Whether or not you’re trading penny stocks or higher-priced stocks, you need a broker to place your orders. Thanks to millions of new market participants joining the ranks over the last few years, mobile-first platforms have grown popular. What’s more, many of these offer added benefits that some of the more traditional platforms don’t include low and no-fee trading.
One of the more popular platforms retail traders are using right now is Webull. Not only does it offer enhanced tools not available on other mobile apps, but it also allows many users to trade pre- and post-market hours. One of the downsides of using platforms like this is you’re limited to Nasdaq and NYSE-listed companies. That can make it harder to find penny stocks to buy as many are traded Over-The-Counter. Lucky for you, this article discusses some of the more popular stocks under $5 trading on Major exchanges.
Penny Stocks TL;DR 30-Second Summary
- Penny stocks are higher risk assets, which can require brokerages to add certain rules for users looking to trade them
- Many mobile-first platforms like Webull don’t typically allow trading of OTC penny stocks
- Despite many sub-$5 stocks being traded Over The Counter, there are still plenty that’ve made their way to the NASDAQ and New York Stock Exchange
- Today we look at a few Webull penny stocks to watch that platform users have deemed as “bullish” right now
Another unique trait of platforms like Webull is they offer a social community. This has become very prevalent in post-pandemic market trends. Retail traders have taken to social media to discuss trade ideas and strategies. One of the more popular stock market social media sites, StockTwits, raised $30 million in Series B funding at the end of 2021. The platform notable for pioneering the cashtag now aligns itself with multiple partners to leverage expertise in new markets like India and new asset classes like crypto.
This growing interest in the retail (dumb money) trading environment echoes a bullish tone for mom-and-pop investors. With that, we’ll look at a few penny stocks that have received a bullish vote of confidence this week.
Webull Penny Stocks To Watch This Week
- NeuroMetrix Inc. (NASDAQ: NURO)
- Tellurian Inc. (NYSE: TELL)
- Bark Inc. (NYSE: BARK)
- NXT-ID Inc. (NASDAQ: NXTD)
NeuroMetrix Inc. (NASDAQ: NURO)
NeuroMetrix is hoving right around the upper threshold of the penny stock range this week, and if you’re looking at the chart, things haven’t been very active as of late. However, some readers may remember this as one of the big movers last summer. NURO stock exploded from under $4 to over $38 within days. Low float penny stocks were a big focus at the time, and with fewer than 10 million shares outstanding, NURO fit the mold. In addition, the company had just released FDA-related news, which sparked the first move that took shares to $12. The following day, momentum continued pushing prices as high as $38.75.
NeuroMetrix is a commercial-stage healthcare company developing bioelectrical and digital medicines targeting chronic conditions, including diabetes, sleep disorders, and acute pain. The FDA granted Breakthrough Device Designation to the company’s Quell device for treating fibromyalgia.
There’s also a De Novo request for Quell as a prescription treatment to the FDA. As the review process continues, the market awaits an outcome, and likely speculation has followed. The company previously discussed plans for a commercial launch in 2022, and this request is a step toward that goal.
With low float penny stocks as a trending topic right now, NURO could be on the radar. What’s more, sentiment among retail traders on Webull is noticeably bullish right now.
Tellurian Inc. (NYSE: TELL)
Energy stocks have pushed even higher as of the halfway mark this week. Tellurian Inc. has followed suit, making its way back toward the 50-day moving average with a third straight day of gains. The company has focused on addressing the need for more resources to address the global reopening efforts and industrialization that has followed.
Most of this week, we’ve discussed the company as green energy and renewables have gained more interest. Companies like Tesla, Rivian, and others have also added to the bullish sentiment for this trend. In Tellurian’s case, the company focuses on natural gas and liquified natural gas (LNG) assets. LNG has particularly been a resource considered as a “bridge fuel” during the transition to green energy renaissance.
Last quarter, company CEO Octávio Simões set the bar for 2021 and 2022 expectations. He explained that “By year-end 2021, we plan to produce approximately 70 million cubic feet equivalent per day (mmcfed)…We have turned our focus to financing Driftwood LNG and plan to give Bechtel notice to proceed with construction in early 2022.”
On the heels of this news, sentiment has remained upbeat. Based on Webull users, it appears they also agree with this outlook as 92.31% are bullish on the stock.
Bark Inc. (NYSE: BARK)
The dog lifestyle company Bark Inc. has taken a bite out of the market this week. Shares have surged from lows of $3.37 to over $4.70 following several key developments. Bark’s offerings include BarkBox, BARK Super Chewer, and BARK Eats, in addition to custom collections through retail partners like Target and Amazon.
This week the company announced a new CEO in addition to fiscal Q3 2022 guidance. The latter seems to have been a cause for excitement among retail traders. Bark expects revenue to come in around $140 million, up 33.1% from the same period in fiscal 2021. Previous guidance pegged revenue between $137 and $139 million. Top-line sales also climbed more than 41% to $377.8 million through the first three quarters of fiscal 2022, compared to 2021. “Our robust holiday season and strong results underscore the power of our brand and our unique value proposition as one of the largest vertically integrated and digitally native dog companies in the world today,” commented Matt Meeker, Co-Founder and Executive Chairman of BARK.
What do retail traders think about BARK stock? Even with this week’s big move, the consensus leans more bullish than bearish, though not by a wide margin. We’ll have to see if this remains the case by the weekend.
NXT-ID Inc. (NASDAQ: NXTD)
Another one of the low float penny stocks on this list is NXT-ID. With fewer than 10 million shares outstanding, it’s clear why the stock has seen so much volatility recently. NXT-ID specializes in personal emergency response systems (PERS). Its recent government contract with the U.S. General Services Administration helped give NXTD stock a boost toward the end of the year last year. This opened up the door to accessing partners like the Veterans Health Administration.
In addition to the lower float, NXTD has been seen as one of the “short squeeze penny stocks” to watch. We discussed several this morning and used Fintel.IO data to gauge levels. Accordingly, the short float percentage right now sits around 16%. This may be another reason why Webull users have given such a bullish forecast on the stock. The current “prediction” shows more than 90% bullish right now.
Retail Trading Sentiment & Penny Stocks
Sentiment gauges like this can help you understand the market’s thoughts are about a stock. However, in the case of Webull’s tool, it’s important to remember that these are opinions from users at the end of the day. Similar to other rating systems, at the end of the day, you’re the one making the trading decision.
So with that, I would say to make sure you’ve got as much information as possible to make the best choice based on your style and strategy. This article focused on retail sentiment from Webull users. If any of the penny stocks from this list are on your watch list, leave a comment and tell us if you agree or disagree with the sentiment and why.
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