Penny Stocks Under $1 To Watch This Week
unless you’ve been living under a rock, you know how bearish the stock market is right now. Since the beginning of the year, major indexes are trading lower. While some are dipping more than others, market participants are finding different ways to make money trading.
Penny stocks are one of these ways, and they come with plenty of volatility and excitement. Are they for everyone? No, but if you know how to manage risk and handle fast-moving stocks, penny stocks may be worth a closer look.
By definition, we’re talking about stocks under $5. But this article looks at a few more of the cheapest names trading on major exchanges. The OTC is well-known for playing host to extremely low-priced stocks. The NYSE and NASDAQ, however, are assumed to have a different pedigree in comparison.
When it comes to penny stocks on major exchanges, they are more widely accessible thanks to certain restrictions that some stock brokers have. One of which is Robinhood, a platform that attracted millions of new traders over the last few years.
Does this mean stocks under $1 are inaccessible to Robinhood traders? No, but there is a limited number. Thanks to the 2022 stock market crash, that pool of cheap stocks a slightly larger than in years past. In this update, we look at a few more stocks under $1 to watch right now. This also continues our list from our article “3 Hot Penny Stocks Under $1 To Watch This Week.”
Penny Stocks Under $1
Vislink Technologies, Inc. (VISL)
Shares of Vislink Technologies have been on the move for the last few weeks. After hitting 52-week lows of $0.3407 during the first seven days of December, VISL stock has made a rebound of nearly 100%. In looking at the technical levels on the penny stock’s chart, you’ll also see that it has come within striking distance of a major moving average; the 200-day moving average.
The debut of its new website seems to have helped boost sentiment. The video and data company revealed this latest development less than two weeks ago. Mickey Miller, CEO of Vislink, explained, “In addition to providing a more simplified, user-focused experience, the website reflects the complete integration we have achieved with the products and solutions developed by Mobile Viewpoint, which Vislink acquired in 2021. The website represents the successful unification of the two companies from an organizational, technological, branding, and operational standpoint.”
Adding to the excitement was some insider buying this week. Vislink’s CEO picked up over 700,000 shares of VISL stock at an average price of $0.41. Trades were made on December 16th and December 19th, bringing Miller’s total holdings to more than 4.2 million shares.
Next week the company will host its 2022 annual meeting. So if VISL stock is on your watch list, keep December 27th in mind.
TeraWulf Inc. (WULF)
Like Vislink, TeraWulf stock is approaching a significant technical level. Its 50-day moving average sits right around $0.96, and shares traded as highs as $0.8348 during Friday’s morning session. TeraWulf specializes in bitcoin mining, so it isn’t hard to figure out one of the main reasons shares have traded lower over the last few months.
“Bitcoin Winter” has seen digital asset prices and associated stocks dropping to some of their lowest levels in years. As of this article, the price of Bitcoin hovered around $16,800. While it is much higher than recent lows, it is very far off last year’s record highs.
Even in the face of this bearish pressure, TeraWulf continues ramping up its efforts. The company announced earlier this month that it’s expecting to “significantly increase” its elf-mining hash rate next quarter. It’s also anticipating the delivery of more bitcoin mining machines during the first quarter of 2023.
COO Nazar Khan said in a December update, “There is no doubt the mining business has been challenging over the last 12 months; however, we are strategically positioned as one of – if not the – lowest-cost producers of Bitcoin, and we will continue to strategically…With our targeted average power cost of $0.035/kWh, which is 30% below the sector average of $0.050/kWh2, for the 160+ MW of mining capability across our two sites, we firmly believe that TeraWulf will be one of the few bitcoin miners that can sustainably and profitably operate in a low Bitcoin price environment.”
With a hopeful outlook from the company, it will be interesting to see if TeraWulf and other crypto-related companies can turn things around. Chances are, the price of Bitcoin will have the most significant influence on sentiment within this market niche. So keep that in mind if WULF or other crypto, bitcoin, or digital asset stocks are on your watch list.
Neubase Therapeutics (NBSE)
Biotech penny stocks have been picking up steam this quarter. Neubase Therapeutics, for example, has recently seen an uptick in trading action late this month thanks to its latest business update. The company designs optimal ways of delivering genetic drugs and sets the tone for 2023. In particular, management explained new partnerships could be coming in 2023, along with an expanded pipeline that will include gene editing programs.
CEO Dietrich Stephan, Ph.D., stated, “Throughout calendar year 2023, we anticipate sharing data on ex vivo and in vivo editing results against high-value genetic mutations, together with associated performance metrics such as fidelity and efficiency.”
As more updates are expected, it will be interesting to see if Neubase can achieve these milestones in 2023. This year was seen as “a turning point” for the company as it takes the next step to expand the capabilities of its platform. Now, for 2023, around the corning, NBSE stock could be on the watchlist for some traders, as evidenced by the latest trading volumes.