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3 Hot Penny Stocks To Buy For Under $1 This Week

Penny stocks to buy for under $1

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This could be one of the most volatile weeks for the stock market. But it’s just another week of trading for anyone trading penny stocks. That’s because, by definition, penny stocks are ones trading for less than $5, and their price alone lends itself to inherent volatility. Nevertheless, that doesn’t mean ignoring what’s happening in the stock market today and later this week. In fact, what’s happening mid-week could be a catalyst that could shift the outlook on the rest of the year.

The Stock Market This Week

This weekend we discussed several of the major and minor catalysts that are coming this week. The most significant that has captured most investor interest is Wednesday’s FOMC Meeting announcement and press conference. This is when we’ll completely understand the Federal Reserve’s stance on monetary policy and, more importantly, where rates will get hiked to.

Speculation is abuzz this week on 50, 75, and 100 basis point rate hikes, considering last week’s August CPI data and August PPI data. Both showed that peak inflation isn’t here yet, and there’s still concern over prices.

For more details on daily catalysts in the stock market this week, check out “Stock Market This Week: What To Watch 9/19-9/23.”

As they say, the trend is your friend. So if volatility is to take the market by storm, then volatile stocks may be where to look. None are more sporadic in price movement than cheap penny stocks under $1. Even a matter of just a few cents can mean a huge difference in percentage change. You’ll have to decide whether or not they’re worth a place on your watch list this week.

Penny Stocks To Buy Under $1

  • Versus Systems Inc. (NASDAQ: VS)
  • ECMOHO Ltd. (NASDAQ: MOHO)
  • American Virtual Cloud (NASDAQ: AVCT)

1. Versus Systems Inc. (NASDAQ: VS)

Just because the overall tech sector is down, it doesn’t mean all tech stocks are failing. Today Versus Systems is strongly going against that trend. Shares surged from 52-week lows of $0.30 to highs of over $0.30. Despite this only being a 10-cent move, that is worth 50% right now at these low levels.

Versus has built an engagement and rewards platform for live events, games, apps, and shows. Leveraging interactive engagement, it has begun working with sports teams, venues, and entertainment companies to extend its reach. Last month the company announced the completion of its latest activation for Finastra, which provides financial software apps. This marked the first integration of Versus’ platform in the corporate meeting segment.

Matthew Pierce, CEO of Versus Systems, explained, “The audience response to our XEO gaming platform was remarkable and is a fantastic use case for our technology. The Corporate Meeting and Events industry is a significant opportunity for Versus to use our XEO platform to delight and engage corporate event attendees all over the world.”

Thanks to the focus on beaten-down penny stocks, VS shares have returned to the spotlight.

2. ECMOHO Ltd. (NASDAQ: MOHO)

ECMOHO Ltd. was a popular penny stock earlier this summer among the Fintwit community. Low prices, thinly traded markets, and significant momentum were attractive enough to see retail traders flock to the name. MOHO stock ultimately rallied from around 11 cents to nearly 50 cents within a few days. But just as quickly as it broke out, the Chinese company’s shares sunk back to earth.

This week it is back in focus as volume began spiking during the mid-morning session on Monday. No news or filings coincided with the jump, but the unusual activity raised eyebrows as it was a previous Fintwit runner.

While the company hasn’t released much news recently, Chinese stocks, in general, have gained momentum. Recent economic data from the People’s Republic has helped boost sentiment for Asia-based companies in general. With some upcoming inflation data later this week, however, it will be interesting to see if risk-on assets like merging market stocks can hold gains. The question is, will this ugly chart manage to pretty itself up a bit this week if the trend continues?

2. American Virtual Cloud (NASDAQ: AVCT)

With a 21.31% short float, according to Fintel.IO, and 20.91% according to TDAmeritrade, American Virtual has been put on the list of short squeeze stocks to watch at the start of the week.

It was also on our list of top penny stocks to watch before September, thanks to news that it’s exploring the sale of its entire business. At the time, short interest also played a factor, which has increased since our last update. In our August article, short data showed a figure of just over 15%.

There is also a leadership transition in the works that has piqued the interest of retail traders. Its departing chairman, Michael Tessler, said in an update, “I have enjoyed working with the AVCT board and management team.  I wish the new management team well as it works with the board to consider the range of possible strategic alternatives to optimize the value of the entity.”

With speculation buzzing on the future of the company, the increased short interest, and a focus on penny stocks under $1, AVCT stock could be on the radar for some this week.

Best Penny Stocks To Buy

Penny stocks are some of the riskiest investments you can get into. With that risk comes the potential for a considerable reward if traded correctly. Some of these companies have seen some recent events that have helped boost things.

But it’s also important to understand that just as quickly as these jump, they can drop. If you’re brand new to trading, the best place to begin is learning how to find the best penny stocks to buy. Here are a few articles to help get you started:

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By J. Samuel

As a trader and expert finance writer, I enjoy finding new and emerging trends that may have been overlooked by the average masses. If there's one thing that a trader or investor wants to know, it's how to use valuable data to their advantage. My expertise is in uncovering this data and compiling it into actionable information. As a professional finance writer, I've contributed to many of the top finance platforms and pride myself on researching factual, publicly available information and using that in all of my articles.

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