Are These Under $1 Penny Stocks on Your Watchlist Right Now?
There are a lot of penny stocks out there that are trading below $1. This can be a great opportunity for investors who are looking for stocks with value that could rise (or fall) substantially. When looking for penny stocks to buy under $1, it’s important to do your research.
Make sure you understand the company and its business model. You don’t want to invest in a company without knowing all the details. Another thing to keep in mind is that penny stocks can be very volatile. This means that the stock price can go up or down very quickly, so you need to be prepared for that. Today, we are seeing this with penny stocks like Hycroft Mining Holding Corp. (NASDAQ: HYMC) and Exela Technologies Inc. (NASDAQ: XELA).
If you’re looking for penny stocks under $1, or at any price, there are a few things to keep in mind. The most important aspect to consider is your own investing style and risk tolerance. With penny stocks, it’s often a high risk, high reward game. But if you’re willing to take that risk, you could see some big profits.
On the other hand, losses are just as prominent with penny stocks due to the major volatility they see. If you’re looking for long term stable gains, there are plenty of penny stocks to watch. However, the more common strategy of making short term gains, suits small-caps much more. Regardless, know what type of investor you are and how to use that to your advantage.
Check These 3 Under $1 Penny Stocks Out For Your Watchlist
VEON Ltd. (NASDAQ: VEON)
One of the largest gainers of the day so far is VEON stock. By midday, shares of VEON had climbed by over 17.9% which is quite substantial. And, in the past few days, we’ve covered VEON numerous times due to its large and frequent stock market moves. In the past month period, shares of VEON have climbed by more than 38%.
So, with that in mind, let’s take a look at why VEON is seeing so much positive sentiment right now. The biggest news from the company came on March 22nd, when it announced the launch of its ‘Health Hub’ for its Banglalink mobile operator. It states that this will be the first digital health aggregator in Bangladesh.
“Banglalink’s launch of Health Hub is a remarkable initiative as it draws together all the main healthcare providers in the country into a single, accessible digital services that will provide major benefits for the people of Bangladesh. Health Hub also extends the portfolio of digital operator services that VEON offers.”The CEO of VEON, Kaan Terzioglu
This is great news for the company and investors alike and is an interesting update for investors to consider. With all of this in mind, will VEON be on your list of penny stocks to buy?
Farmmi Inc. (NASDAQ: FAMI)
Farmmi Inc. is a penny stock that we have covered multiple times in the past few months. And again today, shares of FAMI stock have shot up by more than 3% at midday. In the past year period, shares of FAMI stock have declined by more than 85%.
However, since March 14th, we’ve seen FAMI stock climb by over 22%. The big news for the company today comes as it announced that it had won a shipment order for products to Egypt. This order concerns dried shiitake mushrooms, which is one of Farmmi’s main export products.
“Egypt represents another attractive opportunity for us as we continue to drive growth by providing the high-quality agricultural products and scale customers require. Egypt is representative of the continued rebound we are seeing worldwide from COVID-19, which is also benefitting from heightened interest in healthy diets and meat alternatives.”The CEO of Farmmi, Ms. Yefang Zhang
In the past few months, we have continued to see FAMI stock move due to these large export orders. And, we also happen to see that FAMI is one of the more speculative penny stocks out there. Considering all of that, do you think FAMI is worth adding to your penny stocks watchlist or not?
Meten Holding Group Ltd. (NASDAQ: METX)
Up by over 2.6% at midday is METX stock. Similarly to FAMI, we’ve been covering Meten Holding for quite some time. And in the past year, the company has had several major transitions with its business model. Last year, China essentially banned for profit tutoring. As a result, Meten and other Chinese education stocks, dropped in value by over 80% at the minimum.
And since then, these companies have worked to find new viable ways to make money without this core aspect of their businesses. For that reason, Meten has worked recently to move into cryptocurrency and blockchain, which is a popular area in the stock market right now. On March 16th, Meten announced a strategic alliance with Global Blockchain Inc. to begin engaging in digital currency mining, investment, and farming.
“We are pleased to cooperate with Global Blockchain as we keep expanding our blockchain and digital currency business in the U.S. This cooperation will help us stay informed in the fast-evolving blockchain and digital currency industries and stay close to the industry development trend. Through leveraging this relationship, we are gaining confidence to grow our blockchain and digital currency business and create value for our shareholders.”The CEO of Meten Holding, Alan Peng
Now, we’ve also seen major movement with Bitcoin in the past few days, which is most likely aiding in the bullish momentum with METX stock. Whether this makes it worth adding to your list of penny stocks to buy or not is up to you.
Which Penny Stocks Are You Buying?
Finding the best penny stocks to buy can be tricky. However, with the right understanding of where the market is going and what is affecting penny stocks, it can be much easier than previously imagined. Considering all of this, which penny stocks are you buying right now?