3 Trending Penny Stocks to Watch Right Now
If you’re looking for trending penny stocks to buy, there are hundreds of options to choose from. But with so many stocks to pick from, it can be difficult to know where to start. One way to narrow down your choices is to look at the stocks that are making headlines.
These stocks are usually gaining popularity and could be worth investing in. This can and likely will correlate with volume. If a penny stock has high volume, it means that a lot of traders are interested in buying or selling it. One great way to find penny stocks that are trending right now is to look at the market news. Because penny stocks are so speculative, it’s important to keep up with the latest market trends and make investment decisions based on what’s happening in the world.
Additionally, another method for finding stocks to consider when looking includes those in hot sectors, such as tech or healthcare. You can also check out stocks that are performing well within their industry, as these may offer great investment opportunities. Additionally, pay close attention to stocks’ good trading patterns and solid support levels—these could be potential winners. So, with all of this in mind, let’s take a look at three penny stocks that are trending right now.
3 Penny Stocks That Are Trending in May 2022
- Sonim Technologies Inc. (NASDAQ: SONM)
- Vinco Ventures Inc. (NASDAQ: BBIG)
- Lixte Biotechnology Holdings Inc. (NASDAQ: LIXT)
Sonim Technologies Inc. (NASDAQ: SONM)
One of the bigger gainers of the day on May 5th is SONM stock. At EOD, shares of Sonim stock had shot up by more than 19%. This is a major gain that reflects sizable bullish sentiment for the company. And, in the past five days, SONM stock has shot up by more than 33%.
For this reason, we can see that it clearly is a trending penny stock right now. The biggest news from Sonim came today as the company announced purchase orders from a top U.S. carrier for its next-gen smart phones. It states that these orders total $9.5 million, and concern its XP5 Plus phone as well as its next-gen XP10 5G rugged smartphone.
“We are excited to secure these initial orders from a long-time carrier partner for our new rugged XP5 Plus and XP10 smartphone devices, planned for introduction later this year. These early awards demonstrate the carrier excitement for our next-generation phones featuring Sonim’s rugged engineering technologies.
We believe these awards are also early indicators of the market demand we seek to tap under our new business strategy, offering a wider range of 5G smartphones, feature phones, mobile hot spots, and other industrial communications equipment that incorporate our rugged heritage.”The CEO of Sonim Technologies, Peter Liu
This is great news for the company and should be kept in mind when considering it. After looking at this data, is SONM stock worth adding to your list of penny stocks to buy or not?
Vinco Ventures Inc. (NASDAQ: BBIG)
While BBIG stock shot down by over 3.3% during trading today, in after hours, it managed to explode by more than 55% before dropping to a 35% after hours gain. This staggering uptick comes alongside news that the company released at 5 P.M. on May 5th. The company stated that it has set a record date of May 18th for dividends regarding common stock in Cryptyde Inc.
Each shareholder of BBIG stock will receive one share of Cryptyde stock for every ten BBIG shares that they own. This is great news for investors as it will allow them to reap the benefits of this recent acquisition. And, with large hopes surrounding the future of Cryptyde, it’s clear that this is playing out positively amongst investors. So, whether that makes BBIG stock a worthwhile add to your penny stocks watchlist is up to you.
Lixte Biotechnology Holdings Inc. (NASDAQ: LIXT)
At EOD on May 5th, shares of LIXT stock had shot up by almost 12%, showing that it is yet another trending penny stock today. In the past five days, shares of LIXT have seen a very stable uptick of over 39%. So, despite its one year drop of over 40%, LIXT stock is showing solid bullish sentiment right now. The biggest recent news from the company came on April 14th when it announced the closing of a $5.8 million registered direct offering.
This offering, which totals 2.9 million shares of common stock at a price of $2 per share, will be used for clinical development of its leading compound, LB-100. In addition, the company states that these funds will be used for corporate purposes and working capital. As stated many times recently, there is a major bullish emphasis on biotech stocks right now. And because of that, companies like LIXT are seeing high attention. So, do you think LIXT stock is a worthwhile buy in May or not?
Are Trending Penny Stocks Worth Buying?
Whether penny stocks are worth buying or not completely depends on the individual stocks on your list and what your trading strategy is. If you’re looking for penny stocks that will give you long-term and stable returns, penny stocks may not be for you.
However, if you’re okay with a little more risk and are looking for stocks that have the potential to grow in a short time frame, then penny stocks could be a good option for you. So, with this in mind, do you think trending penny stocks are worth buying or not?