Penny stocks have triggered a different reaction from different traders in the stock market today. Depending on their first experiences with these cheap stocks, they’ll likely either tell you that penny stocks are worth it or they’re a scam. But there’s another layer to this that needs to get peeled back.
That has everything to do with the process of learning how to buy penny stocks, in general. Going into this “wild West” trading style can bring just as much risk as stepping into a boxing ring with a world title fighter if you don’t have experience. Treating these cheap shares like lottery tickets isn’t the best route to take if you want consistent profitability.
Alas, I digress, but if you are just getting your feet wet, I’ll leave some links below for some extra education. Now, the topic of today: stocks to buy for under $5. One of the latest trends for traders right now is using mobile trading platforms like Webull and others. There is one problem, however. When it comes to trading low-priced stocks, OTC penny stocks are generally inaccessible. Does that mean you’re SOL if you’re a fan of using Webull for trading?
Read more: 6 Best Penny Stocks To Watch As Bitcoin Price Hits All-Time High
No, and there are plenty of cheap stocks to trade listed on the major Nasdaq and New York Stock Exchanges. In today’s article, we’ll take a closer look at a few of these. Some are trending with the retail trading crowd on social media sites like Reddit and Twitter. Meanwhile, others have just begun building momentum heading into the end of October. Remember, at the end of the day, just because they’re “cheap,” does it necessarily mean they’re the best penny stocks to buy right now?
List Of Penny Stocks On Webull Under $5
Some of these Webull penny stocks have taken off thanks to bullish momentum. But what’s been driving the moves? Let’s have a look under the hood to determine if these deserve a play on your list of penny stocks to watch right now.
Penny Stocks To Buy [or avoid] 1. Check-Cap Ltd (NASDAQ:CHEK)
Shares of Check-Cap (NASDAQ:CHEK) woke up in afternoon trading on October 20. Up until that point, the penny stock was relatively quiet, not trading more than 950,000 shares in a given day this month.
What Does Check-Cap Do?
The company specializes in medical diagnostics, mainly for detecting polyps before they turn into colorectal cancer. Its C-Scan product is currently in production to support a pivotal study in the U.S.
Why Is CHEK Stock On The Move?
Earlier this week, the US Patent & Trademark Office showed a new patent titled, “Position estimation of imaging capsule in gastrointestinal tract” tied to the company. While no news from the company has been released so far, the USPTO site showed the full text of the patent. With this in hand and the upcoming U.S. pivotal study, the market has responded favorably so far. As far as Webull users are concerned, Bullish vs. Bearish Sentiment sits at 95% Bullish right now.
2. Camber Energy (NYSE:CEI)
If you’re a retail trader, you more than likely have heard of Camber Energy. It blazed the social media feeds for weeks, and we were right alongside covering its progress (more on CEI stock). Shares screamed from under $0.40 to over $4.85 within a matter of a little longer than a month as herds of traders flocked to the meme/short squeeze penny stock. Though it has settled down quite a bit, it hasn’t left the mainstream conversation when it comes to cheap stocks to watch. With the surge of interest in energy stocks, other factors may also be at play right now.
What Does Camber Energy Do?
For those who are unfamiliar, Camber (NYSE:CEI) has focused its efforts on carbon capture technology. In particular, just as momentum was heating up, the company signed a deal with ESG Clean Energy for an exclusive license to its stationary electric power generation IP. In particular, how heat from manufacturing is captured and reused for other energy needs. According to the company, this includes distilled/ de-ionized water, UREA (NH4); ammonia (NH3); ethanol; and methanol. Once captured, these could all get resold as stand-alone materials.
Read more: Best Cheap Penny Stocks to Buy Now? 3 to Watch in October
Why Is CEI Stock On The Move?
Once again, a retail trading frenzy has become a catalyst for recent excitement in CEI stock. News that the company canceled its reverse stock split helped add more optimism to the conversation. Furthermore, technical traders have monitored major moving averages closely, watching for CEI stock to hold at or above its 50 day, which so far, it has. What do Webull traders think about the sub-$2 stock? CEI is listed in the top 10 most popular stocks on the platform, with Bullish sentiment outpacing Bearish with 94% compared to just 6%.
Penny Stocks To Buy [or avoid] 3. KULR Technology (NYSE:KULR)
About a month ago, we began following the progress of KULR Technology (NYSE:KULR). While we may have been a hair early on the electric vehicle/lithium-ion trend, that hasn’t put a pause to things in the stock market. Today especially, KULR stock has surged with a renewed momentum not seen since late September. At the time, the company had reported that it would begin offering its KULR-Tech Safe Case to a lithium-ion battery recycling company.
What Does KULR Technology Do?
Its core focus is on technology, which includes everything from 5G to electric vehicles. The more recent focus, of course, is on the latter. The Safe Case is actively used in the safe transport and storage of lithium-ion cells and battery packs.
Read more: Best Short Squeeze Penny Stocks To Buy? 4 To Watch Right Now
According to KULR COO Keith Cochran, “As we’ve seen with the largest automotive manufacturers making strategic investments in battery recycling as well as the recent spate of battery recycling IPO’s, the market is starting to recognize the importance of this matter in the circular economy, which is expected to grow to $21 billion by 2025…With KULR’s space-proven, patent-pending technologies and DoT special permits in place, we are well-positioned to be the leading provider of battery storage and transportation solutions that services the largest OEM’s and service providers in the industry.”
Why Is KULR Stock On The Move?
It’s always important to do as much research as possible. Looking through headlines and SEC filings are a few things to put on your to-do list. But don’t forget, this new age of trading also involves social media. With KULR, it isn’t some rumor buzzing right now. However, recent momentum has seemed to have stemmed from a recent tweet.
The company chirped out today: “Working on something quite a ₿it special at the $KULR facility. Stay tuned for more! bitcoinmining #Bitcoin” with an accompanying image of what were Antminer S9 Bitcoin Miners. The Tweet thread also showed the company responding to a comment stating, “we’re currently testing the thermal management on in our facility.”
4. MannKind Corp. (NASDAQ:MNKD)
Shares of MannKind Corp. (NASDAQ:MNKD) have picked up momentum this week. Following a dip to lows of $4 on Monday, the penny stock has been on the move, now jumping to highs of over $4.40 by mid-week. On top of this, the daily trading volumes have grown during that time.
What Does MannKind Do?
MannKind is a biotech company specializing in inhaled therapeutics for endocrine and lung diseases. Its commercial platform, Afrezza, is FDA approved for insulin delivery in the US. The most recent focus is on the company’s Tyvaso DPO product in conjunction with United Therapeutics for treating pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.
Why Is MNKD Stock On The Move?
Earlier this week, MNKD stock took a tumble, thanks to Tyvaso news. The FDA issued a complete response letter regarding a New Drug Application for the treatment. The Administration ultimately declined the approval noting a deficiency in an open inspection issue at a third-party testing center for Tyvaso’s active ingredient. However, this complete response did not pertain to MannKind, and no problems were cited by the FDA related to MannKind’s facility.
What do traders on Webull think about MNKD stock? As of today, traders who have given their opinion on their sentiment related to MannKind have 100% bullishness at the moment.
Penny Stocks On Webull & Other Platforms
Penny stocks carry plenty of risks no matter which platform you’re buying them on. However, with that great risk comes the potential for greater rewards. The one thing to remember is to make sure you understand how to trade in the first place. Here are a few articles that might help:
Penny Stocks Trading for Beginners [2021]
Understanding how to buy penny stocks is a huge benefit when approaching the stock market. If you can feel comfortable trading these volatile and cheap stocks, you can consider yourself among a tried and true group. This year learning how to trade penny stocks has reached a feverish pitch. First thing’s first, however, you need to know precisely what you’re buying...Continue reading
Penny Stocks & 5 Stats To Know If You’re Trading Or Investing In 2021
Start learning how to trade penny stocks. Once you’ve got the basics down, it’s time to understand the landscape. This article will discuss five important stats all traders & investors should know about the market in 2021…See The 5 Stats To Know
How to Buy Penny Stocks
Before we tackle how to buy penny stocks, first, let’s define them. Ironically, a penny stock is not just a stock whose share price is around a penny or even under a dollar, for that matter. Penny stocks are low-priced, small-cap stocks with a share price under $5, as defined by the Securities and Exchange Commission (SEC)…Read more
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Excellent article…
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