Can you make money trading penny stocks? Many people believe that you can, and there is some truth to this belief. However, stock trading is not a get-rich-quick scheme – it takes time and effort to be successful at it. There are a few things you should know before you start trading stocks. 

First, stock prices can go up and down very quickly, so you can lose money if you buy a stock and its price falls. This is known as volatility, and it is typically much higher with penny stocks over blue chips. Some penny stocks like Guardforce AI Co. Ltd. (NASDAQ: GFAI) or Excellon Resources Inc. (NYSE: EXN), have shown higher volatility recently.

[Read More] Top Biotech Penny Stocks to Buy Now? 3 to Watch in March 

Second, it takes time to learn about the stock market and to find good penny stocks to buy. This is something that many investors fail to do, and it can lead to very swift losses. If you’re interested in trading penny stocks, the best thing to do is to start slowly and learn as much as you can. Remember, trading penny stocks needs to involve a high degree of research. With patience and hard work making money with penny stocks can be much easier than previously imagined. 

  1. Color Star Technology Co. Ltd. (NASDAQ: CSCW
  2. Direct Digital Holdings Inc. (NASDAQ: DRCT
  3. Velodyne Lidar Inc. (NASDAQ: VLDR

Color Star Technology Co. Ltd. (NASDAQ: CSCW) 

By EOD on March 11th, shares of CSCW stock had shot up by over 10.9% to more than $0.24 per share. Now, in the past six months, CSCW stock has dropped in value by over 79%. This is a major decline and reflects certain events that have occurred in the last month or so. After climbing by almost 100% in mid-Feburary, shares of CSCW stock declined by almost 75% shortly after. And since then, the company has worked to regain its financial standing. 

Two weeks ago, it announced the closing of a $10 million registered direct offering. A day later, it announced a partnership with the Spanish soccer club, Villareal CF. And, around a week or so ago, Color Star announced that it would host a cell bank on its Color World metaverse platform. 

“The establishment of the ‘Color Cell Bank’ will benefit more people, especially our users, who not only enjoy the fresh content brought by various merchants and sections in the Color World metaverse, but also experience the unprecedented convenience in the health-related aspects over the platform.”

The CEO of Color Star, Mr. Lucas Capetian

Now, all of this information shows clearly that CSCW stock is highly volatile, and that the company is working hard to grow. And at its beaten down value right now, it could be worth keeping an eye on. With that in mind, will CSCW be on your penny stocks watchlist or not?

Penny_Stocks_to_Watch_Color

Direct Digital Holdings Inc. (NASDAQ: DRCT) 

Another big gainer of the day on March 11th is DRCT stock. By EOD, DRCT stock had climbed by over 13% to more than $2.72 per share. This is an exciting climb and brings Direct Digital’s five day gain to more than 90%. During that time, we have covered DRCT stock on numerous occasions. But, if you’re not caught up, let’s take a closer look. 

[Read More] Hot Penny Stocks To Buy Now? 4 To Watch With Unusual Options Activity

If you’re not familiar, Direct Digital Holdings offers a variety of advertising solutions. This includes it managing more than 17,500 clients every day with over 30 billion impressions monthly. On March 9th, the company announced that its buy-side advertising platform known as Orange142, has been named digital agency of record for the Pigeon Forge Department of Tourism.

“We’ve partnered with Orange142 for almost 25 years, their team’s understanding of our brand and audiences is unparalleled. Orange142 truly serves as an extension of Pigeon Forge’s Department of Tourism and is a key strategic marketing partner based on their digital expertise.” 

The Executive Director of the Pigeon Forge Department of Tourism, Leon Downey

This partnership is exciting for the company and should be considered by both investors and those interested in the company alike. With that in mind, do you think DRCT stock is worth adding to your list of penny stocks to watch?

Penny_Stocks_to_Watch_Direct Digital Holdings (DRCT Stock Chart)

Velodyne Lidar Inc. (NASDAQ: VLDR) 

Another intraday gainer today is Velodyne Lidar Inc. By end of day on March 11th, shares of VLDR stock had shot up by over 6% to more than VLDR stock. The most recent news from Velodyne came on February 28th when it announced its financial results for Q4 2021 and the full year ended on December 31st. In the results, the company announced that it had shipped over 4,900 sensor units for a total of over 15,000 throughout the year.

“Lidar is going to transform virtually every industry as we know it, creating a safer, more efficient, and sustainable world. Velodyne Lidar is well positioned to capitalize on this opportunity.

We expect the first wave of lidar commercialization to be dominated by industrial automation, robotics, and intelligent infrastructure. These industries are estimated to reach a $2.8 billion total available market by 2026, according to YOLE.”

The CEO of Velodyne Lidar, Dr. Ted Tewksbury

In addition to this, the company announced several corporate highlights. This includes entering into a warrant agreement with Amazon, which will vest over time and offer payments to Velodyne of up to $200 million. In addition, the company signed into a five year sales agreement for Lidar sensors with QinetiQ Inc. All of this is good news for the company and is worth considering for investors. With this in mind, does VLDR deserve a spot on your penny stocks watchlist?

Penny_Stocks_to_Watch_Velodyne

Which Penny Stocks Are You Watching Right Now? 

Is investing in penny stocks worth it or not? That is a question that many investors ask regularly. And the short answer is that the stock market can be a tricky place, and it can be difficult to find the best penny stocks to buy.

[Read More] 4 Nasdaq Penny Stocks To Buy For Under $5

For some people, penny stocks may seem like a good option, but there are a lot of risks associated with investing in them. So, understand these risks, and use that to your advantage. 

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