Penny stock investing offers potential rewards and volatility. Generally, penny stocks are valued below $5 and can be risky, but they provide substantial gains for risk-tolerant investors. As March 2023 concludes, the stock market faces turbulence due to the recent Federal Open Market Committee (FOMC) meeting and interest rate hike decision. Investors believe this decision could be crucial in curbing rampant inflation.

The February Consumer Price Index (CPI) data and Producer Price Index (PPI) report prompted speculation about less aggressive rate hikes in 2023. Fed Chair Powell discussed this during Wednesday’s press conference.

Amid these events, retail traders are now concentrating on daily fluctuations versus monthly or weekly. The majority of that focus has been on small and nano-cap stocks, which are typically associated with cheap stocks like penny stocks. They often move independently of the broader market, allowing some to rise even during downturns.

What drives penny stocks to rise when markets fall? Speculation fuels momentum. Many underlying companies are start-ups, early-stage businesses, or those experiencing difficulties. Traders search for potential turnaround signs in these struggling firms. This speculation draws the attention of day and swing traders.

Below, we examine several noteworthy penny stocks currently capturing market interest. It’s also a continuation of our list from the article Penny Stocks To Buy Under $5? 7 To Watch This Week.

penny stocks under $1 to watch this week

Penny Stocks To Watch

Virgin Orbit Holdings Inc. (VORB)

Shares of Virgin Orbit have seen a strong uptick in trading action over the last few days. Initially, VORB stock climbed after Richard Branson’s company reported plans of returning a small group of employees. It plans on bringing the employees back to work on rocket upgrades, according to Reuters.

Optimism has continued in the stock market this week as the sub-$1 stock rebounds. Speculation related to a report stating the company is in talks with interested investors to fund the company gave sentiment a boost. Virgin was said to be nearing a deal for a $200 million investment from Texas-based venture capital investor Matthew Brown. Reuters reported that the satellite launches company and Mr. Brown were looking to close the deal on Friday. However, Virgin Orbit did not comment on the likely deal, nor did Matthew Brown Companies.

With speculation fueling momentum in the stock market today, VORB stock is front and center on watch lists.

Ferroglobe (GSM)

Another one of the hot penny stocks to watch in the stock market today is Ferroglobe. The company’s shares pulled an about-face compared to the last few sessions this week. Ferroglobe produces silicon metal and silicon-based and manganese-based specialty alloys. Some of the latest speculation comes as a result of the company’s latest round of earnings.

Ferroglobe reported a significant jump in Q4 EPS, beating estimates by 100%. In addition, the company sees fiscal 2023 Adjusted EBITDA of $290 million, which has prompted a bit more optimism recently.

CEO Dr. Marco Levi explained, “The prospects for Ferroglobe have never been stronger. We have optimized the cost structure of the Company to enable us to outperform throughout the cycle. In addition, we are well-positioned to capitalize on several trends taking place in the market that will drive growth in the coming years. We expect the battery market for electric vehicles and the solar market presents an extraordinary opportunity, driven by the need for high-purity silicon. The use of silicon in batteries is still in its early stages of development, and we expect to see significant growth as this technology is perfected.”

Levi also discussed current partnerships with battery developers and the recent kick-off of production. Another item on the docket for the company is solar, which he said “represents an enormous market that we expect to continue to capitalize on.”

On the back of record, 2022 revenue of $2.6 billion and record 2022 adjusted EBITDA of $860 million, GSM stock has begun trading higher.

Virios Therapeutics LLC (VIRI)

Virios Therapeutics was one of the penny stocks with an unusually high volume on Friday. It saw some of the highest trading volumes since late last year and came without any immediately apparent news catalysts. However, if you look back at previous updates, you may be able to find the source of speculation based on the timing of the month.

Balancing Risk and Rewards With Penny Stocks

In its March business update, Virios stated that “the Company has an End-of-Phase 2 Meeting scheduled with the U.S. Food & Drug Administration in March to discuss the progression of IMC-1 into Phase 3 development.” There is also top-line results expected in mid-2023 for its exploratory Long-COVID.

Nevertheless, since there haven’t been any further updates to the FDA-related meeting and March is nearly over, some may have begun to speculate.

List Of Penny Stocks

  1. Virgin Orbit Holdings Inc. (NASDAQ: VORB)
  2. Ferroglobe (NASDAQ: GSM)
  3. Virios Therapeutics LLC (NASDAQ: VIRI)
  4. CXApp Inc. (NASDAQ: CXAI)
  5. SoundHound AI Inc. (NASDAQ: SOUN)
  6. PLBY Group Inc. (NASDAQ: PLBY)
  7. Generation Bio (NASDAQ: GBIO)
  8. T2 Biosystems Inc. (NASDAQ: TTOO)
  9. CleanSpark Inc. (NASDAQ: CLSK)
  10. Proterra Inc. (NASDAQ: PTRA)

Sign up for our FREE Newsletter and get:

  • The Beginner’s Handbook For Trading Penny Stocks
  • Penny Stock Alerts And Ideas
  • Learn To Trade Penny Stocks
  • Free Access to The Fastest Growing Highest Rated Trading Chatroom
Privacy Policy

Midam Ventures, LLC | (305) 306-3854 | 1501 Venera Ave, Coral Gables, FL 33146 |

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

7 Penny Stocks Making A Comeback This Month; 2 Over 50% So Far

November Could Be A Turn-Around Month For Some Penny Stocks One of…

What Are Good Penny Stocks To Buy? 4 Biotech Stocks For Your List

Are These Biotech Stocks To Buy Right Now?

3 Short Squeeze Penny Stocks To Watch Before 2023

Short squeeze penny stocks to watch.