3 Penny Stocks That Are Trending Heavily Right Now
Are penny stocks worth investing in? It depends. Well, investing in penny stocks can be a great way to grow your wealth, but it can also be a volatile and risky way to lose money. So, it’s important to do your research and understand the risks before you invest in either penny stocks or blue chips.
Now, penny stocks may not be suitable for everyone. If you’re risk-averse or have a low tolerance for volatility, then penny stocks may not be the right investment for you. But if you’re willing to take on more risk in exchange for the potential of higher returns, then penny stocks could be a good fit for your portfolio.
As always, understanding your own risk tolerance and knowing exactly what will affect your portfolio, are both crucial steps when it comes to investing. Right now, the two most important aspects that are impacting the stock market are the war in Ukraine, and inflation/rising interest rates in the U.S. Both of these have continued to cause major havoc in the stock market over the last few weeks, and likely will continue to do so over the next few.
Because penny stocks are so speculative, they can be more volatile and sensitive to these types of events than blue chip stocks. So, if you’re thinking about investing in penny stocks, it’s important to keep a close eye on the news and be aware of what’s going on in the world. The stock market is a complex place, and there are a lot of factors that can affect your portfolio. But, taking all of this into account can give you the best chance of profitability. With that in mind, let’s take a look at three trending penny stocks to watch right now.
Are These 3 Penny Stocks on Your Trending Small-Caps Watchlist?
- Vinco Ventures Inc. (NASDAQ: BBIG)
- Clever Leaves Holdings Inc. (NASDAQ: CLVR)
- Hycroft Mining Holding Corp. (NASDAQ: HYMC)
Vinco Ventures Inc. (NASDAQ: BBIG)
BBIG is one of the most popular penny stocks we’ve seen over the past few months. And despite extremely volatile trading, many investors use it as a classic example of having swing trading potential. Over the course of the past month, shares of BBIG stock have shot up by over 28%.
This is a major gain and reflects bullishness surrounding Vinco Ventures stock right now. The biggest recent news from Vinco Ventures came on February 16th. On the 16th, the company announced that it had completed the acquisition of AdRizer. AdRizer is a revenue attribution and audience acquisition ad platform that could be a major asset for Vinco Ventures.
“With the AdRizer acquisition complete, we are now focused on deploying AdRizer’s technology platform to monetize the content creation and streaming capabilities of the Lomotif short form video app through digital advertising.”The CEO of Vinco, Lisa King
While it will likely take some time before we see the full effects of this acquisition, there’s no doubting that it will be a big deal for the company. Considering that, do you think that BBIG stock is worth adding to your penny stocks watchlist?
Clever Leaves Holdings Inc. (NASDAQ: CLVR)
Another penny stock that has been wildly popular over the past few trading days is CLVR stock. In fact, we have covered it numerous times in the past couple of days alone. And, over the last five, shares of CLVR stock have shot up by over 109% with more than 140% in gains in the last month. The biggest recent news for Clever Leaves came on March 24th when it announced its Q4 and full year 2021 financial results. In the results, the company announced revenue growth of 25% and 27% for the fourth quarter and full year respectively.
“We have made progress in the fourth quarter by strengthening our operational foundation and advancing our commercial momentum to better position us for 2022.
We delivered year-over-year revenue growth of 26% and 29% across our non-cannabinoid and cannabinoid businesses, respectively. We also maintained our prudent approach to cost management as we drove continued production efficiencies.”The CEO of Clever Leaves, Andres Fajardo
Right now, there is a major focus on marijuana stocks, with Clever Leaves at the center. And while it is highly speculative, we have continued to see major gains with CLVR stock as shown above. Whether this makes CLVR worth adding to your list of penny stocks to buy or not is up to you.
Hycroft Mining Holding Corp. (NASDAQ: HYMC)
Over the past two weeks or so, we’ve covered HYMC stock numerous times. And during the last five day and one month periods, shares of HYMC have exploded by over 84% and a staggering 670% respectively.
If you’ve been reading about it, it’s clear that HYMC is the latest meme stock to explode. On the other hand if you’re not familiar, we’ve seen HYMC be a trending penny stock across Reddit and Twitter heavily over the last week or so. Now, aside from this, we have also seen major bullish sentiment with the mining industry. However, this bullishness is no where near enough to drive HYMC stock up by over 600% on its own.
Rather, the effects of social media and the recent meme stock frenzy, have made HYMC more speculative and volatile than ever. So, if volatility is something you’re looking for, Hycroft Mining could be worth buying. However, if it isn’t, than HYMC may be a penny stock to avoid. Regardless, there’s no doubting that its meteoric rise of late, is exemplary of the potential that penny stocks can have.
Which Penny Stocks Are You Buying Next Week?
Finding the best penny stocks to buy is all about understanding what is going on in the stock market. Because there is so much to consider, researching and understanding news and events will always give you the best chance of success.
And as mentioned earlier, penny stocks are extremely speculative. This means that news will always impact under $5 stocks heavily. Considering this, which penny stocks are on your buy list for next week?