks to buy SINTX Technologies Inc. (SINT stock report)

Hot Penny Stocks To Buy [or sell]: Mogo Inc.

With the price of bitcoin surging recently, several bitcoin and blockchain stocks have jumped. We saw Marathon Patent Group (MARA Stock Report) explode out of the penny stock range recently. The digital currency mining company’s stock ran from under $1 to now over $6.75. Though not to the same extent so far, Mogo Inc. (MOGO Stock Report) has rallied from around $0.90 to highs of $3.49 since mid-July.

[Read More] 3 Penny Stocks On Robinhood To Buy For Under $1 In December

This week the company reported a 135% month-over-month increase in the dollar value of bitcoin traded on the Mogo platform from October 2020 to November 2020. This comes on the heels of its previous announcement that Mogo bitcoin accounts increased 237% year over year in Q3 2020.

Greg Feller, President and CFO of Mogo, said, “As one of the pioneers in Canada and the only well-established publicly traded Canadian company offering a simple and low-cost way to buy and sell bitcoin, we are in a unique position to meet this rising demand through our award winning app that offers a number of innovative products to help Canadians manage their financial lives.”

So, as the price of cryptocurrencies continues climbing, will MOGO stock follow suit?

hot penny stocks to buy MicroVision Inc. (MVIS stock report)

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