3 Penny Stocks to Watch That Could Explode Next Month
If you’re looking for penny stocks that will or have a high chance of climbing, there are a few things to keep in mind. First, don’t get caught up in the day-to-day fluctuations of the stock market unless you are a swing trader.
If you’re not familiar, swing trading is the practice of buying stocks with the intention of holding them for a few hours to a few days, instead of holding them for months or years. This is the most common strategy with penny stocks, as small-caps tend to fluctuate greatly in any given trading day.
That said, finding penny stocks that have been on a steady climb for the past few months or years are always worth taking a closer look at. These stocks may not be as volatile as some of the others, but they can offer the potential for greater returns in the long run. Finding the best penny stocks to invest in completely depends on your own investing strategy and goals.
This is why it is crucial to do your research, and always remember that past performance is not indicative of future results. If you’re looking to find stocks that will take off, you need to be willing to do some homework. So, with all of this in mind, let’s take a look at three penny stocks that investors are watching right now.
3 Penny Stocks That Investors Are Watching For April
- Globalstar Inc. (NYSE: GSAT)
- Clear Channel Outdoor Holdings Inc. (NYSE: CCO)
- Amyris Inc. (NASDAQ: AMRS)
Globalstar Inc. (NYSE: GSAT)
Globalstar Inc. Is a penny stock that we have discussed numerous times in the past few months. And on Friday, March 18th, shares of GSAT stock managed to shoot up by over 8% to more than $1.34 per share. This gives it a five day and one month gain of more than 19% and 34% respectively.
These sizable gains reflect both Globalstar as a company and the tech industry at large right now. So, why are shares of GSAT stock climbing? The most recent news from the company came on March 8th when it announced the appointment of Telecom Leader Dave Haight.
“Globalstar is executing on our plan to accelerate the longer-term success of our satellite business. Last week we announced plans for a new fleet of satellites with vendors MDA and Rocket Lab, which will enhance, expand, and provide long-term certainty to our operations. And today, to further advance our IoT growth strategy, we add Dave Haight to our executive team.”The CEO of Globalstar, Dave Kagan
New additions to the team are always exciting for a company. And, with this, the hopes are that its IoT business can continue to grow. Whether this makes GSAT worth buying or not however, is up to you.
Clear Channel Outdoor Holdings Inc. (NYSE: CCO)
Clear Channel Outdoor Holdings is a penny stock that we have discussed plenty over the past few months. If you’re not familiar, it is a business that offers a variety of advertising solutions. This includes bus bench ads, billboards, and everything in between. Recently, we’ve seen major bullish sentiment with Clear Channel. In the past six months, shares of CCO stock have shot up by over 44% and in the past year by more than 74%.
Many believe that this gain is due to the reopening’s occurring around the world as the pandemic slows down. And, in its latest financial report, Clear Channel surprised investors with some exciting numbers. So, while it can be highly volatile, Clear Channel is also showing that it has a lot to offer investors. With this in mind, will it be on your penny stocks watchlist or not?
Amyris Inc. (NASDAQ: AMRS)
On Friday, March 18th, shares of AMRS stock shot up by over 7%. And, this comes after a one month gain of more than 12%, which is no small feat. So, why is AMRS stock climbing during trading right now? The most recent update from the company came on March 17th. On the 17th, it announced that it would be participating in the Jefferies Virtual Synthetic Biology Week program.
This should allow more eyes to see what Amyris is up to and how it is doing as a company. And while conferences like this are not a be-all-end-all, they are exciting for investors to consider. Right now, there is also a major amount of emphasis in the biotech industry. This has resulted in companies like Amyris climbing in the past few weeks. Considering this, do you think AMRS is worth adding to your list of penny stocks to buy?
Can These Penny Stocks Continue to Climb?
Are penny stocks worth it? This is a question that a lot of people ask, and there’s no easy answer. Penny stocks can be a great investment, but they can also be risky. The best stocks to invest in depend on your personal financial situation and your risk tolerance. Before you invest in penny stocks or any stocks for the matter, it’s important to do your research.
There’s no question that stocks can be a great investment – but not all stocks are created equal. If you’re looking to invest in penny stocks that will climb, it’s important to understand trading and find the best stocks for your portfolio.
You should understand the risks involved and have a solid investment plan. Penny stocks are volatile and can be challenging to profit with, so make sure you’re comfortable with the risks before you invest. With that in mind, do you think that penny stocks are worth investing in right now?