Whether you’re looking for penny stocks to buy right now or to monitor, an excellent place to begin is with a watch list. Researching trending stocks, industries, and the general sentiment is important. But once you’ve done that, it’s time to track your ideas.
Today we look at a handful of some of the top penny stocks retail traders are watching right now. What’s moving them, which trends are in play, and are there any additional catalysts coming up? These are things that could be important to anyone with these penny stocks to watch.
4 Top Penny Stocks To Watch
- Eqonex Limited (NASDAQ: EQOS)
- Hut 8 Mining Corp. (NASDAQ: HUT)
- Vistagen Therapeutics (NASDAQ: VTGN)
- GreenPower Motor Co. (NASDAQ: GP)
Eqonex Limited (NASDAQ: EQOS)
Some of the most popular penny stocks to watch this month have been ones trading for pennies. True penny stocks are some of the most volatile and sought-after by day traders and momentum traders alike. Eqonex has been an example of that over the last few weeks. It showed strength in line with other financial technology stocks.
The company provides digital asset financial services. If you’ve been watching cryptocurrency trading, you know that related stocks have gotten some attention. In particular, Eqonex offers a digital asset ecosystem for both institutional and individual users. Its portfolio includes custodianship technology, investment products, and Bletchley Park, a group of crypto hedge funds.
Thanks to the boost in bullishness stemming from Bitcoin prices and other digital asset valuations jumping, companies like Eqonex have piqued interest. In light of it being tightly tied to that trend, it will be important to take some cues from the underlying crypto assets to gauge sentiment for industry stocks.
Hut 8 Mining Corp. (NASDAQ: HUT)
Sticking with the cryptocurrency trend, Hut 8 Mining has also gained momentum in the stock market this week. Shares of the digital asset mining company surged from under $1.90 to over $2.40 since Monday as Bitcoin prices climbed.
[Read More] 4 Penny Stocks To Buy: Insider Picks For OctoberEarlier this month, Hut 8 announced its September monthly production and operations results. It showed 277 Bitcoin were generated and brought total self-mined holdings to just 8,388 Bitcoin. In addition, CEO Jaime Leverton also gave some guidance as to plans for Q4.
“As we head into the fourth quarter with strong momentum, we are focused on optimizing our Bitcoin mining operations while growing our high performance computing business, which includes potentially leveraging our GPU machines to provide AI, Machine Learning, or VFX rendering services to customers, and mining the next most profitable Proof of Work digital asset during idle time.”
Like EQOS, HUT stock has been tightly in-step with the price of Bitcoin and the cryptocurrency market. It will be important to keep that in mind if HUT is on your list of penny stocks to watch this week.
Vistagen Therapeutics (NASDAQ: VTGN)
Another one of the penny stocks under $1 to watch is Vistagen. The company specializes in treatment development for central nervous system disorders, anxiety, and depression. Last month the company presented a poster at the Psych Congress 2022. It highlighted the impact of its PH94B nasal electrogram for treating social anxiety disorder.
Louis Monti, M.D., Ph.D., Vistagen’s Vice President, Translational Medicine, explained that the positive data “support the activation of target nasal receptors and sympatholytic effects following intranasal administration of PH94B, concurrent with self-reported calmness and relaxation, further contributing to our understanding PH94B’s proposed mechanism of action and its potential to produce fast-acting anxiolytic effects.”
VTGN stock is back on the radar after this week’s news that it will host a Concordia Live Webinar on innovative approaches to mental health treatment. The session looks to explore how people can work to broaden the reach of effective mental health treatments and break stigmas. With the round table happening tomorrow, VTGN stock could be one of the names to watch heading into the second half of the week.
GreenPower Motor Co. (NASDAQ: GP)
After months of selling pressure took GreenPower stock to new lows last week, the latest bullishness is a warm welcome for some traders. The heavy-duty EV company’s shares took off after comments regarding the US EPA’s news of selectees eligible for almost $1 billion in funding to school districts to make the zero-emission transition for their school buses. The offering is the first under the five-year $5 billion Clean School Bus Program that was created last year.
[Read More]“The funding under the Clean School Bus Program will transform the nation’s school bus fleet,” said GreenPower President Brendan Riley. “Accelerating the transition to clean, zero-emission school buses will result in reduced pollutant levels and a healthier ride for kids. GreenPower is pleased to be the leader in this transition through the deployment of its BEAST and Nano BEAST all-electric, zero-emission school buses nationwide.”
Considering the company manufactures and distributes electric medium & heavy-duty vehicles, the milestone was seen as a positive for the company’s business strategy. Obviously, the BEAST and Nano BEAST all-electric, zero-emission school buses are the specific products in focus. They could play a part in the mounting speculation surrounding GP stock.
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