Thanks to the stock market crash of 2022, daily trends are gaining more attention than monthly. That has made an excellent case in favor of trading penny stocks. These cheap shares are well-known for their short-term volatility spikes and potential for significant gains.
Best Penny Stocks To Buy
The critical thing to remember if you’re looking for the “best penny stocks to buy” is why you’re buying them. Having an action plan and precise strategy separates consistent traders from the rest. Today’s list of penny stocks is all about stocks with above-average volume and attention from retail traders. Whether you call them Reddit penny stocks, meme stocks, or simply the most active penny stocks today, we’re diving in to see what potential catalysts are at play.
- RiceBran Technologies (NASDAQ: RIBT)
- Very Good Food Company (NASDAQ: VGFC)
- Vroom Inc. (NASDAQ: VRM)
- Blacksky Technology (NYSE: BKSY)
1. RiceBran Technologies (NASDAQ: RIBT)
The global food chain disruption has continued this week. With sanctions on major grain providers like Russia, food and ingredient stocks are heating up. RiceBran Technologies has come into focus and has mounted a significant move since the start of the year. Over the last few months, RIBT stock has jumped from under $0.30 to over $0.70.
What Does RiceBran Do?
RiceBran Technologies provides nutritional and functional ingredients that come from rice and grains. The company processes these grain products with extended shelf-life and higher nutrition in mind.
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What To Watch With RIBT Stock
Rice prices and food prices, in general, have been on the rise. RiceBran recently began its expansion of its milling capacity accounting for additional demand. “The demand for regionally-sourced ingredients and agricultural products is soaring given the uncertainty of the geopolitical environment and challenges in the global supply chain, and we are able to respond,” said RiceBran Chairman Peter Bradley. The company also presents at the LD Micro Invitational event in a few weeks. So if RIBT stock is on your watch list, keep June 8th in mind.
2. Very Good Food Company (NASDAQ: VGFC)
Similar to RIBT, VGFC stock is in focus amid the global food shortage. It hasn’t been a great year for its stock, with prices sliding to all-time lows earlier this week. Along with the stock market rebound, VGFC stock has also followed suit.
What Does The Very Good Food Company Do?
As a plant-based food tech company, The Very Good Food Company specializes in nutrient-dense food products. Everything from plant-based meat to cheese products is part of its portfolio.
What To Watch With VGFC Stock
This week The Very Good Food Company announced its latest milestone. It increased its distribution in retail outlets in Canada with additional Loblaw locations. This expansion is forecasted for this summer. “We’re incredibly excited to bring our successful products to Loblaw customers across Canada and serve up even more plant-based goodness, getting us closer to achieving our wholesale expansion targets with what we have in our pipeline,” said Jordan Rogers, Chief Commercial Officer. As the food shortages remain a driving force of headlines, companies like Very Good Food could be in focus.
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3. Vroom Inc. (NASDAQ: VRM)
Retail stocks are another group that has gotten hit hard this year. Auto dealerships, believe it or not, are part of this. Today, auto retailers caught a nice pop of buying activity, with names including Vroom Inc. following the trend.
What Does Vroom Inc. Do?
The company offers an end-to-end platform to connect auto buyers to sellers. There are also options for things like home pick-up and even home delivery and financing options.
What To Watch With VRM Stock
VRM stock has moved in sympathy with other auto retail stocks. Shares of the company jumped back above the $1.40 level during early trading on Wednesday. Earlier this month, Vroom reported a Q1 earnings beat on sales of more than $923 million. Heading into the second half of the week, VRM stock could be on the radar thanks to an upcoming analyst event. If VRM is on your list of penny stocks, May 26th could be of interest. The company hosts a virtual analyst and investor event beginning at 9 AM ET.
4. Blacksky Technology (NYSE: BKSY)
Another one of the penny stocks coming back from the dead today is Blacksky Technology. Shares surged higher on news.
What Does Blacksky Technology Do?
The company services government agencies and commercial businesses. In particular, it offers real-time intelligence solutions to its customers.
What To Watch With BKSY Stock
This week the company announced its latest milestone. Blacksky was awarded a 10-year electro-optical commercial layer contract with the U.S. government.
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“This contract is a pivotal moment in the expansion of the partnership between commercial space and the U.S. Government. We’re proud to be selected as a long-term trusted mission partner of the NRO,” said Brian O’Toole, BlackSky CEO. “We will continue to enhance our Spectra AI platform and advance our satellite constellation in support of the NRO and our growing customer base around the world.”
While no terms were initially disclosed, government contract news doesn’t tend to go unnoticed. Today, BKSY has made its latest move on the back of this update.
Top Penny Stocks To Buy Now?
Whether you’re looking for penny stocks with insider buy or stocks with unusual options activity, having a game plan in mind to build your watch list is essential. You want to be as far ahead of the crowd as possible. But doing extra research can make a huge difference, especially when considering volatile stocks. Today we looked at a handful of names that caught a nice boost in bullish activity. Will the momentum last, or will this be a one-day event? Let us know in the comments section.
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